Sumitomo Mitsui Trust Holdings Inc. decreased its position in shares of Activision Blizzard, Inc. (NASDAQ:ATVI) by 4.0% during the first quarter, Holdings Channel reports. The institutional investor owned 2,005,160 shares of the company’s stock after selling 83,018 shares during the period. Sumitomo Mitsui Trust Holdings Inc. owned about 0.27% of Activision Blizzard worth $99,977,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in ATVI. Physicians Financial Services Inc. increased its position in Activision Blizzard by 21.7% in the third quarter. Physicians Financial Services Inc. now owns 2,808 shares of the company’s stock worth $124,000 after buying an additional 500 shares in the last quarter. Synovus Financial Corp acquired a new position in Activision Blizzard during the third quarter worth $163,000. Advisory Services Network LLC acquired a new position in Activision Blizzard during the first quarter worth $214,000. Rehmann Capital Advisory Group acquired a new position in Activision Blizzard during the first quarter worth $218,000. Finally, Raymond James Trust N.A. acquired a new position in Activision Blizzard during the first quarter worth $235,000. Institutional investors and hedge funds own 86.29% of the company’s stock.
Activision Blizzard, Inc. (NASDAQ:ATVI) traded up 1.37% during trading on Friday, hitting $53.83. 10,514,098 shares of the stock were exchanged. Activision Blizzard, Inc. has a 52 week low of $35.12 and a 52 week high of $54.75. The firm has a 50-day moving average of $50.13 and a 200-day moving average of $43.29. The stock has a market capitalization of $40.47 billion, a price-to-earnings ratio of 42.05 and a beta of 1.03. Activision Blizzard also was the target of some unusual options trading activity on Wednesday. Stock traders bought 15,081 put options on the stock. This represents an increase of 544% compared to the typical daily volume of 2,342 put options.
Activision Blizzard (NASDAQ:ATVI) last released its quarterly earnings results on Thursday, May 4th. The company reported $0.27 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.16 by $0.11. Activision Blizzard had a net margin of 13.86% and a return on equity of 16.70%. The business had revenue of $1.20 billion for the quarter, compared to the consensus estimate of $1.09 billion. During the same period in the prior year, the company posted $0.23 earnings per share. Activision Blizzard’s revenue was up 31.7% compared to the same quarter last year. Equities research analysts anticipate that Activision Blizzard, Inc. will post $1.95 earnings per share for the current fiscal year.
A number of research analysts have recently weighed in on the stock. Stifel Nicolaus restated a “buy” rating and set a $59.00 price target (up previously from $53.00) on shares of Activision Blizzard in a report on Tuesday. Oppenheimer Holdings Inc. reiterated an “outperform” rating and issued a $60.00 target price (up from $53.00) on shares of Activision Blizzard in a research note on Friday. Vetr upgraded shares of Activision Blizzard from a “sell” rating to a “buy” rating and set a $59.23 target price on the stock in a research note on Tuesday. Wedbush reiterated an “outperform” rating and issued a $62.50 target price (up from $53.00) on shares of Activision Blizzard in a research note on Friday. Finally, Zacks Investment Research upgraded shares of Activision Blizzard from a “hold” rating to a “strong-buy” rating and set a $53.00 target price on the stock in a research note on Wednesday, February 15th. One analyst has rated the stock with a sell rating, three have issued a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $53.30.
In related news, Director Brian G. Kelly sold 420,063 shares of the company’s stock in a transaction dated Tuesday, March 28th. The shares were sold at an average price of $49.90, for a total value of $20,961,143.70. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Brian G. Kelly sold 5,037,998 shares of the company’s stock in a transaction dated Tuesday, February 14th. The shares were sold at an average price of $45.67, for a total transaction of $230,085,368.66. Following the completion of the transaction, the director now owns 559,850 shares in the company, valued at $25,568,349.50. The disclosure for this sale can be found here. Insiders sold 5,970,665 shares of company stock worth $274,351,641 over the last 90 days. 25.23% of the stock is currently owned by corporate insiders.
About Activision Blizzard
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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