First Mercantile Trust Co. lifted its holdings in Activision Blizzard, Inc. (NASDAQ:ATVI) by 43.3% in the fourth quarter, HoldingsChannel reports. The firm owned 8,317 shares of the company’s stock after purchasing an additional 2,512 shares during the quarter. First Mercantile Trust Co.’s holdings in Activision Blizzard were worth $527,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Macquarie Group Ltd. lifted its position in Activision Blizzard by 0.4% in the second quarter. Macquarie Group Ltd. now owns 12,345 shares of the company’s stock worth $711,000 after buying an additional 45 shares during the last quarter. Checchi Capital Advisers LLC lifted its position in Activision Blizzard by 13.6% in the fourth quarter. Checchi Capital Advisers LLC now owns 6,437 shares of the company’s stock worth $408,000 after buying an additional 769 shares during the last quarter. CI Global Investments Inc. lifted its position in Activision Blizzard by 1.1% in the fourth quarter. CI Global Investments Inc. now owns 69,123 shares of the company’s stock worth $4,377,000 after buying an additional 780 shares during the last quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. lifted its position in Activision Blizzard by 20.8% in the third quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. now owns 4,640 shares of the company’s stock worth $299,000 after buying an additional 800 shares during the last quarter. Finally, Trust Co. of Vermont lifted its position in Activision Blizzard by 2.9% in the fourth quarter. Trust Co. of Vermont now owns 29,031 shares of the company’s stock worth $1,839,000 after buying an additional 809 shares during the last quarter. Institutional investors own 86.04% of the company’s stock.
In related news, CEO Riccardo Zacconi sold 19,761 shares of Activision Blizzard stock in a transaction dated Friday, November 17th. The stock was sold at an average price of $63.64, for a total value of $1,257,590.04. Following the completion of the sale, the chief executive officer now directly owns 41,435 shares in the company, valued at $2,636,923.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 2.12% of the company’s stock.
Activision Blizzard (NASDAQ:ATVI) last released its quarterly earnings data on Thursday, February 8th. The company reported $0.94 earnings per share for the quarter, beating the consensus estimate of $0.92 by $0.02. The firm had revenue of $2.64 billion during the quarter, compared to the consensus estimate of $2.55 billion. Activision Blizzard had a return on equity of 17.37% and a net margin of 3.89%. The firm’s quarterly revenue was up 7.7% on a year-over-year basis. During the same period in the previous year, the company posted $0.65 earnings per share. research analysts anticipate that Activision Blizzard, Inc. will post 2.48 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 9th. Investors of record on Friday, March 30th will be issued a $0.34 dividend. This is an increase from Activision Blizzard’s previous quarterly dividend of $0.30. This represents a $1.36 annualized dividend and a dividend yield of 2.03%. The ex-dividend date is Wednesday, March 28th. Activision Blizzard’s payout ratio is presently 85.71%.
A number of analysts recently issued reports on the company. Vetr upgraded Activision Blizzard from a “buy” rating to a “strong-buy” rating and set a $75.74 price target for the company in a research report on Monday. Barclays set a $70.00 price target on Activision Blizzard and gave the stock a “hold” rating in a research report on Friday. Credit Suisse Group raised their price target on Activision Blizzard from $81.00 to $83.00 and gave the stock an “outperform” rating in a research report on Friday. Robert W. Baird raised their price target on Activision Blizzard from $75.00 to $80.00 and gave the stock an “outperform” rating in a research report on Friday. Finally, Wedbush set a $81.00 price target on Activision Blizzard and gave the stock a “buy” rating in a research report on Friday. Six investment analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $71.75.
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About Activision Blizzard
Activision Blizzard, Inc is a developer and publisher of interactive entertainment content and services. The Company develops and distributes content and services across various gaming platforms, including video game consoles, personal computers (PC) and mobile devices. Its segments include Activision Publishing, Inc (Activision), Blizzard Entertainment, Inc (Blizzard), King Digital Entertainment (King) and Other.
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