CIBC Asset Management Inc Buys 1,612 Shares of Electronic Arts Inc. (NASDAQ:EA)

CIBC Asset Management Inc boosted its stake in shares of Electronic Arts Inc. (NASDAQ:EA) by 2.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 81,616 shares of the game software company’s stock after purchasing an additional 1,612 shares during the period. CIBC Asset Management Inc’s holdings in Electronic Arts were worth $11,940,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Robeco Institutional Asset Management B.V. raised its position in Electronic Arts by 51.5% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 1,099,746 shares of the game software company’s stock worth $160,893,000 after acquiring an additional 373,730 shares during the period. abrdn plc raised its position in Electronic Arts by 59.2% in the third quarter. abrdn plc now owns 858,840 shares of the game software company’s stock worth $123,484,000 after acquiring an additional 319,335 shares during the period. Caisse DE Depot ET Placement DU Quebec raised its position in Electronic Arts by 8,503.9% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 318,085 shares of the game software company’s stock worth $45,626,000 after acquiring an additional 314,388 shares during the period. Los Angeles Capital Management LLC bought a new position in Electronic Arts in the third quarter worth approximately $40,154,000. Finally, Huntington National Bank raised its position in Electronic Arts by 983.4% in the third quarter. Huntington National Bank now owns 257,902 shares of the game software company’s stock worth $36,993,000 after acquiring an additional 234,098 shares during the period. Institutional investors own 90.23% of the company’s stock.

Insiders Place Their Bets

In related news, insider Laura Miele sold 2,500 shares of Electronic Arts stock in a transaction dated Thursday, February 6th. The shares were sold at an average price of $130.83, for a total transaction of $327,075.00. Following the completion of the transaction, the insider now directly owns 47,514 shares of the company’s stock, valued at approximately $6,216,256.62. The trade was a 5.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Andrew Wilson sold 5,000 shares of Electronic Arts stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $148.00, for a total transaction of $740,000.00. Following the transaction, the chief executive officer now directly owns 47,615 shares of the company’s stock, valued at approximately $7,047,020. This represents a 9.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 19,500 shares of company stock valued at $2,812,285 in the last three months. Corporate insiders own 0.22% of the company’s stock.

Wall Street Analysts Forecast Growth

EA has been the topic of several recent research reports. Oppenheimer decreased their price target on shares of Electronic Arts from $170.00 to $165.00 and set an “outperform” rating on the stock in a research report on Tuesday, January 21st. Stifel Nicolaus decreased their price objective on shares of Electronic Arts from $167.00 to $159.00 and set a “hold” rating on the stock in a research report on Tuesday, January 21st. Moffett Nathanson upgraded shares of Electronic Arts from a “neutral” rating to a “buy” rating and set a $145.00 price objective on the stock in a research report on Friday, January 31st. UBS Group raised their price objective on shares of Electronic Arts from $155.00 to $160.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. Finally, Wedbush restated an “outperform” rating and set a $173.00 price objective on shares of Electronic Arts in a research report on Thursday, January 23rd. Twelve investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat, Electronic Arts currently has a consensus rating of “Hold” and a consensus price target of $155.24.

Electronic Arts Stock Performance

Shares of NASDAQ:EA opened at $128.35 on Wednesday. Electronic Arts Inc. has a 52 week low of $115.21 and a 52 week high of $168.50. The stock has a market capitalization of $33.45 billion, a P/E ratio of 32.66, a PEG ratio of 2.74 and a beta of 0.79. The firm has a fifty day simple moving average of $138.96 and a two-hundred day simple moving average of $146.57. The company has a quick ratio of 1.43, a current ratio of 1.38 and a debt-to-equity ratio of 0.25.

Electronic Arts (NASDAQ:EA) last issued its quarterly earnings data on Tuesday, February 4th. The game software company reported $2.34 EPS for the quarter, missing analysts’ consensus estimates of $3.41 by ($1.07). Electronic Arts had a return on equity of 17.80% and a net margin of 14.28%. On average, analysts expect that Electronic Arts Inc. will post 4.99 earnings per share for the current fiscal year.

Electronic Arts Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 19th. Shareholders of record on Wednesday, February 26th will be paid a $0.19 dividend. The ex-dividend date of this dividend is Wednesday, February 26th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 0.59%. Electronic Arts’s payout ratio is currently 19.34%.

Electronic Arts Company 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.