Meridian Wealth Management LLC cut its position in Activision Blizzard, Inc. (NASDAQ:ATVI) by 5.0% during the second quarter, HoldingsChannel.com reports. The fund owned 4,365 shares of the company’s stock after selling 229 shares during the period. Meridian Wealth Management LLC’s holdings in Activision Blizzard were worth $206,000 at the end of the most recent reporting period.
Several other large investors have also recently modified their holdings of the company. Geode Capital Management LLC raised its stake 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 acquiring an additional 626,387 shares in the last quarter. Macquarie Group Ltd. raised its position in Activision Blizzard by 127.0% during the fourth quarter. Macquarie Group Ltd. now owns 186,238 shares of the company’s stock valued at $8,674,000 after acquiring an additional 104,194 shares in the last quarter. Advisory Services Network LLC raised its position in Activision Blizzard by 21.9% during the fourth quarter. Advisory Services Network LLC now owns 7,048 shares of the company’s stock valued at $328,000 after acquiring an additional 1,268 shares in the last quarter. Actinver Wealth Management Inc. purchased a new position in Activision Blizzard during the fourth quarter valued at approximately $328,000. Finally, Private Trust Co. NA raised its position in Activision Blizzard by 55.8% during the first quarter. Private Trust Co. NA now owns 14,657 shares of the company’s stock valued at $667,000 after acquiring an additional 5,247 shares in the last quarter. 86.58% of the stock is currently owned by hedge funds and other institutional investors.
In other Activision Blizzard news, insider Christopher B. Walther sold 11,333 shares of the business’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $47.91, for a total transaction of $542,964.03. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Christopher B. Walther sold 2,333 shares of Activision Blizzard stock in a transaction on Wednesday, June 5th. The shares were sold at an average price of $44.00, for a total value of $102,652.00. The disclosure for this sale can be found here. Insiders have sold 15,999 shares of company stock worth $752,724 in the last three months. 1.31% of the stock is currently owned by corporate insiders.
Activision Blizzard (NASDAQ:ATVI) last released its quarterly earnings data on Thursday, May 2nd. The company reported $0.31 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.18 by $0.13. The company had revenue of $1.26 billion for the quarter, compared to analyst estimates of $1.24 billion. Activision Blizzard had a return on equity of 16.19% and a net margin of 23.90%. The firm’s revenue for the quarter was down 8.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.38 earnings per share. Research analysts anticipate that Activision Blizzard, Inc. will post 1.98 earnings per share for the current year.
Several brokerages have commented on ATVI. Nomura lowered Korea Electric Power from a “buy” rating to a “neutral” rating in a report on Thursday, June 6th. Citigroup began coverage on UBISOFT ENTMT S/ADR in a report on Friday, June 7th. They issued a “buy” rating on the stock. William Blair reissued an “outperform” rating on shares of Activision Blizzard in a report on Friday, May 3rd. Jefferies Financial Group raised their price objective on Wynn Resorts from $160.00 to $165.00 and gave the company a “buy” rating in a report on Thursday, July 11th. Finally, KeyCorp reissued a “buy” rating and issued a $108.00 price objective (up from $102.00) on shares of Zendesk in a report on Tuesday. Thirteen research analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the company. The stock has a consensus 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.
See Also: Accumulation/Distribution
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