Distillate Capital Partners LLC Takes $15.58 Million Position in Electronic Arts Inc. (NASDAQ:EA)

Distillate Capital Partners LLC bought a new position in shares of Electronic Arts Inc. (NASDAQ:EA) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 111,838 shares of the game software company’s stock, valued at approximately $15,582,000.

A number of other large investors have also recently bought and sold shares of the company. Cullen Frost Bankers Inc. boosted its stake in shares of Electronic Arts by 2.9% in the second quarter. Cullen Frost Bankers Inc. now owns 2,828 shares of the game software company’s stock worth $394,000 after buying an additional 79 shares during the last quarter. Grove Bank & Trust grew its stake in shares of Electronic Arts by 23.5% during the 2nd quarter. Grove Bank & Trust now owns 494 shares of the game software company’s stock worth $69,000 after purchasing an additional 94 shares during the period. B. Riley Wealth Advisors Inc. increased its holdings in shares of Electronic Arts by 4.6% during the 1st quarter. B. Riley Wealth Advisors Inc. now owns 2,194 shares of the game software company’s stock valued at $291,000 after purchasing an additional 97 shares in the last quarter. Claro Advisors LLC lifted its stake in shares of Electronic Arts by 5.6% in the 1st quarter. Claro Advisors LLC now owns 1,881 shares of the game software company’s stock valued at $250,000 after purchasing an additional 100 shares during the period. Finally, Oregon Public Employees Retirement Fund boosted its holdings in Electronic Arts by 0.5% during the second quarter. Oregon Public Employees Retirement Fund now owns 20,909 shares of the game software company’s stock worth $2,913,000 after buying an additional 100 shares in the last quarter. Hedge funds and other institutional investors own 90.23% of the company’s stock.

Electronic Arts Stock Performance

Shares of Electronic Arts stock opened at $141.07 on Tuesday. The stock has a market capitalization of $37.49 billion, a price-to-earnings ratio of 30.14, a PEG ratio of 1.97 and a beta of 0.79. The firm’s fifty day simple moving average is $146.07 and its 200-day simple moving average is $137.77. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.45 and a quick ratio of 1.45. Electronic Arts Inc. has a 12 month low of $117.47 and a 12 month high of $153.51.

Electronic Arts (NASDAQ:EA) last announced its earnings results on Tuesday, July 30th. The game software company reported $0.09 EPS for the quarter, beating analysts’ consensus estimates of $0.03 by $0.06. The business had revenue of $1.26 billion during the quarter, compared to analysts’ expectations of $1.21 billion. Electronic Arts had a net margin of 15.77% and a return on equity of 16.34%. As a group, equities analysts forecast that Electronic Arts Inc. will post 5.89 earnings per share for the current year.

Electronic Arts Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 18th. Stockholders of record on Wednesday, August 28th were issued a $0.19 dividend. The ex-dividend date was Wednesday, August 28th. This represents a $0.76 annualized dividend and a dividend yield of 0.54%. Electronic Arts’s dividend payout ratio is currently 16.24%.

Insiders Place Their Bets

In related news, insider Vijayanthimala Singh sold 800 shares of the business’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $139.71, for a total transaction of $111,768.00. Following the sale, the insider now owns 38,574 shares of the company’s stock, valued at $5,389,173.54. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, CFO Stuart Canfield sold 3,000 shares of the company’s stock in a transaction on Thursday, July 11th. The stock was sold at an average price of $145.00, for a total value of $435,000.00. Following the completion of the transaction, the chief financial officer now directly owns 7,553 shares in the company, valued at $1,095,185. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Vijayanthimala Singh sold 800 shares of the firm’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $139.71, for a total value of $111,768.00. Following the completion of the sale, the insider now directly owns 38,574 shares in the company, valued at $5,389,173.54. The disclosure for this sale can be found here. Over the last quarter, insiders sold 24,570 shares of company stock worth $3,621,343. 0.22% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $160.00 price target on shares of Electronic Arts in a report on Wednesday, September 18th. TD Cowen raised their price objective on shares of Electronic Arts from $163.00 to $183.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Roth Mkm reiterated a “neutral” rating and issued a $154.00 target price on shares of Electronic Arts in a report on Thursday, September 19th. UBS Group lifted their price target on shares of Electronic Arts from $143.00 to $155.00 and gave the company a “neutral” rating in a research report on Wednesday, July 31st. Finally, JPMorgan Chase & Co. raised their target price on Electronic Arts from $148.00 to $155.00 and gave the stock a “neutral” rating in a research note on Monday, July 15th. Nine analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $161.94.

About Electronic Arts

Electronic Arts Inc develops, markets, publishes, and distributes games, content, and services for game consoles, PCs, mobile phones, and tablets worldwide. It develops and publishes games and services across various genres, such as sports, racing, first-person shooter, action, role-playing, and simulation primarily under the Battlefield, The Sims, Apex Legends, Need for Speed, and license games from others, including FIFA, Madden NFL, UFC, and Star Wars brands.