Cumberland Partners Ltd Purchases 22,372 Shares of Electronic Arts Inc. (NASDAQ:EA)

Cumberland Partners Ltd boosted its holdings in shares of Electronic Arts Inc. (NASDAQ:EA) by 894.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 24,872 shares of the game software company’s stock after acquiring an additional 22,372 shares during the period. Cumberland Partners Ltd’s holdings in Electronic Arts were worth $3,639,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also added to or reduced their stakes in the company. Swedbank AB lifted its stake in shares of Electronic Arts by 6.3% during the 4th quarter. Swedbank AB now owns 1,607,817 shares of the game software company’s stock worth $235,224,000 after purchasing an additional 95,190 shares during the last quarter. Atomi Financial Group Inc. bought a new position in Electronic Arts in the fourth quarter worth about $217,000. Huntington National Bank lifted its position in shares of Electronic Arts by 983.4% during the third quarter. Huntington National Bank now owns 257,902 shares of the game software company’s stock valued at $36,993,000 after buying an additional 234,098 shares during the last quarter. Deroy & Devereaux Private Investment Counsel Inc. bought a new stake in shares of Electronic Arts in the 4th quarter valued at about $13,845,000. Finally, Dai ichi Life Insurance Company Ltd grew its position in shares of Electronic Arts by 20.8% in the 3rd quarter. Dai ichi Life Insurance Company Ltd now owns 64,170 shares of the game software company’s stock worth $9,205,000 after buying an additional 11,058 shares during the last quarter. Hedge funds and other institutional investors own 90.23% of the company’s stock.

Electronic Arts Price Performance

Shares of NASDAQ EA opened at $129.34 on Thursday. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.38 and a quick ratio of 1.38. The firm’s 50 day simple moving average is $138.27 and its 200-day simple moving average is $146.45. Electronic Arts Inc. has a 12 month low of $115.21 and a 12 month high of $168.50. The stock has a market capitalization of $33.71 billion, a price-to-earnings ratio of 32.91, a PEG ratio of 3.54 and a beta of 0.79.

Electronic Arts (NASDAQ:EA) last released its quarterly earnings results on Tuesday, February 4th. The game software company reported $2.34 EPS for the quarter, missing the consensus estimate of $3.41 by ($1.07). Electronic Arts had a net margin of 14.28% and a return on equity of 17.80%. Analysts expect that Electronic Arts Inc. will post 4.75 EPS for the current year.

Electronic Arts Dividend Announcement

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

Insider Buying and Selling at Electronic Arts

In other Electronic Arts news, insider Laura Miele sold 2,500 shares of the stock in a transaction that occurred on Thursday, February 6th. The stock was 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 owns 47,514 shares of the company’s stock, valued at $6,216,256.62. This represents a 5.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Vijayanthimala Singh sold 1,000 shares of Electronic Arts stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $164.45, for a total value of $164,450.00. Following the completion of the sale, the insider now directly owns 30,216 shares in the company, valued at $4,969,021.20. This represents a 3.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 19,500 shares of company stock valued at $2,812,285. Company insiders own 0.22% of the company’s stock.

Analysts Set New Price Targets

EA has been the subject of a number of analyst reports. StockNews.com cut shares of Electronic Arts from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, February 5th. Roth Mkm decreased their price objective on Electronic Arts from $158.00 to $134.00 and set a “neutral” rating for the company in a report on Thursday, January 23rd. Oppenheimer dropped their target price on Electronic Arts from $170.00 to $165.00 and set an “outperform” rating on the stock in a research note on Tuesday, January 21st. DA Davidson assumed coverage on Electronic Arts in a research report on Wednesday. They set a “neutral” rating and a $140.00 target price on the stock. Finally, JPMorgan Chase & Co. lowered their price target on Electronic Arts from $155.00 to $150.00 and set a “neutral” rating for the company in a report on Wednesday, October 30th. Thirteen analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $154.55.

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.