Electronic Arts (NASDAQ:EA) Price Target Raised to $183.00 at TD Cowen

Electronic Arts (NASDAQ:EA) had its price objective hoisted by TD Cowen from $163.00 to $183.00 in a research report sent to investors on Wednesday morning, Benzinga reports. They currently have a buy rating on the game software company’s stock.

A number of other research analysts have also recently weighed in on the company. StockNews.com upgraded Electronic Arts from a hold rating to a buy rating in a report on Wednesday, June 26th. Morgan Stanley boosted their price target on Electronic Arts from $140.00 to $150.00 and gave the stock an equal weight rating in a research note on Tuesday, July 23rd. Jefferies Financial Group assumed coverage on shares of Electronic Arts in a report on Thursday, July 11th. They set a buy rating and a $165.00 price objective for the company. UBS Group raised their price target on shares of Electronic Arts from $143.00 to $155.00 and gave the stock a neutral rating in a research report on Wednesday. Finally, Robert W. Baird upped their price objective on Electronic Arts from $150.00 to $170.00 and gave the stock an outperform rating in a research note on Wednesday. Nine analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Electronic Arts currently has an average rating of Moderate Buy and a consensus price target of $160.16.

Electronic Arts Price Performance

Shares of NASDAQ EA opened at $148.83 on Wednesday. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.37 and a quick ratio of 1.37. The company has a market cap of $39.55 billion, a PE ratio of 31.80, a P/E/G ratio of 2.36 and a beta of 0.79. Electronic Arts has a 1-year low of $117.47 and a 1-year high of $153.51. The stock has a fifty day moving average price of $140.16 and a 200 day moving average price of $135.98.

Electronic Arts (NASDAQ:EA) last released its quarterly earnings results on Tuesday, May 7th. The game software company reported $0.92 earnings per share for the quarter, missing analysts’ consensus estimates of $1.09 by ($0.17). Electronic Arts had a return on equity of 16.26% and a net margin of 15.77%. The firm had revenue of $1.67 billion during the quarter, compared to analyst estimates of $1.78 billion. Sell-side analysts forecast that Electronic Arts will post 5.76 EPS for the current year.

Electronic Arts Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 18th. Stockholders of record on Wednesday, August 28th will be issued a $0.19 dividend. The ex-dividend date of this dividend is Wednesday, August 28th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 0.51%. Electronic Arts’s dividend payout ratio is presently 16.24%.

Insiders Place Their Bets

In other news, insider Vijayanthimala Singh sold 800 shares of the company’s stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $132.88, for a total value of $106,304.00. Following the transaction, the insider now owns 39,374 shares of the company’s stock, valued at $5,232,017.12. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Electronic Arts news, CAO Eric Charles Kelly sold 3,000 shares of Electronic Arts stock in a transaction that occurred on Wednesday, May 22nd. The stock was sold at an average price of $133.75, for a total value of $401,250.00. Following the transaction, the chief accounting officer now directly owns 7,458 shares of the company’s stock, valued at approximately $997,507.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Vijayanthimala Singh sold 800 shares of the stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $132.88, for a total transaction of $106,304.00. Following the sale, the insider now directly owns 39,374 shares of the company’s stock, valued at approximately $5,232,017.12. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 23,239 shares of company stock valued at $3,197,469. Insiders own 0.22% of the company’s stock.

Institutional Investors Weigh In On Electronic Arts

Several institutional investors and hedge funds have recently modified their holdings of EA. North Star Investment Management Corp. raised its position in shares of Electronic Arts by 333.3% in the 1st quarter. North Star Investment Management Corp. now owns 195 shares of the game software company’s stock worth $26,000 after purchasing an additional 150 shares during the last quarter. Cape Investment Advisory Inc. increased its stake in shares of Electronic Arts by 102.0% in the fourth quarter. Cape Investment Advisory Inc. now owns 200 shares of the game software company’s stock worth $27,000 after purchasing an additional 101 shares in the last quarter. Redmont Wealth Advisors LLC bought a new stake in Electronic Arts during the first quarter valued at about $27,000. Opal Wealth Advisors LLC bought a new stake in Electronic Arts during the 2nd quarter valued at approximately $28,000. Finally, Larson Financial Group LLC purchased a new position in shares of Electronic Arts in the fourth quarter worth $30,000. 90.23% of the stock is owned by hedge funds and other institutional investors.

About Electronic Arts

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.