Financial Counselors Inc. boosted its holdings in shares of Activision Blizzard, Inc. (NASDAQ:ATVI) by 59.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 36,519 shares of the company’s stock after acquiring an additional 13,681 shares during the period. Financial Counselors Inc.’s holdings in Activision Blizzard were worth $3,038,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Altman Advisors Inc. purchased a new stake in Activision Blizzard during the 2nd quarter valued at about $323,000. Asset Advisors Investment Management LLC purchased a new stake in Activision Blizzard during the 3rd quarter valued at about $100,000. Ashburton Jersey Ltd purchased a new stake in shares of Activision Blizzard in the 2nd quarter valued at approximately $107,000. Quad Cities Investment Group LLC purchased a new stake in shares of Activision Blizzard in the 2nd quarter valued at approximately $114,000. Finally, NuWave Investment Management LLC purchased a new stake in shares of Activision Blizzard in the 2nd quarter valued at approximately $121,000. 86.99% of the stock is owned by institutional investors.
Shares of ATVI stock opened at $69.32 on Friday. The company has a current ratio of 2.98, a quick ratio of 2.96 and a debt-to-equity ratio of 0.42. Activision Blizzard, Inc. has a one year low of $57.29 and a one year high of $84.68. The company has a market capitalization of $51.45 billion, a PE ratio of 31.68, a P/E/G ratio of 1.80 and a beta of 0.86.
Activision Blizzard (NASDAQ:ATVI) last issued its quarterly earnings data on Thursday, August 2nd. The company reported $0.41 EPS for the quarter, topping the consensus estimate of $0.30 by $0.11. Activision Blizzard had a net margin of 6.96% and a return on equity of 16.39%. The firm had revenue of $1.39 billion for the quarter, compared to analyst estimates of $1.38 billion. During the same period in the prior year, the business posted $0.32 EPS. The business’s revenue for the quarter was down 2.3% compared to the same quarter last year. Equities analysts expect that Activision Blizzard, Inc. will post 2.49 earnings per share for the current year.
In other news, CEO Riccardo Zacconi sold 19,761 shares of the company’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 directly owns 20,324 shares in the company, valued at approximately $1,396,258.80. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 1.29% of the company’s stock.
Several analysts have recently weighed in on ATVI shares. BidaskClub cut shares of Activision Blizzard from a “hold” rating to a “sell” rating in a research note on Thursday, September 6th. BTIG Research increased their price target on shares of Activision Blizzard from $80.00 to $88.00 and gave the company a “buy” rating in a research note on Tuesday, October 16th. Argus reissued a “buy” rating and issued a $90.00 price target (up previously from $81.00) on shares of Activision Blizzard in a research note on Friday, September 21st. SunTrust Banks set a $85.00 price target on shares of Activision Blizzard and gave the company a “buy” rating in a research note on Wednesday, October 17th. Finally, Zacks Investment Research cut shares of Activision Blizzard from a “buy” rating to a “hold” rating in a research note on Wednesday, August 8th. Ten research analysts have rated the stock with a hold rating, seventeen have given 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 $81.53.
Activision Blizzard Company Profile
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.
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