Peak Financial Advisors LLC Raises Stock Position in Activision Blizzard, Inc. (NASDAQ:ATVI)

Peak Financial Advisors LLC lifted its stake in shares of Activision Blizzard, Inc. (NASDAQ:ATVI) by 0.5% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 28,354 shares of the company’s stock after buying an additional 154 shares during the quarter. Activision Blizzard makes up approximately 1.9% of Peak Financial Advisors LLC’s portfolio, making the stock its 18th biggest position. Peak Financial Advisors LLC’s holdings in Activision Blizzard were worth $2,390,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. BlackRock Inc. boosted its holdings in Activision Blizzard by 2.3% in the first quarter. BlackRock Inc. now owns 57,581,831 shares of the company’s stock valued at $4,928,429,000 after purchasing an additional 1,273,000 shares in the last quarter. State Street Corp boosted its holdings in Activision Blizzard by 1.3% in the first quarter. State Street Corp now owns 30,289,410 shares of the company’s stock valued at $2,592,468,000 after purchasing an additional 386,932 shares in the last quarter. FMR LLC boosted its holdings in Activision Blizzard by 10.2% in the first quarter. FMR LLC now owns 25,913,593 shares of the company’s stock valued at $2,217,944,000 after purchasing an additional 2,403,962 shares in the last quarter. Aristotle Capital Management LLC acquired a new position in Activision Blizzard in the first quarter valued at approximately $880,055,000. Finally, Norges Bank acquired a new position in Activision Blizzard in the fourth quarter valued at approximately $742,922,000. 81.93% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on ATVI shares. Roth Mkm downgraded Activision Blizzard from a “buy” rating to a “neutral” rating and upped their price target for the company from $88.00 to $95.00 in a report on Friday, July 21st. Atlantic Securities cut Activision Blizzard from an “overweight” rating to a “neutral” rating and set a $95.00 price objective for the company. in a research note on Tuesday, July 18th. Edward Jones cut Activision Blizzard from a “buy” rating to a “hold” rating in a research note on Thursday, July 20th. BNP Paribas cut Activision Blizzard from an “outperform” rating to a “neutral” rating and set a $95.00 price objective for the company. in a research note on Thursday, July 13th. Finally, UBS Group cut Activision Blizzard from a “buy” rating to a “neutral” rating and boosted their price objective for the company from $95.00 to $96.00 in a research note on Thursday, July 20th. Sixteen equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $94.37.

Activision Blizzard Trading Down 0.4 %

NASDAQ:ATVI opened at $91.82 on Friday. The stock has a fifty day moving average price of $91.53 and a two-hundred day moving average price of $84.63. The stock has a market capitalization of $72.24 billion, a price-to-earnings ratio of 33.63, a PEG ratio of 2.55 and a beta of 0.44. The company has a debt-to-equity ratio of 0.17, a quick ratio of 4.66 and a current ratio of 4.66. Activision Blizzard, Inc. has a 1 year low of $70.94 and a 1 year high of $93.67.

Activision Blizzard (NASDAQ:ATVI) last released its quarterly earnings data on Wednesday, July 19th. The company reported $0.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.78 by $0.17. The firm had revenue of $2.46 billion during the quarter, compared to analysts’ expectations of $2.44 billion. Activision Blizzard had a return on equity of 14.87% and a net margin of 24.87%. As a group, sell-side analysts anticipate that Activision Blizzard, Inc. will post 3.74 earnings per share for the current fiscal year.

Activision Blizzard Increases Dividend

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

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.