Waverton Investment Management Ltd raised its stake in Activision Blizzard, Inc. (NASDAQ:ATVI) by 57.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 943,017 shares of the company’s stock after acquiring an additional 343,697 shares during the period. Activision Blizzard accounts for approximately 3.5% of Waverton Investment Management Ltd’s portfolio, making the stock its 15th largest position. Waverton Investment Management Ltd owned approximately 0.12% of Activision Blizzard worth $59,712,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Cornerstone Advisors Inc. boosted its stake in shares of Activision Blizzard by 321.5% during the third quarter. Cornerstone Advisors Inc. now owns 1,547 shares of the company’s stock worth $100,000 after buying an additional 1,180 shares during the period. Grove Bank & Trust boosted its stake in shares of Activision Blizzard by 261.7% during the third quarter. Grove Bank & Trust now owns 2,170 shares of the company’s stock worth $140,000 after buying an additional 1,570 shares during the period. Phocas Financial Corp. acquired a new stake in shares of Activision Blizzard during the second quarter worth about $173,000. Chicago Equity Partners LLC acquired a new stake in shares of Activision Blizzard during the third quarter worth about $204,000. Finally, Tiedemann Wealth Management LLC acquired a new stake in shares of Activision Blizzard during the third quarter worth about $213,000. Institutional investors own 86.48% of the company’s stock.
Several equities research analysts have recently weighed in on ATVI shares. Buckingham Research initiated coverage on shares of Activision Blizzard in a research note on Wednesday, September 20th. They set a “buy” rating and a $79.00 target price for the company. BMO Capital Markets restated a “market perform” rating and issued a $62.00 price objective (up previously from $60.00) on shares of Activision Blizzard in a research report on Wednesday, September 20th. Robert W. Baird restated an “outperform” rating and issued a $68.00 price objective on shares of Activision Blizzard in a research report on Wednesday, September 20th. Vetr upgraded shares of Activision Blizzard from a “hold” rating to a “buy” rating and set a $64.25 price objective for the company in a research report on Wednesday, September 27th. Finally, Barclays initiated coverage on shares of Activision Blizzard in a research report on Wednesday, October 4th. They issued an “equal weight” rating and a $65.00 price objective for the company. Six investment analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the company. Activision Blizzard has a consensus rating of “Buy” and an average price target of $69.94.
Shares of Activision Blizzard, Inc. (NASDAQ:ATVI) traded up $0.63 on Wednesday, hitting $66.82. 3,252,074 shares of the stock were exchanged, compared to its average volume of 4,843,317. The company has a debt-to-equity ratio of 0.44, a quick ratio of 2.22 and a current ratio of 2.25. Activision Blizzard, Inc. has a fifty-two week low of $37.49 and a fifty-two week high of $67.40. The stock has a market cap of $50,280.00, a PE ratio of 45.77, a price-to-earnings-growth ratio of 1.94 and a beta of 1.02.
In other Activision Blizzard news, CEO Riccardo Zacconi sold 19,761 shares of Activision Blizzard stock in a transaction that occurred on Friday, November 17th. The shares were sold at an average price of $63.64, for a total value of $1,257,590.04. Following the completion of the sale, the chief executive officer now directly owns 41,435 shares of the company’s stock, valued at approximately $2,636,923.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 2.12% of the company’s stock.
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Activision Blizzard 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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