MainStreet Investment Advisors LLC lowered its holdings in Activision Blizzard, Inc. (NASDAQ:ATVI) by 6.8% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 38,369 shares of the company’s stock after selling 2,802 shares during the quarter. MainStreet Investment Advisors LLC’s holdings in Activision Blizzard were worth $3,562,000 as of its most recent filing with the SEC.
Other institutional investors have also added to or reduced their stakes in the company. NBW Capital LLC increased its position in shares of Activision Blizzard by 4.3% in the fourth quarter. NBW Capital LLC now owns 38,767 shares of the company’s stock valued at $3,600,000 after buying an additional 1,595 shares in the last quarter. SeaCrest Wealth Management LLC purchased a new position in shares of Activision Blizzard in the fourth quarter valued at $259,000. Marietta Wealth Management LLC purchased a new position in shares of Activision Blizzard in the fourth quarter valued at $1,352,000. Lord Abbett & CO. LLC increased its position in shares of Activision Blizzard by 15.1% in the fourth quarter. Lord Abbett & CO. LLC now owns 1,103,748 shares of the company’s stock valued at $102,483,000 after buying an additional 145,037 shares in the last quarter. Finally, Blair William & Co. IL increased its position in shares of Activision Blizzard by 9.8% in the fourth quarter. Blair William & Co. IL now owns 1,005,855 shares of the company’s stock valued at $93,394,000 after buying an additional 89,800 shares in the last quarter. 85.77% of the stock is owned by institutional investors.
A number of brokerages have recently weighed in on ATVI. JPMorgan Chase & Co. raised their price target on Activision Blizzard from $101.00 to $115.00 and gave the company an “overweight” rating in a research report on Friday, February 5th. Truist raised their price target on Activision Blizzard from $90.00 to $100.00 in a research report on Tuesday, February 2nd. Citigroup lifted their price objective on Activision Blizzard from $83.00 to $110.00 in a research report on Friday. Deutsche Bank Aktiengesellschaft lifted their price objective on Activision Blizzard from $100.00 to $115.00 and gave the stock a “buy” rating in a research report on Thursday, February 18th. Finally, KeyCorp lifted their price objective on Activision Blizzard from $102.00 to $120.00 and gave the stock an “overweight” rating in a research report on Friday, February 5th. Four equities research analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $101.93.
Activision Blizzard (NASDAQ:ATVI) last released its quarterly earnings results on Wednesday, February 3rd. The company reported $1.21 EPS for the quarter, topping the consensus estimate of $1.18 by $0.03. Activision Blizzard had a return on equity of 19.07% and a net margin of 28.90%. During the same quarter last year, the firm posted $1.23 EPS. On average, analysts expect that Activision Blizzard, Inc. will post 3.22 EPS for the current fiscal year.
The firm also recently announced an annual dividend, which will be paid on Thursday, May 6th. Shareholders of record on Thursday, April 15th will be given a $0.47 dividend. This represents a dividend yield of 0.46%. This is a positive change from Activision Blizzard’s previous annual dividend of $0.41. The ex-dividend date of this dividend is Wednesday, April 14th. Activision Blizzard’s dividend payout ratio is presently 19.71%.
In other news, Director Casey Wasserman sold 10,000 shares of the business’s stock in a transaction that occurred on Friday, December 4th. The stock was sold at an average price of $80.75, for a total value of $807,500.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.13% of the company’s stock.
About Activision Blizzard
Activision Blizzard, Inc, together with its subsidiaries, develops and distributes content and services on video game consoles, personal computers (PC), and mobile devices in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company operates through three segments: Activision Publishing, Inc; Blizzard Entertainment, Inc; and King Digital Entertainment.
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