Inspire Trust Co. N.A. Has $2.01 Million Stake in Electronic Arts Inc. (NASDAQ:EA)

Inspire Trust Co. N.A. boosted its stake in Electronic Arts Inc. (NASDAQ:EA) by 47.4% in the third quarter, HoldingsChannel reports. The firm owned 14,000 shares of the game software company’s stock after acquiring an additional 4,499 shares during the period. Inspire Trust Co. N.A.’s holdings in Electronic Arts were worth $2,008,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. Huntington National Bank lifted its position in Electronic Arts by 983.4% in the 3rd quarter. Huntington National Bank now owns 257,902 shares of the game software company’s stock valued at $36,993,000 after acquiring an additional 234,098 shares in the last quarter. Greenwood Capital Associates LLC bought a new position in shares of Electronic Arts in the 3rd quarter valued at about $5,597,000. Dai ichi Life Insurance Company Ltd lifted its position in shares of Electronic Arts by 20.8% in the third quarter. Dai ichi Life Insurance Company Ltd now owns 64,170 shares of the game software company’s stock valued at $9,205,000 after buying an additional 11,058 shares during the last quarter. Chesapeake Capital Corp IL bought a new position in Electronic Arts during the third quarter worth $950,000. Finally, Assenagon Asset Management S.A. grew its stake in Electronic Arts by 206.4% in the 2nd quarter. Assenagon Asset Management S.A. now owns 81,679 shares of the game software company’s stock valued at $11,380,000 after buying an additional 55,020 shares during the last quarter. 90.23% of the stock is currently owned by institutional investors and hedge funds.

Electronic Arts Trading Down 0.8 %

Shares of Electronic Arts stock opened at $162.59 on Friday. The stock has a fifty day simple moving average of $155.72 and a 200 day simple moving average of $147.22. The company has a market capitalization of $42.64 billion, a P/E ratio of 41.80, a price-to-earnings-growth ratio of 2.14 and a beta of 0.79. The company has a current ratio of 1.43, a quick ratio of 1.43 and a debt-to-equity ratio of 0.25. Electronic Arts Inc. has a 12-month low of $124.92 and a 12-month high of $168.50.

Electronic Arts Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Wednesday, November 27th will be given a $0.19 dividend. The ex-dividend date of this dividend is Wednesday, November 27th. This represents a $0.76 annualized dividend and a yield of 0.47%. Electronic Arts’s dividend payout ratio is currently 19.54%.

Insider Buying and Selling

In other Electronic Arts news, EVP Jacob J. Schatz sold 1,500 shares of the stock in a transaction on Monday, September 16th. The stock was sold at an average price of $146.58, for a total transaction of $219,870.00. Following the sale, the executive vice president now owns 26,360 shares in the company, valued at $3,863,848.80. This represents a 5.38 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Andrew Wilson sold 5,000 shares of the company’s stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $166.47, for a total value of $832,350.00. Following the sale, the chief executive officer now owns 52,615 shares in the company, valued at approximately $8,758,819.05. This represents a 8.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 20,000 shares of company stock valued at $3,086,270. 0.22% of the stock is owned by insiders.

Analysts Set New Price Targets

Several research firms have weighed in on EA. UBS Group increased their price objective on Electronic Arts from $155.00 to $160.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. DZ Bank raised Electronic Arts from a “hold” rating to a “buy” rating and boosted their price target for the stock from $135.00 to $177.00 in a report on Thursday, October 31st. StockNews.com raised Electronic Arts from a “buy” rating to a “strong-buy” rating in a report on Thursday, October 31st. BNP Paribas upgraded shares of Electronic Arts to a “strong-buy” rating in a research report on Wednesday, October 9th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $160.00 price objective on shares of Electronic Arts in a research note on Wednesday, September 18th. Seven investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $165.37.

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.