Cullinan Associates Inc. Purchases 9,554 Shares of Electronic Arts Inc. (NASDAQ:EA)

Cullinan Associates Inc. grew its position in Electronic Arts Inc. (NASDAQ:EA) by 5.2% during the first quarter, HoldingsChannel.com reports. The firm owned 193,823 shares of the game software company’s stock after buying an additional 9,554 shares during the quarter. Electronic Arts accounts for approximately 1.4% of Cullinan Associates Inc.’s investment portfolio, making the stock its 16th biggest holding. Cullinan Associates Inc.’s holdings in Electronic Arts were worth $25,714,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. grew its position in Electronic Arts by 16.3% during the third quarter. Vanguard Group Inc. now owns 25,636,385 shares of the game software company’s stock worth $3,086,621,000 after buying an additional 3,600,388 shares in the last quarter. Capital International Investors raised its position in Electronic Arts by 8.3% during the 4th quarter. Capital International Investors now owns 5,067,765 shares of the game software company’s stock worth $693,318,000 after purchasing an additional 386,630 shares during the last quarter. FIL Ltd grew its holdings in Electronic Arts by 4.4% during the 4th quarter. FIL Ltd now owns 3,428,193 shares of the game software company’s stock worth $469,011,000 after acquiring an additional 145,466 shares during the period. Morgan Stanley grew its holdings in Electronic Arts by 13.0% during the 3rd quarter. Morgan Stanley now owns 3,389,395 shares of the game software company’s stock worth $408,084,000 after acquiring an additional 389,063 shares during the period. Finally, DNB Asset Management AS grew its holdings in Electronic Arts by 82.3% during the 4th quarter. DNB Asset Management AS now owns 2,357,238 shares of the game software company’s stock worth $322,494,000 after acquiring an additional 1,064,022 shares during the period. 90.23% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have weighed in on EA. Roth Mkm decreased their price target on Electronic Arts from $140.00 to $135.00 and set a “neutral” rating for the company in a report on Wednesday, May 1st. Oppenheimer restated an “outperform” rating and issued a $150.00 target price on shares of Electronic Arts in a research note on Friday, June 21st. StockNews.com upgraded Electronic Arts from a “hold” rating to a “buy” rating in a research note on Wednesday, June 26th. Robert W. Baird reduced their target price on Electronic Arts from $160.00 to $150.00 and set an “outperform” rating for the company in a research note on Wednesday, May 8th. Finally, Benchmark reiterated a “buy” rating and set a $153.00 price target on shares of Electronic Arts in a research note on Thursday, April 18th. Eight analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat.com, Electronic Arts presently has a consensus rating of “Moderate Buy” and an average target price of $147.50.

Insider Activity

In related news, CAO Eric Charles Kelly sold 3,000 shares of the stock in a transaction dated Wednesday, May 22nd. The shares were sold at an average price of $133.75, for a total value of $401,250.00. Following the completion of the transaction, the chief accounting officer now directly owns 7,458 shares of the company’s stock, valued at $997,507.50. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other news, insider Jacob J. Schatz sold 1,000 shares of the company’s stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $128.21, for a total value of $128,210.00. Following the transaction, the insider now owns 18,426 shares in the company, valued at $2,362,397.46. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Eric Charles Kelly sold 3,000 shares of the stock in a transaction that occurred on Wednesday, May 22nd. The shares were sold at an average price of $133.75, for a total transaction of $401,250.00. Following the transaction, the chief accounting officer now owns 7,458 shares in the company, valued at approximately $997,507.50. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 22,239 shares of company stock valued at $2,953,588. Insiders own 0.22% of the company’s stock.

Electronic Arts Stock Performance

Shares of NASDAQ:EA traded up $0.70 during mid-day trading on Tuesday, reaching $138.02. The company had a trading volume of 302,163 shares, compared to its average volume of 2,113,184. Electronic Arts Inc. has a one year low of $117.47 and a one year high of $144.53. The firm has a market cap of $36.68 billion, a price-to-earnings ratio of 29.34, a PEG ratio of 2.21 and a beta of 0.79. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 0.25. The company’s 50-day moving average price is $132.91 and its 200-day moving average price is $134.83.

Electronic Arts (NASDAQ:EA) last released its quarterly earnings data 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 net margin of 16.83% and a return on equity of 18.81%. The business had revenue of $1.67 billion during the quarter, compared to analysts’ expectations of $1.78 billion. As a group, equities research analysts anticipate that Electronic Arts Inc. will post 5.72 EPS for the current fiscal year.

Electronic Arts Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 19th. Stockholders of record on Wednesday, May 29th were paid a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a dividend yield of 0.55%. The ex-dividend date was Wednesday, May 29th. Electronic Arts’s dividend payout ratio (DPR) is 16.24%.

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.