US Bancorp DE trimmed its position in Activision Blizzard, Inc. (NASDAQ:ATVI) by 2.7% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 90,116 shares of the company’s stock after selling 2,524 shares during the period. US Bancorp DE’s holdings in Activision Blizzard were worth $7,495,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Asset Advisors Investment Management LLC acquired a new stake in Activision Blizzard in the third quarter valued at approximately $100,000. Ashburton Jersey Ltd purchased a new position in shares of Activision Blizzard in the second quarter worth $107,000. Quad Cities Investment Group LLC purchased a new position in shares of Activision Blizzard in the second quarter worth $114,000. NuWave Investment Management LLC purchased a new position in shares of Activision Blizzard in the second quarter worth $121,000. Finally, Kaizen Advisory LLC raised its holdings in shares of Activision Blizzard by 155.2% in the second quarter. Kaizen Advisory LLC now owns 1,876 shares of the company’s stock worth $143,000 after buying an additional 1,141 shares during the last quarter. Institutional investors own 86.92% of the company’s stock.
In other news, CEO Riccardo Zacconi sold 19,761 shares of the business’s stock in a transaction that occurred on Monday, August 20th. The shares were sold at an average price of $68.70, for a total value of $1,357,580.70. Following the sale, the chief executive officer now directly owns 20,324 shares of the company’s stock, valued at approximately $1,396,258.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.29% of the stock is currently owned by insiders.
A number of research analysts have issued reports on the stock. TheStreet cut shares of Activision Blizzard from a “b” rating to a “c+” rating in a report on Thursday. UBS Group decreased their price target on shares of Activision Blizzard from $88.00 to $70.00 and set a “buy” rating for the company in a report on Friday. Credit Suisse Group decreased their price target on shares of Activision Blizzard from $85.00 to $79.00 and set an “outperform” rating for the company in a report on Friday. KeyCorp reaffirmed an “overweight” rating and issued a $80.00 price target (down previously from $85.00) on shares of Activision Blizzard in a report on Friday. Finally, Piper Jaffray Companies reaffirmed an “overweight” rating and issued a $74.00 price target on shares of Activision Blizzard in a report on Friday. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the company. Activision Blizzard presently has an average rating of “Buy” and an average price target of $77.62.
Activision Blizzard stock opened at $55.01 on Friday. The company has a market capitalization of $49.63 billion, a PE ratio of 26.83, a P/E/G ratio of 1.73 and a beta of 1.11. Activision Blizzard, Inc. has a 1 year low of $53.50 and a 1 year high of $84.68. The company has a current ratio of 2.98, a quick ratio of 2.96 and a debt-to-equity ratio of 0.42.
Activision Blizzard (NASDAQ:ATVI) last released its quarterly earnings results on Thursday, November 8th. The company reported $0.47 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.03). The company had revenue of $1.66 billion during the quarter, compared to analysts’ expectations of $1.66 billion. Activision Blizzard had a net margin of 6.96% and a return on equity of 16.39%. Activision Blizzard’s revenue was down 12.6% on a year-over-year basis. During the same period last year, the firm posted $0.25 earnings per share. On average, research analysts forecast that Activision Blizzard, Inc. will post 2.49 EPS for the current year.
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Activision Blizzard 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. 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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