Shell Asset Management Co. lowered its holdings in Activision Blizzard, Inc. (NASDAQ:ATVI) by 63.8% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 44,316 shares of the company’s stock after selling 78,174 shares during the period. Shell Asset Management Co.’s holdings in Activision Blizzard were worth $2,806,000 at the end of the most recent reporting period.
Other hedge funds have also made changes to their positions in the company. Cornerstone Advisors Inc. grew its holdings in shares of Activision Blizzard by 321.5% in the third quarter. Cornerstone Advisors Inc. now owns 1,547 shares of the company’s stock valued at $100,000 after purchasing an additional 1,180 shares in the last quarter. SeaCrest Wealth Management LLC acquired a new position in shares of Activision Blizzard in the fourth quarter valued at approximately $125,000. Goodman Financial Corp acquired a new position in shares of Activision Blizzard in the fourth quarter valued at approximately $127,000. Grove Bank & Trust grew its holdings in shares of Activision Blizzard by 261.7% in the third quarter. Grove Bank & Trust now owns 2,170 shares of the company’s stock valued at $140,000 after purchasing an additional 1,570 shares in the last quarter. Finally, Exane Derivatives grew its holdings in shares of Activision Blizzard by 15,900.0% in the fourth quarter. Exane Derivatives now owns 3,040 shares of the company’s stock valued at $192,000 after purchasing an additional 3,021 shares in the last quarter. Hedge funds and other institutional investors own 86.06% of the company’s stock.
In related news, CEO Riccardo Zacconi sold 19,761 shares of the company’s stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $70.99, for a total value of $1,402,833.39. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Robert J. Corti sold 88,000 shares of the company’s stock in a transaction on Friday, February 16th. The shares were sold at an average price of $69.88, for a total transaction of $6,149,440.00. Following the completion of the sale, the director now owns 129,562 shares of the company’s stock, valued at approximately $9,053,792.56. The disclosure for this sale can be found here. 2.12% of the stock is owned by corporate insiders.
A number of research analysts recently weighed in on the stock. Argus lifted their price objective on shares of Activision Blizzard from $70.00 to $81.00 and gave the company a “buy” rating in a report on Friday, February 16th. Zacks Investment Research cut shares of Activision Blizzard from a “buy” rating to a “hold” rating in a report on Wednesday, February 14th. TheStreet cut shares of Activision Blizzard from a “b” rating to a “c+” rating in a report on Thursday, February 8th. Vetr upgraded shares of Activision Blizzard from a “buy” rating to a “strong-buy” rating and set a $75.74 price target for the company in a report on Monday, February 12th. Finally, Barclays set a $70.00 price target on shares of Activision Blizzard and gave the stock a “hold” rating in a report on Friday, February 9th. Six analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $73.08.
Shares of Activision Blizzard, Inc. (ATVI) opened at $70.22 on Thursday. The firm has a market cap of $53,562.09, a P/E ratio of 195.06, a PEG ratio of 1.89 and a beta of 1.11. The company has a current ratio of 1.78, a quick ratio of 1.77 and a debt-to-equity ratio of 0.46. Activision Blizzard, Inc. has a 12-month low of $44.60 and a 12-month high of $74.94.
Activision Blizzard (NASDAQ:ATVI) last issued its quarterly earnings data on Thursday, February 8th. The company reported $0.94 earnings per share for the quarter, topping the consensus estimate of $0.92 by $0.02. Activision Blizzard had a net margin of 3.89% and a return on equity of 17.48%. The business had revenue of $2.64 billion during the quarter, compared to the consensus estimate of $2.55 billion. During the same quarter in the previous year, the firm earned $0.65 EPS. The company’s revenue was up 7.7% compared to the same quarter last year. research analysts expect that Activision Blizzard, Inc. will post 2.57 earnings per share for the current fiscal year.
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About Activision Blizzard
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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