Activision Blizzard, Inc. (NASDAQ:ATVI)’s share price was up 7% on Wednesday following a stronger than expected earnings report. The stock traded as high as $45.33 and last traded at $44.57. Approximately 51,692,901 shares were traded during mid-day trading, an increase of 282% from the average daily volume of 13,541,875 shares. The stock had previously closed at $41.67.
The company reported $1.29 EPS for the quarter, beating analysts’ consensus estimates of $1.21 by $0.08. The company had revenue of $2.84 billion during the quarter, compared to analysts’ expectations of $3.04 billion. Activision Blizzard had a return on equity of 15.44% and a net margin of 8.07%. Activision Blizzard’s revenue for the quarter was up 7.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.94 earnings per share.
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 represents a yield of 0.83%. The ex-dividend date is Wednesday, March 27th. This is a boost from Activision Blizzard’s previous annual dividend of $0.34. Activision Blizzard’s dividend payout ratio is 16.59%.
Large investors have recently added to or reduced their stakes in the stock. Capital Investment Advisory Services LLC purchased a new stake in shares of Activision Blizzard during the fourth quarter worth about $37,000. Lindbrook Capital LLC purchased a new stake in shares of Activision Blizzard during the fourth quarter worth about $37,000. IMS Capital Management purchased a new stake in shares of Activision Blizzard during the third quarter worth about $69,000. Pearl River Capital LLC purchased a new stake in shares of Activision Blizzard during the fourth quarter worth about $41,000. Finally, Ipswich Investment Management Co. Inc. purchased a new stake in shares of Activision Blizzard during the fourth quarter worth about $45,000. Hedge funds and other institutional investors own 90.62% of the company’s stock.
The company has a quick ratio of 2.01, a current ratio of 2.09 and a debt-to-equity ratio of 0.25. The stock has a market capitalization of $30.61 billion, a PE ratio of 21.74, a PEG ratio of 1.57 and a beta of 0.92.
About Activision Blizzard (NASDAQ:ATVI)
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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