Gateway Investment Advisers LLC trimmed its holdings in Activision Blizzard, Inc. (NASDAQ:ATVI) by 3.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 452,015 shares of the company’s stock after selling 15,013 shares during the quarter. Gateway Investment Advisers LLC’s holdings in Activision Blizzard were worth $20,580,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also modified their holdings of the company. Bank of New York Mellon Corp increased its holdings in Activision Blizzard by 7.0% during the 3rd quarter. Bank of New York Mellon Corp now owns 8,436,812 shares of the company’s stock worth $701,858,000 after purchasing an additional 552,697 shares during the period. Riverhead Capital Management LLC increased its holdings in Activision Blizzard by 10.2% during the 3rd quarter. Riverhead Capital Management LLC now owns 12,599 shares of the company’s stock worth $1,048,000 after purchasing an additional 1,168 shares during the period. First Republic Investment Management Inc. increased its holdings in Activision Blizzard by 5.7% during the 3rd quarter. First Republic Investment Management Inc. now owns 31,940 shares of the company’s stock worth $2,657,000 after purchasing an additional 1,734 shares during the period. LPL Financial LLC increased its holdings in Activision Blizzard by 58.4% during the 3rd quarter. LPL Financial LLC now owns 132,383 shares of the company’s stock worth $11,013,000 after purchasing an additional 48,834 shares during the period. Finally, Bamco Inc. NY increased its holdings in Activision Blizzard by 32.0% during the 3rd quarter. Bamco Inc. NY now owns 221,738 shares of the company’s stock worth $18,446,000 after purchasing an additional 53,742 shares during the period. Hedge funds and other institutional investors own 89.05% of the company’s stock.
Shares of NASDAQ ATVI opened at $47.86 on Thursday. The company has a current ratio of 2.31, a quick ratio of 2.29 and a debt-to-equity ratio of 0.24. The firm has a market cap of $35.91 billion, a price-to-earnings ratio of 20.03, a P/E/G ratio of 2.35 and a beta of 0.83. Activision Blizzard, Inc. has a 12-month low of $39.85 and a 12-month high of $84.68.
The firm also recently disclosed an annual dividend, which will be paid on Thursday, May 9th. Stockholders of record on Thursday, March 28th will be given a $0.37 dividend. This is a boost from Activision Blizzard’s previous annual dividend of $0.34. The ex-dividend date is Wednesday, March 27th. This represents a dividend yield of 0.83%. Activision Blizzard’s dividend payout ratio (DPR) is presently 15.48%.
Several research analysts have commented on the company. Wedbush restated an “outperform” rating and set a $60.00 price objective on shares of Activision Blizzard in a report on Monday, April 1st. Robert W. Baird reduced their price objective on Activision Blizzard from $75.00 to $69.00 and set an “outperform” rating on the stock in a report on Monday, January 14th. Piper Jaffray Companies reduced their price objective on Activision Blizzard to $55.00 and set an “overweight” rating on the stock in a report on Friday, January 11th. BMO Capital Markets reduced their price objective on Activision Blizzard from $45.00 to $40.00 and set a “market perform” rating on the stock in a report on Friday, February 15th. Finally, Needham & Company LLC restated a “buy” rating and set a $60.00 price objective (down from $90.00) on shares of Activision Blizzard in a report on Friday, December 14th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and nineteen have given a buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $62.04.
In other news, Director Robert J. Morgado sold 15,000 shares of the firm’s stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $42.91, for a total value of $643,650.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.29% of the stock is owned by company insiders.
Activision Blizzard Company 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. The company 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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