Quadrant Capital Group LLC decreased its position in Activision Blizzard, Inc. (NASDAQ:ATVI) by 14.5% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 7,325 shares of the company’s stock after selling 1,238 shares during the quarter. Quadrant Capital Group LLC’s holdings in Activision Blizzard were worth $330,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Geode Capital Management LLC lifted its holdings in shares of Activision Blizzard by 7.4% during the fourth quarter. Geode Capital Management LLC now owns 9,116,102 shares of the company’s stock worth $423,741,000 after buying an additional 626,387 shares during the last quarter. Swedbank lifted its holdings in shares of Activision Blizzard by 21.5% during the first quarter. Swedbank now owns 6,007,179 shares of the company’s stock worth $273,507,000 after buying an additional 1,063,547 shares during the last quarter. Artisan Partners Limited Partnership lifted its holdings in shares of Activision Blizzard by 4.6% during the first quarter. Artisan Partners Limited Partnership now owns 5,063,920 shares of the company’s stock worth $230,560,000 after buying an additional 222,722 shares during the last quarter. Alecta Pensionsforsakring Omsesidigt lifted its holdings in shares of Activision Blizzard by 7.1% during the first quarter. Alecta Pensionsforsakring Omsesidigt now owns 4,500,000 shares of the company’s stock worth $204,930,000 after buying an additional 300,000 shares during the last quarter. Finally, DNB Asset Management AS lifted its holdings in shares of Activision Blizzard by 98.7% during the first quarter. DNB Asset Management AS now owns 2,472,661 shares of the company’s stock worth $112,580,000 after buying an additional 1,228,348 shares during the last quarter. 86.58% of the stock is owned by institutional investors and hedge funds.
In other Activision Blizzard news, insider Christopher B. Walther sold 2,333 shares of the stock in a transaction dated Wednesday, June 5th. The stock was sold at an average price of $44.00, for a total value of $102,652.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Christopher B. Walther sold 11,333 shares of the stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $47.91, for a total value of $542,964.03. The disclosure for this sale can be found here. Insiders sold 15,999 shares of company stock worth $752,724 in the last three months. Insiders own 1.31% of the company’s stock.
Activision Blizzard (NASDAQ:ATVI) last announced its earnings results on Thursday, May 2nd. The company reported $0.31 EPS for the quarter, topping the consensus estimate of $0.18 by $0.13. Activision Blizzard had a return on equity of 16.19% and a net margin of 23.90%. The company had revenue of $1.26 billion for the quarter, compared to analysts’ expectations of $1.24 billion. During the same quarter in the prior year, the business earned $0.38 earnings per share. The business’s revenue for the quarter was down 8.7% on a year-over-year basis. As a group, equities research analysts predict that Activision Blizzard, Inc. will post 1.98 earnings per share for the current year.
ATVI has been the subject of a number of research analyst reports. Bank of America upgraded Activision Blizzard from a “neutral” rating to a “buy” rating and upped their price target for the stock from $54.00 to $56.00 in a report on Thursday, July 25th. Piper Jaffray Companies reiterated an “overweight” rating on shares of Activision Blizzard in a report on Monday, April 22nd. Stephens lowered Activision Blizzard from an “overweight” rating to an “equal weight” rating and cut their price target for the stock from $57.00 to $52.00 in a report on Wednesday, May 22nd. Jefferies Financial Group initiated coverage on Activision Blizzard in a report on Thursday, July 11th. They set a “buy” rating and a $56.00 price target for the company. Finally, Buckingham Research initiated coverage on Activision Blizzard in a report on Friday, April 12th. They set a “neutral” rating for the company. Eleven research analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $60.20.
About Activision Blizzard
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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