Pinnacle Associates Ltd. Takes Position in Electronic Arts Inc. (NASDAQ:EA)

Pinnacle Associates Ltd. bought a new stake in Electronic Arts Inc. (NASDAQ:EA) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 1,661 shares of the game software company’s stock, valued at approximately $227,000.

A number of other institutional investors have also recently made changes to their positions in EA. Opal Wealth Advisors LLC bought a new stake in Electronic Arts in the 2nd quarter worth approximately $28,000. Family Firm Inc. bought a new stake in Electronic Arts in the second quarter worth $33,000. New Covenant Trust Company N.A. purchased a new stake in Electronic Arts during the first quarter valued at about $35,000. Gradient Investments LLC grew its stake in shares of Electronic Arts by 592.1% during the second quarter. Gradient Investments LLC now owns 263 shares of the game software company’s stock valued at $37,000 after buying an additional 225 shares during the last quarter. Finally, Bruce G. Allen Investments LLC increased its stake in Electronic Arts by 156.6% in the 3rd quarter. Bruce G. Allen Investments LLC now owns 272 shares of the game software company’s stock worth $39,000 after purchasing an additional 166 shares during the period. Institutional investors own 90.23% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on EA. Bank of America boosted their price objective on shares of Electronic Arts from $150.00 to $170.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. Stifel Nicolaus upped their price objective on shares of Electronic Arts from $165.00 to $167.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. Roth Mkm lifted their target price on shares of Electronic Arts from $154.00 to $158.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. Jefferies Financial Group began coverage on shares of Electronic Arts in a research note on Thursday, July 11th. They issued a “buy” rating and a $165.00 price target for the company. Finally, Morgan Stanley reaffirmed an “equal weight” rating and set a $150.00 price objective on shares of Electronic Arts in a research report on Wednesday, September 18th. Eight research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $164.39.

Insider Transactions at Electronic Arts

In other news, insider Vijayanthimala Singh sold 1,000 shares of the firm’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $150.83, for a total transaction of $150,830.00. Following the sale, the insider now owns 28,190 shares of the company’s stock, valued at $4,251,897.70. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other news, CFO Stuart Canfield sold 1,260 shares of the stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $148.37, for a total value of $186,946.20. Following the transaction, the chief financial officer now owns 7,553 shares in the company, valued at $1,120,638.61. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Vijayanthimala Singh sold 1,000 shares of the business’s stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $150.83, for a total transaction of $150,830.00. Following the sale, the insider now owns 28,190 shares of the company’s stock, valued at $4,251,897.70. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 23,644 shares of company stock worth $3,491,207 over the last quarter. 0.22% of the stock is currently owned by insiders.

Electronic Arts Trading Up 0.3 %

NASDAQ:EA opened at $151.26 on Monday. Electronic Arts Inc. has a 52 week low of $124.92 and a 52 week high of $153.51. The stock has a market cap of $39.96 billion, a price-to-earnings ratio of 38.88, a PEG ratio of 2.05 and a beta of 0.78. The company’s 50 day moving average price is $144.96 and its 200-day moving average price is $140.29. The company has a quick ratio of 1.45, a current ratio of 1.43 and a debt-to-equity ratio of 0.25.

Electronic Arts Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Wednesday, November 27th will be issued a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a dividend yield of 0.50%. The ex-dividend date of this dividend is Wednesday, November 27th. Electronic Arts’s payout ratio is 19.54%.

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.