Norges Bank acquired a new stake in Activision Blizzard, Inc. (NASDAQ:ATVI) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 7,471,097 shares of the company’s stock, valued at approximately $347,929,000. Norges Bank owned approximately 0.98% of Activision Blizzard at the end of the most recent quarter.
Other institutional investors have also added to or reduced their stakes in the company. Actinver Wealth Management Inc. purchased a new position in shares of Activision Blizzard in the fourth quarter worth about $328,000. Kentucky Retirement Systems bought a new stake in Activision Blizzard during the fourth quarter valued at approximately $1,546,000. Kentucky Retirement Systems Insurance Trust Fund bought a new stake in Activision Blizzard during the fourth quarter valued at approximately $703,000. Equitable Trust Co. bought a new stake in Activision Blizzard during the fourth quarter valued at approximately $270,000. Finally, Nordea Investment Management AB lifted its position in Activision Blizzard by 1,717.3% during the fourth quarter. Nordea Investment Management AB now owns 1,222,360 shares of the company’s stock valued at $56,924,000 after purchasing an additional 1,155,099 shares during the last quarter. 89.05% of the stock is currently owned by hedge funds and other institutional investors.
Several brokerages have issued reports on ATVI. Wedbush reiterated an “outperform” rating and set a $60.00 target price on shares of Activision Blizzard in a research report on Monday, April 1st. Robert W. Baird lowered their price objective on shares of Activision Blizzard from $75.00 to $69.00 and set an “outperform” rating for the company in a report on Monday, January 14th. Piper Jaffray Companies lowered their price objective on shares of Activision Blizzard to $55.00 and set an “overweight” rating for the company in a report on Friday, January 11th. BMO Capital Markets lowered their price objective on shares of Activision Blizzard from $45.00 to $40.00 and set a “market perform” rating for the company in a report on Friday, February 15th. Finally, Stifel Nicolaus lowered their price target on shares of Activision Blizzard from $67.00 to $57.00 and set a “buy” rating for the company in a report on Monday, January 28th. One analyst has rated the stock with a sell rating, eleven have given a hold rating and nineteen have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $62.04.
Activision Blizzard (NASDAQ:ATVI) last released its earnings results on Tuesday, February 12th. The company reported $1.29 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.21 by $0.08. The firm had revenue of $2.84 billion for the quarter, compared to the consensus estimate of $3.04 billion. Activision Blizzard had a net margin of 24.16% and a return on equity of 17.55%. The company’s revenue was up 7.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.94 EPS. Analysts predict that Activision Blizzard, Inc. will post 1.98 EPS for the current fiscal year.
The firm also recently announced an annual dividend, which will be paid on Thursday, May 9th. Stockholders of record on Thursday, March 28th will be given a $0.37 dividend. The ex-dividend date is Wednesday, March 27th. This is an increase from Activision Blizzard’s previous annual dividend of $0.34. This represents a dividend yield of 0.83%. Activision Blizzard’s dividend payout ratio is currently 15.48%.
In other news, Director Robert J. Morgado sold 15,000 shares of the company’s stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $42.91, for a total value of $643,650.00. The transaction was disclosed in a filing with the SEC, which is available through this link. 1.29% of the stock is owned by corporate insiders.
Activision Blizzard Company 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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