Equitable Trust Co. acquired a new stake in shares of Activision Blizzard, Inc. (NASDAQ:ATVI) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 5,790 shares of the company’s stock, valued at approximately $270,000.
Several other institutional investors also recently added to or reduced their stakes in the company. Bank of New York Mellon Corp boosted its stake in shares of Activision Blizzard by 7.0% during the third quarter. Bank of New York Mellon Corp now owns 8,436,812 shares of the company’s stock valued at $701,858,000 after purchasing an additional 552,697 shares during the period. PNC Financial Services Group Inc. lifted its stake in Activision Blizzard by 7.0% in the third quarter. PNC Financial Services Group Inc. now owns 101,153 shares of the company’s stock worth $8,415,000 after acquiring an additional 6,596 shares during the period. Virtu Financial LLC bought a new position in Activision Blizzard in the third quarter worth about $734,000. Franklin Resources Inc. raised its holdings in Activision Blizzard by 19.9% in the third quarter. Franklin Resources Inc. now owns 841,971 shares of the company’s stock worth $70,044,000 after purchasing an additional 139,806 shares in the last quarter. Finally, Advisory Research Inc. bought a new position in Activision Blizzard in the third quarter worth about $200,000. Hedge funds and other institutional investors own 89.05% of the company’s stock.
In other news, Director Robert J. Morgado sold 15,000 shares of Activision Blizzard stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $42.91, for a total value of $643,650.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 1.29% of the company’s stock.
Activision Blizzard (NASDAQ:ATVI) last issued its quarterly earnings data on Tuesday, February 12th. The company reported $1.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.21 by $0.08. Activision Blizzard had a return on equity of 17.55% and a net margin of 24.16%. The firm had revenue of $2.84 billion during the quarter, compared to the consensus estimate of $3.04 billion. During the same period last year, the company earned $0.94 EPS. The company’s quarterly revenue was up 7.6% on a year-over-year basis. As a group, equities analysts anticipate that Activision Blizzard, Inc. will post 1.98 earnings per share for the current fiscal year.
The business also recently disclosed an annual dividend, which will be paid on Thursday, May 9th. Stockholders of record on Thursday, March 28th will be paid a $0.37 dividend. This represents a dividend yield of 0.83%. The ex-dividend date of this dividend is Wednesday, March 27th. This is a boost from Activision Blizzard’s previous annual dividend of $0.34. Activision Blizzard’s dividend payout ratio (DPR) is presently 15.48%.
Several research firms have recently issued reports on ATVI. Piper Jaffray Companies cut their price objective on shares of Activision Blizzard to $55.00 and set an “overweight” rating on the stock in a report on Friday, January 11th. KeyCorp cut their price objective on shares of Activision Blizzard from $80.00 to $64.00 and set an “overweight” rating on the stock in a report on Friday, January 11th. Benchmark cut their price objective on shares of Activision Blizzard from $93.00 to $87.00 and set a “buy” rating on the stock in a report on Friday, January 11th. Stephens began coverage on shares of Activision Blizzard in a report on Thursday, January 10th. They set an “overweight” rating and a $65.00 price objective on the stock. Finally, BidaskClub upgraded shares of Activision Blizzard from a “sell” rating to a “hold” rating in a report on Thursday, January 10th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and nineteen have issued a buy rating to the company. The company has an average rating of “Buy” and an average price target of $62.04.
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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