Burgundy Asset Management Ltd. grew its holdings in Electronic Arts Inc. (NASDAQ:EA – Get Rating) by 19.9% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,284,127 shares of the game software company’s stock after buying an additional 213,394 shares during the period. Electronic Arts makes up 1.7% of Burgundy Asset Management Ltd.’s portfolio, making the stock its 24th largest holding. Burgundy Asset Management Ltd. owned approximately 0.45% of Electronic Arts worth $169,376,000 as of its most recent SEC filing.
Other large investors have also modified their holdings of the company. Equitec Proprietary Markets LLC purchased a new position in shares of Electronic Arts in the 4th quarter worth $25,000. Industrial Alliance Investment Management Inc. purchased a new position in shares of Electronic Arts during the 4th quarter worth about $28,000. Old North State Trust LLC boosted its stake in shares of Electronic Arts by 59.2% during the 4th quarter. Old North State Trust LLC now owns 242 shares of the game software company’s stock worth $32,000 after purchasing an additional 90 shares during the period. Amplius Wealth Advisors LLC purchased a new position in shares of Electronic Arts during the 4th quarter worth about $34,000. Finally, North Star Investment Management Corp. boosted its stake in shares of Electronic Arts by 111.1% during the 4th quarter. North Star Investment Management Corp. now owns 285 shares of the game software company’s stock worth $38,000 after purchasing an additional 150 shares during the period. 89.28% of the stock is owned by institutional investors and hedge funds.
In related news, insider Jacob J. Schatz sold 1,000 shares of the stock in a transaction on Wednesday, February 16th. The stock was sold at an average price of $133.75, for a total value of $133,750.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Andrew Wilson sold 10,000 shares of Electronic Arts stock in a transaction on Monday, February 28th. The stock was sold at an average price of $130.16, for a total transaction of $1,301,600.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 44,700 shares of company stock worth $5,647,859. Company insiders own 0.65% of the company’s stock.
Electronic Arts (NASDAQ:EA – Get Rating) last announced its quarterly earnings results on Tuesday, May 10th. The game software company reported $0.80 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.43 by ($0.63). Electronic Arts had a return on equity of 18.99% and a net margin of 11.29%. The firm had revenue of $1.75 billion for the quarter, compared to analysts’ expectations of $1.77 billion. During the same period last year, the company posted $0.72 earnings per share. The business’s quarterly revenue was up 17.5% on a year-over-year basis. As a group, analysts anticipate that Electronic Arts Inc. will post 5.69 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 22nd. Shareholders of record on Wednesday, June 8th will be issued a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 0.61%. This is an increase from Electronic Arts’s previous quarterly dividend of $0.17. The ex-dividend date is Tuesday, June 7th. Electronic Arts’s dividend payout ratio (DPR) is presently 24.64%.
A number of equities analysts recently commented on the stock. Moffett Nathanson raised shares of Electronic Arts from a “neutral” rating to a “buy” rating and dropped their price target for the stock from $151.00 to $141.00 in a research note on Wednesday. Atlantic Securities raised shares of Electronic Arts from a “neutral” rating to an “overweight” rating and set a $160.00 price target for the company in a research note on Wednesday, January 19th. Barclays decreased their price objective on shares of Electronic Arts from $152.00 to $127.00 and set an “equal weight” rating for the company in a report on Wednesday, February 2nd. Morgan Stanley decreased their price objective on shares of Electronic Arts from $155.00 to $150.00 and set an “equal weight” rating for the company in a report on Wednesday, January 19th. Finally, Credit Suisse Group decreased their price objective on shares of Electronic Arts from $169.00 to $162.00 in a report on Wednesday. Six equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $155.54.
About Electronic Arts (Get Rating)
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 Plants vs.
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