Activision Blizzard, Inc. (ATVI) Stake Increased by Abner Herrman & Brock LLC

Abner Herrman & Brock LLC boosted its stake in Activision Blizzard, Inc. (NASDAQ:ATVI) by 8.2% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 78,225 shares of the company’s stock after buying an additional 5,920 shares during the period. Abner Herrman & Brock LLC’s holdings in Activision Blizzard were worth $3,900,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Checchi Capital Advisers LLC boosted its stake in Activision Blizzard by 0.5% in the third quarter. Checchi Capital Advisers LLC now owns 8,574 shares of the company’s stock valued at $380,000 after buying an additional 39 shares during the period. 1ST Source Bank boosted its stake in Activision Blizzard by 1.0% in the third quarter. 1ST Source Bank now owns 11,156 shares of the company’s stock valued at $494,000 after buying an additional 113 shares during the period. Quadrant Capital Group LLC boosted its stake in shares of Activision Blizzard by 2.1% in the first quarter. Quadrant Capital Group LLC now owns 6,750 shares of the company’s stock valued at $327,000 after buying an additional 138 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its stake in shares of Activision Blizzard by 0.6% in the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 39,196 shares of the company’s stock valued at $1,415,000 after buying an additional 236 shares during the period. Finally, Conning Inc. boosted its stake in shares of Activision Blizzard by 2.4% in the third quarter. Conning Inc. now owns 11,440 shares of the company’s stock valued at $507,000 after buying an additional 270 shares during the period. Institutional investors own 86.29% of the company’s stock.

Institutional Ownership by Quarter for Activision Blizzard (NASDAQ:ATVI)

Shares of Activision Blizzard, Inc. (NASDAQ:ATVI) traded down 0.16% during midday trading on Friday, hitting $49.87. 3,349,574 shares of the stock were exchanged. The stock’s 50-day moving average price is $48.99 and its 200 day moving average price is $42.62. Activision Blizzard, Inc. has a one year low of $33.55 and a one year high of $50.40. The stock has a market cap of $37.49 billion, a P/E ratio of 38.96 and a beta of 1.03.

Activision Blizzard (NASDAQ:ATVI) last announced its quarterly earnings results on Thursday, February 9th. The company reported $0.86 EPS for the quarter, beating the consensus estimate of $0.73 by $0.13. Activision Blizzard had a return on equity of 16.70% and a net margin of 13.86%. The company had revenue of $2.45 billion for the quarter, compared to the consensus estimate of $2.39 billion. During the same quarter last year, the company posted $0.83 earnings per share. The company’s revenue for the quarter was up 81.2% compared to the same quarter last year. On average, analysts anticipate that Activision Blizzard, Inc. will post $1.95 earnings per share for the current year.

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Several analysts recently commented on the stock. Jefferies Group LLC reiterated a “buy” rating and issued a $55.00 price objective on shares of Activision Blizzard in a research note on Tuesday. Vetr upgraded shares of Activision Blizzard from a “hold” rating to a “buy” rating and set a $50.88 price objective for the company in a research note on Monday. Robert W. Baird reiterated an “outperform” rating and issued a $47.00 price objective on shares of Activision Blizzard in a research note on Sunday, April 2nd. Morgan Stanley raised their price objective on shares of Activision Blizzard from $54.00 to $55.00 and gave the company an “overweight” rating in a research note on Monday, March 27th. Finally, Macquarie reiterated an “outperform” rating and issued a $48.00 price objective on shares of Activision Blizzard in a research note on Wednesday, March 22nd. One research analyst has rated the stock with a sell rating, three have issued a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company. Activision Blizzard has an average rating of “Buy” and a consensus target price of $49.64.

In other Activision Blizzard news, Director Robert J. Morgado sold 242,843 shares of the stock in a transaction that occurred on Monday, February 13th. The stock was sold at an average price of $45.72, for a total transaction of $11,102,781.96. Following the transaction, the director now owns 279,783 shares in the company, valued at $12,791,678.76. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Michael Morhaime sold 250,000 shares of the stock in a transaction that occurred on Friday, February 17th. The shares were sold at an average price of $45.22, for a total value of $11,305,000.00. Following the transaction, the chief executive officer now owns 189,999 shares in the company, valued at approximately $8,591,754.78. The disclosure for this sale can be found here. In the last quarter, insiders have sold 5,970,665 shares of company stock worth $274,351,641. Corporate insiders own 25.23% of the company’s stock.

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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