Principal Financial Group Inc. Increases Stake in Activision Blizzard, Inc. (NASDAQ:ATVI)

Principal Financial Group Inc. increased its holdings in shares of Activision Blizzard, Inc. (NASDAQ:ATVI) by 13.6% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 2,526,920 shares of the company’s stock after purchasing an additional 303,069 shares during the quarter. Principal Financial Group Inc. owned 0.32% of Activision Blizzard worth $241,170,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also bought and sold shares of the company. Allred Capital Management LLC acquired a new stake in Activision Blizzard during the 1st quarter worth approximately $25,000. Burleson & Company LLC acquired a new stake in Activision Blizzard during the 1st quarter worth approximately $25,000. SRS Capital Advisors Inc. acquired a new stake in Activision Blizzard during the 2nd quarter worth approximately $25,000. Pflug Koory LLC acquired a new stake in Activision Blizzard during the 2nd quarter worth approximately $29,000. Finally, KB Financial Partners LLC acquired a new stake in Activision Blizzard during the 1st quarter worth approximately $30,000. 85.19% of the stock is owned by hedge funds and other institutional investors.

ATVI has been the subject of several recent research reports. Moffett Nathanson initiated coverage on shares of Activision Blizzard in a research report on Thursday, June 24th. They issued a “buy” rating and a $124.00 price objective for the company. Truist lowered their price objective on shares of Activision Blizzard from $112.00 to $101.00 and set a “buy” rating for the company in a research report on Monday, August 16th. Barclays lowered their price objective on shares of Activision Blizzard from $116.00 to $107.00 and set an “overweight” rating for the company in a research report on Wednesday, August 4th. They noted that the move was a valuation call. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Activision Blizzard from $118.00 to $115.00 and set a “buy” rating for the company in a research report on Wednesday, July 21st. Finally, MKM Partners lowered their price objective on shares of Activision Blizzard from $120.00 to $108.00 and set a “buy” rating for the company in a research report on Wednesday, August 4th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and twenty have issued a buy rating to the stock. According to MarketBeat.com, Activision Blizzard presently has an average rating of “Buy” and an average price target of $111.91.

In other news, Director Peter J. Nolan bought 3,950 shares of the stock in a transaction that occurred on Monday, August 9th. The shares were purchased at an average cost of $81.93 per share, with a total value of $323,623.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.77% of the stock is owned by insiders.

Shares of ATVI opened at $77.80 on Wednesday. The firm has a market capitalization of $60.51 billion, a price-to-earnings ratio of 23.31, a price-to-earnings-growth ratio of 1.48 and a beta of 0.59. The company has a debt-to-equity ratio of 0.22, a quick ratio of 4.83 and a current ratio of 4.83. Activision Blizzard, Inc. has a one year low of $71.19 and a one year high of $104.53. The stock’s fifty day moving average is $84.64 and its 200-day moving average is $90.82.

Activision Blizzard (NASDAQ:ATVI) last released its earnings results on Monday, August 2nd. The company reported $0.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.76 by $0.15. The firm had revenue of $1.92 billion for the quarter, compared to analyst estimates of $1.89 billion. Activision Blizzard had a return on equity of 17.05% and a net margin of 29.17%. Analysts forecast that Activision Blizzard, Inc. will post 3.47 EPS for the current fiscal year.

Activision Blizzard Profile

Activision Blizzard, Inc engages in the development and publication of interactive entertainment. It operates through the following segments: Activision Publishing, Blizzard Entertainment and King Digital Entertainment. The Activision Publishing segment develops and publishes interactive software products and entertainment content, particularly for the console platform.

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

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