CIBC Asset Management Inc Buys 3,600 Shares of Electronic Arts Inc. (NASDAQ:EA)

CIBC Asset Management Inc grew its stake in shares of Electronic Arts Inc. (NASDAQ:EA) by 4.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 80,004 shares of the game software company’s stock after buying an additional 3,600 shares during the period. CIBC Asset Management Inc’s holdings in Electronic Arts were worth $11,476,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of EA. Vanguard Group Inc. raised its position in shares of Electronic Arts by 14.7% during the first quarter. Vanguard Group Inc. now owns 29,159,718 shares of the game software company’s stock valued at $3,868,620,000 after buying an additional 3,727,251 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position in Electronic Arts by 496.9% in the first quarter. Price T Rowe Associates Inc. MD now owns 2,511,250 shares of the game software company’s stock worth $333,169,000 after purchasing an additional 2,090,504 shares during the last quarter. Swedbank AB bought a new stake in Electronic Arts in the first quarter worth $201,935,000. Jericho Capital Asset Management L.P. bought a new stake in Electronic Arts in the first quarter worth $189,055,000. Finally, Manning & Napier Advisors LLC bought a new stake in Electronic Arts in the second quarter worth $188,159,000. Institutional investors own 90.23% of the company’s stock.

Insider Buying and Selling at Electronic Arts

In other news, insider Vijayanthimala Singh sold 7,384 shares of the company’s stock in a transaction dated Wednesday, August 28th. The shares were sold at an average price of $149.91, for a total transaction of $1,106,935.44. Following the transaction, the insider now owns 31,190 shares in the company, valued at $4,675,692.90. This represents a 19.14 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Stuart Canfield sold 1,260 shares of the company’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $148.37, for a total transaction of $186,946.20. Following the transaction, the chief financial officer now owns 7,553 shares in the company, valued at approximately $1,120,638.61. This trade represents a 14.30 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 26,144 shares of company stock valued at $3,886,282. 0.22% of the stock is currently owned by insiders.

Electronic Arts Stock Performance

EA stock opened at $161.36 on Friday. The firm has a market cap of $42.32 billion, a price-to-earnings ratio of 41.48, a PEG ratio of 2.13 and a beta of 0.78. The firm has a 50-day simple moving average of $147.17 and a two-hundred day simple moving average of $142.55. Electronic Arts Inc. has a one year low of $124.92 and a one year high of $164.42. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.43 and a current ratio of 1.43.

Electronic Arts Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Wednesday, November 27th will be given a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a dividend yield of 0.47%. The ex-dividend date is Wednesday, November 27th. Electronic Arts’s payout ratio is 19.54%.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on EA. Robert W. Baird boosted their price target on shares of Electronic Arts from $170.00 to $175.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. UBS Group boosted their price target on shares of Electronic Arts from $155.00 to $160.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. Roth Mkm boosted their price objective on shares of Electronic Arts from $154.00 to $158.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. DZ Bank upgraded shares of Electronic Arts from a “hold” rating to a “buy” rating and boosted their price objective for the company from $135.00 to $177.00 in a research report on Thursday, October 31st. Finally, Argus boosted their price objective on shares of Electronic Arts from $161.00 to $183.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Eight equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, Electronic Arts has a consensus rating of “Moderate Buy” and a consensus target price of $165.37.

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.