Montecito Bank & Trust Purchases 594 Shares of Electronic Arts Inc. (NASDAQ:EA)

Montecito Bank & Trust grew its position in shares of Electronic Arts Inc. (NASDAQ:EA) by 14.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,608 shares of the game software company’s stock after buying an additional 594 shares during the period. Montecito Bank & Trust’s holdings in Electronic Arts were worth $666,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of EA. Mission Wealth Management LP raised its position in shares of Electronic Arts by 11.5% in the first quarter. Mission Wealth Management LP now owns 4,474 shares of the game software company’s stock valued at $647,000 after buying an additional 461 shares in the last quarter. Opal Wealth Advisors LLC acquired a new position in Electronic Arts in the 1st quarter valued at $28,000. Wealth Enhancement Advisory Services LLC raised its holdings in 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 valued at $2,370,000 after acquiring an additional 5,130 shares in the last quarter. NorthCrest Asset Manangement LLC lifted its position in shares of Electronic Arts by 6.6% during the 1st quarter. NorthCrest Asset Manangement LLC now owns 35,741 shares of the game software company’s stock valued at $5,165,000 after acquiring an additional 2,220 shares during the period. Finally, Tobam grew its holdings in shares of Electronic Arts by 6,171.6% during the 1st quarter. Tobam now owns 24,773 shares of the game software company’s stock worth $3,580,000 after purchasing an additional 24,378 shares in the last quarter. Institutional investors and hedge funds own 90.23% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on EA. TD Cowen upped their price objective on shares of Electronic Arts from $160.00 to $172.00 and gave the stock a “buy” rating in a research report on Wednesday, May 7th. The Goldman Sachs Group increased their price target on shares of Electronic Arts from $135.00 to $155.00 and gave the stock a “neutral” rating in a research report on Thursday, May 8th. Robert W. Baird set a $168.00 price objective on shares of Electronic Arts in a research report on Wednesday, May 7th. HSBC upgraded Electronic Arts from a “hold” rating to a “buy” rating and set a $190.00 target price for the company in a research note on Wednesday, May 7th. Finally, JPMorgan Chase & Co. lifted their price target on Electronic Arts from $135.00 to $160.00 and gave the company a “neutral” rating in a research note on Wednesday, May 7th. Fifteen analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $161.88.

Electronic Arts Price Performance

Shares of NASDAQ:EA opened at $151.10 on Tuesday. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.38 and a current ratio of 1.38. Electronic Arts Inc. has a 52 week low of $115.21 and a 52 week high of $168.50. The firm has a market cap of $37.89 billion, a PE ratio of 38.45, a price-to-earnings-growth ratio of 3.58 and a beta of 0.71. The firm’s fifty day moving average is $147.25 and its 200-day moving average is $142.92.

Electronic Arts Dividend Announcement

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

Insider Buying and Selling at Electronic Arts

In related news, insider Vijayanthimala Singh sold 1,000 shares of Electronic Arts stock in a transaction 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 completion of the transaction, the insider now owns 26,216 shares of the company’s stock, valued at $3,801,320. This trade represents a 3.67% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Andrew Wilson sold 2,666 shares of the company’s stock in a transaction on Wednesday, May 21st. The shares were sold at an average price of $150.93, for a total transaction of $402,379.38. Following the sale, the chief executive officer now directly owns 67,393 shares in the company, valued at $10,171,625.49. This trade represents a 3.81% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 27,729 shares of company stock worth $4,107,664. Insiders own 0.22% of the company’s stock.

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.