Summit Investment Advisors Inc. Grows Stock Position in Electronic Arts Inc. (NASDAQ:EA)

Summit Investment Advisors Inc. boosted its stake in shares of Electronic Arts Inc. (NASDAQ:EA) by 1.1% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 27,598 shares of the game software company’s stock after acquiring an additional 306 shares during the quarter. Summit Investment Advisors Inc.’s holdings in Electronic Arts were worth $4,038,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of EA. MML Investors Services LLC grew its holdings in Electronic Arts by 2.4% in the 3rd quarter. MML Investors Services LLC now owns 10,437 shares of the game software company’s stock worth $1,497,000 after acquiring an additional 246 shares during the last quarter. Sanctuary Advisors LLC boosted its holdings in shares of Electronic Arts by 76.3% during the third quarter. Sanctuary Advisors LLC now owns 10,328 shares of the game software company’s stock worth $1,481,000 after purchasing an additional 4,471 shares during the period. Wilmington Savings Fund Society FSB bought a new stake in shares of Electronic Arts in the third quarter worth about $428,000. Tidal Investments LLC increased its holdings in Electronic Arts by 20.6% during the 3rd quarter. Tidal Investments LLC now owns 45,630 shares of the game software company’s stock valued at $6,545,000 after purchasing an additional 7,786 shares during the period. Finally, Franklin Resources Inc. raised its position in Electronic Arts by 8.4% during the 3rd quarter. Franklin Resources Inc. now owns 863,899 shares of the game software company’s stock valued at $124,548,000 after purchasing an additional 66,797 shares during the last quarter. 90.23% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

EA has been the topic of several research analyst reports. Wedbush reissued an “outperform” rating and set a $173.00 target price on shares of Electronic Arts in a research note on Thursday, January 23rd. Benchmark boosted their price objective on shares of Electronic Arts from $140.00 to $160.00 and gave the company a “buy” rating in a research report on Monday, March 24th. DA Davidson assumed coverage on shares of Electronic Arts in a research report on Wednesday, February 19th. They issued a “neutral” rating and a $140.00 target price for the company. BNP Paribas cut shares of Electronic Arts from an “outperform” rating to a “neutral” rating and set a $125.00 price target on the stock. in a research report on Monday, January 27th. Finally, Raymond James lowered shares of Electronic Arts from an “outperform” rating to a “market perform” rating in a report on Thursday, January 23rd. Thirteen investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $155.30.

Insider Buying and Selling at Electronic Arts

In related news, EVP Jacob J. Schatz sold 1,500 shares of the business’s stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $143.45, for a total transaction of $215,175.00. Following the completion of the sale, the executive vice president now directly owns 23,386 shares in the company, valued at approximately $3,354,721.70. The trade was a 6.03 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Vijayanthimala Singh sold 1,000 shares of Electronic Arts stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $122.03, for a total transaction of $122,030.00. Following the transaction, the insider now owns 28,216 shares in the company, valued at $3,443,198.48. This represents a 3.42 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 22,000 shares of company stock worth $3,015,990. Insiders own 0.22% of the company’s stock.

Electronic Arts Stock Up 2.5 %

EA stock opened at $142.93 on Monday. The stock has a market capitalization of $37.25 billion, a P/E ratio of 36.37, a P/E/G ratio of 3.58 and a beta of 0.79. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.38 and a quick ratio of 1.38. Electronic Arts Inc. has a 1-year low of $115.21 and a 1-year high of $168.50. The business has a fifty day moving average price of $136.45 and a 200-day moving average price of $144.34.

Electronic Arts (NASDAQ:EA) last issued its earnings results on Tuesday, February 4th. The game software company reported $2.34 earnings per share 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 earnings per share for the current fiscal year.

Electronic Arts Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 19th. Shareholders of record on Wednesday, February 26th were given a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 0.53%. The ex-dividend date was Wednesday, February 26th. Electronic Arts’s dividend payout ratio (DPR) is presently 19.34%.

Electronic Arts 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.