Montecito Bank & Trust Raises Stock Position in Electronic Arts Inc. (NASDAQ:EA)

Montecito Bank & Trust raised its stake in Electronic Arts Inc. (NASDAQ:EA) by 65.9% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,014 shares of the game software company’s stock after buying an additional 1,595 shares during the period. Montecito Bank & Trust’s holdings in Electronic Arts were worth $576,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Opal Wealth Advisors LLC purchased a new position in shares of Electronic Arts during the 2nd quarter worth approximately $28,000. Family Firm Inc. purchased a new position in shares of Electronic Arts during the 2nd quarter worth approximately $33,000. Reston Wealth Management LLC purchased a new position in shares of Electronic Arts during the 3rd quarter worth approximately $36,000. Gradient Investments LLC increased its stake in shares of Electronic Arts by 592.1% during the 2nd quarter. Gradient Investments LLC now owns 263 shares of the game software company’s stock worth $37,000 after purchasing an additional 225 shares in the last quarter. Finally, New Covenant Trust Company N.A. purchased a new position in shares of Electronic Arts during the 1st quarter worth approximately $35,000. 90.23% of the stock is owned by hedge funds and other institutional investors.

Electronic Arts Stock Performance

Electronic Arts stock opened at $160.00 on Friday. Electronic Arts Inc. has a 12-month low of $124.92 and a 12-month high of $160.31. The company has a market capitalization of $41.96 billion, a price-to-earnings ratio of 41.13, a price-to-earnings-growth ratio of 2.00 and a beta of 0.78. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.43 and a quick ratio of 1.45. The firm’s fifty day moving average price is $145.54 and its 200 day moving average price is $141.03.

Electronic Arts Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Wednesday, November 27th will be given a $0.19 dividend. This represents a $0.76 annualized dividend and a dividend yield of 0.48%. The ex-dividend date is Wednesday, November 27th. Electronic Arts’s payout ratio is currently 19.54%.

Insider Transactions at Electronic Arts

In other news, insider Laura Miele sold 2,500 shares of the business’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $158.03, for a total value of $395,075.00. Following the completion of the sale, the insider now owns 50,433 shares of the company’s stock, valued at approximately $7,969,926.99. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Vijayanthimala Singh sold 1,000 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $151.70, for a total transaction of $151,700.00. Following the completion of the sale, the insider now owns 30,190 shares of the company’s stock, valued at $4,579,823. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Laura Miele sold 2,500 shares of the business’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $158.03, for a total transaction of $395,075.00. Following the sale, the insider now directly owns 50,433 shares of the company’s stock, valued at approximately $7,969,926.99. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 26,144 shares of company stock valued at $3,886,282. Insiders own 0.22% of the company’s stock.

Analyst Ratings Changes

Several analysts have commented on EA shares. UBS Group lifted their target price on shares of Electronic Arts from $155.00 to $160.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. Bank of America lifted their price target on shares of Electronic Arts from $150.00 to $170.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. Oppenheimer lifted their price target on shares of Electronic Arts from $150.00 to $170.00 and gave the company an “outperform” rating in a report on Tuesday, July 16th. Robert W. Baird lifted their price target on shares of Electronic Arts from $170.00 to $175.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Finally, Stifel Nicolaus lifted their price target on shares of Electronic Arts from $165.00 to $167.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. Eight research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $165.37.

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.