Alberta Investment Management Corp Buys 60,000 Shares of Electronic Arts Inc. $EA

Alberta Investment Management Corp increased its stake in shares of Electronic Arts Inc. (NASDAQ:EA) by 100.0% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 120,000 shares of the game software company’s stock after acquiring an additional 60,000 shares during the period. Alberta Investment Management Corp’s holdings in Electronic Arts were worth $24,520,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Ameriflex Group Inc. raised its position in Electronic Arts by 100.0% in the 3rd quarter. Ameriflex Group Inc. now owns 138 shares of the game software company’s stock valued at $28,000 after purchasing an additional 69 shares during the last quarter. Fideuram Asset Management Ireland dac bought a new position in shares of Electronic Arts in the fourth quarter valued at about $44,000. Geneos Wealth Management Inc. lifted its position in Electronic Arts by 150.8% during the 1st quarter. Geneos Wealth Management Inc. now owns 316 shares of the game software company’s stock worth $46,000 after buying an additional 190 shares in the last quarter. Salomon & Ludwin LLC lifted its position in Electronic Arts by 32.8% during the 4th quarter. Salomon & Ludwin LLC now owns 231 shares of the game software company’s stock worth $47,000 after buying an additional 57 shares in the last quarter. Finally, Asset Dedication LLC grew its holdings in Electronic Arts by 333.3% during the 3rd quarter. Asset Dedication LLC now owns 260 shares of the game software company’s stock worth $52,000 after acquiring an additional 200 shares during the last quarter. Institutional investors and hedge funds own 90.23% of the company’s stock.

Insider Buying and Selling

In other news, CEO Andrew Wilson sold 5,066 shares of Electronic Arts stock in a transaction on 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 transaction, the chief executive officer directly owned 85,974 shares of the company’s stock, valued at $17,337,516.84. This trade represents a 5.56% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available 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, CFO Stuart Canfield sold 1,500 shares of the business’s stock in a transaction on Wednesday, May 20th. The shares were sold at an average price of $201.36, for a total transaction of $302,040.00. Following the completion of the transaction, the chief financial officer directly owned 25,991 shares of the company’s stock, valued at $5,233,547.76. This trade represents a 5.46% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 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. Insiders have sold a total of 39,906 shares of company stock valued at $8,060,033 over the last 90 days. 0.24% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages have weighed in on EA. Wall Street Zen raised shares of Electronic Arts to a “hold” rating in a research note on Saturday, June 6th. Weiss Ratings raised shares of Electronic Arts from a “hold (c)” rating to a “hold (c+)” rating in a research note on Monday, May 18th. Argus lowered shares of Electronic Arts from a “buy” rating to a “hold” rating in a report on Thursday, May 28th. Finally, Citigroup upped their price objective on Electronic Arts from $202.00 to $204.00 and gave the stock a “neutral” rating in a report on Thursday, May 7th. Two analysts have rated the stock with a Buy rating, seventeen have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $196.64.

Electronic Arts Price Performance

Shares of EA stock opened at $202.15 on Friday. The firm’s 50 day moving average price is $202.15 and its two-hundred day moving average price is $202.39. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.05 and a current ratio of 1.05. Electronic Arts Inc. has a 52-week low of $146.97 and a 52-week high of $204.88. The stock has a market cap of $50.69 billion, a PE ratio of 57.92, a PEG ratio of 2.28 and a beta of 0.65.

Electronic Arts Dividend Announcement

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

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.