Banque Pictet & Cie SA Buys 2,681 Shares of Electronic Arts Inc. (NASDAQ:EA)

Banque Pictet & Cie SA raised its position in Electronic Arts Inc. (NASDAQ:EA - Free Report) by 2.9% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 95,184 shares of the game software company's stock after buying an additional 2,681 shares during the quarter. Banque Pictet & Cie SA's holdings in Electronic Arts were worth $13,756,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Putney Financial Group LLC acquired a new stake in Electronic Arts in the fourth quarter valued at about $26,000. Opal Wealth Advisors LLC acquired a new stake in Electronic Arts in the first quarter valued at about $28,000. LGT Financial Advisors LLC bought a new position in Electronic Arts in the fourth quarter valued at about $33,000. Millstone Evans Group LLC acquired a new stake in Electronic Arts during the fourth quarter worth approximately $37,000. Finally, Wayfinding Financial LLC acquired a new stake in Electronic Arts in the first quarter valued at approximately $39,000. 90.23% of the stock is owned by institutional investors and hedge funds.

Electronic Arts Stock Down 1.7%

Shares of Electronic Arts stock traded down $2.61 on Friday, hitting $148.69. The company had a trading volume of 1,840,332 shares, compared to its average volume of 2,813,522. Electronic Arts Inc. has a twelve month low of $115.21 and a twelve month high of $168.50. The stock has a 50-day moving average of $151.14 and a 200-day moving average of $142.55. The firm has a market capitalization of $37.36 billion, a P/E ratio of 35.07, a P/E/G ratio of 2.05 and a beta of 0.73. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.95 and a quick ratio of 0.95.

Electronic Arts Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 18th. Stockholders of record on Wednesday, May 28th were given a $0.19 dividend. This represents a $0.76 annualized dividend and a dividend yield of 0.51%. The ex-dividend date of this dividend was Wednesday, May 28th. Electronic Arts's payout ratio is presently 17.92%.

Insider Activity at Electronic Arts

In related news, EVP Jacob J. Schatz sold 1,500 shares of the firm's stock in a transaction dated Tuesday, April 15th. The shares were sold at an average price of $145.65, for a total transaction of $218,475.00. Following the transaction, the executive vice president directly owned 19,033 shares of the company's stock, valued at approximately $2,772,156.45. This trade represents a 7.31% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Andrew Wilson sold 6,563 shares of the firm'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 transaction of $992,194.34. Following the completion of the sale, the chief executive officer owned 70,059 shares in the company, valued at approximately $10,591,519.62. The trade was a 8.57% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 31,729 shares of company stock valued at $4,784,679 over the last three months. Company insiders own 0.24% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. Oppenheimer upped their price target on Electronic Arts from $170.00 to $185.00 and gave the company an "outperform" rating in a research report on Wednesday, May 7th. Benchmark upped their price objective on shares of Electronic Arts from $160.00 to $180.00 and gave the stock a "buy" rating in a research report on Wednesday, May 7th. The Goldman Sachs Group increased their price objective on Electronic Arts from $135.00 to $155.00 and gave the company a "neutral" rating in a research report on Thursday, May 8th. JPMorgan Chase & Co. increased their target price on Electronic Arts from $135.00 to $160.00 and gave the company a "neutral" rating in a report on Wednesday, May 7th. Finally, Wedbush upgraded Electronic Arts to a "strong-buy" rating in a report on Tuesday, July 1st. Fourteen research analysts have rated the stock with a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, Electronic Arts presently has a consensus rating of "Moderate Buy" and an average target price of $162.71.

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.