Sei Investments Co. reduced its stake in shares of Activision Blizzard, Inc. (NASDAQ:ATVI) by 4.0% during the fourth quarter, Holdings Channel.com reports. The firm owned 1,425,527 shares of the company’s stock after selling 58,791 shares during the period. Sei Investments Co.’s holdings in Activision Blizzard were worth $84,733,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds and other institutional investors also recently modified their holdings of the stock. GWM Advisors LLC raised its position in Activision Blizzard by 4.2% in the fourth quarter. GWM Advisors LLC now owns 4,415 shares of the company’s stock worth $262,000 after acquiring an additional 179 shares in the last quarter. Ascent Wealth Partners LLC raised its position in Activision Blizzard by 1.5% in the third quarter. Ascent Wealth Partners LLC now owns 13,030 shares of the company’s stock worth $690,000 after acquiring an additional 189 shares in the last quarter. Daiwa Securities Group Inc. raised its position in Activision Blizzard by 0.5% in the fourth quarter. Daiwa Securities Group Inc. now owns 43,107 shares of the company’s stock worth $2,562,000 after acquiring an additional 217 shares in the last quarter. Parkside Financial Bank & Trust raised its position in Activision Blizzard by 23.4% in the fourth quarter. Parkside Financial Bank & Trust now owns 1,253 shares of the company’s stock worth $74,000 after acquiring an additional 238 shares in the last quarter. Finally, Global Retirement Partners LLC raised its position in Activision Blizzard by 77.2% in the fourth quarter. Global Retirement Partners LLC now owns 576 shares of the company’s stock worth $34,000 after acquiring an additional 251 shares in the last quarter. Institutional investors and hedge funds own 88.65% of the company’s stock.
ATVI traded up $0.93 during trading on Friday, reaching $63.52. The company had a trading volume of 4,242,389 shares, compared to its average volume of 6,123,551. The firm’s 50-day simple moving average is $59.88 and its 200 day simple moving average is $54.97. The company has a market cap of $47.35 billion, a price-to-earnings ratio of 32.57, a PEG ratio of 2.30 and a beta of 0.87. Activision Blizzard, Inc. has a 12-month low of $40.89 and a 12-month high of $63.54. The company has a debt-to-equity ratio of 0.21, a quick ratio of 2.49 and a current ratio of 2.50.
Activision Blizzard (NASDAQ:ATVI) last issued its quarterly earnings results on Thursday, February 6th. The company reported $1.23 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.19 by $0.04. The firm had revenue of $2.71 billion for the quarter, compared to analysts’ expectations of $2.68 billion. Activision Blizzard had a return on equity of 13.16% and a net margin of 23.18%. Activision Blizzard’s revenue was down 4.5% on a year-over-year basis. During the same quarter last year, the business posted $0.84 EPS. On average, sell-side analysts expect that Activision Blizzard, Inc. will post 2.21 EPS for the current year.
The firm also recently announced an annual dividend, which will be paid on Wednesday, May 6th. Shareholders of record on Wednesday, April 15th will be paid a dividend of $0.41 per share. This represents a yield of 0.67%. The ex-dividend date of this dividend is Tuesday, April 14th. This is a boost from Activision Blizzard’s previous annual dividend of $0.37. Activision Blizzard’s payout ratio is 17.79%.
Several brokerages have commented on ATVI. Benchmark reiterated a “buy” rating and issued a $72.00 price target on shares of Activision Blizzard in a research report on Friday, February 7th. Macquarie set a $58.00 price target on shares of Activision Blizzard and gave the stock a “buy” rating in a research report on Friday, October 18th. SunTrust Banks reiterated a “buy” rating and issued a $68.00 price target (up from $61.00) on shares of Activision Blizzard in a research report on Tuesday. BMO Capital Markets boosted their price target on shares of Activision Blizzard from $65.00 to $70.00 and gave the stock an “outperform” rating in a research report on Monday. Finally, Wedbush boosted their price target on shares of Activision Blizzard from $69.00 to $76.00 and gave the stock an “outperform” rating in a research report on Friday, February 7th. One analyst has rated the stock with a sell rating, six have issued a hold rating, twenty-one have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $64.40.
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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