Shorepoint Capital Partners LLC Raises Stake in Activision Blizzard, Inc. (NASDAQ:ATVI)

Shorepoint Capital Partners LLC increased its stake in Activision Blizzard, Inc. (NASDAQ:ATVI) by 7.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 12,359 shares of the company’s stock after buying an additional 862 shares during the period. Shorepoint Capital Partners LLC’s holdings in Activision Blizzard were worth $1,058,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Migdal Insurance & Financial Holdings Ltd. boosted its stake in shares of Activision Blizzard by 186.4% during the first quarter. Migdal Insurance & Financial Holdings Ltd. now owns 338 shares of the company’s stock valued at $29,000 after purchasing an additional 220 shares in the last quarter. Pin Oak Investment Advisors Inc. acquired a new stake in Activision Blizzard in the 1st quarter worth approximately $35,000. Ameritas Advisory Services LLC acquired a new stake in Activision Blizzard in the 1st quarter worth approximately $38,000. Fairfield Bush & CO. purchased a new stake in Activision Blizzard during the 1st quarter worth approximately $41,000. Finally, ICA Group Wealth Management LLC acquired a new position in shares of Activision Blizzard in the 4th quarter valued at $40,000. Institutional investors own 81.93% of the company’s stock.

Activision Blizzard Stock Up 0.1 %

NASDAQ:ATVI traded up $0.07 during trading hours on Monday, hitting $92.19. The company’s stock had a trading volume of 794,407 shares, compared to its average volume of 8,362,964. The stock has a fifty day moving average of $90.61 and a 200-day moving average of $84.15. The stock has a market capitalization of $72.54 billion, a P/E ratio of 33.74, a price-to-earnings-growth ratio of 2.55 and a beta of 0.44. Activision Blizzard, Inc. has a 52-week low of $70.94 and a 52-week high of $93.67. The company has a current ratio of 4.66, a quick ratio of 4.66 and a debt-to-equity ratio of 0.17.

Activision Blizzard (NASDAQ:ATVI) last posted its earnings results 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. Activision Blizzard had a return on equity of 14.87% and a net margin of 24.87%. The business had revenue of $2.46 billion during the quarter, compared to the consensus estimate of $2.44 billion. On average, equities analysts forecast that Activision Blizzard, Inc. will post 3.74 earnings per share for the current year.

Activision Blizzard Increases Dividend

The business also recently disclosed an annual dividend, which was paid on Thursday, August 17th. Shareholders of record on Wednesday, August 2nd were paid a dividend of $0.99 per share. The ex-dividend date of this dividend was Tuesday, August 1st. This is an increase from Activision Blizzard’s previous annual dividend of $0.47. This represents a yield of 1.07%. Activision Blizzard’s dividend payout ratio is currently 36.26%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. Wedbush upped their target price on Activision Blizzard from $95.00 to $95.99 and gave the company an “outperform” rating in a research report on Thursday, July 20th. Stifel Nicolaus cut shares of Activision Blizzard from a “buy” rating to a “hold” rating and raised their target price for the stock from $88.00 to $95.00 in a report on Wednesday, July 12th. BNP Paribas lowered shares of Activision Blizzard from an “outperform” rating to a “neutral” rating and set a $95.00 price target on the stock. in a report on Thursday, July 13th. Citigroup lowered Activision Blizzard from a “buy” rating to a “neutral” rating and lifted their price objective for the company from $90.00 to $95.00 in a research note on Thursday, July 20th. Finally, Roth Capital downgraded Activision Blizzard from a “buy” rating to a “neutral” rating in a research note on Friday, July 21st. Sixteen investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, Activision Blizzard currently has a consensus rating of “Hold” and an average target price of $94.37.

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, 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.