NorthCrest Asset Manangement LLC Purchases 1,579 Shares of Electronic Arts Inc. (NASDAQ:EA)

NorthCrest Asset Manangement LLC grew its position in Electronic Arts Inc. (NASDAQ:EA) by 5.0% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 32,967 shares of the game software company’s stock after purchasing an additional 1,579 shares during the quarter. NorthCrest Asset Manangement LLC’s holdings in Electronic Arts were worth $4,593,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of EA. North Star Investment Management Corp. raised its position in Electronic Arts by 333.3% during the first quarter. North Star Investment Management Corp. now owns 195 shares of the game software company’s stock worth $26,000 after acquiring an additional 150 shares during the period. Cape Investment Advisory Inc. raised its position in shares of Electronic Arts by 102.0% during the 4th quarter. Cape Investment Advisory Inc. now owns 200 shares of the game software company’s stock worth $27,000 after purchasing an additional 101 shares during the last quarter. Redmont Wealth Advisors LLC purchased a new position in Electronic Arts in the 1st quarter valued at about $27,000. Opal Wealth Advisors LLC acquired a new stake in Electronic Arts in the 2nd quarter worth about $28,000. Finally, Larson Financial Group LLC acquired a new stake in Electronic Arts in the 4th quarter worth about $30,000. Hedge funds and other institutional investors own 90.23% of the company’s stock.

Analyst Ratings Changes

EA has been the topic of several research reports. Raymond James raised their price target on shares of Electronic Arts from $155.00 to $170.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 31st. Morgan Stanley raised their target price on Electronic Arts from $140.00 to $150.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 23rd. TD Cowen increased their price target on shares of Electronic Arts from $163.00 to $183.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. BMO Capital Markets reiterated an “outperform” rating and issued a $154.00 price objective on shares of Electronic Arts in a report on Tuesday, July 30th. Finally, StockNews.com raised Electronic Arts from a “hold” rating to a “buy” rating in a research note on Wednesday, June 26th. Nine analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $160.16.

Insider Buying and Selling

In related news, CAO Eric Charles Kelly sold 3,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 22nd. The shares were sold at an average price of $133.75, for a total transaction of $401,250.00. Following the sale, the chief accounting officer now owns 7,458 shares in the company, valued at $997,507.50. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Electronic Arts news, CAO Eric Charles Kelly sold 3,000 shares of the business’s stock in a transaction dated Wednesday, May 22nd. The stock was sold at an average price of $133.75, for a total transaction of $401,250.00. Following the completion of the sale, the chief accounting officer now owns 7,458 shares of the company’s stock, valued at $997,507.50. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Andrew Wilson sold 2,500 shares of the business’s stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $132.24, for a total value of $330,600.00. Following the sale, the chief executive officer now owns 64,247 shares of the company’s stock, valued at approximately $8,496,023.28. The disclosure for this sale can be found here. Insiders sold 24,365 shares of company stock worth $3,382,352 in the last ninety days. Insiders own 0.22% of the company’s stock.

Electronic Arts Stock Performance

Shares of EA traded down $1.02 during mid-day trading on Wednesday, reaching $145.88. 148,620 shares of the company’s stock were exchanged, compared to its average volume of 2,156,166. The business’s fifty day simple moving average is $141.95 and its 200-day simple moving average is $136.34. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.45 and a quick ratio of 1.37. The stock has a market capitalization of $38.77 billion, a PE ratio of 31.39, a price-to-earnings-growth ratio of 2.28 and a beta of 0.79. Electronic Arts Inc. has a 52-week low of $117.47 and a 52-week high of $153.51.

Electronic Arts Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 18th. Stockholders of record on Wednesday, August 28th will be paid a dividend of $0.19 per share. The ex-dividend date is Wednesday, August 28th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 0.52%. Electronic Arts’s dividend payout ratio (DPR) is 16.24%.

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.