Electronic Arts Inc. (NASDAQ:EA) Shares Bought by CIBC Asset Management Inc

CIBC Asset Management Inc increased its holdings in Electronic Arts Inc. (NASDAQ:EA) by 4.7% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 80,004 shares of the game software company’s stock after buying an additional 3,600 shares during the period. CIBC Asset Management Inc’s holdings in Electronic Arts were worth $11,476,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Ashton Thomas Securities LLC purchased a new stake in Electronic Arts in the 3rd quarter worth approximately $25,000. Opal Wealth Advisors LLC purchased a new position in shares of Electronic Arts during the 2nd quarter valued at approximately $28,000. Family Firm Inc. purchased a new position in shares of Electronic Arts during the 2nd quarter valued at approximately $33,000. New Covenant Trust Company N.A. purchased a new position in shares of Electronic Arts during the 1st quarter valued at approximately $35,000. Finally, Reston Wealth Management LLC purchased a new position in shares of Electronic Arts during the 3rd quarter valued at approximately $36,000. Institutional investors and hedge funds own 90.23% of the company’s stock.

Insider Buying and Selling

In other Electronic Arts news, insider Vijayanthimala Singh sold 1,000 shares of Electronic Arts stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $151.70, for a total value of $151,700.00. Following the completion of the transaction, the insider now directly owns 30,190 shares of the company’s stock, valued at $4,579,823. The trade was a 3.21 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Stuart Canfield sold 1,260 shares of Electronic Arts stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $148.37, for a total value of $186,946.20. Following the completion of the transaction, the chief financial officer now directly owns 7,553 shares of the company’s stock, valued at approximately $1,120,638.61. This represents a 14.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 26,144 shares of company stock valued at $3,886,282. 0.22% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on EA. BNP Paribas upgraded Electronic Arts to a “strong-buy” rating in a research report on Wednesday, October 9th. Roth Mkm increased their target price on Electronic Arts from $154.00 to $158.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. JPMorgan Chase & Co. decreased their target price on Electronic Arts from $155.00 to $150.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 30th. Benchmark reiterated a “buy” rating and set a $163.00 target price on shares of Electronic Arts in a research report on Wednesday, October 30th. Finally, Robert W. Baird raised their price objective on Electronic Arts from $170.00 to $175.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Eight equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $165.37.

Electronic Arts Stock Down 1.7 %

Shares of NASDAQ:EA opened at $161.36 on Friday. The business has a 50-day moving average price of $147.17 and a 200 day moving average price of $142.55. The company has a current ratio of 1.43, a quick ratio of 1.43 and a debt-to-equity ratio of 0.25. The company has a market capitalization of $42.32 billion, a price-to-earnings ratio of 41.48, a PEG ratio of 2.13 and a beta of 0.78. Electronic Arts Inc. has a 12-month low of $124.92 and a 12-month high of $164.42.

Electronic Arts Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Wednesday, November 27th will be given a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 0.47%. The ex-dividend date of this dividend is Wednesday, November 27th. Electronic Arts’s payout ratio is 19.54%.

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.