Jennison Associates LLC lessened its stake in shares of Activision Blizzard, Inc. (NASDAQ:ATVI) by 72.7% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 3,853,104 shares of the company’s stock after selling 10,280,369 shares during the period. Jennison Associates LLC owned 0.50% of Activision Blizzard worth $175,432,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. HL Financial Services LLC grew its stake in shares of Activision Blizzard by 3.9% in the 1st quarter. HL Financial Services LLC now owns 5,746 shares of the company’s stock valued at $262,000 after buying an additional 216 shares during the period. Regentatlantic Capital LLC grew its stake in shares of Activision Blizzard by 4.5% in the 1st quarter. Regentatlantic Capital LLC now owns 5,971 shares of the company’s stock valued at $272,000 after buying an additional 257 shares during the period. Meiji Yasuda Asset Management Co Ltd. boosted its position in shares of Activision Blizzard by 1.2% during the 4th quarter. Meiji Yasuda Asset Management Co Ltd. now owns 22,179 shares of the company’s stock worth $1,033,000 after purchasing an additional 260 shares during the period. Lindbrook Capital LLC boosted its position in shares of Activision Blizzard by 33.9% during the 1st quarter. Lindbrook Capital LLC now owns 1,083 shares of the company’s stock worth $49,000 after purchasing an additional 274 shares during the period. Finally, Kaizen Advisory LLC boosted its position in shares of Activision Blizzard by 15.3% during the 4th quarter. Kaizen Advisory LLC now owns 2,163 shares of the company’s stock worth $101,000 after purchasing an additional 287 shares during the period. Hedge funds and other institutional investors own 86.84% of the company’s stock.
ATVI traded up $0.53 during midday trading on Wednesday, reaching $46.73. 4,928,532 shares of the company’s stock were exchanged, compared to its average volume of 10,312,061. The company has a quick ratio of 2.61, a current ratio of 2.63 and a debt-to-equity ratio of 0.23. The firm has a market cap of $35.80 billion, a PE ratio of 19.55, a PEG ratio of 2.33 and a beta of 0.89. The company’s 50-day moving average price is $44.91. Activision Blizzard, Inc. has a 1-year low of $39.85 and a 1-year high of $84.68.
Activision Blizzard (NASDAQ:ATVI) last announced 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. The company had revenue of $1.26 billion during the quarter, compared to analysts’ expectations of $1.24 billion. Activision Blizzard had a net margin of 23.90% and a return on equity of 16.19%. The firm’s quarterly revenue was down 8.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.38 earnings per share. Equities analysts predict that Activision Blizzard, Inc. will post 2 earnings per share for the current fiscal year.
In related news, insider Christopher B. Walther sold 2,333 shares of the business’s stock in a transaction that occurred on Wednesday, June 5th. The shares were sold at an average price of $44.00, for a total value of $102,652.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.31% of the stock is currently owned by insiders.
ATVI has been the subject of a number of research analyst reports. ValuEngine raised shares of Activision Blizzard from a “sell” rating to a “hold” rating in a research report on Friday, March 1st. Zacks Investment Research raised shares of Activision Blizzard from a “strong sell” rating to a “hold” rating in a research report on Friday, March 15th. BidaskClub upgraded shares of Activision Blizzard from a “sell” rating to a “hold” rating in a report on Wednesday, March 20th. Wedbush reiterated an “outperform” rating and set a $60.00 target price on shares of Activision Blizzard in a report on Monday, April 1st. Finally, Buckingham Research initiated coverage on shares of Activision Blizzard in a report on Friday, April 12th. They set a “neutral” rating on the stock. Fourteen research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $60.67.
About Activision Blizzard
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.
Read More: What is an SEC Filing?
Receive News & Ratings for Activision Blizzard Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Activision Blizzard and related companies with MarketBeat.com's FREE daily email newsletter.