German American Bancorp Inc. grew its position in Activision Blizzard, Inc. (NASDAQ:ATVI) by 2.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 35,539 shares of the company’s stock after acquiring an additional 984 shares during the quarter. German American Bancorp Inc.’s holdings in Activision Blizzard were worth $1,618,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Steinberg Global Asset Management raised its stake in shares of Activision Blizzard by 8.8% in the fourth quarter. Steinberg Global Asset Management now owns 37,210 shares of the company’s stock valued at $1,733,000 after acquiring an additional 3,008 shares during the period. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp purchased a new stake in shares of Activision Blizzard in the fourth quarter valued at $4,634,000. Probity Advisors Inc. purchased a new stake in shares of Activision Blizzard in the fourth quarter valued at $362,000. Maplelane Capital LLC purchased a new stake in shares of Activision Blizzard in the fourth quarter valued at $11,550,000. Finally, Edge Wealth Management LLC raised its stake in shares of Activision Blizzard by 2,163.8% in the first quarter. Edge Wealth Management LLC now owns 2,626 shares of the company’s stock valued at $119,000 after acquiring an additional 2,510 shares during the period. 88.73% of the stock is currently owned by institutional investors and hedge funds.
Shares of Activision Blizzard stock opened at $48.16 on Tuesday. The company has a current ratio of 2.63, a quick ratio of 2.61 and a debt-to-equity ratio of 0.23. Activision Blizzard, Inc. has a 1 year low of $39.85 and a 1 year high of $84.68. The stock has a market cap of $36.12 billion, a price-to-earnings ratio of 20.15, a price-to-earnings-growth ratio of 2.38 and a beta of 0.83.
Activision Blizzard (NASDAQ:ATVI) last issued its earnings results on Thursday, May 2nd. The company reported $0.31 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.18 by $0.13. Activision Blizzard had a net margin of 23.90% and a return on equity of 16.19%. The company had revenue of $1.26 billion for the quarter, compared to analysts’ expectations of $1.24 billion. During the same period in the prior year, the business earned $0.38 EPS. The firm’s quarterly revenue was down 8.7% on a year-over-year basis. As a group, equities research analysts forecast that Activision Blizzard, Inc. will post 1.96 earnings per share for the current fiscal year.
The firm also recently announced an annual dividend, which will be paid on Thursday, May 9th. Shareholders of record on Thursday, March 28th will be issued a dividend of $0.37 per share. This represents a yield of 0.83%. This is a boost from Activision Blizzard’s previous annual dividend of $0.34. The ex-dividend date is Wednesday, March 27th. Activision Blizzard’s dividend payout ratio is presently 15.48%.
In other Activision Blizzard news, Director Robert J. Morgado sold 15,000 shares of the stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $42.91, for a total transaction of $643,650.00. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 1.29% of the stock is owned by corporate insiders.
Several brokerages have recently weighed in on ATVI. BidaskClub raised shares of Activision Blizzard from a “hold” rating to a “buy” rating in a research note on Saturday. Zacks Investment Research downgraded shares of Activision Blizzard from a “hold” rating to a “sell” rating in a research note on Friday. Wedbush reaffirmed an “outperform” rating and issued a $56.00 price target on shares of Activision Blizzard in a research note on Friday. ValuEngine raised shares of Activision Blizzard from a “sell” rating to a “hold” rating in a research note on Wednesday, May 1st. Finally, Piper Jaffray Companies reaffirmed an “overweight” rating on shares of Activision Blizzard in a research note on Monday, April 22nd. One research analyst has rated the stock with a sell rating, ten have given a hold rating and twenty have assigned a buy rating to the company. Activision Blizzard presently has a consensus rating of “Buy” and a consensus price target of $61.89.
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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. It 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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