New York Life Investment Management LLC Purchases 51,729 Shares of Electronic Arts Inc. $EA

New York Life Investment Management LLC raised its position in shares of Electronic Arts Inc. (NASDAQ:EA) by 156.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 84,850 shares of the game software company’s stock after acquiring an additional 51,729 shares during the period. New York Life Investment Management LLC’s holdings in Electronic Arts were worth $17,337,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Ameriflex Group Inc. increased its position in Electronic Arts by 100.0% during the third quarter. Ameriflex Group Inc. now owns 138 shares of the game software company’s stock valued at $28,000 after acquiring an additional 69 shares during the last quarter. Oakworth Capital Inc. bought a new position in Electronic Arts during the third quarter valued at $30,000. Salomon & Ludwin LLC increased its position in Electronic Arts by 32.8% during the fourth quarter. Salomon & Ludwin LLC now owns 231 shares of the game software company’s stock valued at $47,000 after acquiring an additional 57 shares during the last quarter. Tidemark LLC bought a new position in Electronic Arts during the third quarter valued at $50,000. Finally, Asset Dedication LLC increased its position in Electronic Arts by 333.3% during the third quarter. Asset Dedication LLC now owns 260 shares of the game software company’s stock valued at $52,000 after acquiring an additional 200 shares during the last quarter. Institutional investors own 90.23% of the company’s stock.

Insider Activity at Electronic Arts

In other news, insider Laura Miele sold 2,500 shares of the company’s stock in a transaction dated Tuesday, February 17th. The shares were sold at an average price of $199.53, for a total value of $498,825.00. Following the transaction, the insider directly owned 48,343 shares in the company, valued at approximately $9,645,878.79. This represents a 4.92% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Stuart Canfield sold 1,500 shares of the company’s stock in a transaction dated Tuesday, February 17th. The stock was sold at an average price of $199.90, for a total transaction of $299,850.00. Following the completion of the transaction, the chief financial officer owned 5,897 shares in the company, valued at approximately $1,178,810.30. The trade was a 20.28% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 27,600 shares of company stock valued at $5,544,159. Company insiders own 0.24% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have weighed in on EA. UBS Group reiterated a “neutral” rating on shares of Electronic Arts in a research report on Wednesday, February 4th. Citigroup boosted their price objective on shares of Electronic Arts from $202.00 to $204.00 and gave the company a “neutral” rating in a research report on Thursday, May 7th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Electronic Arts in a research report on Monday, May 4th. Three investment analysts have rated the stock with a Buy rating, sixteen have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Electronic Arts currently has an average rating of “Hold” and a consensus price target of $196.64.

Electronic Arts Trading Down 0.1%

NASDAQ EA opened at $200.64 on Friday. The company’s 50-day moving average price is $201.76 and its 200-day moving average price is $202.19. The company has a current ratio of 1.05, a quick ratio of 0.93 and a debt-to-equity ratio of 0.22. The stock has a market cap of $50.31 billion, a PE ratio of 57.49, a PEG ratio of 2.20 and a beta of 0.66. Electronic Arts Inc. has a 12 month low of $141.19 and a 12 month high of $204.88.

Electronic Arts Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 17th. Stockholders of record on Wednesday, May 27th will be issued a $0.19 dividend. The ex-dividend date is Wednesday, May 27th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 0.4%. Electronic Arts’s dividend payout ratio is presently 21.78%.

Electronic Arts Company Profile

Electronic Arts Inc (NASDAQ: EA) is a global interactive entertainment company headquartered in Redwood City, California. Founded in 1982 by Trip Hawkins, EA develops, publishes and distributes video games and related content for a variety of platforms, including consoles, personal computers and mobile devices. The company combines in-house development, partnerships and studio acquisitions to create and maintain a portfolio of entertainment properties and live-service experiences for players worldwide.

EA’s product lineup spans several well-known franchises and genres.