Worldquant Millennium Advisors LLC Takes $27.65 Million Position in Electronic Arts Inc. (NASDAQ:EA)

Worldquant Millennium Advisors LLC acquired a new stake in shares of Electronic Arts Inc. (NASDAQ:EA) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 188,975 shares of the game software company’s stock, valued at approximately $27,647,000. Worldquant Millennium Advisors LLC owned about 0.07% of Electronic Arts at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of EA. Merit Financial Group LLC bought a new position in shares of Electronic Arts during the fourth quarter valued at about $312,000. Arkadios Wealth Advisors raised its stake in shares of Electronic Arts by 13.4% during the fourth quarter. Arkadios Wealth Advisors now owns 3,982 shares of the game software company’s stock valued at $583,000 after acquiring an additional 471 shares during the last quarter. HB Wealth Management LLC raised its stake in shares of Electronic Arts by 8.3% during the fourth quarter. HB Wealth Management LLC now owns 6,412 shares of the game software company’s stock valued at $938,000 after acquiring an additional 493 shares during the last quarter. Aaron Wealth Advisors LLC bought a new position in shares of Electronic Arts during the fourth quarter valued at about $246,000. Finally, Grove Bank & Trust raised its stake in shares of Electronic Arts by 60.3% during the fourth quarter. Grove Bank & Trust now owns 521 shares of the game software company’s stock valued at $76,000 after acquiring an additional 196 shares during the last quarter. 90.23% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on EA shares. Roth Mkm lowered their price objective on shares of Electronic Arts from $158.00 to $134.00 and set a “neutral” rating for the company in a research note on Thursday, January 23rd. UBS Group boosted their price target on shares of Electronic Arts from $152.00 to $167.00 and gave the company a “neutral” rating in a research report on Wednesday, May 7th. Bank of America boosted their price target on shares of Electronic Arts from $130.00 to $132.00 and gave the company a “neutral” rating in a research report on Wednesday, February 5th. HSBC upgraded shares of Electronic Arts from a “hold” rating to a “buy” rating and set a $190.00 price target on the stock in a research report on Wednesday, May 7th. Finally, Morgan Stanley boosted their price target on shares of Electronic Arts from $135.00 to $148.00 and gave the company an “equal weight” rating in a research report on Wednesday, May 7th. Fifteen research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Electronic Arts has a consensus rating of “Hold” and a consensus price target of $161.29.

Insider Activity

In other news, insider Vijayanthimala Singh sold 1,000 shares of the stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $145.00, for a total transaction of $145,000.00. Following the sale, the insider now owns 26,216 shares in the company, valued at $3,801,320. This represents a 3.67% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Jacob J. Schatz sold 1,500 shares of the stock in a transaction that occurred on Thursday, May 15th. The shares were sold at an average price of $149.64, for a total transaction of $224,460.00. Following the sale, the executive vice president now owns 17,533 shares in the company, valued at approximately $2,623,638.12. The trade was a 7.88% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 23,500 shares of company stock worth $3,342,580 over the last 90 days. 0.22% of the stock is currently owned by insiders.

Electronic Arts Trading Up 1.0%

NASDAQ:EA opened at $151.92 on Wednesday. The company’s 50 day moving average price is $145.08 and its 200-day moving average price is $145.02. Electronic Arts Inc. has a 52 week low of $115.21 and a 52 week high of $168.50. The company has a quick ratio of 1.38, a current ratio of 1.38 and a debt-to-equity ratio of 0.25. The stock has a market cap of $38.10 billion, a price-to-earnings ratio of 38.66, a PEG ratio of 3.58 and a beta of 0.74.

Electronic Arts Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 18th. Stockholders of record on Wednesday, May 28th will be issued a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 0.50%. The ex-dividend date of this dividend is Wednesday, May 28th. Electronic Arts’s payout ratio is 17.92%.

Electronic Arts Profile

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.