QCI Asset Management Inc. NY raised its holdings in shares of Activision Blizzard, Inc. (NASDAQ:ATVI) by 1.3% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 199,659 shares of the company’s stock after purchasing an additional 2,609 shares during the quarter. Activision Blizzard accounts for approximately 1.6% of QCI Asset Management Inc. NY’s portfolio, making the stock its 29th largest position. QCI Asset Management Inc. NY’s holdings in Activision Blizzard were worth $16,610,000 at the end of the most recent quarter.
A number of other hedge funds have also made changes to their positions in the business. Xact Kapitalforvaltning AB grew its holdings in shares of Activision Blizzard by 3.8% in the 2nd quarter. Xact Kapitalforvaltning AB now owns 159,450 shares of the company’s stock worth $12,169,000 after acquiring an additional 5,888 shares during the period. Gofen & Glossberg LLC IL acquired a new stake in shares of Activision Blizzard in the 2nd quarter worth approximately $905,000. First Citizens Bank & Trust Co. acquired a new stake in shares of Activision Blizzard in the 2nd quarter worth approximately $1,700,000. Bremer Trust National Association acquired a new stake in shares of Activision Blizzard in the 2nd quarter worth approximately $258,000. Finally, Peregrine Capital Management LLC grew its holdings in shares of Activision Blizzard by 0.3% in the 2nd quarter. Peregrine Capital Management LLC now owns 243,301 shares of the company’s stock worth $18,569,000 after acquiring an additional 735 shares during the period. Institutional investors and hedge funds own 86.92% of the company’s stock.
In other Activision Blizzard news, CEO Riccardo Zacconi sold 19,761 shares of the stock in a transaction on Monday, August 20th. The stock was sold at an average price of $68.70, for a total transaction of $1,357,580.70. Following the transaction, the chief executive officer now owns 20,324 shares of the company’s stock, valued at approximately $1,396,258.80. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 1.29% of the company’s stock.
A number of equities research analysts recently weighed in on the company. Barclays upgraded Activision Blizzard from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $79.00 to $86.00 in a report on Monday, October 15th. MKM Partners lowered their price target on Activision Blizzard to $71.00 and set a “neutral” rating on the stock in a report on Tuesday, October 30th. Bank of America lowered their price target on Activision Blizzard from $77.00 to $68.00 and set a “neutral” rating on the stock in a report on Friday. Zacks Investment Research cut Activision Blizzard from a “buy” rating to a “hold” rating in a report on Wednesday, August 8th. Finally, Piper Jaffray Companies increased their target price on Activision Blizzard to $84.00 and gave the company an “overweight” rating in a report on Wednesday, July 25th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the company. Activision Blizzard has an average rating of “Buy” and an average price target of $77.62.
Shares of NASDAQ:ATVI opened at $55.01 on Friday. Activision Blizzard, Inc. has a one year low of $53.50 and a one year high of $84.68. The firm has a market cap of $49.63 billion, a price-to-earnings ratio of 26.83, a P/E/G ratio of 1.73 and a beta of 1.11. The company has a debt-to-equity ratio of 0.42, a quick ratio of 2.96 and a current ratio of 2.98.
Activision Blizzard (NASDAQ:ATVI) last issued its quarterly earnings results on Thursday, November 8th. The company reported $0.47 earnings per share for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.03). Activision Blizzard had a return on equity of 16.39% and a net margin of 6.96%. The business had revenue of $1.66 billion for the quarter, compared to analysts’ expectations of $1.66 billion. During the same period in the prior year, the company earned $0.25 EPS. The company’s revenue for the quarter was down 12.6% compared to the same quarter last year. As a group, equities research analysts forecast that Activision Blizzard, Inc. will post 2.49 earnings per share for the current year.
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Activision Blizzard 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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