Buckhead Capital Management LLC boosted its position in Electronic Arts Inc. (NASDAQ:EA – Free Report) by 16.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 42,351 shares of the game software company’s stock after acquiring an additional 6,031 shares during the quarter. Electronic Arts accounts for 1.2% of Buckhead Capital Management LLC’s investment portfolio, making the stock its 29th biggest position. Buckhead Capital Management LLC’s holdings in Electronic Arts were worth $5,101,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Greenleaf Trust lifted its stake in shares of Electronic Arts by 2.7% during the first quarter. Greenleaf Trust now owns 3,450 shares of the game software company’s stock worth $416,000 after purchasing an additional 91 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its stake in shares of Electronic Arts by 0.4% during the first quarter. Allspring Global Investments Holdings LLC now owns 25,574 shares of the game software company’s stock worth $3,080,000 after purchasing an additional 96 shares in the last quarter. O Shaughnessy Asset Management LLC lifted its stake in shares of Electronic Arts by 1.8% during the fourth quarter. O Shaughnessy Asset Management LLC now owns 5,580 shares of the game software company’s stock worth $682,000 after purchasing an additional 100 shares in the last quarter. Captrust Financial Advisors lifted its stake in shares of Electronic Arts by 0.5% during the third quarter. Captrust Financial Advisors now owns 23,082 shares of the game software company’s stock worth $2,671,000 after purchasing an additional 105 shares in the last quarter. Finally, Great Lakes Retirement Inc. lifted its stake in shares of Electronic Arts by 2.8% during the first quarter. Great Lakes Retirement Inc. now owns 3,876 shares of the game software company’s stock worth $467,000 after purchasing an additional 106 shares in the last quarter. Institutional investors and hedge funds own 90.42% of the company’s stock.
Electronic Arts Price Performance
Shares of NASDAQ:EA traded up $0.82 on Monday, reaching $120.51. 892,470 shares of the company traded hands, compared to its average volume of 2,263,596. Electronic Arts Inc. has a fifty-two week low of $108.53 and a fifty-two week high of $140.30. The company’s 50 day moving average is $128.94 and its 200-day moving average is $123.81. The stock has a market capitalization of $32.65 billion, a PE ratio of 37.18, a P/E/G ratio of 2.59 and a beta of 0.87. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.28 and a quick ratio of 1.28.
Electronic Arts (NASDAQ:EA – Get Free Report) last announced its earnings results on Tuesday, August 1st. The game software company reported $0.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.61 by $0.14. Electronic Arts had a net margin of 11.78% and a return on equity of 19.49%. The company had revenue of $1.58 billion for the quarter, compared to the consensus estimate of $1.59 billion. As a group, analysts anticipate that Electronic Arts Inc. will post 5.1 earnings per share for the current fiscal year.
Electronic Arts Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 20th. Stockholders of record on Wednesday, August 30th will be paid a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a dividend yield of 0.63%. The ex-dividend date is Tuesday, August 29th. Electronic Arts’s dividend payout ratio (DPR) is presently 23.53%.
Insider Transactions at Electronic Arts
In other news, Director Luis A. Ubinas sold 2,004 shares of the company’s stock in a transaction on Tuesday, August 15th. The shares were sold at an average price of $122.06, for a total value of $244,608.24. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Electronic Arts news, CEO Andrew Wilson sold 5,000 shares of the company’s stock in a transaction dated Tuesday, May 30th. The shares were sold at an average price of $126.79, for a total transaction of $633,950.00. Following the completion of the sale, the chief executive officer now directly owns 87,809 shares in the company, valued at $11,133,303.11. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Luis A. Ubinas sold 2,004 shares of the company’s stock in a transaction dated Tuesday, August 15th. The shares were sold at an average price of $122.06, for a total transaction of $244,608.24. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 21,304 shares of company stock valued at $2,719,568. 0.20% of the stock is owned by insiders.
Analyst Upgrades and Downgrades
Several research analysts recently commented on the company. Citigroup boosted their price target on Electronic Arts from $131.00 to $145.00 in a research note on Thursday, May 11th. Robert W. Baird boosted their price target on Electronic Arts from $140.00 to $146.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 2nd. Deutsche Bank Aktiengesellschaft boosted their price objective on Electronic Arts from $125.00 to $135.00 in a report on Tuesday, May 16th. Truist Financial lowered their price objective on Electronic Arts from $150.00 to $140.00 and set a “buy” rating for the company in a report on Wednesday, August 16th. Finally, Wells Fargo & Company boosted their price objective on Electronic Arts from $135.00 to $145.00 in a report on Wednesday, May 10th. Twelve analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $139.64.
Electronic Arts Company Profile
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.