New Covenant Trust Company N.A. Takes $35,000 Position in Electronic Arts Inc. (NASDAQ:EA)

New Covenant Trust Company N.A. acquired a new position in Electronic Arts Inc. (NASDAQ:EA) during the first quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 266 shares of the game software company’s stock, valued at approximately $35,000.

Other hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. raised its stake in shares of Electronic Arts by 14.7% during the first quarter. Vanguard Group Inc. now owns 29,159,718 shares of the game software company’s stock valued at $3,868,620,000 after purchasing an additional 3,727,251 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its stake in shares of Electronic Arts by 496.9% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,511,250 shares of the game software company’s stock worth $333,169,000 after acquiring an additional 2,090,504 shares during the period. Norges Bank bought a new position in shares of Electronic Arts in the fourth quarter valued at approximately $281,054,000. Jericho Capital Asset Management L.P. acquired a new position in shares of Electronic Arts during the first quarter valued at approximately $189,055,000. Finally, Capital International Investors raised its holdings in Electronic Arts by 16.4% during the first quarter. Capital International Investors now owns 5,901,257 shares of the game software company’s stock worth $782,920,000 after purchasing an additional 833,492 shares in the last quarter. 90.23% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the company. Benchmark increased their price target on Electronic Arts from $153.00 to $163.00 and gave the company a “buy” rating in a research report on Wednesday. Stifel Nicolaus lifted their target price on shares of Electronic Arts from $165.00 to $167.00 and gave the stock a “buy” rating in a research report on Wednesday. BMO Capital Markets restated an “outperform” rating and issued a $154.00 price target on shares of Electronic Arts in a research report on Tuesday. Jefferies Financial Group initiated coverage on shares of Electronic Arts in a research report on Thursday, July 11th. They set a “buy” rating and a $165.00 price objective on the stock. Finally, Robert W. Baird boosted their target price on shares of Electronic Arts from $150.00 to $170.00 and gave the company an “outperform” rating in a research note on Wednesday. Ten equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $158.95.

Electronic Arts Stock Up 0.3 %

NASDAQ:EA traded up $0.43 on Friday, hitting $148.83. The stock had a trading volume of 1,821,621 shares, compared to its average volume of 2,180,072. Electronic Arts Inc. has a 1 year low of $117.47 and a 1 year high of $153.51. The firm’s fifty day simple moving average is $139.89 and its two-hundred day simple moving average is $135.90. The stock has a market cap of $39.55 billion, a P/E ratio of 31.71, a price-to-earnings-growth ratio of 2.36 and a beta of 0.79. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.37 and a current ratio of 1.37.

Electronic Arts (NASDAQ:EA) last posted its quarterly earnings data on Tuesday, May 7th. The game software company reported $0.92 EPS for the quarter, missing the consensus estimate of $1.09 by ($0.17). Electronic Arts had a net margin of 15.77% and a return on equity of 16.26%. The firm had revenue of $1.67 billion during the quarter, compared to analysts’ expectations of $1.78 billion. Analysts predict that Electronic Arts Inc. will post 5.76 earnings per share for the current year.

Electronic Arts Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 18th. Investors of record on Wednesday, August 28th will be given a $0.19 dividend. This represents a $0.76 annualized dividend and a dividend yield of 0.51%. The ex-dividend date is Wednesday, August 28th. Electronic Arts’s dividend payout ratio (DPR) is 16.24%.

Insider Activity at Electronic Arts

In other Electronic Arts news, EVP Jacob J. Schatz sold 1,000 shares of the firm’s stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $127.15, for a total transaction of $127,150.00. Following the sale, the executive vice president now owns 17,426 shares in the company, valued at $2,215,715.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Electronic Arts news, EVP Jacob J. Schatz sold 1,000 shares of Electronic Arts stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $127.15, for a total value of $127,150.00. Following the transaction, the executive vice president now directly owns 17,426 shares of the company’s stock, valued at approximately $2,215,715.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Vijayanthimala Singh sold 800 shares of the company’s stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $132.88, for a total transaction of $106,304.00. Following the sale, the insider now owns 39,374 shares of the company’s stock, valued at $5,232,017.12. The disclosure for this sale can be found here. Insiders have sold 23,239 shares of company stock valued at $3,197,469 over the last three months. 0.22% of the stock is owned by corporate insiders.

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.