Teacher Retirement System of Texas increased its stake in Electronic Arts Inc. (NASDAQ:EA – Get Rating) by 15.7% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 431,497 shares of the game software company’s stock after purchasing an additional 58,495 shares during the period. Teacher Retirement System of Texas owned 0.15% of Electronic Arts worth $54,589,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors also recently bought and sold shares of EA. Norges Bank acquired a new stake in Electronic Arts during the 4th quarter valued at approximately $218,333,000. Robeco Institutional Asset Management B.V. lifted its stake in Electronic Arts by 60.9% during the 1st quarter. Robeco Institutional Asset Management B.V. now owns 1,474,669 shares of the game software company’s stock valued at $186,559,000 after acquiring an additional 557,935 shares during the period. Pictet Asset Management SA lifted its stake in Electronic Arts by 84.0% during the 4th quarter. Pictet Asset Management SA now owns 1,186,652 shares of the game software company’s stock valued at $156,519,000 after acquiring an additional 541,858 shares during the period. BlackRock Inc. lifted its stake in Electronic Arts by 1.9% during the 4th quarter. BlackRock Inc. now owns 23,528,573 shares of the game software company’s stock valued at $3,103,418,000 after acquiring an additional 436,684 shares during the period. Finally, Cornerstone Investment Partners LLC acquired a new stake in Electronic Arts during the 1st quarter valued at approximately $31,495,000. 89.28% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
Several research firms recently issued reports on EA. Truist Financial decreased their target price on shares of Electronic Arts to $154.00 and set a “buy” rating for the company in a research note on Sunday, July 31st. Cowen decreased their target price on shares of Electronic Arts from $180.00 to $158.00 in a research note on Wednesday, May 11th. Robert W. Baird decreased their target price on shares of Electronic Arts from $165.00 to $140.00 in a research note on Wednesday, May 11th. StockNews.com upgraded shares of Electronic Arts from a “hold” rating to a “buy” rating in a research note on Wednesday, June 22nd. Finally, Bank of America boosted their target price on shares of Electronic Arts from $148.00 to $155.00 and gave the company a “buy” rating in a research note on Wednesday. Four investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, Electronic Arts currently has an average rating of “Moderate Buy” and a consensus price target of $154.13.
Insider Transactions at Electronic Arts
Electronic Arts Trading Down 0.5 %
NASDAQ EA opened at $132.56 on Friday. The firm’s 50-day moving average is $129.68 and its two-hundred day moving average is $128.33. Electronic Arts Inc. has a 12 month low of $109.24 and a 12 month high of $147.76. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.24 and a quick ratio of 1.18. The stock has a market capitalization of $37.06 billion, a P/E ratio of 41.95, a PEG ratio of 4.11 and a beta of 0.84.
Electronic Arts (NASDAQ:EA – Get Rating) last posted its earnings results on Tuesday, May 10th. The game software company reported $0.82 EPS for the quarter, missing analysts’ consensus estimates of $1.04 by ($0.22). Electronic Arts had a net margin of 12.43% and a return on equity of 17.86%. The company had revenue of $1.75 billion during the quarter, compared to analyst estimates of $1.77 billion. During the same period in the previous year, the company earned $0.72 EPS. The company’s quarterly revenue was up 17.5% compared to the same quarter last year. On average, sell-side analysts anticipate that Electronic Arts Inc. will post 5.45 earnings per share for the current year.
Electronic Arts Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 21st. Stockholders of record on Wednesday, August 31st will be given a dividend of $0.19 per share. The ex-dividend date of this dividend is Tuesday, August 30th. This represents a $0.76 annualized dividend and a dividend yield of 0.57%. Electronic Arts’s dividend payout ratio is presently 24.05%.
Electronic Arts 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.
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