DAVENPORT & Co LLC lowered its position in Activision Blizzard, Inc. (NASDAQ:ATVI) by 38.7% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 9,891 shares of the company’s stock after selling 6,248 shares during the period. DAVENPORT & Co LLC’s holdings in Activision Blizzard were worth $751,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds and other institutional investors have also recently made changes to their positions in ATVI. Massachusetts Financial Services Co. MA bought a new stake in Activision Blizzard in the first quarter worth about $327,047,000. Morgan Stanley increased its position in shares of Activision Blizzard by 65.3% during the first quarter. Morgan Stanley now owns 8,571,832 shares of the company’s stock worth $509,853,000 after acquiring an additional 3,385,187 shares during the period. AJO LP increased its position in shares of Activision Blizzard by 587.8% during the first quarter. AJO LP now owns 2,755,286 shares of the company’s stock worth $163,883,000 after acquiring an additional 2,354,676 shares during the period. Capital International Investors increased its position in shares of Activision Blizzard by 4.0% during the first quarter. Capital International Investors now owns 59,362,226 shares of the company’s stock worth $3,530,860,000 after acquiring an additional 2,295,133 shares during the period. Finally, BlackRock Inc. increased its position in shares of Activision Blizzard by 4.3% during the first quarter. BlackRock Inc. now owns 52,051,234 shares of the company’s stock worth $3,096,008,000 after acquiring an additional 2,149,264 shares during the period. 86.73% of the stock is owned by institutional investors and hedge funds.
A number of equities analysts have recently commented on the stock. MKM Partners raised their target price on shares of Activision Blizzard from $80.00 to $87.00 in a research report on Wednesday, July 15th. Stephens raised their target price on shares of Activision Blizzard from $72.00 to $78.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 6th. Nomura Instinet lifted their price objective on shares of Activision Blizzard from $70.00 to $80.00 and gave the company a “buy” rating in a report on Wednesday, May 6th. Barclays lifted their price objective on shares of Activision Blizzard from $82.00 to $90.00 and gave the company an “overweight” rating in a report on Tuesday, July 21st. They noted that the move was a valuation call. Finally, Morgan Stanley lifted their price objective on shares of Activision Blizzard from $80.00 to $88.00 and gave the company an “overweight” rating in a report on Friday, July 24th. One research analyst has rated the stock with a sell rating, four have given a hold rating, twenty-seven have assigned a buy rating and two have given a strong buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $78.47.
In other news, CAO Jesse Yang acquired 400 shares of the firm’s stock in a transaction on Wednesday, May 27th. The stock was acquired at an average price of $68.52 per share, for a total transaction of $27,408.00. Following the completion of the transaction, the chief accounting officer now owns 700 shares in the company, valued at approximately $47,964. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Brian G. Kelly sold 50,000 shares of the company’s stock in a transaction dated Monday, May 18th. The stock was sold at an average price of $73.28, for a total transaction of $3,664,000.00. The disclosure for this sale can be found here. Insiders have sold 324,000 shares of company stock valued at $23,504,440 over the last 90 days. 1.29% of the stock is currently owned by insiders.
NASDAQ ATVI opened at $82.63 on Friday. The company has a market capitalization of $63.67 billion, a PE ratio of 35.01, a P/E/G ratio of 2.01 and a beta of 0.61. The company has a fifty day moving average of $77.75 and a 200 day moving average of $67.08. Activision Blizzard, Inc. has a 1 year low of $44.91 and a 1 year high of $83.45. The company has a debt-to-equity ratio of 0.21, a current ratio of 2.78 and a quick ratio of 2.78.
Activision Blizzard (NASDAQ:ATVI) last posted its earnings results on Tuesday, May 5th. The company reported $0.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.38 by $0.20. The company had revenue of $1.52 billion during the quarter, compared to the consensus estimate of $1.32 billion. Activision Blizzard had a net margin of 24.21% and a return on equity of 14.57%. The firm’s quarterly revenue was up 21.0% on a year-over-year basis. During the same period in the previous year, the firm posted $0.58 earnings per share. Research analysts expect that Activision Blizzard, Inc. will post 2.54 earnings per share for the current year.
Activision Blizzard Company Profile
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. It 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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