Ameriprise Financial Inc. reduced its position in Activision Blizzard, Inc. (NASDAQ:ATVI) by 11.5% during the first quarter, Holdings Channel reports. The fund owned 18,035,624 shares of the company’s stock after selling 2,345,921 shares during the period. Ameriprise Financial Inc.’s holdings in Activision Blizzard were worth $899,260,000 as of its most recent SEC filing.
Several other institutional investors also recently bought and sold shares of ATVI. Physicians Financial Services Inc. raised its stake in Activision Blizzard by 21.7% in the third quarter. Physicians Financial Services Inc. now owns 2,808 shares of the company’s stock valued at $124,000 after buying an additional 500 shares in the last quarter. Benjamin F. Edwards & Company Inc. raised its stake in Activision Blizzard by 504.6% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 3,023 shares of the company’s stock valued at $151,000 after buying an additional 2,523 shares in the last quarter. Synovus Financial Corp acquired a new stake in Activision Blizzard during the third quarter valued at about $163,000. Brown Advisory Inc. acquired a new stake in Activision Blizzard during the fourth quarter valued at about $210,000. Finally, Advisory Services Network LLC acquired a new stake in Activision Blizzard during the first quarter valued at about $214,000. 86.29% of the stock is owned by hedge funds and other institutional investors.
Activision Blizzard, Inc. (NASDAQ:ATVI) traded up 1.32% during mid-day trading on Friday, reaching $55.88. The company’s stock had a trading volume of 6,031,759 shares. The firm’s 50 day moving average is $51.75 and its 200-day moving average is $44.02. Activision Blizzard, Inc. has a one year low of $35.12 and a one year high of $57.30. The stock has a market cap of $42.11 billion, a P/E ratio of 41.00 and a beta of 1.03.
Activision Blizzard (NASDAQ:ATVI) last issued its earnings results on Thursday, May 4th. The company reported $0.27 EPS for the quarter, topping the Zacks’ consensus estimate of $0.16 by $0.11. The business had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.09 billion. Activision Blizzard had a net margin of 13.86% and a return on equity of 16.70%. The company’s quarterly revenue was up 31.7% compared to the same quarter last year. During the same period last year, the company posted $0.23 earnings per share. Equities analysts expect that Activision Blizzard, Inc. will post $1.99 earnings per share for the current fiscal year.
Several brokerages have issued reports on ATVI. Vetr lowered Activision Blizzard from a “strong-buy” rating to a “hold” rating and set a $47.83 price target for the company. in a research note on Monday, February 13th. Cowen and Company lifted their price target on Activision Blizzard from $51.00 to $59.00 and gave the stock an “outperform” rating in a research note on Monday. Robert W. Baird reaffirmed an “outperform” rating and set a $47.00 price target on shares of Activision Blizzard in a research note on Friday, February 10th. Jefferies Group LLC set a $55.00 price target on Activision Blizzard and gave the stock a “buy” rating in a research note on Thursday, March 16th. Finally, Barclays PLC reaffirmed an “overweight” rating and set a $48.00 price target (up previously from $44.00) on shares of Activision Blizzard in a research note on Thursday, February 16th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and seventeen have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $53.37.
In other news, CEO Riccardo Zacconi sold 19,761 shares of the firm’s stock in a transaction that occurred on Tuesday, February 21st. The shares were sold at an average price of $45.41, for a total transaction of $897,347.01. Following the transaction, the chief executive officer now directly owns 62,546 shares of the company’s stock, valued at $2,840,213.86. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Brian G. Kelly sold 420,063 shares of the firm’s stock in a transaction that occurred on Tuesday, March 28th. The stock was sold at an average price of $49.90, for a total transaction of $20,961,143.70. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 459,585 shares of company stock worth $22,954,238. Corporate insiders own 25.23% of the company’s stock.
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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