Baird Financial Group Inc. Boosts Stock Holdings in Electronic Arts Inc. (NASDAQ:EA)

Baird Financial Group Inc. boosted its position in shares of Electronic Arts Inc. (NASDAQ:EA) by 53.3% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 186,582 shares of the game software company’s stock after buying an additional 64,841 shares during the period. Baird Financial Group Inc.’s holdings in Electronic Arts were worth $26,836,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Berman Capital Advisors LLC boosted its holdings in shares of Electronic Arts by 81.7% during the 2nd quarter. Berman Capital Advisors LLC now owns 1,441 shares of the game software company’s stock worth $207,000 after purchasing an additional 648 shares during the last quarter. Heritage Wealth Management LLC boosted its holdings in shares of Electronic Arts by 122.2% during the 2nd quarter. Heritage Wealth Management LLC now owns 200 shares of the game software company’s stock worth $29,000 after purchasing an additional 110 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of Electronic Arts by 4.9% during the 2nd quarter. Bank of New York Mellon Corp now owns 2,515,596 shares of the game software company’s stock worth $361,818,000 after purchasing an additional 118,536 shares during the last quarter. Mackenzie Financial Corp boosted its holdings in shares of Electronic Arts by 46.7% during the 2nd quarter. Mackenzie Financial Corp now owns 89,289 shares of the game software company’s stock worth $12,842,000 after purchasing an additional 28,408 shares during the last quarter. Finally, Eagle Asset Management Inc. lifted its holdings in Electronic Arts by 3.3% in the second quarter. Eagle Asset Management Inc. now owns 7,600 shares of the game software company’s stock valued at $1,093,000 after acquiring an additional 240 shares during the last quarter. Institutional investors own 88.68% of the company’s stock.

A number of research analysts recently commented on the company. Wedbush upped their price objective on Electronic Arts from $175.00 to $194.00 and gave the company an “outperform” rating in a report on Thursday, August 5th. KeyCorp decreased their price objective on Electronic Arts from $180.00 to $175.00 and set an “overweight” rating on the stock in a report on Wednesday, July 28th. TheStreet upgraded Electronic Arts from a “c+” rating to a “b” rating in a report on Wednesday, August 4th. Berenberg Bank upped their price objective on Electronic Arts from $160.00 to $170.00 and gave the company a “buy” rating in a report on Tuesday, July 13th. Finally, Raymond James upped their price objective on Electronic Arts from $164.00 to $177.00 and gave the company an “outperform” rating in a report on Thursday, August 5th. Ten equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $162.85.

In other Electronic Arts news, EVP Chris Bruzzo sold 2,500 shares of the firm’s stock in a transaction dated Wednesday, September 1st. The stock was sold at an average price of $146.25, for a total transaction of $365,625.00. Following the transaction, the executive vice president now owns 22,158 shares of the company’s stock, valued at $3,240,607.50. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Andrew Wilson sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, September 21st. The stock was sold at an average price of $127.63, for a total value of $1,276,300.00. The disclosure for this sale can be found here. Insiders sold 51,845 shares of company stock worth $7,229,811 in the last three months. 0.65% of the stock is currently owned by corporate insiders.

Electronic Arts stock opened at $129.90 on Friday. The firm has a market capitalization of $36.97 billion, a P/E ratio of 55.99 and a beta of 0.90. The stock’s fifty day simple moving average is $140.33 and its 200-day simple moving average is $140.14. The company has a current ratio of 1.89, a quick ratio of 1.89 and a debt-to-equity ratio of 0.24. Electronic Arts Inc. has a twelve month low of $110.15 and a twelve month high of $150.30.

Electronic Arts (NASDAQ:EA) last posted its earnings results on Tuesday, August 3rd. The game software company reported $0.79 EPS for the quarter, beating the consensus estimate of $0.27 by $0.52. The firm had revenue of $1.34 billion for the quarter, compared to analyst estimates of $1.28 billion. Electronic Arts had a return on equity of 13.81% and a net margin of 11.82%. Electronic Arts’s revenue for the quarter was down 3.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.25 earnings per share. Sell-side analysts predict that Electronic Arts Inc. will post 5.11 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 22nd. Investors of record on Wednesday, September 1st were issued a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 0.52%. The ex-dividend date of this dividend was Tuesday, August 31st. Electronic Arts’s dividend payout ratio (DPR) is presently 14.98%.

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, Anthem, Need for Speed, and Plants v.

Further Reading: Average Daily Trade Volume Explained

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Institutional Ownership by Quarter for Electronic Arts (NASDAQ:EA)

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