Electronic Arts Inc. (NASDAQ:EA) Shares Purchased by Montecito Bank & Trust

Montecito Bank & Trust raised its position in shares of Electronic Arts Inc. (NASDAQ:EA) by 65.9% in the third quarter, HoldingsChannel reports. The firm owned 4,014 shares of the game software company’s stock after acquiring an additional 1,595 shares during the period. Montecito Bank & Trust’s holdings in Electronic Arts were worth $576,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Cullen Frost Bankers Inc. boosted its stake in Electronic Arts by 2.9% during the 2nd quarter. Cullen Frost Bankers Inc. now owns 2,828 shares of the game software company’s stock valued at $394,000 after purchasing an additional 79 shares during the period. Shepherd Financial Partners LLC lifted its stake in shares of Electronic Arts by 1.6% in the 3rd quarter. Shepherd Financial Partners LLC now owns 5,690 shares of the game software company’s stock worth $816,000 after acquiring an additional 88 shares during the period. Grove Bank & Trust lifted its stake in shares of Electronic Arts by 23.5% in the 2nd quarter. Grove Bank & Trust now owns 494 shares of the game software company’s stock worth $69,000 after acquiring an additional 94 shares during the period. CWM LLC lifted its stake in shares of Electronic Arts by 1.5% in the 3rd quarter. CWM LLC now owns 6,302 shares of the game software company’s stock worth $904,000 after acquiring an additional 95 shares during the period. Finally, B. Riley Wealth Advisors Inc. lifted its stake in shares of Electronic Arts by 4.6% in the 1st quarter. B. Riley Wealth Advisors Inc. now owns 2,194 shares of the game software company’s stock worth $291,000 after acquiring an additional 97 shares during the period. 90.23% of the stock is owned by institutional investors and hedge funds.

Electronic Arts Stock Up 1.3 %

Electronic Arts stock opened at $160.00 on Friday. The firm has a market cap of $41.96 billion, a PE ratio of 41.13, a P/E/G ratio of 2.00 and a beta of 0.78. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.45 and a current ratio of 1.43. The firm’s 50 day moving average price is $145.54 and its two-hundred day moving average price is $141.03. Electronic Arts Inc. has a twelve month low of $124.92 and a twelve month high of $160.31.

Electronic Arts Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Wednesday, November 27th will be paid a $0.19 dividend. The ex-dividend date is Wednesday, November 27th. This represents a $0.76 annualized dividend and a yield of 0.48%. Electronic Arts’s dividend payout ratio is presently 19.54%.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on EA. Robert W. Baird upped their price target on shares of Electronic Arts from $170.00 to $175.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Citigroup lowered shares of Electronic Arts from a “buy” rating to a “neutral” rating and increased their target price for the company from $148.00 to $161.00 in a research note on Monday, July 15th. Argus increased their target price on shares of Electronic Arts from $161.00 to $183.00 and gave the company a “buy” rating in a research note on Thursday. BMO Capital Markets reissued an “outperform” rating and set a $160.00 target price (up from $154.00) on shares of Electronic Arts in a research note on Wednesday, October 30th. Finally, UBS Group increased their target price on shares of Electronic Arts from $155.00 to $160.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. Eight research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $165.37.

Insiders Place Their Bets

In other Electronic Arts news, insider Laura Miele sold 2,500 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The shares were 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 of the company’s stock, valued at $7,969,926.99. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Electronic Arts news, insider Laura Miele sold 2,500 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The shares were 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 of the company’s stock, valued at $7,969,926.99. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Vijayanthimala Singh sold 1,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $143.24, for a total transaction of $143,240.00. Following the completion of the sale, the insider now directly owns 29,190 shares of the company’s stock, valued at $4,181,175.60. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 26,144 shares of company stock valued at $3,886,282 over the last ninety days. Corporate 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.