MetLife Investment Advisors LLC acquired a new position in Activision Blizzard, Inc. (NASDAQ:ATVI) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 233,943 shares of the company’s stock, valued at approximately $14,813,000.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Raymond James Financial Services Advisors Inc. lifted its stake in shares of Activision Blizzard by 1.2% in the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 101,870 shares of the company’s stock valued at $6,572,000 after purchasing an additional 1,238 shares during the period. Chicago Equity Partners LLC purchased a new position in shares of Activision Blizzard in the 3rd quarter valued at approximately $204,000. New York State Common Retirement Fund lifted its stake in shares of Activision Blizzard by 12.9% in the 3rd quarter. New York State Common Retirement Fund now owns 2,055,805 shares of the company’s stock valued at $132,620,000 after purchasing an additional 235,395 shares during the period. Russell Investments Group Ltd. lifted its stake in shares of Activision Blizzard by 26.7% in the 3rd quarter. Russell Investments Group Ltd. now owns 462,719 shares of the company’s stock valued at $29,842,000 after purchasing an additional 97,405 shares during the period. Finally, Advisors Asset Management Inc. lifted its stake in shares of Activision Blizzard by 22.7% in the 3rd quarter. Advisors Asset Management Inc. now owns 11,837 shares of the company’s stock valued at $764,000 after purchasing an additional 2,189 shares during the period. Institutional investors and hedge funds own 85.56% of the company’s stock.
Shares of Activision Blizzard, Inc. (ATVI) opened at $71.05 on Tuesday. The company has a market capitalization of $54,378.72, a price-to-earnings ratio of 197.36, a price-to-earnings-growth ratio of 1.91 and a beta of 1.10. Activision Blizzard, Inc. has a fifty-two week low of $47.80 and a fifty-two week high of $79.63. The company has a quick ratio of 1.77, a current ratio of 1.78 and a debt-to-equity ratio of 0.46.
Activision Blizzard (NASDAQ:ATVI) last posted its earnings results on Thursday, February 8th. The company reported $0.94 EPS for the quarter, topping the Zacks’ consensus estimate of $0.92 by $0.02. The business had revenue of $2.64 billion during the quarter, compared to analyst estimates of $2.55 billion. Activision Blizzard had a return on equity of 17.48% and a net margin of 3.89%. The company’s quarterly revenue was up 7.7% compared to the same quarter last year. During the same quarter last year, the company earned $0.65 EPS. sell-side analysts expect that Activision Blizzard, Inc. will post 2.57 earnings per share for the current year.
In related news, CEO Riccardo Zacconi sold 19,761 shares of Activision Blizzard stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $70.99, for a total value of $1,402,833.39. Following the completion of the sale, the chief executive officer now owns 34,398 shares of the company’s stock, valued at $2,441,914.02. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Robert J. Corti sold 88,000 shares of Activision Blizzard stock in a transaction on Friday, February 16th. The stock was sold at an average price of $69.88, for a total value of $6,149,440.00. Following the completion of the sale, the director now directly 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. Insiders sold 2,701,258 shares of company stock valued at $191,727,094 in the last ninety days. 2.12% of the stock is currently owned by corporate insiders.
A number of research analysts have issued reports on the company. Vetr cut Activision Blizzard from a “hold” rating to a “sell” rating and set a $61.27 price objective for the company. in a research note on Monday, November 20th. Sanford C. Bernstein assumed coverage on Activision Blizzard in a research note on Thursday, January 18th. They set a “market perform” rating and a $74.00 price objective for the company. Wedbush set a $81.00 price objective on Activision Blizzard and gave the company a “buy” rating in a research note on Friday, February 9th. Zacks Investment Research upgraded Activision Blizzard from a “hold” rating to a “buy” rating and set a $86.00 price objective for the company in a research note on Tuesday, March 13th. Finally, Credit Suisse Group lifted their price objective on Activision Blizzard from $81.00 to $83.00 and gave the company an “outperform” rating in a research note on Friday, February 9th. Five research analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $75.03.
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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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