Essex Investment Management Co. LLC acquired a new stake in shares of Activision Blizzard, Inc. (NASDAQ:ATVI) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 5,726 shares of the company’s stock, valued at approximately $267,000.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Capital Investment Advisory Services LLC acquired a new position in shares of Activision Blizzard in the 4th quarter worth approximately $37,000. Ipswich Investment Management Co. Inc. acquired a new position in shares of Activision Blizzard in the 4th quarter worth approximately $45,000. Mondrian Capital Management LLC acquired a new position in shares of Activision Blizzard in the 4th quarter worth approximately $47,000. Fusion Family Wealth LLC boosted its holdings in shares of Activision Blizzard by 111.5% in the 4th quarter. Fusion Family Wealth LLC now owns 1,375 shares of the company’s stock worth $64,000 after acquiring an additional 725 shares in the last quarter. Finally, Dubuque Bank & Trust Co. acquired a new position in shares of Activision Blizzard in the 4th quarter worth approximately $68,000. 88.05% of the stock is currently owned by institutional investors.
Several brokerages have recently commented on ATVI. Gabelli began coverage on Activision Blizzard in a report on Tuesday, December 4th. They issued a “buy” rating and a $64.00 target price on the stock. Credit Suisse Group reduced their target price on Activision Blizzard from $70.00 to $64.00 and set an “outperform” rating on the stock in a report on Wednesday, February 13th. MKM Partners reduced their target price on Activision Blizzard to $71.00 and set a “neutral” rating on the stock in a report on Tuesday, October 30th. Stephens began coverage on Activision Blizzard in a report on Thursday, January 10th. They issued an “overweight” rating and a $65.00 target price on the stock. Finally, Wedbush reissued an “outperform” rating and issued a $56.00 target price (down from $64.00) on shares of Activision Blizzard in a report on Wednesday, February 13th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating, twenty have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Activision Blizzard presently has an average rating of “Buy” and a consensus target price of $63.46.
Activision Blizzard (NASDAQ:ATVI) last issued its earnings results on Tuesday, February 12th. The company reported $1.29 EPS for the quarter, beating the consensus estimate of $1.21 by $0.08. The company had revenue of $2.84 billion during the quarter, compared to analysts’ expectations of $3.04 billion. Activision Blizzard had a net margin of 24.16% and a return on equity of 17.55%. The business’s revenue for the quarter was up 7.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.94 EPS. On average, analysts expect that Activision Blizzard, Inc. will post 2.01 earnings per share for the current year.
The firm also recently announced an annual dividend, which will be paid on Thursday, May 9th. Shareholders of record on Thursday, March 28th will be given a dividend of $0.37 per share. This is a boost from Activision Blizzard’s previous annual dividend of $0.34. The ex-dividend date of this dividend is Wednesday, March 27th. This represents a dividend yield of 0.83%. Activision Blizzard’s payout ratio is presently 14.23%.
Activision Blizzard Profile
Activision Blizzard, Inc develops and distributes content and services on video game consoles, personal computers (PC), and mobile devices. The company operates through three segments: Activision Publishing, Inc; Blizzard Entertainment, Inc; and King Digital Entertainment. The company develops, publishes, and sells interactive software products and entertainment content for the console and PC platforms through retail and digital channels, including subscription, full-game, and in-game sales, as well as by licensing software to third-party or related-party companies; and offers downloadable content.
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