QCI Asset Management Inc. NY lifted its stake in shares of Activision Blizzard, Inc. (NASDAQ:ATVI) by 1.3% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 199,659 shares of the company’s stock after purchasing an additional 2,609 shares during the quarter. Activision Blizzard accounts for about 1.6% of QCI Asset Management Inc. NY’s portfolio, making the stock its 29th largest position. QCI Asset Management Inc. NY’s holdings in Activision Blizzard were worth $16,610,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors also recently made changes to their positions in ATVI. Egerton Capital UK LLP grew its holdings in shares of Activision Blizzard by 29.1% during the 2nd quarter. Egerton Capital UK LLP now owns 7,286,230 shares of the company’s stock valued at $556,085,000 after purchasing an additional 1,642,285 shares during the last quarter. ADAMCAPITAL Gestao de Recursos Ltda. bought a new stake in Activision Blizzard during the 2nd quarter worth approximately $108,371,000. Flossbach Von Storch AG grew its holdings in Activision Blizzard by 5,313.4% during the 2nd quarter. Flossbach Von Storch AG now owns 1,190,950 shares of the company’s stock worth $90,893,000 after acquiring an additional 1,168,950 shares during the last quarter. Marshall Wace LLP grew its holdings in Activision Blizzard by 545.7% during the 2nd quarter. Marshall Wace LLP now owns 1,216,280 shares of the company’s stock worth $92,826,000 after acquiring an additional 1,027,904 shares during the last quarter. Finally, American Century Companies Inc. grew its holdings in Activision Blizzard by 42.3% during the 2nd quarter. American Century Companies Inc. now owns 3,440,431 shares of the company’s stock worth $262,574,000 after acquiring an additional 1,022,112 shares during the last quarter. 86.92% of the stock is currently owned by institutional investors.
Shares of NASDAQ ATVI opened at $55.01 on Friday. The company has a market capitalization of $49.63 billion, a PE ratio of 26.83, a PEG ratio of 1.73 and a beta of 1.11. Activision Blizzard, Inc. has a 52-week low of $53.50 and a 52-week high of $84.68. The company has a debt-to-equity ratio of 0.42, a quick ratio of 2.96 and a current ratio of 2.98.
Activision Blizzard (NASDAQ:ATVI) last issued its quarterly earnings results on Thursday, November 8th. The company reported $0.47 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.50 by ($0.03). The firm had revenue of $1.66 billion during the quarter, compared to analyst estimates of $1.66 billion. Activision Blizzard had a return on equity of 16.39% and a net margin of 6.96%. The firm’s revenue for the quarter was down 12.6% on a year-over-year basis. During the same quarter last year, the firm posted $0.25 EPS. On average, equities research analysts expect that Activision Blizzard, Inc. will post 2.49 EPS for the current year.
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 transaction, the chief executive officer now owns 20,324 shares in the company, valued at approximately $1,396,258.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.29% of the stock is currently owned by insiders.
ATVI has been the topic of a number of research reports. Needham & Company LLC boosted their target price on shares of Activision Blizzard from $80.00 to $90.00 and gave the stock a “buy” rating in a report on Tuesday, July 31st. Wedbush boosted their target price on shares of Activision Blizzard from $85.00 to $100.00 and gave the stock an “outperform” rating in a report on Monday, October 1st. Bank of America lowered shares of Activision Blizzard from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $84.00 to $77.00 in a report on Friday, August 31st. BidaskClub raised shares of Activision Blizzard from a “hold” rating to a “buy” rating in a report on Saturday, September 29th. Finally, Piper Jaffray Companies reissued an “overweight” rating and set a $88.00 target price on shares of Activision Blizzard in a report on Wednesday, September 26th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the stock. Activision Blizzard presently has a consensus rating of “Buy” and a consensus price target of $77.62.
About Activision Blizzard
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.
Further Reading: Rule of 72
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