Bank Pictet & Cie Europe AG Acquires 36,899 Shares of Electronic Arts Inc. (NASDAQ:EA)

Bank Pictet & Cie Europe AG boosted its position in shares of Electronic Arts Inc. (NASDAQ:EA) by 21.6% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 208,069 shares of the game software company’s stock after buying an additional 36,899 shares during the quarter. Bank Pictet & Cie Europe AG’s holdings in Electronic Arts were worth $28,990,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the stock. Banque Pictet & Cie SA boosted its stake in Electronic Arts by 2.7% in the 2nd quarter. Banque Pictet & Cie SA now owns 323,381 shares of the game software company’s stock worth $45,057,000 after purchasing an additional 8,630 shares in the last quarter. Family Firm Inc. purchased a new stake in Electronic Arts in the 2nd quarter worth approximately $33,000. Grove Bank & Trust grew its holdings in Electronic Arts by 23.5% during the 2nd quarter. Grove Bank & Trust now owns 494 shares of the game software company’s stock valued at $69,000 after buying an additional 94 shares in the last quarter. Van Lanschot Kempen Investment Management N.V. raised its position in shares of Electronic Arts by 31.7% during the second quarter. Van Lanschot Kempen Investment Management N.V. now owns 39,990 shares of the game software company’s stock valued at $5,572,000 after buying an additional 9,634 shares during the last quarter. Finally, Lebenthal Global Advisors LLC increased its position in Electronic Arts by 16.4% in the second quarter. Lebenthal Global Advisors LLC now owns 2,960 shares of the game software company’s stock worth $412,000 after purchasing an additional 417 shares during the last quarter. 90.23% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Electronic Arts

In other news, CEO Andrew Wilson sold 2,500 shares of the stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $132.24, for a total transaction of $330,600.00. Following the sale, the chief executive officer now directly owns 64,247 shares in the company, valued at approximately $8,496,023.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Andrew Wilson sold 2,500 shares of the firm’s stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $132.24, for a total value of $330,600.00. Following the sale, the chief executive officer now directly owns 64,247 shares in the company, valued at approximately $8,496,023.28. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 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 transaction, the chief financial officer now owns 7,553 shares in the company, valued at $1,120,638.61. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 17,986 shares of company stock valued at $2,545,726. Insiders own 0.22% of the company’s stock.

Electronic Arts Trading Up 0.3 %

NASDAQ:EA traded up $0.49 on Friday, hitting $147.62. 1,477,500 shares of the stock were exchanged, compared to its average volume of 2,134,170. The stock has a market cap of $39.23 billion, a PE ratio of 31.54, a PEG ratio of 2.28 and a beta of 0.79. The company has a current ratio of 1.45, a quick ratio of 1.37 and a debt-to-equity ratio of 0.25. The stock has a fifty day moving average of $143.80 and a 200-day moving average of $136.96. Electronic Arts Inc. has a fifty-two week low of $117.47 and a fifty-two week high of $153.51.

Electronic Arts Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 18th. Stockholders of record on Wednesday, August 28th will be given a $0.19 dividend. This represents a $0.76 annualized dividend and a dividend yield of 0.51%. The ex-dividend date is Wednesday, August 28th. Electronic Arts’s payout ratio is 16.24%.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. Bank of America lifted their price objective on shares of Electronic Arts from $150.00 to $170.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. Oppenheimer upped their price objective on shares of Electronic Arts from $150.00 to $170.00 and gave the company an “outperform” rating in a report on Tuesday, July 16th. UBS Group upped their target price on Electronic Arts from $143.00 to $155.00 and gave the company a “neutral” rating in a research report on Wednesday, July 31st. Morgan Stanley upped their price objective on Electronic Arts from $140.00 to $150.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 23rd. Finally, StockNews.com upgraded Electronic Arts from a “hold” rating to a “buy” rating in a research report on Wednesday, June 26th. Nine investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $161.28.

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.