Resona Asset Management Co. Ltd. Takes Position in Electronic Arts Inc. (NASDAQ:EA)

Resona Asset Management Co. Ltd. acquired a new position in shares of Electronic Arts Inc. (NASDAQ:EA) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 100,617 shares of the game software company’s stock, valued at approximately $14,741,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Geode Capital Management LLC lifted its holdings in Electronic Arts by 0.5% in the 4th quarter. Geode Capital Management LLC now owns 6,702,586 shares of the game software company’s stock valued at $978,650,000 after purchasing an additional 30,929 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its stake in shares of Electronic Arts by 6.5% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 4,430,409 shares of the game software company’s stock valued at $648,169,000 after purchasing an additional 270,991 shares in the last quarter. Amundi grew its stake in Electronic Arts by 4.3% during the fourth quarter. Amundi now owns 2,990,729 shares of the game software company’s stock worth $431,315,000 after buying an additional 122,494 shares during the period. Bank of New York Mellon Corp boosted its position in Electronic Arts by 1.3% during the 4th quarter. Bank of New York Mellon Corp now owns 1,789,283 shares of the game software company’s stock worth $261,772,000 after purchasing an additional 23,289 shares during the period. Finally, Swedbank AB boosted its position in shares of Electronic Arts by 6.3% in the fourth quarter. Swedbank AB now owns 1,607,817 shares of the game software company’s stock worth $235,224,000 after buying an additional 95,190 shares during the period. Institutional investors and hedge funds own 90.23% of the company’s stock.

Electronic Arts Price Performance

EA opened at $135.34 on Monday. The firm has a market capitalization of $35.27 billion, a P/E ratio of 34.44, a PEG ratio of 3.58 and a beta of 0.78. Electronic Arts Inc. has a 12-month low of $115.21 and a 12-month high of $168.50. The company has a quick ratio of 1.38, a current ratio of 1.38 and a debt-to-equity ratio of 0.25. The stock has a fifty day moving average of $134.10 and a 200-day moving average of $144.60.

Electronic Arts (NASDAQ:EA) last announced its quarterly earnings data on Tuesday, February 4th. The game software company reported $2.34 EPS for the quarter, missing analysts’ consensus estimates of $3.41 by ($1.07). Electronic Arts had a return on equity of 17.80% and a net margin of 14.28%. Equities analysts forecast that Electronic Arts Inc. will post 4.71 EPS for the current fiscal year.

Electronic Arts Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 19th. Shareholders of record on Wednesday, February 26th were paid a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 0.56%. The ex-dividend date of this dividend was Wednesday, February 26th. Electronic Arts’s dividend payout ratio (DPR) is currently 19.34%.

Insider Activity at Electronic Arts

In other news, insider Vijayanthimala Singh sold 1,000 shares of the company’s stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $145.00, for a total transaction of $145,000.00. Following the completion of the transaction, the insider now directly owns 26,216 shares in the company, valued at $3,801,320. The trade was a 3.67 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Andrew Wilson sold 5,000 shares of the firm’s stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $142.68, for a total transaction of $713,400.00. Following the completion of the sale, the chief executive officer now owns 42,615 shares in the company, valued at approximately $6,080,308.20. The trade was a 10.50 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 22,000 shares of company stock valued at $3,015,990. Insiders own 0.22% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. DA Davidson initiated coverage on shares of Electronic Arts in a report on Wednesday, February 19th. They set a “neutral” rating and a $140.00 price target for the company. Robert W. Baird dropped their price target on Electronic Arts from $175.00 to $158.00 and set an “outperform” rating on the stock in a research report on Thursday, January 23rd. Moffett Nathanson raised shares of Electronic Arts from a “neutral” rating to a “buy” rating and set a $145.00 target price on the stock in a report on Friday, January 31st. BMO Capital Markets reduced their price target on shares of Electronic Arts from $145.00 to $142.00 and set a “market perform” rating for the company in a report on Wednesday, February 5th. Finally, Bank of America boosted their price objective on Electronic Arts from $130.00 to $132.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 5th. Thirteen analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $155.30.

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.