Baird Financial Group Inc. raised its position in Activision Blizzard, Inc. (NASDAQ:ATVI) by 1.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 80,203 shares of the company’s stock after acquiring an additional 1,351 shares during the quarter. Baird Financial Group Inc.’s holdings in Activision Blizzard were worth $5,078,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently made changes to their positions in ATVI. Macquarie Group Ltd. lifted its stake in Activision Blizzard by 0.4% in the second quarter. Macquarie Group Ltd. now owns 12,345 shares of the company’s stock valued at $711,000 after acquiring an additional 45 shares during the last quarter. Boston Advisors LLC raised its position in shares of Activision Blizzard by 418.8% in the third quarter. Boston Advisors LLC now owns 40,230 shares of the company’s stock valued at $2,595,000 after purchasing an additional 32,475 shares during the period. TIAA FSB raised its position in shares of Activision Blizzard by 11.3% in the third quarter. TIAA FSB now owns 11,445 shares of the company’s stock valued at $738,000 after purchasing an additional 1,162 shares during the period. Aperio Group LLC raised its position in shares of Activision Blizzard by 8.5% in the third quarter. Aperio Group LLC now owns 228,451 shares of the company’s stock valued at $14,737,000 after purchasing an additional 17,890 shares during the period. Finally, Highstreet Asset Management Inc. raised its position in shares of Activision Blizzard by 23.6% in the third quarter. Highstreet Asset Management Inc. now owns 11,282 shares of the company’s stock valued at $728,000 after purchasing an additional 2,151 shares during the period. Hedge funds and other institutional investors own 86.06% of the company’s stock.
Several equities analysts have recently weighed in on the stock. Vetr raised shares of Activision Blizzard from a “buy” rating to a “strong-buy” rating and set a $80.56 price objective on the stock in a research report on Thursday, February 22nd. Wedbush set a $81.00 price objective on shares of Activision Blizzard and gave the company a “buy” rating in a research report on Friday, February 9th. Robert W. Baird increased their price objective on shares of Activision Blizzard from $75.00 to $80.00 and gave the company an “outperform” rating in a research report on Friday, February 9th. Hilliard Lyons raised shares of Activision Blizzard from an “underperform” rating to a “neutral” rating in a research report on Wednesday, November 8th. Finally, Barclays set a $70.00 price objective on shares of Activision Blizzard and gave the company a “hold” rating in a research report on Friday, February 9th. Six investment analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $73.25.
Activision Blizzard (NASDAQ:ATVI) last announced its quarterly earnings data on Thursday, February 8th. The company reported $0.94 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.92 by $0.02. The firm had revenue of $2.64 billion for the quarter, compared to the consensus estimate of $2.55 billion. Activision Blizzard had a net margin of 3.89% and a return on equity of 17.48%. The business’s revenue for the quarter was up 7.7% on a year-over-year basis. During the same period in the prior year, the company posted $0.65 earnings per share. analysts anticipate that Activision Blizzard, Inc. will post 2.57 EPS for the current year.
In other Activision Blizzard news, CEO Riccardo Zacconi sold 19,761 shares of the stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $70.99, for a total transaction of $1,402,833.39. Following the sale, the chief executive officer now directly owns 34,398 shares in the company, valued at $2,441,914.02. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Brian G. Kelly sold 1,700,000 shares of the stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $70.65, for a total transaction of $120,105,000.00. The disclosure for this sale can be found here. Insiders have sold 2,487,761 shares of company stock worth $175,937,273 over the last quarter. Corporate insiders own 2.12% of the company’s stock.
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Activision Blizzard 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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