Gabelli Funds LLC Has $29.40 Million Stock Holdings in Electronic Arts Inc. $EA

Gabelli Funds LLC grew its holdings in Electronic Arts Inc. (NASDAQ:EA) by 637.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 143,900 shares of the game software company’s stock after purchasing an additional 124,390 shares during the quarter. Gabelli Funds LLC’s holdings in Electronic Arts were worth $29,403,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in EA. Brighton Jones LLC increased its position in Electronic Arts by 9.4% in the 4th quarter. Brighton Jones LLC now owns 3,420 shares of the game software company’s stock valued at $500,000 after buying an additional 294 shares in the last quarter. Empowered Funds LLC increased its position in Electronic Arts by 167.0% in the 1st quarter. Empowered Funds LLC now owns 19,306 shares of the game software company’s stock valued at $2,790,000 after buying an additional 12,076 shares in the last quarter. Geneos Wealth Management Inc. increased its position in Electronic Arts by 150.8% in the 1st quarter. Geneos Wealth Management Inc. now owns 316 shares of the game software company’s stock valued at $46,000 after buying an additional 190 shares in the last quarter. Jump Financial LLC bought a new stake in Electronic Arts in the 2nd quarter valued at about $2,323,000. Finally, NewEdge Advisors LLC increased its position in Electronic Arts by 96.4% in the 2nd quarter. NewEdge Advisors LLC now owns 3,067 shares of the game software company’s stock valued at $490,000 after buying an additional 1,505 shares in the last quarter. 90.23% of the stock is owned by institutional investors.

Insider Activity

In other news, insider Vijayanthimala Singh sold 1,200 shares of the company’s stock in a transaction that occurred on Friday, May 15th. The stock was sold at an average price of $200.81, for a total value of $240,972.00. Following the completion of the transaction, the insider directly owned 27,560 shares of the company’s stock, valued at $5,534,323.60. This represents a 4.17% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Laura Miele sold 2,500 shares of the company’s stock in a transaction that occurred on Monday, March 16th. The shares were sold at an average price of $199.95, for a total value of $499,875.00. Following the completion of the transaction, the insider directly owned 45,843 shares of the company’s stock, valued at approximately $9,166,307.85. This represents a 5.17% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 26,100 shares of company stock valued at $5,252,250 over the last three months. Corporate insiders own 0.24% of the company’s stock.

Electronic Arts Stock Performance

EA stock opened at $201.05 on Tuesday. The firm has a market cap of $50.41 billion, a PE ratio of 57.61, a P/E/G ratio of 2.21 and a beta of 0.66. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.22. The business has a 50 day moving average of $201.77 and a 200-day moving average of $202.21. Electronic Arts Inc. has a 12-month low of $141.19 and a 12-month high of $204.88.

Electronic Arts Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 17th. Stockholders of record on Wednesday, May 27th will be issued a $0.19 dividend. The ex-dividend date of this dividend is Wednesday, May 27th. This represents a $0.76 annualized dividend and a dividend yield of 0.4%. Electronic Arts’s dividend payout ratio is currently 21.78%.

Analyst Ratings Changes

A number of brokerages recently commented on EA. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Electronic Arts in a research report on Monday, May 4th. UBS Group reaffirmed a “neutral” rating on shares of Electronic Arts in a research report on Wednesday, February 4th. Finally, Citigroup boosted their target price on Electronic Arts from $202.00 to $204.00 and gave the company a “neutral” rating in a research report on Thursday, May 7th. Three research analysts have rated the stock with a Buy rating, sixteen have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Electronic Arts has an average rating of “Hold” and a consensus target price of $196.64.

About Electronic Arts

Electronic Arts Inc (NASDAQ: EA) is a global interactive entertainment company headquartered in Redwood City, California. Founded in 1982 by Trip Hawkins, EA develops, publishes and distributes video games and related content for a variety of platforms, including consoles, personal computers and mobile devices. The company combines in-house development, partnerships and studio acquisitions to create and maintain a portfolio of entertainment properties and live-service experiences for players worldwide.

EA’s product lineup spans several well-known franchises and genres.