Meeder Asset Management Inc. Purchases 2,121 Shares of Electronic Arts Inc. (NASDAQ:EA)

Meeder Asset Management Inc. grew its stake in Electronic Arts Inc. (NASDAQ:EA) by 283.6% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,869 shares of the game software company’s stock after acquiring an additional 2,121 shares during the quarter. Meeder Asset Management Inc.’s holdings in Electronic Arts were worth $415,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the business. Nomura Holdings Inc. boosted its stake in Electronic Arts by 11.7% during the fourth quarter. Nomura Holdings Inc. now owns 31,208 shares of the game software company’s stock valued at $4,566,000 after buying an additional 3,259 shares during the last quarter. Huntington National Bank increased its holdings in Electronic Arts by 31.4% during the 4th quarter. Huntington National Bank now owns 338,870 shares of the game software company’s stock worth $49,577,000 after purchasing an additional 80,968 shares during the period. Sumitomo Mitsui Trust Group Inc. boosted its position in Electronic Arts by 2.1% during the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 653,581 shares of the game software company’s stock valued at $94,456,000 after acquiring an additional 13,461 shares in the last quarter. GAMMA Investing LLC boosted its position in Electronic Arts by 11,587.9% during the 1st quarter. GAMMA Investing LLC now owns 669,367 shares of the game software company’s stock valued at $96,737,000 after acquiring an additional 663,640 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC boosted its position in shares of Electronic Arts by 45.5% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 16,397 shares of the game software company’s stock worth $2,370,000 after purchasing an additional 5,130 shares in the last quarter. Hedge funds and other institutional investors own 90.23% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on EA. UBS Group raised their target price on Electronic Arts from $152.00 to $167.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 7th. Wedbush restated an “outperform” rating and issued a $210.00 price target on shares of Electronic Arts in a research note on Tuesday, July 22nd. Citigroup restated a “neutral” rating and issued a $153.00 price target (up previously from $139.00) on shares of Electronic Arts in a research note on Thursday, May 29th. Roth Capital upgraded Electronic Arts from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $175.00 to $185.00 in a report on Tuesday, June 24th. Finally, Robert W. Baird set a $168.00 target price on Electronic Arts in a report on Wednesday, May 7th. Fifteen research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $162.92.

Electronic Arts Stock Performance

Shares of EA opened at $147.79 on Wednesday. Electronic Arts Inc. has a 12 month low of $115.21 and a 12 month high of $168.50. The company’s fifty day moving average is $150.98 and its 200-day moving average is $142.97. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.23. The firm has a market cap of $37.14 billion, a price-to-earnings ratio of 34.86, a price-to-earnings-growth ratio of 2.06 and a beta of 0.73.

Electronic Arts Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 17th. Shareholders of record on Wednesday, August 27th will be given a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 0.51%. Electronic Arts’s dividend payout ratio is 17.92%.

Insider Buying and Selling at Electronic Arts

In other Electronic Arts news, CEO Andrew Wilson sold 6,563 shares of the business’s stock in a transaction dated Tuesday, May 20th. The shares were sold at an average price of $151.18, for a total value of $992,194.34. Following the completion of the transaction, the chief executive officer directly owned 70,059 shares of the company’s stock, valued at approximately $10,591,519.62. The trade was a 8.57% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Jacob J. Schatz sold 1,500 shares of the business’s stock in a transaction dated Tuesday, July 15th. The stock was sold at an average price of $148.32, for a total transaction of $222,480.00. Following the completion of the transaction, the executive vice president directly owned 28,448 shares of the company’s stock, valued at approximately $4,219,407.36. This represents a 5.01% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 31,729 shares of company stock valued at $4,822,884 over the last quarter. 0.24% of the stock is currently owned by 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.