Palouse Capital Management Inc. Raises Holdings in Electronic Arts Inc. (NASDAQ:EA)

Palouse Capital Management Inc. lifted its position in shares of Electronic Arts Inc. (NASDAQ:EA) by 22.8% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 9,477 shares of the game software company’s stock after acquiring an additional 1,759 shares during the quarter. Palouse Capital Management Inc.’s holdings in Electronic Arts were worth $1,320,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in EA. North Star Investment Management Corp. raised its holdings in Electronic Arts by 333.3% during the 1st quarter. North Star Investment Management Corp. now owns 195 shares of the game software company’s stock valued at $26,000 after acquiring an additional 150 shares during the period. Cape Investment Advisory Inc. lifted its holdings in Electronic Arts by 102.0% during the 4th 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 in the last quarter. Redmont Wealth Advisors LLC bought a new position in Electronic Arts in the 1st quarter worth about $27,000. Opal Wealth Advisors LLC purchased a new position in Electronic Arts during the 2nd quarter valued at about $28,000. Finally, YHB Investment Advisors Inc. purchased a new position in Electronic Arts during the 1st quarter valued at about $30,000. Hedge funds and other institutional investors own 90.23% of the company’s stock.

Electronic Arts Trading Down 1.5 %

Shares of EA opened at $140.45 on Thursday. Electronic Arts Inc. has a fifty-two week low of $117.47 and a fifty-two week high of $153.51. The firm has a market cap of $37.32 billion, a price-to-earnings ratio of 30.01, a PEG ratio of 1.97 and a beta of 0.79. The firm has a 50 day moving average price of $146.44 and a 200-day moving average price of $137.66. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.45 and a current ratio of 1.45.

Electronic Arts (NASDAQ:EA) last posted its quarterly earnings results on Tuesday, July 30th. The game software company reported $0.09 earnings per share for the quarter, topping the consensus estimate of $0.03 by $0.06. Electronic Arts had a net margin of 15.77% and a return on equity of 16.34%. The business had revenue of $1.26 billion during the quarter, compared to the consensus estimate of $1.21 billion. As a group, equities research analysts forecast that Electronic Arts Inc. will post 5.89 earnings per share for the current year.

Electronic Arts Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 18th. Shareholders of record on Wednesday, August 28th were paid a $0.19 dividend. The ex-dividend date of this dividend was Wednesday, August 28th. This represents a $0.76 dividend on an annualized basis and a yield of 0.54%. Electronic Arts’s dividend payout ratio (DPR) is currently 16.24%.

Insiders Place Their Bets

In other Electronic Arts news, CEO Andrew Wilson sold 2,500 shares of the stock in a transaction on Tuesday, June 25th. The shares were sold at an average price of $140.26, for a total transaction of $350,650.00. Following the completion of the sale, the chief executive officer now owns 61,747 shares of the company’s stock, valued at approximately $8,660,634.22. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, insider Vijayanthimala Singh sold 1,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $151.70, for a total transaction of $151,700.00. Following the transaction, the insider now directly owns 30,190 shares of the company’s stock, valued at $4,579,823. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Andrew Wilson sold 2,500 shares of the firm’s stock in a transaction on Tuesday, June 25th. The stock was sold at an average price of $140.26, for a total value of $350,650.00. Following the completion of the sale, the chief executive officer now directly owns 61,747 shares of the company’s stock, valued at approximately $8,660,634.22. The disclosure for this sale can be found here. Insiders have sold 28,570 shares of company stock valued at $4,183,508 in the last ninety days. Company insiders own 0.22% of the company’s stock.

Analysts Set New Price Targets

EA has been the subject of a number of analyst reports. Benchmark restated a “buy” rating and issued a $163.00 price objective on shares of Electronic Arts in a research report on Wednesday. BMO Capital Markets reissued an “outperform” rating and issued a $154.00 price target on shares of Electronic Arts in a report on Tuesday, July 30th. Oppenheimer upped their price target on shares of Electronic Arts from $150.00 to $170.00 and gave the stock an “outperform” rating in a report on Tuesday, July 16th. Robert W. Baird lifted their price objective on Electronic Arts from $150.00 to $170.00 and gave the company an “outperform” rating in a research note on Wednesday, July 31st. Finally, Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $160.00 target price on shares of Electronic Arts in a research note on Wednesday. Nine research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $161.83.

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.