Oppenheimer & Co. Inc. cut its position in Activision Blizzard, Inc. (NASDAQ:ATVI) by 22.7% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 42,187 shares of the company’s stock after selling 12,417 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Activision Blizzard were worth $1,921,000 at the end of the most recent quarter.
Several other hedge funds also recently added to or reduced their stakes in ATVI. Morgan Stanley lifted its stake in Activision Blizzard by 0.9% in the third quarter. Morgan Stanley now owns 22,245,576 shares of the company’s stock valued at $1,850,610,000 after acquiring an additional 197,024 shares during the last quarter. Northern Trust Corp lifted its stake in shares of Activision Blizzard by 1.5% in the fourth quarter. Northern Trust Corp now owns 9,247,358 shares of the company’s stock worth $430,649,000 after buying an additional 136,585 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Activision Blizzard by 7.4% in the fourth quarter. Geode Capital Management LLC now owns 9,116,102 shares of the company’s stock worth $423,741,000 after buying an additional 626,387 shares during the last quarter. Coatue Management LLC lifted its stake in shares of Activision Blizzard by 2.8% in the fourth quarter. Coatue Management LLC now owns 9,010,449 shares of the company’s stock worth $419,616,000 after buying an additional 245,074 shares during the last quarter. Finally, Norges Bank acquired a new stake in shares of Activision Blizzard in the fourth quarter worth $347,929,000. Institutional investors own 87.71% of the company’s stock.
In other news, insider Christopher B. Walther sold 2,333 shares of the firm’s stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $45.91, for a total transaction of $107,108.03. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Robert J. Morgado sold 15,000 shares of the firm’s stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $42.91, for a total value of $643,650.00. The disclosure for this sale can be found here. 1.29% of the stock is currently owned by corporate insiders.
Shares of NASDAQ:ATVI traded down $0.54 during mid-day trading on Wednesday, reaching $42.91. The stock had a trading volume of 6,912,449 shares, compared to its average volume of 11,197,437. The company has a market capitalization of $35.54 billion, a price-to-earnings ratio of 17.95, a P/E/G ratio of 2.30 and a beta of 0.83. The company has a debt-to-equity ratio of 0.23, a current ratio of 2.63 and a quick ratio of 2.61. Activision Blizzard, Inc. has a twelve month low of $39.85 and a twelve month high of $84.68.
Activision Blizzard (NASDAQ:ATVI) last posted its earnings results on Thursday, May 2nd. The company reported $0.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.18 by $0.13. Activision Blizzard had a return on equity of 16.19% and a net margin of 23.90%. The business had revenue of $1.26 billion during the quarter, compared to analysts’ expectations of $1.24 billion. During the same period in the prior year, the business earned $0.38 EPS. Activision Blizzard’s revenue for the quarter was down 8.7% compared to the same quarter last year. Equities research analysts expect that Activision Blizzard, Inc. will post 1.99 earnings per share for the current year.
Several equities analysts recently commented on the stock. Morgan Stanley boosted their price target on shares of Activision Blizzard from $60.00 to $72.00 and gave the company an “overweight” rating in a report on Thursday, January 24th. ValuEngine raised shares of Activision Blizzard from a “sell” rating to a “hold” rating in a report on Wednesday, May 1st. Wedbush set a $64.00 price target on shares of Activision Blizzard and gave the company an “outperform” rating in a report on Wednesday, January 23rd. Goldman Sachs Group started coverage on shares of Activision Blizzard in a report on Wednesday, January 30th. They issued a “neutral” rating and a $50.00 target price on the stock. Finally, Deutsche Bank started coverage on shares of Activision Blizzard in a report on Tuesday, January 22nd. They issued a “hold” rating and a $54.00 target price on the stock. Thirteen research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $61.43.
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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. It 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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