Banque Pictet & Cie SA Decreases Holdings in Electronic Arts Inc. $EA

Key Points

• Banque Pictet & Cie SA reduced its holdings in Electronic Arts Inc. by 4.4%, selling 4,214 shares in the second quarter and now owns 90,970 shares worth approximately $14.5 million.
• Institutional investors own about 90.23% of Electronic Arts, with MEAG Munich Ergo and Maridea Wealth Management being notable new stakeholders during the second quarter.
• Wall Street analysts have mixed ratings for Electronic Arts, with an average price target of $167.40, suggesting a generally optimistic outlook despite varied individual ratings.

Banque Pictet & Cie SA lessened its holdings in Electronic Arts Inc. (NASDAQ:EA - Free Report) by 4.4% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 90,970 shares of the game software company's stock after selling 4,214 shares during the quarter. Banque Pictet & Cie SA's holdings in Electronic Arts were worth $14,528,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH bought a new stake in shares of Electronic Arts in the 2nd quarter valued at about $2,228,000. Maridea Wealth Management LLC bought a new position in Electronic Arts during the 2nd quarter worth approximately $445,000. Foster Victor Wealth Advisors LLC increased its stake in Electronic Arts by 4.6% in the 2nd quarter. Foster Victor Wealth Advisors LLC now owns 91,328 shares of the game software company's stock worth $13,944,000 after purchasing an additional 3,999 shares during the period. Financial Management Professionals Inc. lifted its position in Electronic Arts by 13.6% in the second quarter. Financial Management Professionals Inc. now owns 636 shares of the game software company's stock valued at $102,000 after purchasing an additional 76 shares during the last quarter. Finally, Norden Group LLC bought a new stake in Electronic Arts in the second quarter valued at approximately $214,000. 90.23% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the stock. Arete Research set a $192.00 price target on shares of Electronic Arts in a report on Tuesday, August 5th. Arete upgraded shares of Electronic Arts from a "neutral" rating to a "buy" rating and set a $192.00 price objective on the stock in a research report on Tuesday, August 5th. Wells Fargo & Company set a $168.00 target price on Electronic Arts and gave the company an "equal weight" rating in a report on Monday, July 28th. Wall Street Zen cut Electronic Arts from a "buy" rating to a "hold" rating in a research report on Saturday, August 2nd. Finally, Roth Capital upgraded Electronic Arts from a "neutral" rating to a "buy" rating and lifted their price target for the company from $175.00 to $185.00 in a research report on Tuesday, June 24th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and fourteen have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $167.40.

Insider Activity

In other news, insider Vijayanthimala Singh sold 1,200 shares of the company's stock in a transaction that occurred on Monday, September 15th. The shares were sold at an average price of $171.52, for a total value of $205,824.00. Following the transaction, the insider owned 34,731 shares in the company, valued at approximately $5,957,061.12. This represents a 3.34% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Jacob J. Schatz sold 1,500 shares of the stock in a transaction that occurred on Tuesday, July 15th. The shares were sold at an average price of $148.32, for a total transaction of $222,480.00. Following the sale, the executive vice president owned 28,448 shares in the company, valued at approximately $4,219,407.36. The trade was a 5.01% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 30,800 shares of company stock worth $5,077,960. 0.24% of the stock is currently owned by company insiders.

Electronic Arts Stock Performance

Electronic Arts stock opened at $168.32 on Friday. Electronic Arts Inc. has a twelve month low of $115.21 and a twelve month high of $180.90. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.24. The company has a market capitalization of $42.12 billion, a P/E ratio of 42.19, a PEG ratio of 2.54 and a beta of 0.75. The stock's 50 day moving average is $166.81 and its 200 day moving average is $154.05.

Electronic Arts Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 17th. Stockholders of record on Wednesday, August 27th were issued a dividend of $0.19 per share. The ex-dividend date was Wednesday, August 27th. This represents a $0.76 annualized dividend and a dividend yield of 0.5%. Electronic Arts's dividend payout ratio (DPR) is presently 19.05%.

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.

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