Geode Capital Management LLC Has $1.38 Billion Holdings in Electronic Arts Inc. $EA

Geode Capital Management LLC grew its position in Electronic Arts Inc. (NASDAQ:EA) by 2.2% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,764,572 shares of the game software company’s stock after purchasing an additional 143,195 shares during the period. Geode Capital Management LLC’s holdings in Electronic Arts were worth $1,382,030,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Ameriflex Group Inc. increased its position in Electronic Arts by 100.0% in the 3rd quarter. Ameriflex Group Inc. now owns 138 shares of the game software company’s stock worth $28,000 after purchasing an additional 69 shares during the last quarter. Oakworth Capital Inc. acquired a new position in Electronic Arts in the 3rd quarter worth about $30,000. Salomon & Ludwin LLC increased its holdings in shares of Electronic Arts by 32.8% during the 4th quarter. Salomon & Ludwin LLC now owns 231 shares of the game software company’s stock valued at $47,000 after acquiring an additional 57 shares during the last quarter. Tidemark LLC acquired a new position in shares of Electronic Arts during the 3rd quarter valued at about $50,000. Finally, Asset Dedication LLC increased its holdings in shares of Electronic Arts by 333.3% during the 3rd quarter. Asset Dedication LLC now owns 260 shares of the game software company’s stock valued at $52,000 after acquiring an additional 200 shares during the last quarter. 90.23% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Electronic Arts

In other news, CFO Stuart Canfield sold 1,500 shares of the stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $201.36, for a total value of $302,040.00. Following the completion of the sale, the chief financial officer directly owned 25,991 shares of the company’s stock, valued at approximately $5,233,547.76. This represents a 5.46% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Laura Miele sold 2,500 shares of the stock in a transaction that occurred on Friday, May 15th. The shares were sold at an average price of $200.54, for a total value of $501,350.00. Following the completion of the sale, the insider directly owned 40,843 shares of the company’s stock, valued at $8,190,655.22. This represents a 5.77% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 39,906 shares of company stock worth $8,032,336. Insiders own 0.24% of the company’s stock.

Electronic Arts Stock Performance

Shares of NASDAQ EA opened at $201.15 on Friday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.05 and a current ratio of 1.05. The firm has a market cap of $50.44 billion, a price-to-earnings ratio of 57.64, a P/E/G ratio of 2.21 and a beta of 0.66. The business’s 50-day simple moving average is $202.05 and its 200-day simple moving average is $202.26. Electronic Arts Inc. has a 52 week low of $141.19 and a 52 week high of $204.88.

Electronic Arts Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 17th. Shareholders 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 dividend on an annualized basis and a yield of 0.4%. Electronic Arts’s dividend payout ratio (DPR) is 21.78%.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. Weiss Ratings raised Electronic Arts from a “hold (c)” rating to a “hold (c+)” rating in a report on Monday, May 18th. Argus reissued a “hold” rating on shares of Electronic Arts in a report on Thursday. UBS Group reissued a “neutral” rating on shares of Electronic Arts in a report on Wednesday, February 4th. Finally, Citigroup increased their price objective on Electronic Arts from $202.00 to $204.00 and gave the company a “neutral” rating in a report on Thursday, May 7th. Two investment analysts have rated the stock with a Buy rating, seventeen have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target 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.