Cypress Capital Group Takes $753,000 Position in Electronic Arts Inc. (NASDAQ:EA)

Cypress Capital Group acquired a new stake in shares of Electronic Arts Inc. (NASDAQ:EA) during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm acquired 5,408 shares of the game software company’s stock, valued at approximately $753,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. grew its stake in 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 acquiring an additional 3,727,251 shares in the last quarter. Capital International Investors grew its stake 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 valued at $782,920,000 after acquiring an additional 833,492 shares in the last quarter. Ninety One UK Ltd grew its stake in shares of Electronic Arts by 1.3% in the 2nd quarter. Ninety One UK Ltd now owns 4,283,539 shares of the game software company’s stock worth $596,825,000 after buying an additional 53,237 shares in the last quarter. FIL Ltd grew its stake in shares of Electronic Arts by 4.4% in the 4th quarter. FIL Ltd now owns 3,428,193 shares of the game software company’s stock worth $469,011,000 after buying an additional 145,466 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD grew 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 buying an additional 2,090,504 shares in the last quarter. 90.23% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages recently weighed in on EA. Morgan Stanley lifted their price objective on shares of Electronic Arts from $140.00 to $150.00 and gave the company an “equal weight” rating in a report on Tuesday, July 23rd. UBS Group boosted their price target on shares of Electronic Arts from $143.00 to $155.00 and gave the company a “neutral” rating in a report on Wednesday, July 31st. BMO Capital Markets restated an “outperform” rating and issued a $154.00 price target on shares of Electronic Arts in a report on Tuesday, July 30th. Roth Mkm boosted their price target on shares of Electronic Arts from $135.00 to $152.00 and gave the company a “neutral” rating in a report on Monday, July 29th. Finally, Stifel Nicolaus boosted their price objective on shares of Electronic Arts from $165.00 to $167.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. Nine analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $161.28.

Insider Activity at Electronic Arts

In other news, 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 transaction, the insider now directly owns 39,374 shares of the company’s stock, valued at approximately $5,232,017.12. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Electronic Arts news, CEO Andrew Wilson sold 2,500 shares of the company’s stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $132.24, for a total value of $330,600.00. Following the transaction, the chief executive officer now directly owns 64,247 shares in the company, valued at approximately $8,496,023.28. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Vijayanthimala Singh sold 800 shares of the stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $132.88, for a total transaction of $106,304.00. Following the transaction, the insider now owns 39,374 shares in the company, valued at $5,232,017.12. The disclosure for this sale can be found here. Insiders sold a total of 17,986 shares of company stock worth $2,545,726 in the last 90 days. 0.22% of the stock is owned by insiders.

Electronic Arts Stock Up 0.9 %

Shares of NASDAQ:EA traded up $1.38 during trading on Monday, hitting $149.00. 158,978 shares of the company were exchanged, compared to its average volume of 2,122,126. The stock has a market capitalization of $39.59 billion, a P/E ratio of 31.54, a PEG ratio of 2.28 and a beta of 0.79. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.45 and a quick ratio of 1.37. Electronic Arts Inc. has a 12-month low of $117.47 and a 12-month high of $153.51. The firm’s 50 day moving average price is $143.80 and its 200-day moving average price is $136.98.

Electronic Arts Dividend Announcement

The firm also recently declared 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. The ex-dividend date is Wednesday, August 28th. This represents a $0.76 annualized dividend and a yield of 0.51%. Electronic Arts’s dividend payout ratio (DPR) is 16.24%.

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.