ICICI Prudential Asset Management Co Ltd lifted its holdings in shares of Activision Blizzard, Inc. (NASDAQ:ATVI – Get Rating) by 16.5% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,240 shares of the company’s stock after purchasing an additional 318 shares during the quarter. ICICI Prudential Asset Management Co Ltd’s holdings in Activision Blizzard were worth $180,000 as of its most recent SEC filing.
Several other hedge funds have also made changes to their positions in ATVI. Confluence Wealth Services Inc. acquired a new position in Activision Blizzard in the fourth quarter valued at $25,000. Dixon Hughes Goodman Wealth Advisors LLC acquired a new position in Activision Blizzard in the fourth quarter valued at $33,000. Curi Wealth Management LLC acquired a new position in Activision Blizzard in the fourth quarter valued at $33,000. James Investment Research Inc. acquired a new position in Activision Blizzard in the first quarter valued at $37,000. Finally, Professional Financial Advisors LLC acquired a new position in Activision Blizzard in the first quarter valued at $38,000. Institutional investors and hedge funds own 83.11% of the company’s stock.
Analyst Ratings Changes
Several research firms have commented on ATVI. Moffett Nathanson raised Activision Blizzard from a “neutral” rating to a “buy” rating and set a $95.00 price objective on the stock in a research report on Wednesday. Jefferies Financial Group reissued a “buy” rating and issued a $95.00 price objective on shares of Activision Blizzard in a research report on Wednesday, April 27th. Finally, Deutsche Bank Aktiengesellschaft cut their price objective on Activision Blizzard from $95.00 to $84.00 in a research report on Thursday. Eighteen analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, Activision Blizzard currently has an average rating of “Hold” and an average price target of $94.73.
Activision Blizzard Stock Performance
Activision Blizzard (NASDAQ:ATVI – Get Rating) last issued its quarterly earnings data on Monday, August 1st. The company reported $0.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.38 by $0.09. The business had revenue of $1.64 billion during the quarter, compared to the consensus estimate of $1.57 billion. Activision Blizzard had a return on equity of 10.22% and a net margin of 24.57%. The business’s revenue was down 14.6% on a year-over-year basis. During the same period in the previous year, the firm posted $0.86 earnings per share. On average, equities research analysts forecast that Activision Blizzard, Inc. will post 2.42 EPS for the current year.
Insider Transactions at Activision Blizzard
In other Activision Blizzard news, CFO Armin Zerza sold 10,174 shares of the company’s stock in a transaction that occurred on Wednesday, August 3rd. The stock was sold at an average price of $80.22, for a total value of $816,158.28. Following the completion of the sale, the chief financial officer now directly owns 186,117 shares in the company, valued at $14,930,305.74. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.77% of the company’s stock.
Activision Blizzard Profile
Activision Blizzard, Inc, together with its subsidiaries, develops and publishes interactive entertainment content and services in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company operates through three segments: Activision, Blizzard, and King. It develops and distributes content and services on video game consoles, personal computers, and mobile devices, including subscription, full-game, and in-game sales, as well as by licensing software to third-party or related-party companies that distribute Activision and Blizzard products.
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