Banque Pictet & Cie SA Decreases Position in Electronic Arts Inc. (NASDAQ:EA)

Banque Pictet & Cie SA lowered its stake in shares of Electronic Arts Inc. (NASDAQ:EA) by 72.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 92,503 shares of the game software company’s stock after selling 239,285 shares during the quarter. Banque Pictet & Cie SA’s holdings in Electronic Arts were worth $13,533,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of EA. Swedbank AB grew its holdings in Electronic Arts by 6.3% during the 4th quarter. Swedbank AB now owns 1,607,817 shares of the game software company’s stock worth $235,224,000 after acquiring an additional 95,190 shares in the last quarter. Atomi Financial Group Inc. purchased a new stake in shares of Electronic Arts during the 4th quarter worth $217,000. Huntington National Bank lifted its position in shares of Electronic Arts by 983.4% during the 3rd quarter. Huntington National Bank now owns 257,902 shares of the game software company’s stock worth $36,993,000 after purchasing an additional 234,098 shares during the last quarter. Deroy & Devereaux Private Investment Counsel Inc. acquired a new position in shares of Electronic Arts during the fourth quarter worth $13,845,000. Finally, Dai ichi Life Insurance Company Ltd increased its holdings in 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. 90.23% of the stock is currently owned by institutional investors and hedge funds.

Electronic Arts Price Performance

Shares of NASDAQ:EA opened at $129.82 on Friday. The company has a market cap of $33.83 billion, a P/E ratio of 33.03, a PEG ratio of 2.74 and a beta of 0.79. The company has a 50-day moving average price of $141.18 and a 200 day moving average price of $147.02. Electronic Arts Inc. has a 52 week low of $115.21 and a 52 week high of $168.50. The company has a quick ratio of 1.43, a current ratio of 1.38 and a debt-to-equity ratio of 0.25.

Electronic Arts (NASDAQ:EA) last announced its quarterly earnings data on Tuesday, February 4th. The game software company reported $2.34 earnings per share for the quarter, missing analysts’ consensus estimates of $3.41 by ($1.07). Electronic Arts had a return on equity of 17.80% and a net margin of 14.28%. Research analysts predict that Electronic Arts Inc. will post 4.99 earnings per share for the current year.

Electronic Arts Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 19th. Investors of record on Wednesday, February 26th will be paid a $0.19 dividend. This represents a $0.76 annualized dividend and a dividend yield of 0.59%. The ex-dividend date is Wednesday, February 26th. Electronic Arts’s dividend payout ratio (DPR) is 19.34%.

Analyst Ratings Changes

A number of analysts have issued reports on EA shares. Raymond James downgraded Electronic Arts from an “outperform” rating to a “market perform” rating in a report on Thursday, January 23rd. Stifel Nicolaus lowered their target price on shares of Electronic Arts from $167.00 to $159.00 and set a “hold” rating for the company in a report on Tuesday, January 21st. Oppenheimer cut their price target on shares of Electronic Arts from $170.00 to $165.00 and set an “outperform” rating on the stock in a research note on Tuesday, January 21st. Citigroup decreased their price objective on shares of Electronic Arts from $163.00 to $139.00 and set a “neutral” rating for the company in a research note on Tuesday, February 4th. Finally, Wedbush reaffirmed an “outperform” rating and set a $173.00 price objective on shares of Electronic Arts in a report on Thursday, January 23rd. Twelve equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, Electronic Arts presently has an average rating of “Hold” and a consensus target price of $155.24.

Insider Buying and Selling

In other Electronic Arts news, insider Vijayanthimala Singh sold 1,000 shares of Electronic Arts stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $164.45, for a total value of $164,450.00. Following the completion of the sale, the insider now directly owns 30,216 shares of the company’s stock, valued at approximately $4,969,021.20. The trade was a 3.20 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Andrew Wilson sold 5,000 shares of Electronic Arts stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $166.47, for a total value of $832,350.00. Following the completion of the sale, the chief executive officer now directly owns 52,615 shares of the company’s stock, valued at approximately $8,758,819.05. This represents a 8.68 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 24,500 shares of company stock valued at $3,644,635. Corporate insiders own 0.22% of the company’s stock.

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.