Archer Investment Corp Purchases 1,830 Shares of Electronic Arts Inc. (NASDAQ:EA)

Archer Investment Corp raised its stake in shares of Electronic Arts Inc. (NASDAQ:EA) by 3,893.6% in the 3rd quarter, HoldingsChannel reports. The firm owned 1,877 shares of the game software company’s stock after purchasing an additional 1,830 shares during the period. Archer Investment Corp’s holdings in Electronic Arts were worth $269,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Prime Capital Investment Advisors LLC increased its holdings in shares of Electronic Arts by 5.1% in the third quarter. Prime Capital Investment Advisors LLC now owns 1,572 shares of the game software company’s stock worth $225,000 after buying an additional 76 shares during the period. Cullen Frost Bankers Inc. raised its position in shares of Electronic Arts by 2.9% in the 2nd quarter. Cullen Frost Bankers Inc. now owns 2,828 shares of the game software company’s stock worth $394,000 after acquiring an additional 79 shares in the last quarter. Shepherd Financial Partners LLC grew its position in shares of Electronic Arts by 1.6% in the 3rd quarter. Shepherd Financial Partners LLC now owns 5,690 shares of the game software company’s stock worth $816,000 after buying an additional 88 shares during the period. Grove Bank & Trust lifted its position in Electronic Arts by 23.5% during the 2nd quarter. Grove Bank & Trust now owns 494 shares of the game software company’s stock valued at $69,000 after acquiring an additional 94 shares during the period. Finally, CWM LLC grew its stake in shares of Electronic Arts by 1.5% in the 3rd quarter. CWM LLC now owns 6,302 shares of the game software company’s stock worth $904,000 after buying an additional 95 shares during the last quarter. 90.23% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, insider Vijayanthimala Singh sold 7,384 shares of Electronic Arts stock in a transaction that occurred on Wednesday, August 28th. The shares were sold at an average price of $149.91, for a total value of $1,106,935.44. Following the transaction, the insider now owns 31,190 shares of the company’s stock, valued at $4,675,692.90. The trade was a 19.14 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Stuart Canfield sold 1,260 shares of the firm’s stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $148.37, for a total transaction of $186,946.20. Following the completion of the sale, the chief financial officer now owns 7,553 shares of the company’s stock, valued at approximately $1,120,638.61. This trade represents a 14.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 26,144 shares of company stock worth $3,886,282. 0.22% of the stock is currently owned by corporate insiders.

Electronic Arts Price Performance

EA opened at $161.36 on Friday. The company has a market capitalization of $42.32 billion, a price-to-earnings ratio of 41.48, a PEG ratio of 2.13 and a beta of 0.78. The company has a current ratio of 1.43, a quick ratio of 1.43 and a debt-to-equity ratio of 0.25. Electronic Arts Inc. has a 12-month low of $124.92 and a 12-month high of $164.42. The business’s fifty day simple moving average is $147.17 and its 200-day simple moving average is $142.44.

Electronic Arts Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Wednesday, November 27th will be given a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 0.47%. The ex-dividend date of this dividend is Wednesday, November 27th. Electronic Arts’s dividend payout ratio (DPR) is 19.54%.

Wall Street Analyst Weigh In

EA has been the subject of several recent analyst reports. Argus lifted their target price on shares of Electronic Arts from $161.00 to $183.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Wedbush reiterated an “outperform” rating and set a $170.00 price objective on shares of Electronic Arts in a research report on Friday, October 25th. StockNews.com raised shares of Electronic Arts from a “buy” rating to a “strong-buy” rating in a research note on Thursday, October 31st. JPMorgan Chase & Co. dropped their price objective on shares of Electronic Arts from $155.00 to $150.00 and set a “neutral” rating for the company in a report on Wednesday, October 30th. Finally, UBS Group lifted their target price on Electronic Arts from $155.00 to $160.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. Eight equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $165.37.

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.