First Trust Advisors LP lowered its stake in shares of Activision Blizzard, Inc (NASDAQ:ATVI) by 4.9% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 861,757 shares of the company’s stock after selling 44,275 shares during the quarter. First Trust Advisors LP owned about 0.11% of Activision Blizzard worth $55,592,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Shine Investment Advisory Services Inc. purchased a new position in shares of Activision Blizzard during the second quarter worth about $142,000. Huntington National Bank grew its holdings in shares of Activision Blizzard by 122.6% during the second quarter. Huntington National Bank now owns 2,480 shares of the company’s stock worth $143,000 after buying an additional 1,366 shares during the last quarter. Bronfman E.L. Rothschild L.P. lifted its position in Activision Blizzard by 16.2% in the second quarter. Bronfman E.L. Rothschild L.P. now owns 2,606 shares of the company’s stock valued at $150,000 after purchasing an additional 363 shares during the period. Phocas Financial Corp. acquired a new stake in Activision Blizzard in the second quarter valued at about $173,000. Finally, BB&T Investment Services Inc. acquired a new stake in Activision Blizzard in the second quarter valued at about $189,000. 86.32% of the stock is currently owned by hedge funds and other institutional investors.
A number of brokerages recently commented on ATVI. Jefferies Group LLC raised their price objective on shares of Activision Blizzard from $80.00 to $82.00 and gave the company a “buy” rating in a research report on Friday, November 3rd. Piper Jaffray Companies restated an “overweight” rating and issued a $65.00 price objective on shares of Activision Blizzard in a research report on Tuesday, July 18th. Argus restated a “buy” rating and issued a $70.00 price objective (up previously from $65.00) on shares of Activision Blizzard in a research report on Wednesday, August 16th. BidaskClub downgraded shares of Activision Blizzard from a “buy” rating to a “hold” rating in a research report on Tuesday, July 25th. Finally, Bank of America Corporation upgraded shares of Activision Blizzard from a “neutral” rating to a “buy” rating and raised their price objective for the company from $65.00 to $76.00 in a research report on Friday, August 4th. Six research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $68.75.
Activision Blizzard, Inc (ATVI) traded down $0.31 during mid-day trading on Friday, reaching $63.00. 4,858,800 shares of the company’s stock traded hands, compared to its average volume of 6,884,357. The stock has a market cap of $47,634.30, a PE ratio of 28.64, a P/E/G ratio of 2.20 and a beta of 1.07. The company has a debt-to-equity ratio of 0.44, a current ratio of 2.25 and a quick ratio of 2.22. Activision Blizzard, Inc has a 12-month low of $35.12 and a 12-month high of $67.03.
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In other Activision Blizzard news, CEO Riccardo Zacconi sold 19,761 shares of Activision Blizzard stock in a transaction that occurred on Friday, August 18th. The shares were sold at an average price of $61.32, for a total value of $1,211,744.52. Following the completion of the sale, the chief executive officer now directly owns 48,472 shares of the company’s stock, valued at approximately $2,972,303.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.12% of the stock is currently owned by insiders.
Activision Blizzard Company Profile
Activision Blizzard, Inc is a developer and publisher of interactive entertainment content and services. The Company develops and distributes content and services across various gaming platforms, including video game consoles, personal computers (PC) and mobile devices. Its segments include Activision Publishing, Inc (Activision), Blizzard Entertainment, Inc (Blizzard), King Digital Entertainment (King) and Other.
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