Appleton Partners Inc. Lowers Position in Activision Blizzard, Inc.

Appleton Partners Inc. MA reduced its stake in Activision Blizzard, Inc. by 25.4% during the second quarter, according to a recent filing with the Securities & Exchange Commission. The institutional investor sold 2,369 shares of the company’s stock, leaving it with a total of 6,955 shares. The value of Appleton Partners Inc. MA’s holdings in Activision Blizzard was approximately $586,000.

In addition, other hedge funds have also made changes to their positions in the company. Lincoln National Corp increased its stake by 7.4% during the first quarter, while Guggenheim Capital LLC raised its stake by 2.3% during the same period. Aspen Wealth Strategies LLC and Park Place Capital Corp also acquired new shares in the first quarter. Korea Investment CORP increased its stake in Activision Blizzard by 9.2% during the fourth quarter. Overall, institutional investors now own 81.93% of the company’s stock.

Activision Blizzard’s stock performance on NASDAQ opened at $91.82 on Friday. The company has a 52-week low of $70.94 and a 52-week high of $93.67. With a market capitalization of $72.24 billion, Activision Blizzard has a P/E ratio of 33.63 and a beta of 0.44.

In terms of earnings, Activision Blizzard reported earnings per share (EPS) of $0.95 for the second quarter, surpassing analysts’ estimates of $0.78 by $0.17. The company had a net margin of 24.87% and a return on equity of 14.87%. It generated $2.46 billion in revenue, slightly higher than the consensus estimate of $2.44 billion.

Activision Blizzard also announced an increase in its annual dividend. Stockholders of record on August 2nd received a dividend of $0.99 per share. This represents a dividend yield of 1.07%, compared to the company’s previous annual dividend of $0.47.

Several equities research analysts have issued ratings on Activision Blizzard. Jefferies Financial Group lowered their rating from “buy” to “hold”, while Benchmark and Atlantic Securities also downgraded their ratings. Truist Financial, on the other hand, lifted its price target for the company. Additionally, recently initiated coverage on the stock, giving it a “buy” rating.

Activision Blizzard, Inc. develops and publishes interactive entertainment content and services worldwide. It operates through three segments: Activision, Blizzard, and King. The company distributes its content and services on various platforms, including video game consoles, personal computers, and mobile devices.

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