Meiji Yasuda Asset Management Co Ltd. cut its stake in shares of Activision Blizzard, Inc. (NASDAQ:ATVI) by 31.2% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 15,259 shares of the company’s stock after selling 6,920 shares during the quarter. Meiji Yasuda Asset Management Co Ltd.’s holdings in Activision Blizzard were worth $695,000 at the end of the most recent reporting period.
A number of other hedge funds have also bought and sold shares of ATVI. Acorn Advisory Capital L.P. purchased a new stake in Activision Blizzard in the first quarter worth $724,000. Trexquant Investment LP acquired a new stake in shares of Activision Blizzard in the first quarter worth approximately $1,477,000. Lazard Asset Management LLC boosted its stake in shares of Activision Blizzard by 543.4% in the first quarter. Lazard Asset Management LLC now owns 2,116,010 shares of the company’s stock worth $96,341,000 after acquiring an additional 1,787,120 shares during the last quarter. Wealthcare Advisory Partners LLC boosted its stake in Activision Blizzard by 83.0% during the first quarter. Wealthcare Advisory Partners LLC now owns 1,885 shares of the company’s stock worth $86,000 after buying an additional 855 shares during the last quarter. Finally, Ascent Wealth Partners LLC raised its position in Activision Blizzard by 19.3% in the first quarter. Ascent Wealth Partners LLC now owns 12,026 shares of the company’s stock valued at $547,000 after purchasing an additional 1,945 shares during the period. Institutional investors and hedge funds own 86.93% of the company’s stock.
A number of brokerages recently issued reports on ATVI. Citigroup started coverage on Activision Blizzard in a research report on Friday, June 7th. They issued a “neutral” rating and a $47.00 target price for the company. Nomura began coverage on Activision Blizzard in a research note on Thursday, June 6th. They issued a “neutral” rating and a $49.00 price target for the company. Goldman Sachs Group raised Activision Blizzard from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $50.00 to $54.00 in a report on Tuesday, May 28th. Stephens cut Activision Blizzard from an “overweight” rating to an “equal weight” rating and dropped their price target for the company from $57.00 to $52.00 in a report on Wednesday, May 22nd. Finally, BidaskClub cut shares of Activision Blizzard from a “buy” rating to a “hold” rating in a report on Wednesday, May 22nd. Fourteen investment analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company’s stock. Activision Blizzard presently has a consensus rating of “Buy” and a consensus target price of $60.67.
In other Activision Blizzard news, insider Christopher B. Walther sold 2,333 shares of Activision Blizzard stock in a transaction that occurred on Wednesday, June 5th. The stock was sold at an average price of $44.00, for a total value of $102,652.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.29% of the stock is currently owned by company insiders.
Shares of ATVI stock opened at $45.42 on Friday. The company has a market cap of $35.27 billion, a PE ratio of 19.00, a price-to-earnings-growth ratio of 2.23 and a beta of 0.89. Activision Blizzard, Inc. has a 12-month low of $39.85 and a 12-month high of $84.68. The company has a quick ratio of 2.61, a current ratio of 2.63 and a debt-to-equity ratio of 0.23.
Activision Blizzard (NASDAQ:ATVI) last posted its quarterly earnings data on Thursday, May 2nd. The company reported $0.31 earnings per share (EPS) for the quarter, topping the consensus estimate 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 for the quarter, compared to analysts’ expectations of $1.24 billion. During the same quarter last year, the firm earned $0.38 earnings per share. The business’s revenue was down 8.7% on a year-over-year basis. On average, equities research analysts expect that Activision Blizzard, Inc. will post 2 earnings per share for the current year.
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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.
Further Reading: Cost of Capital
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