Cibc World Market Inc. Buys 13,420 Shares of Electronic Arts Inc. $EA

Cibc World Market Inc. grew its stake in Electronic Arts Inc. (NASDAQ:EA) by 10.9% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 136,741 shares of the game software company’s stock after purchasing an additional 13,420 shares during the quarter. Cibc World Market Inc. owned approximately 0.05% of Electronic Arts worth $27,581,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of EA. Salomon & Ludwin LLC raised its holdings in Electronic Arts by 70.1% in the 2nd quarter. Salomon & Ludwin LLC now owns 165 shares of the game software company’s stock valued at $26,000 after acquiring an additional 68 shares during the period. MTM Investment Management LLC acquired a new position in shares of Electronic Arts in the second quarter valued at approximately $30,000. Oakworth Capital Inc. acquired a new position in shares of Electronic Arts in the third quarter valued at approximately $30,000. NewSquare Capital LLC increased its stake in shares of Electronic Arts by 67.5% during the second quarter. NewSquare Capital LLC now owns 196 shares of the game software company’s stock worth $31,000 after purchasing an additional 79 shares during the period. Finally, E Fund Management Hong Kong Co. Ltd. increased its stake in shares of Electronic Arts by 131.9% during the third quarter. E Fund Management Hong Kong Co. Ltd. now owns 167 shares of the game software company’s stock worth $34,000 after purchasing an additional 95 shares during the period. Institutional investors own 90.23% of the company’s stock.

Insider Transactions at Electronic Arts

In other news, insider Vijayanthimala Singh sold 1,200 shares of the stock in a transaction dated Thursday, January 15th. The shares were sold at an average price of $204.30, for a total value of $245,160.00. Following the completion of the transaction, the insider owned 32,360 shares of the company’s stock, valued at approximately $6,611,148. This represents a 3.58% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Jeff Huber sold 79,381 shares of Electronic Arts stock in a transaction that occurred on Friday, November 21st. The shares were sold at an average price of $201.17, for a total transaction of $15,969,075.77. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 123,769 shares of company stock valued at $24,943,734. Company insiders own 0.24% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on EA shares. Argus set a $210.00 price target on Electronic Arts in a research note on Thursday, October 30th. Benchmark reissued a “buy” rating on shares of Electronic Arts in a research report on Wednesday, October 29th. Morgan Stanley upped their price target on shares of Electronic Arts from $148.00 to $210.00 and gave the company an “equal weight” rating in a research note on Monday, October 20th. Citigroup dropped their price objective on shares of Electronic Arts from $207.00 to $202.00 and set a “neutral” rating for the company in a research note on Wednesday, February 4th. Finally, UBS Group restated a “neutral” rating on shares of Electronic Arts in a research report on Wednesday, February 4th. Four equities research analysts have rated the stock with a Buy rating, nineteen have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Electronic Arts has an average rating of “Hold” and a consensus target price of $186.95.

Electronic Arts Stock Down 0.2%

NASDAQ EA opened at $202.24 on Thursday. The business has a fifty day moving average price of $203.59 and a two-hundred day moving average price of $191.90. The stock has a market capitalization of $50.61 billion, a PE ratio of 76.03, a PEG ratio of 2.44 and a beta of 0.74. Electronic Arts Inc. has a fifty-two week low of $128.02 and a fifty-two week high of $204.88. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.93 and a quick ratio of 0.93.

Electronic Arts Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 18th. Shareholders of record on Wednesday, February 25th will be given a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date is Wednesday, February 25th. Electronic Arts’s payout ratio is currently 28.57%.

Electronic Arts Company Profile

Electronic Arts Inc (NASDAQ: EA) is a global interactive entertainment company headquartered in Redwood City, California. Founded in 1982 by Trip Hawkins, EA develops, publishes and distributes video games and related content for a variety of platforms, including consoles, personal computers and mobile devices. The company combines in-house development, partnerships and studio acquisitions to create and maintain a portfolio of entertainment properties and live-service experiences for players worldwide.

EA’s product lineup spans several well-known franchises and genres.