Wright Investors Service Inc. increased its position in shares of Activision Blizzard, Inc. (NASDAQ:ATVI) by 9.8% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 18,575 shares of the company’s stock after purchasing an additional 1,662 shares during the quarter. Wright Investors Service Inc.’s holdings in Activision Blizzard were worth $877,000 as of its most recent SEC filing.
Other institutional investors have also recently added to or reduced their stakes in the company. Massey Quick Simon & CO. LLC purchased a new position in Activision Blizzard during the first quarter worth about $25,000. Nelson Van Denburg & Campbell Wealth Management Group LLC purchased a new position in Activision Blizzard in the first quarter valued at about $27,000. Thor Advisors LLC purchased a new position in Activision Blizzard in the first quarter valued at about $40,000. Kavar Capital Partners LLC purchased a new position in Activision Blizzard in the second quarter valued at about $47,000. Finally, Executive Wealth Management LLC boosted its stake in Activision Blizzard by 42.5% in the second quarter. Executive Wealth Management LLC now owns 1,026 shares of the company’s stock valued at $48,000 after acquiring an additional 306 shares during the last quarter. Institutional investors and hedge funds own 86.34% of the company’s stock.
A number of research analysts have weighed in on ATVI shares. Bank of America boosted their target price on shares of Activision Blizzard from $56.00 to $57.00 and gave the company a “buy” rating in a research note on Friday, August 9th. Wedbush reissued an “outperform” rating and issued a $60.00 price target on shares of Activision Blizzard in a research report on Friday, August 9th. Jefferies Financial Group began coverage on shares of Activision Blizzard in a research report on Thursday, July 11th. They issued a “buy” rating and a $56.00 price target on the stock. SunTrust Banks boosted their price target on shares of Activision Blizzard from $52.00 to $56.00 and gave the company a “buy” rating in a research report on Monday. Finally, UBS Group reissued a “buy” rating and issued a $56.00 price target (up previously from $52.00) on shares of Activision Blizzard in a research report on Friday, August 9th. Twelve analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $59.68.
In other news, insider Christopher B. Walther sold 5,333 shares of the stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $50.34, for a total value of $268,463.22. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Christopher B. Walther sold 11,333 shares of the stock in a transaction on Monday, July 1st. The stock was sold at an average price of $47.91, for a total transaction of $542,964.03. The disclosure for this sale can be found here. Insiders have sold a total of 18,999 shares of company stock worth $914,079 in the last ninety days. 1.29% of the stock is currently owned by insiders.
Activision Blizzard stock traded up $0.11 during midday trading on Thursday, reaching $45.37. 214,949 shares of the stock were exchanged, compared to its average volume of 6,763,880. The firm has a fifty day simple moving average of $47.41. The company has a current ratio of 2.63, a quick ratio of 2.61 and a debt-to-equity ratio of 0.23. The stock has a market cap of $36.11 billion, a price-to-earnings ratio of 18.93, a PEG ratio of 2.06 and a beta of 0.90. Activision Blizzard, Inc. has a 52 week low of $39.85 and a 52 week high of $84.68.
Activision Blizzard (NASDAQ:ATVI) last posted its earnings results on Thursday, August 8th. The company reported $0.34 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.20 by $0.14. The business had revenue of $1.21 billion for the quarter, compared to analyst estimates of $1.19 billion. Activision Blizzard had a net margin of 23.69% and a return on equity of 15.81%. Activision Blizzard’s revenue was down 12.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.41 EPS. As a group, analysts forecast that Activision Blizzard, Inc. will post 2.01 EPS 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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