Parallel Advisors LLC Purchases 1,182 Shares of Electronic Arts Inc. $EA

Parallel Advisors LLC boosted its position in Electronic Arts Inc. (NASDAQ:EA) by 36.4% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,430 shares of the game software company’s stock after acquiring an additional 1,182 shares during the quarter. Parallel Advisors LLC’s holdings in Electronic Arts were worth $708,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in Electronic Arts by 0.5% in the first quarter. Vanguard Group Inc. now owns 29,052,085 shares of the game software company’s stock valued at $4,198,607,000 after acquiring an additional 150,438 shares during the last quarter. Independent Franchise Partners LLP increased its stake in Electronic Arts by 2.3% in the first quarter. Independent Franchise Partners LLP now owns 3,945,702 shares of the game software company’s stock valued at $570,233,000 after acquiring an additional 88,767 shares during the last quarter. Invesco Ltd. increased its stake in Electronic Arts by 15.6% in the first quarter. Invesco Ltd. now owns 3,733,481 shares of the game software company’s stock valued at $539,563,000 after acquiring an additional 504,760 shares during the last quarter. Goldman Sachs Group Inc. increased its stake in Electronic Arts by 62.7% in the first quarter. Goldman Sachs Group Inc. now owns 3,253,505 shares of the game software company’s stock valued at $470,197,000 after acquiring an additional 1,254,194 shares during the last quarter. Finally, Ameriprise Financial Inc. increased its stake in Electronic Arts by 197.5% in the first quarter. Ameriprise Financial Inc. now owns 2,916,693 shares of the game software company’s stock valued at $421,524,000 after acquiring an additional 1,936,313 shares during the last quarter. Institutional investors own 90.23% of the company’s stock.

Wall Street Analyst Weigh In

EA has been the topic of a number of recent research reports. Wedbush reaffirmed an “outperform” rating and set a $210.00 price objective on shares of Electronic Arts in a research note on Monday, August 25th. Roth Capital upgraded Electronic Arts from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $175.00 to $185.00 in a report on Tuesday, June 24th. Bank of America lifted their price objective on Electronic Arts from $166.00 to $168.00 and gave the stock a “neutral” rating in a report on Wednesday, July 30th. Wells Fargo & Company set a $168.00 price objective on Electronic Arts and gave the stock an “equal weight” rating in a report on Monday, July 28th. Finally, Arete Research set a $192.00 price objective on Electronic Arts in a report on Tuesday, August 5th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and fourteen have given a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $167.40.

Insider Activity at Electronic Arts

In other news, EVP Jacob J. Schatz sold 1,500 shares of the firm’s stock in a transaction that occurred on Tuesday, July 15th. The shares were sold at an average price of $148.32, for a total transaction of $222,480.00. Following the transaction, the executive vice president directly owned 28,448 shares of the company’s stock, valued at approximately $4,219,407.36. This trade represents a 5.01% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Vijayanthimala Singh sold 1,200 shares of the firm’s stock in a transaction that occurred on Monday, September 15th. The stock was sold at an average price of $171.52, for a total transaction of $205,824.00. Following the transaction, the insider directly owned 34,731 shares in the company, valued at approximately $5,957,061.12. This trade represents a 3.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 25,800 shares of company stock valued at $4,214,010. 0.24% of the stock is owned by insiders.

Electronic Arts Stock Performance

Electronic Arts stock opened at $173.17 on Friday. The firm has a market capitalization of $43.33 billion, a P/E ratio of 43.40, a price-to-earnings-growth ratio of 2.64 and a beta of 0.75. The company’s 50-day moving average is $164.59 and its 200 day moving average is $152.85. Electronic Arts Inc. has a 1-year low of $115.21 and a 1-year high of $180.90. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.84 and a quick ratio of 0.84.

Electronic Arts Announces Dividend

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

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.