Fintel reports that on September 22, 2023, Wedbush reiterated coverage of Activision Blizzard (NASDAQ:ATVI) with a Outperform recommendation.
Analyst Price Forecast Suggests 4.72% Upside
As of August 31, 2023, the average one-year price target for Activision Blizzard is 96.71. The forecasts range from a low of 90.90 to a high of $100.80. The average price target represents an increase of 4.72% from its latest reported closing price of 92.35.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Activision Blizzard is 9,832MM, an increase of 12.93%. The projected annual non-GAAP EPS is 3.98.
Activision Blizzard Declares $0.99 Dividend
On July 18, 2023 the company declared a regular annual dividend of $0.99 per share. Shareholders of record as of August 2, 2023 received the payment on August 17, 2023. Previously, the company paid $0.47 per share.
At the current share price of $92.35 / share, the stock's dividend yield is 1.07%.
Looking back five years and taking a sample every week, the average dividend yield has been 0.63%, the lowest has been 0.41%, and the highest has been 1.09%. The standard deviation of yields is 0.13 (n=235).
The current dividend yield is 3.29 standard deviations above the historical average.
Additionally, the company's dividend payout ratio is 0.36. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company's 3-Year dividend growth rate is 1.41%, demonstrating that it has increased its dividend over time.
What is the Fund Sentiment?
There are 2168 funds or institutions reporting positions in Activision Blizzard. This is a decrease of 39 owner(s) or 1.77% in the last quarter. Average portfolio weight of all funds dedicated to ATVI is 0.67%, a decrease of 3.86%. Total shares owned by institutions decreased in the last three months by 1.04% to 680,132K shares. 
The put/call ratio of ATVI is 2.46, indicating a bearish outlook.
What are Other Shareholders Doing?
Public Investment Fund holds 37,909K shares representing 4.82% ownership of the company. No change in the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 23,284K shares representing 2.96% ownership of the company. In it's prior filing, the firm reported owning 21,854K shares, representing an increase of 6.14%. The firm decreased its portfolio allocation in ATVI by 3.18% over the last quarter.
Pentwater Capital Management holds 21,262K shares representing 2.70% ownership of the company. In it's prior filing, the firm reported owning 15,390K shares, representing an increase of 27.62%. The firm decreased its portfolio allocation in ATVI by 2.80% over the last quarter.
VFINX - Vanguard 500 Index Fund Investor Shares holds 17,033K shares representing 2.16% ownership of the company. In it's prior filing, the firm reported owning 16,618K shares, representing an increase of 2.44%. The firm decreased its portfolio allocation in ATVI by 8.57% over the last quarter.
Geode Capital Management holds 15,257K shares representing 1.94% ownership of the company. In it's prior filing, the firm reported owning 15,408K shares, representing a decrease of 0.99%. The firm decreased its portfolio allocation in ATVI by 11.78% over the last quarter.
Activision Blizzard Background Information
(This description is provided by the company.)
Activision Blizzard, Inc. connects and engages the world through epic entertainment. A member of the Fortune 500 and S&P 500, Activision Blizzard is a leading interactive entertainment company. It delights hundreds of millions of monthly active users around the world through franchises including Activision's Call of Duty® and Crash Bandicoot™, Blizzard Entertainment's World of Warcraft®, Overwatch®, Hearthstone®, Diablo®, and StarCraft®, and King's Candy Crush™, Bubble Witch™, and Farm Heroes™. Headquartered in Santa Monica, California, Activision Blizzard has operations throughout the world.
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