Amundi Pioneer Asset Management Inc. grew its position in shares of Electronic Arts Inc. (NASDAQ:EA) by 3.7% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 2,547,804 shares of the game software company’s stock after acquiring an additional 91,817 shares during the period. Amundi Pioneer Asset Management Inc. owned about 0.89% of Electronic Arts worth $365,864,000 at the end of the most recent quarter.
Several other hedge funds have also recently bought and sold shares of the business. Public Investment Fund bought a new position in shares of Electronic Arts in the 4th quarter worth about $1,065,538,000. BlackRock Inc. lifted its holdings in shares of Electronic Arts by 13.6% during the fourth quarter. BlackRock Inc. now owns 22,993,496 shares of the game software company’s stock valued at $3,301,866,000 after purchasing an additional 2,747,815 shares during the last quarter. Norges Bank purchased a new stake in shares of Electronic Arts in the 4th quarter worth approximately $365,597,000. Alliancebernstein L.P. grew its stake in shares of Electronic Arts by 23.1% in the 4th quarter. Alliancebernstein L.P. now owns 11,314,902 shares of the game software company’s stock worth $1,624,820,000 after buying an additional 2,125,286 shares during the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec increased its position in Electronic Arts by 9,575.0% during the 4th quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,774,401 shares of the game software company’s stock valued at $254,804,000 after buying an additional 1,756,061 shares in the last quarter. Hedge funds and other institutional investors own 87.95% of the company’s stock.
EA has been the subject of several analyst reports. Wells Fargo & Company raised their price target on Electronic Arts from $145.00 to $165.00 and gave the company an “equal weight” rating in a report on Wednesday, February 3rd. Atlantic Securities lowered shares of Electronic Arts from an “overweight” rating to a “neutral” rating and set a $155.00 price objective for the company. in a research note on Thursday, February 4th. Barclays lifted their target price on shares of Electronic Arts from $124.00 to $145.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 3rd. JPMorgan Chase & Co. cut shares of Electronic Arts from an “overweight” rating to a “neutral” rating and set a $155.00 price target on the stock. in a report on Wednesday, December 16th. They noted that the move was a valuation call. Finally, The Goldman Sachs Group upgraded shares of Electronic Arts from a “neutral” rating to a “buy” rating and set a $170.00 price objective for the company in a report on Sunday, January 24th. Twelve research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $152.23.
Electronic Arts (NASDAQ:EA) last issued its quarterly earnings results on Monday, February 1st. The game software company reported $3.06 EPS for the quarter, topping analysts’ consensus estimates of $2.96 by $0.10. The business had revenue of $2.40 billion during the quarter, compared to analysts’ expectations of $2.38 billion. Electronic Arts had a return on equity of 17.85% and a net margin of 23.51%. The business’s quarterly revenue was up 18.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.52 earnings per share. On average, equities research analysts expect that Electronic Arts Inc. will post 4.14 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 24th. Investors of record on Wednesday, March 3rd were issued a $0.17 dividend. The ex-dividend date was Tuesday, March 2nd. This represents a $0.68 dividend on an annualized basis and a yield of 0.48%. Electronic Arts’s dividend payout ratio is presently 14.29%.
In other Electronic Arts news, CFO Blake J. Jorgensen sold 5,975 shares of the firm’s stock in a transaction that occurred on Wednesday, January 13th. The stock was sold at an average price of $136.75, for a total transaction of $817,081.25. Following the completion of the transaction, the chief financial officer now owns 52,293 shares in the company, valued at approximately $7,151,067.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Vijayanthimala Singh sold 800 shares of Electronic Arts stock in a transaction that occurred on Thursday, April 1st. The stock was sold at an average price of $136.73, for a total value of $109,384.00. Following the completion of the sale, the insider now directly owns 20,110 shares in the company, valued at approximately $2,749,640.30. The disclosure for this sale can be found here. Insiders sold a total of 111,710 shares of company stock valued at $16,312,390 over the last 90 days. 0.92% of the stock is currently owned by corporate insiders.
About Electronic Arts
Electronic Arts Inc develops, markets, publishes, and distributes games, content, and services for game consoles, PCs, mobile phones, and tablets worldwide. The company develops and publishes games and services across various genres, such as sports, first-person shooter, action, role-playing, and simulation primarily under the Battlefield, The Sims, Apex Legends, Need for Speed, and Plants v.
Read More: What is the Beige Book?
Receive News & Ratings for Electronic Arts Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Electronic Arts and related companies with MarketBeat.com's FREE daily email newsletter.