Community Trust & Investment Co. decreased its holdings in shares of Activision Blizzard, Inc. (NASDAQ:ATVI – Free Report) by 1.5% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 285,294 shares of the company’s stock after selling 4,220 shares during the quarter. Activision Blizzard comprises about 1.9% of Community Trust & Investment Co.’s investment portfolio, making the stock its 10th biggest position. Community Trust & Investment Co.’s holdings in Activision Blizzard were worth $24,050,000 as of its most recent SEC filing.
A number of other hedge funds have also recently added to or reduced their stakes in ATVI. Quilter Plc acquired a new position in shares of Activision Blizzard in the 1st quarter valued at about $203,565,000. Migdal Insurance & Financial Holdings Ltd. grew its stake in Activision Blizzard by 186.4% during the first quarter. Migdal Insurance & Financial Holdings Ltd. now owns 338 shares of the company’s stock worth $29,000 after buying an additional 220 shares during the period. Front Row Advisors LLC increased its position in shares of Activision Blizzard by 140.4% in the first quarter. Front Row Advisors LLC now owns 351 shares of the company’s stock worth $30,000 after acquiring an additional 205 shares in the last quarter. Pin Oak Investment Advisors Inc. purchased a new position in shares of Activision Blizzard in the 1st quarter valued at $35,000. Finally, Ameritas Advisory Services LLC acquired a new stake in Activision Blizzard in the 1st quarter valued at $38,000. 81.93% of the stock is owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
Several brokerages recently commented on ATVI. Roth Mkm downgraded Activision Blizzard from a “buy” rating to a “neutral” rating and raised their target price for the company from $88.00 to $95.00 in a report on Friday, July 21st. Deutsche Bank Aktiengesellschaft raised their price target on shares of Activision Blizzard from $89.00 to $95.00 in a research report on Wednesday, July 12th. Truist Financial lowered Activision Blizzard from a “buy” rating to a “hold” rating and lifted their target price for the stock from $84.00 to $95.00 in a research report on Wednesday, July 12th. Robert W. Baird downgraded shares of Activision Blizzard from an “outperform” rating to a “neutral” rating and set a $90.00 price objective for the company. in a report on Tuesday, July 18th. Finally, StockNews.com began coverage on shares of Activision Blizzard in a report on Thursday, August 17th. They set a “buy” rating on the stock. Sixteen equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $94.37.
Activision Blizzard Stock Performance
NASDAQ ATVI traded up $0.14 during trading on Tuesday, hitting $92.05. The company’s stock had a trading volume of 899,225 shares, compared to its average volume of 8,299,865. The firm has a 50 day moving average price of $91.53 and a 200 day moving average price of $84.70. The firm has a market cap of $72.42 billion, a P/E ratio of 33.67, a price-to-earnings-growth ratio of 2.54 and a beta of 0.44. The company has a quick ratio of 4.66, a current ratio of 4.66 and a debt-to-equity ratio of 0.17. Activision Blizzard, Inc. has a 52 week low of $70.94 and a 52 week high of $93.67.
Activision Blizzard (NASDAQ:ATVI – Get Free Report) last released its quarterly earnings data on Wednesday, July 19th. The company reported $0.95 EPS for the quarter, topping analysts’ consensus estimates of $0.78 by $0.17. The company had revenue of $2.46 billion during the quarter, compared to the consensus estimate of $2.44 billion. Activision Blizzard had a net margin of 24.87% and a return on equity of 14.87%. Equities research analysts forecast that Activision Blizzard, Inc. will post 3.74 earnings per share for the current fiscal year.
Activision Blizzard Increases Dividend
The company also recently announced an annual dividend, which was paid on Thursday, August 17th. Stockholders of record on Wednesday, August 2nd were paid a $0.99 dividend. The ex-dividend date was Tuesday, August 1st. This represents a dividend yield of 1.07%. This is a boost from Activision Blizzard’s previous annual dividend of $0.47. Activision Blizzard’s payout ratio is 36.26%.
Activision Blizzard Profile
Activision Blizzard, Inc, together with its subsidiaries, develops and publishes interactive entertainment content and services in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company operates through three segments: Activision, Blizzard, and King. It develops and distributes content and services on video game consoles, personal computers, and mobile devices, including subscription, full-game, and in-game sales, as well as by licensing software to third-party or related-party companies that distribute Activision and Blizzard products.
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