Sompo Asset Management Co. Ltd. Acquires Shares of 1,540 Electronic Arts Inc. (NASDAQ:EA)

Sompo Asset Management Co. Ltd. acquired a new stake in Electronic Arts Inc. (NASDAQ:EA) in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 1,540 shares of the game software company’s stock, valued at approximately $221,000.

Other institutional investors have also recently bought and sold shares of the company. Prime Capital Investment Advisors LLC grew its stake in shares of Electronic Arts by 5.1% during the 3rd quarter. Prime Capital Investment Advisors LLC now owns 1,572 shares of the game software company’s stock worth $225,000 after acquiring an additional 76 shares during the period. Cullen Frost Bankers Inc. lifted its holdings 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 worth $394,000 after purchasing an additional 79 shares in the last quarter. Shepherd Financial Partners LLC lifted its holdings in Electronic Arts by 1.6% during the 3rd quarter. Shepherd Financial Partners LLC now owns 5,690 shares of the game software company’s stock worth $816,000 after purchasing an additional 88 shares in the last quarter. Grove Bank & Trust lifted its holdings in Electronic Arts by 23.5% during the 2nd quarter. Grove Bank & Trust now owns 494 shares of the game software company’s stock worth $69,000 after purchasing an additional 94 shares in the last quarter. Finally, CWM LLC lifted its holdings in Electronic Arts by 1.5% during the 3rd quarter. CWM LLC now owns 6,302 shares of the game software company’s stock worth $904,000 after purchasing an additional 95 shares in the last quarter. Institutional investors own 90.23% of the company’s stock.

Electronic Arts Stock Performance

NASDAQ:EA opened at $166.67 on Monday. The stock has a 50-day simple moving average of $149.36 and a two-hundred day simple moving average of $143.97. Electronic Arts Inc. has a 52-week low of $124.92 and a 52-week high of $168.50. The firm has a market capitalization of $43.71 billion, a PE ratio of 42.85, a P/E/G ratio of 2.19 and a beta of 0.78. 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 announced a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Wednesday, November 27th will be given a $0.19 dividend. The ex-dividend date is Wednesday, November 27th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 0.46%. Electronic Arts’s dividend payout ratio is currently 19.54%.

Wall Street Analyst Weigh In

Several analysts have weighed in on EA shares. TD Cowen raised their price target on Electronic Arts from $163.00 to $183.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. JPMorgan Chase & Co. reduced their price objective on Electronic Arts from $155.00 to $150.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 30th. Raymond James increased their price objective on Electronic Arts from $155.00 to $170.00 and gave the company an “outperform” rating in a research report on Wednesday, July 31st. DZ Bank upgraded Electronic Arts from a “hold” rating to a “buy” rating and increased their price objective for the company from $135.00 to $177.00 in a research report on Thursday, October 31st. Finally, Wedbush reiterated an “outperform” rating and set a $170.00 price objective on shares of Electronic Arts in a research report on Friday, October 25th. Eight research analysts have rated the stock with a hold rating, twelve have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, Electronic Arts has an average rating of “Moderate Buy” and a consensus price target of $165.37.

Insider Buying and Selling

In other Electronic Arts news, CEO Andrew Wilson sold 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $166.47, for a total transaction of $832,350.00. Following the sale, the chief executive officer now directly owns 52,615 shares in the company, valued at $8,758,819.05. This represents a 8.68 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Jacob J. Schatz sold 1,500 shares of the company’s stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $163.30, for a total value of $244,950.00. Following the transaction, the executive vice president now directly owns 23,360 shares in the company, valued at approximately $3,814,688. This represents a 6.03 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 28,884 shares of company stock worth $4,404,435. Corporate insiders own 0.22% of the company’s stock.

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.