Royal Bank of Canada Purchases 679,032 Shares of Electronic Arts Inc. (NASDAQ:EA)

Royal Bank of Canada raised its holdings in shares of Electronic Arts Inc. (NASDAQ:EA) by 130.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,201,353 shares of the game software company’s stock after purchasing an additional 679,032 shares during the quarter. Royal Bank of Canada’s holdings in Electronic Arts were worth $175,758,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of EA. Whipplewood Advisors LLC purchased a new stake in shares of Electronic Arts in the fourth quarter worth approximately $32,000. LGT Financial Advisors LLC purchased a new stake in Electronic Arts in the 4th quarter valued at $33,000. Millstone Evans Group LLC purchased a new stake in Electronic Arts in the 4th quarter valued at $37,000. SBI Securities Co. Ltd. bought a new position in Electronic Arts during the 4th quarter valued at $41,000. Finally, OFI Invest Asset Management purchased a new position in Electronic Arts during the 4th quarter worth $42,000. Institutional investors and hedge funds own 90.23% of the company’s stock.

Electronic Arts Price Performance

Shares of NASDAQ:EA opened at $151.54 on Monday. The firm has a market capitalization of $38.00 billion, a PE ratio of 38.56, a P/E/G ratio of 3.58 and a beta of 0.74. 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 company has a 50-day moving average price of $144.51 and a two-hundred day moving average price of $144.98. Electronic Arts Inc. has a twelve month low of $115.21 and a twelve month high of $168.50.

Electronic Arts Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 18th. Investors of record on Wednesday, May 28th will be paid a dividend of $0.19 per share. 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, May 28th. Electronic Arts’s payout ratio is currently 17.92%.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. HSBC upgraded shares of Electronic Arts from a “hold” rating to a “buy” rating and set a $190.00 target price for the company in a report on Wednesday, May 7th. Benchmark increased their price objective on shares of Electronic Arts from $160.00 to $180.00 and gave the company a “buy” rating in a research note on Wednesday, May 7th. Bank of America lifted their target price on shares of Electronic Arts from $130.00 to $132.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 5th. DA Davidson assumed coverage on Electronic Arts in a research note on Wednesday, February 19th. They issued a “neutral” rating and a $140.00 target price on the stock. Finally, JPMorgan Chase & Co. increased their price target on Electronic Arts from $135.00 to $160.00 and gave the company a “neutral” rating in a research report on Wednesday, May 7th. Fifteen investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Electronic Arts currently has an average rating of “Hold” and an average target price of $161.83.

Insider Buying and Selling

In related news, insider Vijayanthimala Singh sold 1,000 shares of the stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $145.00, for a total transaction of $145,000.00. Following the sale, the insider now owns 26,216 shares of the company’s stock, valued at approximately $3,801,320. This represents a 3.67% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Andrew Wilson sold 5,000 shares of the firm’s stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $130.14, for a total value of $650,700.00. Following the completion of the transaction, the chief executive officer now owns 37,615 shares of the company’s stock, valued at approximately $4,895,216.10. This represents a 11.73% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 23,500 shares of company stock valued at $3,342,580. Company insiders own 0.22% of the company’s stock.

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.