Thornburg Investment Management Inc. trimmed its position in shares of Activision Blizzard, Inc. (NASDAQ:ATVI) by 0.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 550,686 shares of the company’s stock after selling 3,859 shares during the quarter. Thornburg Investment Management Inc. owned 0.07% of Activision Blizzard worth $45,812,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors and hedge funds have also recently bought and sold shares of ATVI. BlackRock Inc. raised its stake in shares of Activision Blizzard by 0.4% during the 2nd quarter. BlackRock Inc. now owns 51,100,165 shares of the company’s stock worth $3,899,967,000 after purchasing an additional 209,193 shares during the period. Bank of New York Mellon Corp raised its stake in shares of Activision Blizzard by 3.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 7,884,115 shares of the company’s stock worth $601,716,000 after purchasing an additional 241,423 shares during the period. Egerton Capital UK LLP raised its stake in shares of Activision Blizzard by 29.1% during the 2nd quarter. Egerton Capital UK LLP now owns 7,286,230 shares of the company’s stock worth $556,085,000 after purchasing an additional 1,642,285 shares during the period. Massachusetts Financial Services Co. MA raised its stake in shares of Activision Blizzard by 5.8% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 7,151,670 shares of the company’s stock worth $545,816,000 after purchasing an additional 389,194 shares during the period. Finally, Swedbank raised its stake in shares of Activision Blizzard by 6.5% during the 3rd quarter. Swedbank now owns 4,028,926 shares of the company’s stock worth $335,166,000 after purchasing an additional 246,868 shares during the period. 86.92% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Activision Blizzard stock opened at $65.67 on Tuesday. Activision Blizzard, Inc. has a 52-week low of $57.29 and a 52-week high of $84.68. The stock has a market capitalization of $52.60 billion, a P/E ratio of 32.03, a PEG ratio of 1.84 and a beta of 1.11. The company has a current ratio of 2.98, a quick ratio of 2.96 and a debt-to-equity ratio of 0.42.
A number of equities research analysts have recently commented on the company. KeyCorp lowered their target price on Activision Blizzard from $90.00 to $85.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 31st. BidaskClub cut Activision Blizzard from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, July 25th. Stifel Nicolaus lowered their target price on Activision Blizzard from $82.00 to $78.00 and set a “buy” rating on the stock in a research note on Wednesday, October 31st. ValuEngine cut Activision Blizzard from a “buy” rating to a “hold” rating in a research note on Tuesday, October 30th. Finally, Wedbush reiterated an “outperform” rating and set a $100.00 target price on shares of Activision Blizzard in a research note on Monday. Nine investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $82.75.
In related news, CEO Riccardo Zacconi sold 19,761 shares of the business’s stock in a transaction dated Monday, August 20th. The stock was sold at an average price of $68.70, for a total value of $1,357,580.70. Following the sale, 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 Securities & Exchange Commission, which is available at this hyperlink. Insiders own 1.29% of the company’s stock.
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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. 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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