Edge Wealth Management LLC increased its stake in Activision Blizzard, Inc. (NASDAQ:ATVI) by 2,163.8% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,626 shares of the company’s stock after buying an additional 2,510 shares during the period. Edge Wealth Management LLC’s holdings in Activision Blizzard were worth $119,000 at the end of the most recent reporting period.
Several other large investors also recently modified their holdings of the stock. Gofen & Glossberg LLC IL increased its stake in shares of Activision Blizzard by 79.0% in the first quarter. Gofen & Glossberg LLC IL now owns 119,707 shares of the company’s stock worth $5,450,000 after buying an additional 52,840 shares during the last quarter. DNB Asset Management AS increased its stake in shares of Activision Blizzard by 98.7% in the first quarter. DNB Asset Management AS now owns 2,472,661 shares of the company’s stock worth $112,580,000 after buying an additional 1,228,348 shares during the last quarter. Pacer Advisors Inc. increased its stake in Activision Blizzard by 23,365.0% during the first quarter. Pacer Advisors Inc. now owns 106,531 shares of the company’s stock valued at $4,851,000 after purchasing an additional 106,077 shares during the last quarter. Cardan Capital Partners LLC increased its stake in Activision Blizzard by 1.3% during the first quarter. Cardan Capital Partners LLC now owns 40,200 shares of the company’s stock valued at $1,830,000 after purchasing an additional 500 shares during the last quarter. Finally, Vigilant Capital Management LLC increased its stake in Activision Blizzard by 49.2% during the first quarter. Vigilant Capital Management LLC now owns 177,014 shares of the company’s stock valued at $8,059,000 after purchasing an additional 58,356 shares during the last quarter. Institutional investors and hedge funds own 89.05% of the company’s stock.
Several analysts have weighed in on ATVI shares. Morgan Stanley boosted their target price on shares of Activision Blizzard from $60.00 to $72.00 and gave the company an “overweight” rating in a research note on Thursday, January 24th. Wedbush set a $64.00 target price on shares of Activision Blizzard and gave the company an “outperform” rating in a research note on Wednesday, January 23rd. Goldman Sachs Group started coverage on shares of Activision Blizzard in a research note on Wednesday, January 30th. They set a “neutral” rating and a $50.00 target price for the company. KeyCorp lowered their target price on shares of Activision Blizzard from $80.00 to $64.00 and set an “overweight” rating for the company in a research note on Friday, January 11th. Finally, ValuEngine upgraded shares of Activision Blizzard from a “sell” rating to a “hold” rating in a research note on Friday, December 21st. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and nineteen have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $62.04.
Shares of ATVI traded down $0.69 during midday trading on Thursday, hitting $47.17. 5,182,414 shares of the stock traded hands, compared to its average volume of 12,484,636. The company has a market cap of $36.74 billion, a price-to-earnings ratio of 19.74, a price-to-earnings-growth ratio of 2.35 and a beta of 0.83. Activision Blizzard, Inc. has a 1-year low of $39.85 and a 1-year high of $84.68. The company has a debt-to-equity ratio of 0.24, a quick ratio of 2.29 and a current ratio of 2.31.
Activision Blizzard (NASDAQ:ATVI) last posted its quarterly earnings data on Tuesday, February 12th. The company reported $1.29 earnings per share for the quarter, topping the consensus estimate of $1.21 by $0.08. The business had revenue of $2.84 billion during 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 quarterly revenue was up 7.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.94 earnings per share. Analysts predict that Activision Blizzard, Inc. will post 1.98 EPS for the current year.
The business also recently disclosed an annual dividend, which will be paid on Thursday, May 9th. Investors of record on Thursday, March 28th will be issued a $0.37 dividend. The ex-dividend date of this dividend is Wednesday, March 27th. This represents a yield of 0.83%. This is an increase from Activision Blizzard’s previous annual dividend of $0.34. Activision Blizzard’s dividend payout ratio is presently 15.48%.
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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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