Electronic Arts (NASDAQ:EA) Hits New 52-Week High – Here’s What Happened

Electronic Arts Inc. (NASDAQ:EA)’s stock price hit a new 52-week high during mid-day trading on Monday . The company traded as high as $164.45 and last traded at $164.01, with a volume of 1729818 shares. The stock had previously closed at $161.36.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. TD Cowen lifted their target price on shares of Electronic Arts from $163.00 to $183.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. Morgan Stanley reaffirmed an “equal weight” rating and issued a $150.00 price objective on shares of Electronic Arts in a research report on Wednesday, September 18th. JPMorgan Chase & Co. cut their price target on Electronic Arts from $155.00 to $150.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 30th. DZ Bank raised shares of Electronic Arts from a “hold” rating to a “buy” rating and upped their price target for the company from $135.00 to $177.00 in a report on Thursday, October 31st. Finally, Raymond James lifted their price target on Electronic Arts from $155.00 to $170.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 31st. Eight 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 company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $165.37.

Electronic Arts Trading Up 0.3 %

The stock has a market capitalization of $43.72 billion, a P/E ratio of 42.71, a price-to-earnings-growth ratio of 2.11 and a beta of 0.78. The business has a 50 day simple moving average of $148.01 and a 200-day simple moving average of $143.16. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.43 and a current ratio of 1.43.

Electronic Arts Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Wednesday, November 27th will be issued a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 0.46%. The ex-dividend date of this dividend is Wednesday, November 27th. Electronic Arts’s payout ratio is currently 19.54%.

Insider Buying and Selling at Electronic Arts

In related news, insider Vijayanthimala Singh sold 7,384 shares of the business’s stock in a transaction that occurred on Wednesday, August 28th. The shares were sold at an average price of $149.91, for a total transaction of $1,106,935.44. Following the transaction, the insider now directly owns 31,190 shares of the company’s stock, valued at approximately $4,675,692.90. The trade was a 19.14 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Andrew Wilson sold 2,500 shares of the company’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $148.88, for a total transaction of $372,200.00. Following the completion of the transaction, the chief executive officer now directly owns 56,747 shares in the company, valued at $8,448,493.36. This trade represents a 4.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 26,384 shares of company stock valued at $3,944,285. 0.22% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Ashton Thomas Securities LLC acquired a new position in Electronic Arts during the third quarter worth $25,000. Opal Wealth Advisors LLC acquired a new position in shares of Electronic Arts during the 2nd quarter valued at about $28,000. Family Firm Inc. bought a new position in shares of Electronic Arts in the 2nd quarter valued at approximately $33,000. Reston Wealth Management LLC acquired a new stake in Electronic Arts in the 3rd quarter worth approximately $36,000. Finally, Gradient Investments LLC lifted its holdings in Electronic Arts by 592.1% in the 2nd quarter. Gradient Investments LLC now owns 263 shares of the game software company’s stock worth $37,000 after purchasing an additional 225 shares during the last quarter. Hedge funds and other institutional investors own 90.23% of the company’s stock.

Electronic Arts Company 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.