Castlekeep Investment Advisors LLC Invests $2.35 Million in Electronic Arts Inc. (NASDAQ:EA)

Castlekeep Investment Advisors LLC acquired a new stake in Electronic Arts Inc. (NASDAQ:EA) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 16,093 shares of the game software company’s stock, valued at approximately $2,354,000.

A number of other hedge funds have also recently modified their holdings of the company. Whipplewood Advisors LLC acquired a new position in Electronic Arts during the 4th quarter worth about $32,000. LGT Financial Advisors LLC purchased a new position in shares of Electronic Arts during the fourth quarter worth approximately $33,000. Millstone Evans Group LLC purchased a new position in Electronic Arts during the 4th quarter worth $37,000. SBI Securities Co. Ltd. purchased a new position in shares of Electronic Arts during the fourth quarter worth about $41,000. Finally, OFI Invest Asset Management acquired a new position in shares of Electronic Arts in the fourth quarter valued at approximately $42,000. Hedge funds and other institutional investors own 90.23% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on EA. Citigroup dropped their price target on shares of Electronic Arts from $163.00 to $139.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 4th. Moffett Nathanson reaffirmed a “neutral” rating and set a $163.00 price target on shares of Electronic Arts in a research note on Wednesday, May 7th. Bank of America upped their target price on Electronic Arts from $130.00 to $132.00 and gave the company a “neutral” rating in a research note on Wednesday, February 5th. BMO Capital Markets decreased their price target on shares of Electronic Arts from $145.00 to $142.00 and set a “market perform” rating on the stock in a research note on Wednesday, February 5th. Finally, Morgan Stanley lifted their price objective on 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 equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $161.29.

Insiders Place Their Bets

In other news, CEO Andrew Wilson sold 5,000 shares of the stock in a transaction on Thursday, March 20th. The stock was sold at an average price of $142.50, for a total transaction of $712,500.00. Following the completion of the sale, the chief executive officer now owns 32,615 shares in the company, valued at approximately $4,647,637.50. This represents a 13.29% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Vijayanthimala Singh sold 1,000 shares of Electronic Arts stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $145.00, for a total value of $145,000.00. Following the completion of the transaction, the insider now owns 26,216 shares in the company, valued at $3,801,320. The trade was a 3.67% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 27,729 shares of company stock worth $4,107,664. 0.22% of the stock is owned by corporate insiders.

Electronic Arts Stock Up 0.2%

EA opened at $146.89 on Friday. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.38 and a current ratio of 1.38. The company has a market capitalization of $36.84 billion, a PE ratio of 37.38, a P/E/G ratio of 3.58 and a beta of 0.74. The stock’s fifty day moving average is $145.49 and its 200-day moving average is $144.96. Electronic Arts Inc. has a one year low of $115.21 and a one year high of $168.50.

Electronic Arts Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 18th. Shareholders of record on Wednesday, May 28th will be given a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 0.52%. The ex-dividend date is Wednesday, May 28th. Electronic Arts’s dividend payout ratio (DPR) is presently 17.92%.

Electronic Arts Company 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.