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

Bank Pictet & Cie Europe AG lifted its stake in shares of Electronic Arts Inc. (NASDAQ:EA) by 0.8% during the 3rd quarter, HoldingsChannel reports. The fund owned 209,778 shares of the game software company’s stock after acquiring an additional 1,709 shares during the period. Bank Pictet & Cie Europe AG’s holdings in Electronic Arts were worth $30,091,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. BI Asset Management Fondsmaeglerselskab A S lifted its stake in shares of Electronic Arts by 82.6% in the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 25,074 shares of the game software company’s stock valued at $3,327,000 after purchasing an additional 11,343 shares in the last quarter. FORA Capital LLC increased its holdings in Electronic Arts by 209.7% in the 1st quarter. FORA Capital LLC now owns 45,985 shares of the game software company’s stock valued at $6,101,000 after purchasing an additional 31,136 shares in the last quarter. Duality Advisers LP purchased a new position in Electronic Arts in the first quarter valued at about $1,711,000. State Board of Administration of Florida Retirement System lifted its stake in shares of Electronic Arts by 13.5% during the first quarter. State Board of Administration of Florida Retirement System now owns 348,670 shares of the game software company’s stock worth $46,258,000 after purchasing an additional 41,567 shares in the last quarter. Finally, Vanguard Group Inc. boosted its position in shares of Electronic Arts by 14.7% in the first quarter. Vanguard Group Inc. now owns 29,159,718 shares of the game software company’s stock worth $3,868,620,000 after buying an additional 3,727,251 shares during the period. 90.23% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CEO Andrew Wilson sold 2,500 shares of Electronic Arts stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $142.42, for a total value of $356,050.00. Following the sale, the chief executive officer now directly owns 59,247 shares in the company, valued at $8,437,957.74. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, CEO Andrew Wilson sold 2,500 shares of the stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $142.42, for a total value of $356,050.00. Following the completion of the transaction, the chief executive officer now directly owns 59,247 shares of the company’s stock, valued at $8,437,957.74. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Stuart Canfield sold 1,260 shares of Electronic Arts stock in a transaction on Monday, August 19th. The shares were sold at an average price of $148.37, for a total value of $186,946.20. Following the sale, the chief financial officer now directly owns 7,553 shares in the company, valued at $1,120,638.61. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 24,770 shares of company stock valued at $3,643,785 over the last three months. Company insiders own 0.22% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on EA shares. Bank of America raised their target price on Electronic Arts from $150.00 to $170.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. Roth Mkm reiterated a “neutral” rating and set a $154.00 price objective on shares of Electronic Arts in a research note on Thursday, September 19th. JPMorgan Chase & Co. upped their target price on shares of Electronic Arts from $148.00 to $155.00 and gave the company a “neutral” rating in a research note on Monday, July 15th. BNP Paribas raised shares of Electronic Arts to a “strong-buy” rating in a report on Wednesday, October 9th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $160.00 price objective on shares of Electronic Arts in a report on Wednesday, September 18th. Nine equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $161.94.

Electronic Arts Stock Performance

Shares of EA opened at $145.72 on Wednesday. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.45 and a quick ratio of 1.45. Electronic Arts Inc. has a 12-month low of $119.92 and a 12-month high of $153.51. The business’s fifty day moving average price is $145.14 and its 200 day moving average price is $139.33. The stock has a market capitalization of $38.72 billion, a PE ratio of 31.14, a price-to-earnings-growth ratio of 1.95 and a beta of 0.79.

Electronic Arts (NASDAQ:EA) last posted its quarterly earnings results on Tuesday, July 30th. The game software company reported $0.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.03 by $0.06. Electronic Arts had a net margin of 15.77% and a return on equity of 16.34%. The company had revenue of $1.26 billion for the quarter, compared to the consensus estimate of $1.21 billion. Equities research analysts forecast that Electronic Arts Inc. will post 5.93 EPS for the current year.

Electronic Arts Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 18th. Investors of record on Wednesday, August 28th were paid a dividend of $0.19 per share. The ex-dividend date of this dividend was Wednesday, August 28th. This represents a $0.76 dividend on an annualized basis and a yield of 0.52%. Electronic Arts’s payout ratio is currently 16.24%.

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.