Norges Bank Purchases Shares of 660,955 Electronic Arts Inc. (NASDAQ:EA)

Norges Bank acquired a new stake in shares of Electronic Arts Inc. (NASDAQ:EA) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 660,955 shares of the game software company’s stock, valued at approximately $96,698,000. Norges Bank owned approximately 0.25% of Electronic Arts at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the business. Geode Capital Management LLC raised its holdings in Electronic Arts by 0.4% during the 3rd quarter. Geode Capital Management LLC now owns 6,671,657 shares of the game software company’s stock worth $954,358,000 after buying an additional 26,505 shares during the period. Amundi increased its position in shares of Electronic Arts by 4.3% in the fourth quarter. Amundi now owns 2,990,729 shares of the game software company’s stock worth $431,315,000 after acquiring an additional 122,494 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Electronic Arts by 1.3% during the fourth quarter. Bank of New York Mellon Corp now owns 1,789,283 shares of the game software company’s stock valued at $261,772,000 after acquiring an additional 23,289 shares during the period. Swedbank AB lifted its position in shares of Electronic Arts by 6.3% in the 4th quarter. Swedbank AB now owns 1,607,817 shares of the game software company’s stock valued at $235,224,000 after acquiring an additional 95,190 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in Electronic Arts by 2.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,456,520 shares of the game software company’s stock worth $213,089,000 after purchasing an additional 36,153 shares during the period. Institutional investors and hedge funds own 90.23% of the company’s stock.

Electronic Arts Trading Up 0.8 %

NASDAQ EA opened at $145.67 on Wednesday. The company has a market cap of $37.96 billion, a PE ratio of 37.07, a PEG ratio of 3.58 and a beta of 0.78. Electronic Arts Inc. has a 12 month low of $115.21 and a 12 month high of $168.50. The stock has a 50 day moving average of $133.15 and a 200-day moving average of $144.63. The company has a current ratio of 1.38, a quick ratio of 1.38 and a debt-to-equity ratio of 0.25.

Electronic Arts (NASDAQ:EA) last announced its quarterly earnings data on Tuesday, February 4th. The game software company reported $2.34 EPS for the quarter, missing analysts’ consensus estimates of $3.41 by ($1.07). Electronic Arts had a net margin of 14.28% and a return on equity of 17.80%. On average, equities research analysts anticipate that Electronic Arts Inc. will post 4.71 EPS for the current fiscal year.

Electronic Arts Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 19th. Stockholders of record on Wednesday, February 26th were paid a dividend of $0.19 per share. The ex-dividend date of this dividend was Wednesday, February 26th. This represents a $0.76 annualized dividend and a dividend yield of 0.52%. Electronic Arts’s dividend payout ratio is currently 19.34%.

Insider Activity at Electronic Arts

In other Electronic Arts news, insider Vijayanthimala Singh sold 1,000 shares of the company’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $147.57, for a total value of $147,570.00. Following the transaction, the insider now directly owns 29,216 shares of the company’s stock, valued at $4,311,405.12. This represents a 3.31 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Laura Miele sold 2,500 shares of Electronic Arts stock in a transaction dated 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 sale, the insider now owns 47,514 shares of the company’s stock, valued at $6,216,256.62. This trade represents a 5.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 22,000 shares of company stock worth $3,018,560. Company insiders own 0.22% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on EA. Ascendiant Capital Markets increased their target price on Electronic Arts from $157.00 to $160.00 and gave the company a “buy” rating in a report on Monday, March 3rd. Bank of America raised their price objective on Electronic Arts from $130.00 to $132.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 5th. Raymond James downgraded Electronic Arts from an “outperform” rating to a “market perform” rating in a report on Thursday, January 23rd. BMO Capital Markets decreased their price target on shares of Electronic Arts from $145.00 to $142.00 and set a “market perform” rating for the company in a report on Wednesday, February 5th. Finally, BNP Paribas lowered shares of Electronic Arts from an “outperform” rating to a “neutral” rating and set a $125.00 price objective on the stock. in a research note on Monday, January 27th. Thirteen equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, Electronic Arts has an average rating of “Hold” and an average price target of $155.65.

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.