Deroy & Devereaux Private Investment Counsel Inc. Buys 102,673 Shares of Electronic Arts Inc. (NASDAQ:EA)

Deroy & Devereaux Private Investment Counsel Inc. boosted its position in shares of Electronic Arts Inc. (NASDAQ:EA) by 108.5% in the 1st quarter, Holdings Channel reports. The institutional investor owned 197,304 shares of the game software company’s stock after buying an additional 102,673 shares during the quarter. Electronic Arts accounts for 1.7% of Deroy & Devereaux Private Investment Counsel Inc.’s investment portfolio, making the stock its 22nd largest holding. Deroy & Devereaux Private Investment Counsel Inc.’s holdings in Electronic Arts were worth $28,514,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the company. Capital International Investors boosted its position in Electronic Arts by 5.2% in the 4th quarter. Capital International Investors now owns 12,156,791 shares of the game software company’s stock valued at $1,778,553,000 after buying an additional 605,796 shares during the period. Geode Capital Management LLC raised its stake in shares of Electronic Arts by 0.5% during the fourth quarter. Geode Capital Management LLC now owns 6,702,586 shares of the game software company’s stock valued at $978,650,000 after acquiring an additional 30,929 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in shares of Electronic Arts by 6.5% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 4,430,409 shares of the game software company’s stock valued at $648,169,000 after purchasing an additional 270,991 shares during the period. Northern Trust Corp grew its stake in Electronic Arts by 12.4% in the fourth quarter. Northern Trust Corp now owns 3,257,281 shares of the game software company’s stock worth $476,540,000 after purchasing an additional 360,563 shares in the last quarter. Finally, Invesco Ltd. grew its position in shares of Electronic Arts by 3.9% during the 4th quarter. Invesco Ltd. now owns 3,228,721 shares of the game software company’s stock worth $472,362,000 after buying an additional 120,632 shares in the last quarter. Institutional investors own 90.23% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on EA. TD Cowen lifted their price objective on Electronic Arts from $160.00 to $172.00 and gave the company a “buy” rating in a report on Wednesday, May 7th. HSBC upgraded shares of Electronic Arts from a “hold” rating to a “buy” rating and set a $190.00 price target for the company in a report on Wednesday, May 7th. Roth Capital upgraded shares of Electronic Arts from a “neutral” rating to a “buy” rating and increased their price objective for the company from $175.00 to $185.00 in a research note on Tuesday, June 24th. JPMorgan Chase & Co. boosted their price objective on shares of Electronic Arts from $135.00 to $160.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 7th. Finally, Robert W. Baird set a $168.00 price target on Electronic Arts in a report on Wednesday, May 7th. Fourteen investment analysts have rated the stock with a hold rating, eleven have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Electronic Arts has an average rating of “Moderate Buy” and a consensus price target of $162.80.

Insider Activity at Electronic Arts

In related news, CFO Stuart Canfield sold 1,000 shares of the company’s stock in a transaction dated Tuesday, May 20th. The shares were sold at an average price of $151.32, for a total transaction of $151,320.00. Following the completion of the transaction, the chief financial officer owned 14,533 shares in the company, valued at $2,199,133.56. This represents a 6.44% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Vijayanthimala Singh sold 1,000 shares of Electronic Arts stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $159.53, for a total value of $159,530.00. Following the completion of the sale, the insider owned 37,131 shares in the company, valued at approximately $5,923,508.43. The trade was a 2.62% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 31,729 shares of company stock valued at $4,784,679 in the last quarter. 0.22% of the stock is currently owned by insiders.

Electronic Arts Trading Down 1.1%

Electronic Arts stock opened at $155.35 on Friday. The firm has a market cap of $39.03 billion, a PE ratio of 36.64, a P/E/G ratio of 2.13 and a beta of 0.73. Electronic Arts Inc. has a 12 month low of $115.21 and a 12 month high of $168.50. The stock’s 50 day simple moving average is $150.47 and its two-hundred day simple moving average is $142.43. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.23.

Electronic Arts Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 18th. Investors of record on Wednesday, May 28th were given a dividend of $0.19 per share. The ex-dividend date of this dividend was Wednesday, May 28th. This represents a $0.76 annualized dividend and a yield of 0.49%. Electronic Arts’s dividend payout ratio 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.