Gerber Kawasaki Wealth & Investment Management lifted its holdings in Activision Blizzard, Inc. (NASDAQ:ATVI) by 11.1% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 152,675 shares of the company’s stock after acquiring an additional 15,296 shares during the period. Activision Blizzard makes up approximately 2.5% of Gerber Kawasaki Wealth & Investment Management’s investment portfolio, making the stock its 12th largest position. Gerber Kawasaki Wealth & Investment Management’s holdings in Activision Blizzard were worth $7,110,000 at the end of the most recent quarter.
A number of other institutional investors have also recently made changes to their positions in ATVI. Steinberg Global Asset Management raised its holdings in Activision Blizzard by 8.8% during the 4th quarter. Steinberg Global Asset Management now owns 37,210 shares of the company’s stock worth $1,733,000 after purchasing an additional 3,008 shares during the last quarter. Financial Enhancement Group LLC bought a new position in Activision Blizzard during the 3rd quarter worth approximately $575,000. Capital International Investors raised its holdings in Activision Blizzard by 233.8% during the 3rd quarter. Capital International Investors now owns 9,072,649 shares of the company’s stock worth $754,754,000 after purchasing an additional 6,354,412 shares during the last quarter. Riverhead Capital Management LLC raised its holdings in Activision Blizzard by 10.2% during the 3rd quarter. Riverhead Capital Management LLC now owns 12,599 shares of the company’s stock worth $1,048,000 after purchasing an additional 1,168 shares during the last quarter. Finally, Iridian Asset Management LLC CT raised its holdings in Activision Blizzard by 40.4% during the 3rd quarter. Iridian Asset Management LLC CT now owns 2,792,379 shares of the company’s stock worth $232,298,000 after purchasing an additional 803,888 shares during the last quarter. Hedge funds and other institutional investors own 88.21% of the company’s stock.
Activision Blizzard stock traded up $1.31 during midday trading on Friday, reaching $44.63. The stock had a trading volume of 20,492,377 shares, compared to its average volume of 13,855,850. Activision Blizzard, Inc. has a 12 month low of $39.85 and a 12 month high of $84.68. The stock has a market capitalization of $33.38 billion, a P/E ratio of 18.67, a P/E/G ratio of 2.04 and a beta of 0.82. 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 announced its quarterly earnings data on Tuesday, February 12th. The company reported $1.29 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.21 by $0.08. Activision Blizzard had a return on equity of 17.55% and a net margin of 24.16%. The business had revenue of $2.84 billion for the quarter, compared to analysts’ expectations of $3.04 billion. During the same period in the previous year, the business posted $0.94 EPS. The firm’s quarterly revenue was up 7.6% compared to the same quarter last year. Equities research analysts forecast that Activision Blizzard, Inc. will post 1.98 EPS for the current fiscal year.
The company also recently disclosed an annual dividend, which will be paid on Thursday, May 9th. Investors of record on Thursday, March 28th will be paid a $0.37 dividend. This is a boost from Activision Blizzard’s previous annual dividend of $0.34. This represents a yield of 0.83%. The ex-dividend date is Wednesday, March 27th. Activision Blizzard’s payout ratio is currently 14.23%.
Several brokerages have recently commented on ATVI. Gabelli began coverage on shares of Activision Blizzard in a research report on Tuesday, December 4th. They set a “buy” rating and a $64.00 price objective for the company. Credit Suisse Group reduced their price objective on shares of Activision Blizzard from $70.00 to $64.00 and set an “outperform” rating for the company in a research report on Wednesday, February 13th. Stephens began coverage on shares of Activision Blizzard in a research report on Thursday, January 10th. They issued an “overweight” rating and a $65.00 price target for the company. Wedbush reissued an “outperform” rating and issued a $56.00 price target (down previously from $64.00) on shares of Activision Blizzard in a research report on Wednesday, February 13th. Finally, Bank of America reissued a “neutral” rating and issued a $54.00 price target (down previously from $58.00) on shares of Activision Blizzard in a research report on Wednesday, February 13th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and nineteen have given a buy rating to the company. Activision Blizzard currently has a consensus rating of “Buy” and an average price target of $61.89.
In related news, Director Robert J. Morgado sold 15,000 shares of the business’s 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 SEC, which is available through this link. Insiders own 1.29% of the company’s stock.
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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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