Electronic Arts Inc. $EA Stock Position Lifted by GABELLI & Co INVESTMENT ADVISERS INC.

GABELLI & Co INVESTMENT ADVISERS INC. boosted its stake in shares of Electronic Arts Inc. (NASDAQ:EA) by 9.2% in the 1st quarter, HoldingsChannel reports. The fund owned 137,950 shares of the game software company’s stock after buying an additional 11,650 shares during the quarter. Electronic Arts accounts for 4.2% of GABELLI & Co INVESTMENT ADVISERS INC.’s portfolio, making the stock its biggest position. GABELLI & Co INVESTMENT ADVISERS INC.’s holdings in Electronic Arts were worth $28,124,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of EA. Ascentis Independent Advisors purchased a new position in Electronic Arts in the 1st quarter worth approximately $27,000. MV Capital Management Inc. purchased a new stake in shares of Electronic Arts during the fourth quarter valued at approximately $28,000. Asset Planning Inc purchased a new stake in shares of Electronic Arts during the first quarter valued at approximately $32,000. Whipplewood Advisors LLC bought a new position in shares of Electronic Arts in the first quarter worth approximately $32,000. Finally, Fideuram Asset Management Ireland dac bought a new position in shares of Electronic Arts in the fourth quarter worth approximately $44,000. 90.23% of the stock is currently owned by institutional investors.

Electronic Arts Price Performance

Shares of Electronic Arts stock opened at $209.08 on Friday. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.22. The company has a market cap of $52.43 billion, a PE ratio of 59.91, a P/E/G ratio of 2.34 and a beta of 0.64. The business has a 50 day moving average of $204.25 and a 200 day moving average of $202.80. Electronic Arts Inc. has a 52 week low of $146.97 and a 52 week high of $209.34.

Electronic Arts Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 17th. Shareholders of record on Wednesday, May 27th were given a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date of this dividend was Wednesday, May 27th. Electronic Arts’s payout ratio is presently 21.78%.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on EA shares. Weiss Ratings upgraded shares of Electronic Arts from a “hold (c)” rating to a “hold (c+)” rating in a report on Monday, May 18th. Zacks Research lowered shares of Electronic Arts from a “hold” rating to a “strong sell” rating in a report on Monday, July 13th. Citigroup boosted their price objective on shares of Electronic Arts from $202.00 to $204.00 and gave the company a “neutral” rating in a research report on Thursday, May 7th. Argus downgraded shares of Electronic Arts from a “buy” rating to a “hold” rating in a research note on Thursday, May 28th. Finally, Wall Street Zen upgraded shares of Electronic Arts to a “hold” rating in a report on Saturday, June 6th. Two research analysts have rated the stock with a Buy rating, sixteen have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $196.64.

Insiders Place Their Bets

In other news, CEO Andrew Wilson sold 5,066 shares of Electronic Arts stock in a transaction dated Thursday, May 21st. The shares were sold at an average price of $201.66, for a total transaction of $1,021,609.56. Following the sale, the chief executive officer owned 85,974 shares of the company’s stock, valued at approximately $17,337,516.84. The trade was a 5.56% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, EVP Jacob J. Schatz sold 5,000 shares of the business’s stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of $201.19, for a total transaction of $1,005,950.00. Following the transaction, the executive vice president owned 42,287 shares in the company, valued at $8,507,721.53. This represents a 10.57% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last ninety days, insiders sold 31,206 shares of company stock worth $6,292,058. Company insiders own 0.24% of the company’s stock.

Electronic Arts Company Profile

Electronic Arts Inc (NASDAQ: EA) is a global interactive entertainment company headquartered in Redwood City, California. Founded in 1982 by Trip Hawkins, EA develops, publishes and distributes video games and related content for a variety of platforms, including consoles, personal computers and mobile devices. The company combines in-house development, partnerships and studio acquisitions to create and maintain a portfolio of entertainment properties and live-service experiences for players worldwide.

EA’s product lineup spans several well-known franchises and genres.