Baron Wealth Management LLC Takes Position in Electronic Arts Inc. (NASDAQ:EA)

Baron Wealth Management LLC acquired a new stake in Electronic Arts Inc. (NASDAQ:EA) during the 3rd quarter, HoldingsChannel.com reports. The institutional investor acquired 1,800 shares of the game software company’s stock, valued at approximately $258,000.

Other large investors also recently modified their holdings of the company. Ashton Thomas Securities LLC acquired a new position in Electronic Arts during the 3rd quarter worth $25,000. Opal Wealth Advisors LLC acquired a new position in Electronic Arts during the 2nd quarter worth $28,000. Family Firm Inc. acquired a new position in Electronic Arts during the 2nd quarter worth $33,000. New Covenant Trust Company N.A. acquired a new position in Electronic Arts during the 1st quarter worth $35,000. Finally, Reston Wealth Management LLC acquired a new position in shares of Electronic Arts in the 3rd quarter valued at $36,000. 90.23% of the stock is currently owned by institutional investors.

Electronic Arts Stock Up 1.6 %

NASDAQ EA opened at $164.01 on Tuesday. The business has a fifty day moving average price of $147.57 and a two-hundred day moving average price of $142.90. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.43 and a quick ratio of 1.43. Electronic Arts Inc. has a fifty-two week low of $124.92 and a fifty-two week high of $164.45. The stock has a market capitalization of $43.02 billion, a PE ratio of 42.16, a PEG ratio of 2.11 and a beta of 0.78.

Electronic Arts Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Wednesday, November 27th will be paid a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 0.46%. The ex-dividend date is Wednesday, November 27th. Electronic Arts’s payout ratio is presently 19.54%.

Wall Street Analyst Weigh In

EA has been the topic of several recent research reports. BMO Capital Markets restated an “outperform” rating and issued a $160.00 price target (up from $154.00) on shares of Electronic Arts in a research report on Wednesday, October 30th. Stifel Nicolaus lifted their target price on Electronic Arts from $165.00 to $167.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. Bank of America lifted their target price on Electronic Arts from $150.00 to $170.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. Raymond James lifted their target price on Electronic Arts from $155.00 to $170.00 and gave the stock an “outperform” rating in a report on Wednesday, July 31st. Finally, StockNews.com raised Electronic Arts from a “buy” rating to a “strong-buy” rating in a research note on Thursday, October 31st. 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 stock. According to data from MarketBeat, Electronic Arts presently has a consensus rating of “Moderate Buy” and an average price target of $165.37.

Insiders Place Their Bets

In related news, insider Laura Miele sold 2,500 shares of the stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $158.03, for a total value of $395,075.00. Following the completion of the sale, the insider now directly owns 50,433 shares in the company, valued at $7,969,926.99. This represents a 4.72 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Jacob J. Schatz sold 1,500 shares of the stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $149.32, for a total value of $223,980.00. Following the completion of the sale, the executive vice president now owns 27,860 shares of the company’s stock, valued at $4,160,055.20. The trade was a 5.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 24,884 shares of company stock worth $3,699,335 over the last three months. Insiders own 0.22% of the company’s stock.

About Electronic Arts

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.