Sun Life Financial INC decreased its position in shares of Activision Blizzard, Inc. (NASDAQ:ATVI) by 51.8% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 626 shares of the company’s stock after selling 674 shares during the period. Sun Life Financial INC’s holdings in Activision Blizzard were worth $30,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Trexquant Investment LP bought a new stake in Activision Blizzard during the 1st quarter worth approximately $1,477,000. Arizona State Retirement System raised its stake in Activision Blizzard by 61.5% during the 2nd quarter. Arizona State Retirement System now owns 236,887 shares of the company’s stock worth $11,181,000 after acquiring an additional 90,217 shares during the period. CWM LLC raised its position in shares of Activision Blizzard by 1.1% during the second quarter. CWM LLC now owns 58,576 shares of the company’s stock valued at $2,765,000 after buying an additional 661 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised its position in shares of Activision Blizzard by 32.4% during the first quarter. Northwestern Mutual Wealth Management Co. now owns 99,750 shares of the company’s stock valued at $4,541,000 after buying an additional 24,385 shares during the last quarter. Finally, South Dakota Investment Council raised its position in shares of Activision Blizzard by 44.6% during the first quarter. South Dakota Investment Council now owns 13,300 shares of the company’s stock valued at $606,000 after buying an additional 4,100 shares during the last quarter. Institutional investors own 85.72% of the company’s stock.
Several research firms have recently issued reports on ATVI. Zacks Investment Research upgraded shares of Activision Blizzard from a “sell” rating to a “hold” rating in a research report on Thursday, May 9th. MKM Partners reiterated a “neutral” rating and set a $47.00 price objective (up previously from $45.00) on shares of Activision Blizzard in a research report on Friday, August 9th. Nomura began coverage on shares of Activision Blizzard in a research report on Thursday, June 6th. They set a “neutral” rating and a $49.00 price objective on the stock. KeyCorp reiterated an “overweight” rating and set a $60.00 price objective on shares of Activision Blizzard in a research report on Tuesday, July 30th. Finally, SunTrust Banks lifted their price objective on shares of Activision Blizzard from $52.00 to $56.00 and gave the company a “buy” rating in a research report on Monday, August 12th. Eleven research analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company’s stock. Activision Blizzard presently has a consensus rating of “Buy” and a consensus target price of $59.68.
NASDAQ ATVI traded down $0.36 on Friday, hitting $50.60. 3,859,222 shares of the stock were exchanged, compared to its average volume of 7,547,059. The company has a debt-to-equity ratio of 0.22, a quick ratio of 3.43 and a current ratio of 3.46. The stock has a fifty day moving average price of $47.67 and a two-hundred day moving average price of $45.92. The firm has a market capitalization of $39.09 billion, a P/E ratio of 21.17, a P/E/G ratio of 2.02 and a beta of 0.90. Activision Blizzard, Inc. has a 52-week low of $39.85 and a 52-week high of $84.68.
Activision Blizzard (NASDAQ:ATVI) last posted its quarterly earnings data on Thursday, August 8th. The company reported $0.34 EPS for the quarter, topping the consensus estimate of $0.20 by $0.14. The company had revenue of $1.21 billion during the quarter, compared to analyst estimates of $1.19 billion. Activision Blizzard had a net margin of 23.69% and a return on equity of 15.54%. Activision Blizzard’s quarterly revenue was down 12.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.41 earnings per share. Sell-side analysts expect that Activision Blizzard, Inc. will post 2 earnings per share for the current fiscal year.
Activision Blizzard Profile
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.
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