Bank Pictet & Cie Europe AG Trims Stock Holdings in Electronic Arts Inc. (NASDAQ:EA)

Bank Pictet & Cie Europe AG trimmed its holdings in Electronic Arts Inc. (NASDAQ:EA - Free Report) by 64.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,967 shares of the game software company's stock after selling 7,211 shares during the quarter. Bank Pictet & Cie Europe AG's holdings in Electronic Arts were worth $573,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently made changes to their positions in the company. Brighton Jones LLC grew its stake in shares of Electronic Arts by 9.4% in the 4th quarter. Brighton Jones LLC now owns 3,420 shares of the game software company's stock valued at $500,000 after buying an additional 294 shares during the period. Empowered Funds LLC grew its stake in Electronic Arts by 32.4% in the fourth quarter. Empowered Funds LLC now owns 7,230 shares of the game software company's stock valued at $1,058,000 after acquiring an additional 1,771 shares during the period. Savant Capital LLC increased its holdings in shares of Electronic Arts by 11.8% during the fourth quarter. Savant Capital LLC now owns 3,622 shares of the game software company's stock valued at $530,000 after acquiring an additional 381 shares in the last quarter. Financiere des Professionnels Fonds d investissement inc. increased its holdings in shares of Electronic Arts by 43.2% during the fourth quarter. Financiere des Professionnels Fonds d investissement inc. now owns 31,463 shares of the game software company's stock valued at $4,603,000 after acquiring an additional 9,488 shares in the last quarter. Finally, CIBC Asset Management Inc raised its position in shares of Electronic Arts by 2.0% during the fourth quarter. CIBC Asset Management Inc now owns 81,616 shares of the game software company's stock worth $11,940,000 after purchasing an additional 1,612 shares during the period. Institutional investors own 90.23% of the company's stock.

Analysts Set New Price Targets

A number of analysts have commented on the stock. TD Cowen boosted their price target on shares of Electronic Arts from $160.00 to $172.00 and gave the company a "buy" rating in a research note on Wednesday, May 7th. Roth Capital reissued a "neutral" rating on shares of Electronic Arts in a research report on Wednesday, May 7th. Benchmark raised their price target on shares of Electronic Arts from $160.00 to $180.00 and gave the company a "buy" rating in a research report on Wednesday, May 7th. 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. Finally, Oppenheimer increased their price objective on Electronic Arts from $170.00 to $185.00 and gave the stock an "outperform" rating in a research note on Wednesday, May 7th. Fifteen equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $161.88.

Electronic Arts Price Performance

NASDAQ EA traded down $0.77 during trading on Tuesday, reaching $150.33. The company's stock had a trading volume of 2,241,305 shares, compared to its average volume of 2,757,717. The firm has a fifty day moving average of $147.25 and a 200 day moving average of $142.92. The stock has a market capitalization of $37.70 billion, a PE ratio of 38.25, a P/E/G ratio of 3.58 and a beta of 0.71. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.38 and a quick ratio of 1.38. Electronic Arts Inc. has a one year low of $115.21 and a one year high of $168.50.

Electronic Arts Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 18th. Investors of record on Wednesday, May 28th will be given a $0.19 dividend. The ex-dividend date is Wednesday, May 28th. This represents a $0.76 dividend on an annualized basis and a yield of 0.51%. Electronic Arts's payout ratio is 17.92%.

Insider Transactions at Electronic Arts

In related news, insider Vijayanthimala Singh sold 1,000 shares of the firm's stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $145.00, for a total value of $145,000.00. Following the sale, the insider now directly 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Andrew Wilson sold 6,563 shares of the company's stock in a transaction that occurred on Tuesday, May 20th. The shares were sold at an average price of $151.18, for a total value of $992,194.34. Following the transaction, the chief executive officer now owns 70,059 shares of the company's stock, valued at approximately $10,591,519.62. This represents a 8.57% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 27,729 shares of company stock worth $4,107,664. 0.22% of the stock is currently owned by insiders.

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.