Intact Investment Management Inc. Purchases New Position in Activision Blizzard, Inc. (NASDAQ:ATVI)

Intact Investment Management Inc. purchased a new stake in shares of Activision Blizzard, Inc. (NASDAQ:ATVI) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 6,200 shares of the company’s stock, valued at approximately $531,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in ATVI. Norges Bank bought a new stake in shares of Activision Blizzard in the 4th quarter valued at approximately $742,922,000. Boston Partners lifted its stake in shares of Activision Blizzard by 219.4% in the 1st quarter. Boston Partners now owns 7,575,149 shares of the company’s stock valued at $645,167,000 after purchasing an additional 5,203,383 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its stake in shares of Activision Blizzard by 116.3% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 7,084,876 shares of the company’s stock valued at $542,347,000 after purchasing an additional 3,809,814 shares during the last quarter. Renaissance Technologies LLC bought a new stake in shares of Activision Blizzard in the 1st quarter valued at approximately $281,635,000. Finally, Laurion Capital Management LP lifted its stake in shares of Activision Blizzard by 52,127.4% in the 4th quarter. Laurion Capital Management LP now owns 2,573,244 shares of the company’s stock valued at $196,982,000 after purchasing an additional 2,568,317 shares during the last quarter. 81.93% of the stock is owned by institutional investors.

Activision Blizzard Stock Up 0.1 %

Activision Blizzard stock opened at $92.12 on Monday. The company has a debt-to-equity ratio of 0.17, a current ratio of 4.66 and a quick ratio of 4.66. The stock has a market capitalization of $72.48 billion, a price-to-earnings ratio of 33.74, a PEG ratio of 2.55 and a beta of 0.44. Activision Blizzard, Inc. has a 1-year low of $70.94 and a 1-year high of $93.67. The business has a fifty day moving average price of $90.61 and a 200-day moving average price of $84.15.

Activision Blizzard (NASDAQ:ATVI) last issued its quarterly earnings results 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 analysts’ expectations of $2.44 billion. Activision Blizzard had a return on equity of 14.87% and a net margin of 24.87%. Equities research analysts forecast that Activision Blizzard, Inc. will post 3.74 EPS for the current fiscal year.

Activision Blizzard Increases Dividend

The business 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. This is an increase from Activision Blizzard’s previous annual dividend of $0.47. The ex-dividend date was Tuesday, August 1st. This represents a dividend yield of 1.07%. Activision Blizzard’s dividend payout ratio is presently 36.26%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. UBS Group downgraded Activision Blizzard from a “buy” rating to a “neutral” rating and increased their price target for the stock from $95.00 to $96.00 in a report on Thursday, July 20th. BNP Paribas downgraded Activision Blizzard from an “outperform” rating to a “neutral” rating and set a $95.00 price target on the stock. in a report on Thursday, July 13th. Moffett Nathanson downgraded Activision Blizzard from an “outperform” rating to a “market perform” rating and increased their price target for the stock from $91.00 to $95.00 in a report on Wednesday, July 12th. Robert W. Baird downgraded Activision Blizzard from an “outperform” rating to a “neutral” rating and set a $90.00 price target on the stock. in a report on Tuesday, July 18th. Finally, Citigroup downgraded Activision Blizzard from a “buy” rating to a “neutral” rating and increased their price target for the stock from $90.00 to $95.00 in a report on Thursday, July 20th. Sixteen equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $94.37.

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.