Everence Capital Management Inc. Purchases 570 Shares of Electronic Arts Inc. (NASDAQ:EA)

Everence Capital Management Inc. raised its holdings in shares of Electronic Arts Inc. (NASDAQ:EA) by 7.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 8,265 shares of the game software company’s stock after acquiring an additional 570 shares during the period. Everence Capital Management Inc.’s holdings in Electronic Arts were worth $1,209,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the business. GAMMA Investing LLC lifted its stake in shares of Electronic Arts by 25.1% in the 4th quarter. GAMMA Investing LLC now owns 5,727 shares of the game software company’s stock valued at $838,000 after acquiring an additional 1,150 shares during the last quarter. Versant Capital Management Inc increased its stake in Electronic Arts by 9,280.0% in the 4th quarter. Versant Capital Management Inc now owns 469 shares of the game software company’s stock worth $69,000 after purchasing an additional 464 shares during the period. Inspire Trust Co. N.A. lifted its position in Electronic Arts by 47.4% in the third quarter. Inspire Trust Co. N.A. now owns 14,000 shares of the game software company’s stock valued at $2,008,000 after purchasing an additional 4,499 shares during the last quarter. Franklin Resources Inc. boosted its stake in shares of Electronic Arts by 8.4% during the third quarter. Franklin Resources Inc. now owns 863,899 shares of the game software company’s stock valued at $124,548,000 after purchasing an additional 66,797 shares during the period. Finally, Tidal Investments LLC grew its holdings in shares of Electronic Arts by 20.6% in the third quarter. Tidal Investments LLC now owns 45,630 shares of the game software company’s stock worth $6,545,000 after purchasing an additional 7,786 shares during the last quarter. 90.23% of the stock is currently owned by institutional investors.

Insider Activity

In other news, insider Vijayanthimala Singh sold 1,000 shares of Electronic Arts stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $150.83, for a total value of $150,830.00. Following the completion of the sale, the insider now directly owns 28,190 shares in the company, valued at $4,251,897.70. The trade was a 3.43 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Andrew Wilson sold 5,000 shares of the stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $148.00, for a total transaction of $740,000.00. Following the transaction, the chief executive officer now owns 47,615 shares in the company, valued at approximately $7,047,020. This trade represents a 9.50 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 23,500 shares of company stock worth $3,639,565 over the last 90 days. 0.22% of the stock is currently owned by insiders.

Electronic Arts Price Performance

Shares of NASDAQ:EA opened at $146.29 on Friday. The company has a market capitalization of $38.37 billion, a PE ratio of 37.61, a PEG ratio of 2.14 and a beta of 0.79. The business has a fifty day moving average price of $157.32 and a 200-day moving average price of $148.79. Electronic Arts Inc. has a 1-year low of $124.92 and a 1-year high of $168.50. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.43 and a quick ratio of 1.43.

Electronic Arts Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, December 18th. Stockholders of record on Wednesday, November 27th were paid a $0.19 dividend. The ex-dividend date was Wednesday, November 27th. This represents a $0.76 annualized dividend and a dividend yield of 0.52%. Electronic Arts’s dividend payout ratio is presently 19.54%.

Analyst Ratings Changes

A number of equities research analysts recently commented on the stock. Morgan Stanley reiterated an “equal weight” rating and set a $150.00 price target on shares of Electronic Arts in a report on Wednesday, September 18th. BMO Capital Markets reiterated an “outperform” rating and set a $160.00 target price (up from $154.00) on shares of Electronic Arts in a report on Wednesday, October 30th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $160.00 price target on shares of Electronic Arts in a report on Wednesday, September 18th. DZ Bank upgraded Electronic Arts from a “hold” rating to a “buy” rating and increased their price objective for the stock from $135.00 to $177.00 in a report on Thursday, October 31st. Finally, BNP Paribas upgraded Electronic Arts to a “strong-buy” rating in a report on Wednesday, October 9th. Eight research analysts have rated the stock with a hold rating, eleven have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $165.37.

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.