Bridger Management LLC bought a new stake in shares of Activision Blizzard, Inc. (NASDAQ:ATVI – Free Report) in the first quarter, according to its most recent Form 13F filing with the SEC. The fund bought 158,912 shares of the company’s stock, valued at approximately $13,601,000. Activision Blizzard accounts for 5.1% of Bridger Management LLC’s investment portfolio, making the stock its 9th largest position.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Migdal Insurance & Financial Holdings Ltd. increased its position in Activision Blizzard by 186.4% in the 1st quarter. Migdal Insurance & Financial Holdings Ltd. now owns 338 shares of the company’s stock valued at $29,000 after acquiring an additional 220 shares during the period. Pin Oak Investment Advisors Inc. acquired a new position in Activision Blizzard during the 1st quarter valued at about $35,000. Ameritas Advisory Services LLC bought a new stake in shares of Activision Blizzard during the 1st quarter worth about $38,000. Fairfield Bush & CO. acquired a new stake in shares of Activision Blizzard in the 1st quarter worth approximately $41,000. Finally, ICA Group Wealth Management LLC acquired a new position in shares of Activision Blizzard during the fourth quarter valued at approximately $40,000. Institutional investors own 81.93% of the company’s stock.
Wall Street Analysts Forecast Growth
Several brokerages have recently issued reports on ATVI. Jefferies Financial Group cut Activision Blizzard from a “buy” rating to a “hold” rating and set a $95.00 price target on the stock. in a research report on Thursday, July 20th. StockNews.com initiated coverage on shares of Activision Blizzard in a research report on Thursday, August 17th. They issued a “buy” rating on the stock. Citigroup cut shares of Activision Blizzard from a “buy” rating to a “neutral” rating and lifted their price objective for the stock from $90.00 to $95.00 in a research note on Thursday, July 20th. Atlantic Securities lowered shares of Activision Blizzard from an “overweight” rating to a “neutral” rating and set a $95.00 target price for the company. in a research note on Tuesday, July 18th. Finally, Benchmark cut shares of Activision Blizzard from a “buy” rating to a “hold” rating and set a $90.00 target price for the company. in a report on Wednesday, July 12th. Sixteen research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $94.37.
Activision Blizzard Trading Up 0.1 %
NASDAQ:ATVI opened at $92.18 on Tuesday. The stock’s 50-day moving average is $90.78 and its two-hundred day moving average is $84.25. 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 cap of $72.53 billion, a PE ratio of 33.77, a price-to-earnings-growth ratio of 2.55 and a beta of 0.44. Activision Blizzard, Inc. has a fifty-two week low of $70.94 and a fifty-two week high of $93.67.
Activision Blizzard (NASDAQ:ATVI – Get Free Report) last released its quarterly earnings data on Wednesday, July 19th. The company reported $0.95 earnings per share for the quarter, beating the consensus estimate of $0.78 by $0.17. The firm had revenue of $2.46 billion for the quarter, compared to analyst estimates of $2.44 billion. Activision Blizzard had a net margin of 24.87% and a return on equity of 14.87%. As a group, equities research analysts forecast that Activision Blizzard, Inc. will post 3.74 earnings per share for the current fiscal year.
Activision Blizzard Increases Dividend
The company also recently declared an annual dividend, which was paid on Thursday, August 17th. Stockholders of record on Wednesday, August 2nd were issued a dividend of $0.99 per share. This represents a dividend yield of 1.07%. This is a positive change from Activision Blizzard’s previous annual dividend of $0.47. The ex-dividend date of this dividend was Tuesday, August 1st. Activision Blizzard’s payout ratio is currently 36.26%.
Activision Blizzard Company 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.
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