Activision Blizzard, Inc. (NASDAQ:ATVI – Get Rating) – Investment analysts at KeyCorp cut their Q3 2022 EPS estimates for Activision Blizzard in a research report issued on Monday, April 25th. KeyCorp analyst T. Parker now forecasts that the company will post earnings of $0.50 per share for the quarter, down from their prior estimate of $0.60. KeyCorp has a “Overweight” rating and a $95.00 price objective on the stock. KeyCorp also issued estimates for Activision Blizzard’s Q3 2023 earnings at $0.60 EPS.
Other equities analysts have also recently issued research reports about the stock. Jefferies Financial Group restated a “buy” rating and set a $95.00 target price on shares of Activision Blizzard in a research note on Wednesday. Edward Jones cut shares of Activision Blizzard from a “buy” rating to a “hold” rating in a research note on Thursday, January 13th. Atlantic Securities cut shares of Activision Blizzard from an “overweight” rating to a “neutral” rating and lowered their target price for the company from $100.00 to $95.00 in a research note on Wednesday, January 19th. Zacks Investment Research raised shares of Activision Blizzard from a “strong sell” rating to a “hold” rating and set a $84.00 price target for the company in a research report on Tuesday, March 15th. Finally, MKM Partners raised shares of Activision Blizzard from a “sell” rating to a “neutral” rating and upped their price target for the company from $54.00 to $95.00 in a research report on Tuesday, January 18th. Nineteen analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $95.86.
Activision Blizzard (NASDAQ:ATVI – Get Rating) last announced its quarterly earnings results on Monday, April 25th. The company reported $0.64 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.71 by ($0.07). The firm had revenue of $1.77 billion during the quarter, compared to the consensus estimate of $1.80 billion. Activision Blizzard had a return on equity of 15.15% and a net margin of 30.65%. The business’s revenue for the quarter was down 22.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.69 EPS.
The business also recently announced a quarterly dividend, which will be paid on Friday, May 6th. Shareholders of record on Friday, April 15th will be paid a $0.47 dividend. This represents a $1.88 annualized dividend and a yield of 2.47%. The ex-dividend date of this dividend is Wednesday, April 13th. This is a positive change from Activision Blizzard’s previous quarterly dividend of $0.34. Activision Blizzard’s payout ratio is 13.62%.
In related news, COO Daniel Alegre sold 14,563 shares of Activision Blizzard stock in a transaction that occurred on Monday, March 14th. The stock was sold at an average price of $79.66, for a total transaction of $1,160,088.58. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Jesse Yang sold 2,072 shares of the business’s stock in a transaction that occurred on Tuesday, March 15th. The shares were sold at an average price of $79.54, for a total value of $164,806.88. The disclosure for this sale can be found here. 0.77% of the stock is owned by insiders.
A number of institutional investors and hedge funds have recently bought and sold shares of ATVI. Penn Davis Mcfarland Inc. increased its holdings in shares of Activision Blizzard by 1.4% in the 1st quarter. Penn Davis Mcfarland Inc. now owns 318,698 shares of the company’s stock valued at $25,531,000 after acquiring an additional 4,313 shares during the last quarter. Chevy Chase Trust Holdings Inc. boosted its position in shares of Activision Blizzard by 0.3% in the 1st quarter. Chevy Chase Trust Holdings Inc. now owns 468,420 shares of the company’s stock valued at $37,524,000 after purchasing an additional 1,304 shares during the period. Fortem Financial Group LLC acquired a new stake in shares of Activision Blizzard in the 1st quarter valued at about $2,501,000. Perennial Advisors LLC boosted its position in shares of Activision Blizzard by 0.4% in the 1st quarter. Perennial Advisors LLC now owns 123,667 shares of the company’s stock valued at $9,907,000 after purchasing an additional 488 shares during the period. Finally, Comerica Bank boosted its position in shares of Activision Blizzard by 1.5% in the 1st quarter. Comerica Bank now owns 105,461 shares of the company’s stock valued at $8,322,000 after purchasing an additional 1,550 shares during the period. 84.01% of the stock is currently owned by hedge funds and other institutional investors.
Activision Blizzard Company Profile (Get Rating)
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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