Fulton Bank N.A. lowered its stake in Activision Blizzard, Inc. (NASDAQ:ATVI) by 6.6% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,486 shares of the company’s stock after selling 817 shares during the period. Fulton Bank N.A.’s holdings in Activision Blizzard were worth $1,068,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently bought and sold shares of ATVI. Advisory Alpha LLC bought a new position in shares of Activision Blizzard in the 3rd quarter valued at $25,000. Fieldpoint Private Securities LLC bought a new position in Activision Blizzard in the fourth quarter valued at about $29,000. Ropes Wealth Advisors LLC acquired a new stake in shares of Activision Blizzard during the fourth quarter valued at about $29,000. Freedman Financial Associates Inc. bought a new stake in shares of Activision Blizzard during the fourth quarter worth about $32,000. Finally, Clearview Wealth Advisors LLC acquired a new position in shares of Activision Blizzard in the fourth quarter valued at approximately $40,000. 85.77% of the stock is currently owned by hedge funds and other institutional investors.
In other news, COO Daniel Alegre sold 18,500 shares of the company’s stock in a transaction on Wednesday, February 24th. The shares were sold at an average price of $95.74, for a total value of $1,771,190.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Christopher B. Walther sold 45,030 shares of the stock in a transaction dated Monday, March 15th. The shares were sold at an average price of $91.98, for a total transaction of $4,141,859.40. The disclosure for this sale can be found here. 1.13% of the stock is currently owned by insiders.
Activision Blizzard (NASDAQ:ATVI) last released its quarterly earnings data on Wednesday, February 3rd. The company reported $1.21 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.18 by $0.03. The firm had revenue of $3.05 billion for the quarter, compared to the consensus estimate of $2.84 billion. Activision Blizzard had a net margin of 28.90% and a return on equity of 19.07%. During the same quarter in the prior year, the company posted $1.23 earnings per share. Sell-side analysts forecast that Activision Blizzard, Inc. will post 3.22 EPS for the current year.
The firm also recently declared an annual dividend, which will be paid on Thursday, May 6th. Investors of record on Thursday, April 15th will be given a $0.47 dividend. This is a boost from Activision Blizzard’s previous annual dividend of $0.41. The ex-dividend date is Wednesday, April 14th. This represents a yield of 0.46%. Activision Blizzard’s dividend payout ratio (DPR) is presently 19.71%.
A number of research firms have weighed in on ATVI. Piper Sandler boosted their target price on shares of Activision Blizzard from $97.00 to $120.00 and gave the stock an “overweight” rating in a report on Friday, February 5th. Raymond James restated a “buy” rating on shares of Activision Blizzard in a report on Monday, February 22nd. Deutsche Bank Aktiengesellschaft raised their target price on Activision Blizzard from $100.00 to $115.00 and gave the stock a “buy” rating in a research report on Thursday, February 25th. BMO Capital Markets raised their price objective on Activision Blizzard from $80.00 to $104.00 and gave the stock a “market perform” rating in a research report on Tuesday, February 9th. Finally, Citigroup lifted their price objective on Activision Blizzard from $83.00 to $110.00 in a research note on Friday, February 19th. Four research analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $102.23.
About Activision Blizzard
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 Publishing, Inc; Blizzard Entertainment, Inc; and King Digital Entertainment.
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