Grove Bank & Trust Buys 94 Shares of Electronic Arts Inc. (NASDAQ:EA)

Grove Bank & Trust grew its stake in shares of Electronic Arts Inc. (NASDAQ:EA) by 23.5% during the second quarter, Holdings Channel.com reports. The institutional investor owned 494 shares of the game software company’s stock after acquiring an additional 94 shares during the quarter. Grove Bank & Trust’s holdings in Electronic Arts were worth $69,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Jennison Associates LLC raised its position in shares of Electronic Arts by 1.3% during the fourth quarter. Jennison Associates LLC now owns 6,339 shares of the game software company’s stock worth $867,000 after purchasing an additional 84 shares during the period. B. Riley Wealth Advisors Inc. raised its position in shares of Electronic Arts by 4.6% during the first quarter. B. Riley Wealth Advisors Inc. now owns 2,194 shares of the game software company’s stock worth $291,000 after purchasing an additional 97 shares during the period. Claro Advisors LLC raised its position in shares of Electronic Arts by 5.6% during the first quarter. Claro Advisors LLC now owns 1,881 shares of the game software company’s stock worth $250,000 after purchasing an additional 100 shares during the period. Cape Investment Advisory Inc. raised its position in shares of Electronic Arts by 102.0% during the fourth 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 period. Finally, Avantax Advisory Services Inc. raised its position in shares of Electronic Arts by 3.4% during the fourth quarter. Avantax Advisory Services Inc. now owns 3,188 shares of the game software company’s stock worth $436,000 after purchasing an additional 105 shares during the period. Institutional investors own 90.23% of the company’s stock.

Wall Street Analyst Weigh In

EA has been the topic of a number of research analyst reports. Benchmark raised their price target on Electronic Arts from $153.00 to $163.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Robert W. Baird lifted their target price on Electronic Arts from $150.00 to $170.00 and gave the company an “outperform” rating in a research report on Wednesday, July 31st. TD Cowen lifted their target price on Electronic Arts from $163.00 to $183.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. Wedbush lifted their target price on Electronic Arts from $162.00 to $170.00 and gave the company an “outperform” rating in a research report on Wednesday, July 31st. Finally, Jefferies Financial Group began coverage on Electronic Arts in a research report on Thursday, July 11th. They issued a “buy” rating and a $165.00 target price on the stock. Nine equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $161.28.

Insider Activity at Electronic Arts

In other news, CFO Stuart Canfield sold 1,260 shares of the business’s stock in a transaction that occurred on 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 in the company, valued at approximately $1,120,638.61. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, CFO Stuart Canfield sold 1,260 shares of the business’s stock in a transaction that occurred on 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 in the company, valued at approximately $1,120,638.61. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Luis A. Ubinas sold 2,126 shares of the business’s stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $146.77, for a total transaction of $312,033.02. The disclosure for this sale can be found here. Insiders sold a total of 17,986 shares of company stock valued at $2,545,726 over the last quarter. 0.22% of the stock is owned by corporate insiders.

Electronic Arts Price Performance

Shares of NASDAQ EA traded up $0.49 during midday trading on Friday, reaching $147.62. The company’s stock had a trading volume of 1,477,500 shares, compared to its average volume of 2,134,170. The company has a market cap of $39.23 billion, a P/E ratio of 31.54, a P/E/G ratio of 2.28 and a beta of 0.79. Electronic Arts Inc. has a fifty-two week low of $117.47 and a fifty-two week high of $153.51. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.37 and a current ratio of 1.45. The business’s 50 day moving average price is $143.80 and its two-hundred day moving average price is $136.96.

Electronic Arts Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 18th. Stockholders of record on Wednesday, August 28th will be issued a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a dividend yield of 0.51%. The ex-dividend date of this dividend is Wednesday, August 28th. Electronic Arts’s dividend payout ratio (DPR) is currently 16.24%.

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.