Morningstar Investment Management LLC Purchases Shares of 2,075 Electronic Arts Inc. $EA

Morningstar Investment Management LLC purchased a new stake in Electronic Arts Inc. (NASDAQ:EA) in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 2,075 shares of the game software company’s stock, valued at approximately $331,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Norden Group LLC acquired a new stake in Electronic Arts in the 2nd quarter valued at about $214,000. Focus Partners Advisor Solutions LLC purchased a new stake in Electronic Arts during the first quarter valued at about $319,000. Vest Financial LLC lifted its stake in Electronic Arts by 5.7% during the second quarter. Vest Financial LLC now owns 278,069 shares of the game software company’s stock valued at $44,408,000 after buying an additional 15,032 shares in the last quarter. Vanguard Personalized Indexing Management LLC lifted its stake in Electronic Arts by 34.8% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 40,483 shares of the game software company’s stock valued at $6,467,000 after buying an additional 10,453 shares in the last quarter. Finally, CCM Investment Group LLC purchased a new stake in Electronic Arts during the first quarter valued at about $1,625,000. 90.23% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, insider Vijayanthimala Singh sold 1,200 shares of the stock in a transaction that occurred on Monday, September 29th. The stock was sold at an average price of $203.40, for a total value of $244,080.00. Following the transaction, the insider owned 33,531 shares in the company, valued at approximately $6,820,205.40. This represents a 3.46% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Stuart Canfield sold 6,500 shares of the stock in a transaction that occurred on Monday, September 29th. The stock was sold at an average price of $203.40, for a total value of $1,322,100.00. Following the completion of the transaction, the chief financial officer owned 5,140 shares in the company, valued at $1,045,476. This represents a 55.84% decrease in their position. The disclosure for this sale can be found here. Insiders sold 39,500 shares of company stock valued at $7,025,155 over the last ninety days. Insiders own 0.24% of the company’s stock.

Analysts Set New Price Targets

EA has been the subject of a number of analyst reports. DA Davidson upped their price objective on shares of Electronic Arts from $150.00 to $160.00 and gave the company a “neutral” rating in a research note on Monday, August 11th. Cowen lowered shares of Electronic Arts from a “buy” rating to a “hold” rating in a research note on Wednesday, October 1st. DZ Bank lowered shares of Electronic Arts from a “strong-buy” rating to a “strong sell” rating in a research note on Monday, September 29th. Bank of America upped their price objective on shares of Electronic Arts from $166.00 to $168.00 and gave the company a “neutral” rating in a research note on Wednesday, July 30th. Finally, Robert W. Baird reaffirmed a “neutral” rating and set a $210.00 price objective (up from $170.00) on shares of Electronic Arts in a research note on Monday, September 29th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, twenty-five have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $177.00.

Electronic Arts Price Performance

NASDAQ EA opened at $200.20 on Wednesday. The company has a 50 day simple moving average of $178.74 and a 200-day simple moving average of $159.37. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.84 and a quick ratio of 0.84. The firm has a market capitalization of $50.09 billion, a price-to-earnings ratio of 50.18, a price-to-earnings-growth ratio of 3.04 and a beta of 0.77. Electronic Arts Inc. has a 52-week low of $115.21 and a 52-week high of $203.75.

Electronic Arts Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 17th. Stockholders of record on Wednesday, August 27th were given a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date of this dividend was Wednesday, August 27th. Electronic Arts’s dividend payout ratio is 19.05%.

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.