Korea Investment CORP grew its holdings in Activision Blizzard, Inc (NASDAQ:ATVI) by 1.2% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,064,816 shares of the company’s stock after purchasing an additional 12,600 shares during the quarter. Korea Investment CORP owned about 0.14% of Activision Blizzard worth $68,691,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Allen Investment Management LLC purchased a new position in Activision Blizzard in the 2nd quarter worth approximately $2,095,000. DnB Asset Management AS raised its position in shares of Activision Blizzard by 10.6% during the 2nd quarter. DnB Asset Management AS now owns 80,653 shares of the company’s stock valued at $4,643,000 after buying an additional 7,700 shares during the period. Pacad Investment Ltd. raised its position in shares of Activision Blizzard by 131.0% during the 2nd quarter. Pacad Investment Ltd. now owns 119,447 shares of the company’s stock valued at $6,877,000 after buying an additional 67,742 shares during the period. Norinchukin Bank The raised its position in shares of Activision Blizzard by 7.1% during the 2nd quarter. Norinchukin Bank The now owns 48,118 shares of the company’s stock valued at $2,770,000 after buying an additional 3,170 shares during the period. Finally, Brighton Jones LLC purchased a new stake in shares of Activision Blizzard during the 2nd quarter valued at approximately $508,000. 86.32% of the stock is currently owned by institutional investors and hedge funds.
Shares of Activision Blizzard, Inc (NASDAQ ATVI) opened at $63.00 on Friday. Activision Blizzard, Inc has a 1-year low of $35.12 and a 1-year high of $67.03. The company has a quick ratio of 2.22, a current ratio of 2.25 and a debt-to-equity ratio of 0.44. The company has a market cap of $47,868.66, a PE ratio of 28.78, a PEG ratio of 2.21 and a beta of 1.07.
Several analysts have recently commented on the stock. Jefferies Group LLC lifted their price target on shares of Activision Blizzard from $80.00 to $82.00 and gave the company a “buy” rating in a research report on Friday, November 3rd. Piper Jaffray Companies reiterated an “overweight” rating and issued a $65.00 target price on shares of Activision Blizzard in a report on Tuesday, July 18th. Argus reiterated a “buy” rating and issued a $70.00 target price (up previously from $65.00) on shares of Activision Blizzard in a report on Wednesday, August 16th. BidaskClub downgraded shares of Activision Blizzard from a “buy” rating to a “hold” rating in a report on Tuesday, July 25th. Finally, Bank of America Corporation upgraded shares of Activision Blizzard from a “neutral” rating to a “buy” rating and lifted their target price for the company from $65.00 to $76.00 in a report on Friday, August 4th. Six investment analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the company’s stock. Activision Blizzard currently has a consensus rating of “Buy” and an average price target of $68.75.
In other news, CEO Riccardo Zacconi sold 19,761 shares of the company’s stock in a transaction dated Friday, August 18th. The shares were sold at an average price of $61.32, for a total value of $1,211,744.52. Following the completion of the sale, the chief executive officer now directly owns 48,472 shares of the company’s stock, valued at $2,972,303.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 2.12% of the stock is currently owned by corporate insiders.
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Activision Blizzard Company Profile
Activision Blizzard, Inc is a developer and publisher of interactive entertainment content and services. The Company develops and distributes content and services across various gaming platforms, including video game consoles, personal computers (PC) and mobile devices. Its segments include Activision Publishing, Inc (Activision), Blizzard Entertainment, Inc (Blizzard), King Digital Entertainment (King) and Other.
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