Burney Co. Purchases 2,198 Shares of Electronic Arts Inc. (NASDAQ:EA)

Burney Co. increased its position in shares of Electronic Arts Inc. (NASDAQ:EA) by 11.3% in the fourth quarter, Holdings Channel reports. The institutional investor owned 21,572 shares of the game software company’s stock after buying an additional 2,198 shares during the period. Burney Co.’s holdings in Electronic Arts were worth $3,156,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. D. E. Shaw & Co. Inc. lifted its position in Electronic Arts by 43.3% during the 2nd quarter. D. E. Shaw & Co. Inc. now owns 1,390,418 shares of the game software company’s stock worth $193,727,000 after buying an additional 420,382 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in Electronic Arts by 29.6% during the second quarter. Dimensional Fund Advisors LP now owns 1,548,261 shares of the game software company’s stock worth $215,725,000 after acquiring an additional 354,005 shares in the last quarter. abrdn plc boosted its position in Electronic Arts by 59.2% during the third quarter. abrdn plc now owns 858,840 shares of the game software company’s stock valued at $123,484,000 after purchasing an additional 319,335 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec grew its stake in Electronic Arts by 8,503.9% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 318,085 shares of the game software company’s stock valued at $45,626,000 after purchasing an additional 314,388 shares in the last quarter. Finally, Los Angeles Capital Management LLC acquired a new position in shares of Electronic Arts during the 3rd quarter worth approximately $40,154,000. Institutional investors and hedge funds own 90.23% of the company’s stock.

Wall Street Analyst Weigh In

EA has been the subject of several analyst reports. BMO Capital Markets reissued an “outperform” rating and issued a $160.00 target price (up from $154.00) on shares of Electronic Arts in a research note on Wednesday, October 30th. Wedbush restated an “outperform” rating and set a $170.00 price objective on shares of Electronic Arts in a research note on Friday, October 25th. Argus raised 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, November 7th. Benchmark reaffirmed a “buy” rating and set a $163.00 price objective on shares of Electronic Arts in a research report on Wednesday, October 30th. Finally, BNP Paribas upgraded Electronic Arts to a “strong-buy” rating in a report on Wednesday, October 9th. Eight analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $165.37.

Insider Transactions at Electronic Arts

In other news, EVP Jacob J. Schatz sold 1,500 shares of the firm’s stock in a transaction on Friday, November 15th. The shares were sold at an average price of $163.30, for a total transaction of $244,950.00. Following the completion of the transaction, the executive vice president now owns 23,360 shares of the company’s stock, valued at approximately $3,814,688. This trade represents a 6.03 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Andrew Wilson sold 2,500 shares of Electronic Arts stock in a transaction on Friday, October 25th. The stock was sold at an average price of $145.87, for a total transaction of $364,675.00. Following the transaction, the chief executive officer now owns 51,747 shares in the company, valued at approximately $7,548,334.89. This trade represents a 4.61 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 22,000 shares of company stock worth $3,422,485. Corporate insiders own 0.22% of the company’s stock.

Electronic Arts Trading Up 0.3 %

EA opened at $142.13 on Thursday. The company has a market cap of $37.28 billion, a P/E ratio of 36.54, a PEG ratio of 2.06 and a beta of 0.80. The company has a current ratio of 1.43, a quick ratio of 1.43 and a debt-to-equity ratio of 0.25. The company’s 50 day moving average is $156.39 and its 200-day moving average is $149.11. Electronic Arts Inc. has a 1-year low of $124.92 and a 1-year high of $168.50.

Electronic Arts Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, December 18th. Shareholders of record on Wednesday, November 27th were paid a dividend of $0.19 per share. The ex-dividend date of this dividend was Wednesday, November 27th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 0.53%. Electronic Arts’s payout ratio is presently 19.54%.

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.