Activision Blizzard, Inc. (ATVI) Position Boosted by DNB Asset Management AS
DNB Asset Management AS increased its position in shares of Activision Blizzard, Inc. (NASDAQ:ATVI) by 98.7% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,472,661 shares of the company’s stock after buying an additional 1,228,348 shares during the period. Activision Blizzard accounts for approximately 1.3% of DNB Asset Management AS’s investment portfolio, making the stock its 14th biggest position. DNB Asset Management AS owned approximately 0.32% of Activision Blizzard worth $112,580,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently modified their holdings of ATVI. Capital Investment Advisory Services LLC acquired a new position in shares of Activision Blizzard in the fourth quarter valued at $37,000. Lindbrook Capital LLC acquired a new position in shares of Activision Blizzard in the fourth quarter valued at $37,000. Pearl River Capital LLC acquired a new position in shares of Activision Blizzard in the fourth quarter valued at $41,000. Ipswich Investment Management Co. Inc. acquired a new position in shares of Activision Blizzard in the fourth quarter valued at $45,000. Finally, Mondrian Capital Management LLC acquired a new position in shares of Activision Blizzard in the fourth quarter valued at $47,000. Institutional investors and hedge funds own 89.05% of the company’s stock.
Several research firms have commented on ATVI. ValuEngine downgraded shares of Activision Blizzard from a “hold” rating to a “sell” rating in a report on Monday, April 1st. Wedbush reiterated an “outperform” rating and issued a $60.00 price objective on shares of Activision Blizzard in a report on Monday, April 1st. BidaskClub upgraded shares of Activision Blizzard from a “sell” rating to a “hold” rating in a report on Wednesday, March 20th. Zacks Investment Research upgraded shares of Activision Blizzard from a “strong sell” rating to a “hold” rating in a report on Friday, March 15th. Finally, Stifel Nicolaus decreased their price objective on shares of Activision Blizzard from $57.00 to $52.00 and set a “buy” rating on the stock in a report on Tuesday, February 19th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and nineteen have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $62.04.
ATVI opened at $47.86 on Thursday. Activision Blizzard, Inc. has a twelve month low of $39.85 and a twelve month high of $84.68. The company has a debt-to-equity ratio of 0.24, a current ratio of 2.31 and a quick ratio of 2.29. The stock has a market cap of $35.91 billion, a P/E ratio of 20.03, a PEG ratio of 2.35 and a beta of 0.83.
Activision Blizzard (NASDAQ:ATVI) last posted its quarterly earnings data on Tuesday, February 12th. The company reported $1.29 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.21 by $0.08. Activision Blizzard had a net margin of 24.16% and a return on equity of 17.55%. The business had revenue of $2.84 billion during the quarter, compared to analysts’ expectations of $3.04 billion. During the same quarter in the prior year, the business posted $0.94 earnings per share. Activision Blizzard’s revenue was up 7.6% compared to the same quarter last year. As a group, analysts anticipate that Activision Blizzard, Inc. will post 1.98 EPS for the current fiscal year.
The company also recently disclosed an annual dividend, which will be paid on Thursday, May 9th. Investors of record on Thursday, March 28th will be given a dividend of $0.37 per share. This is a boost from Activision Blizzard’s previous annual dividend of $0.34. The ex-dividend date of this dividend is Wednesday, March 27th. This represents a yield of 0.83%. Activision Blizzard’s dividend payout ratio is currently 15.48%.
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About Activision Blizzard
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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