Alecta Pensionsforsakring Omsesidigt increased its holdings in Activision Blizzard, Inc. (NASDAQ:ATVI) by 4.0% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 5,150,000 shares of the company’s stock after buying an additional 200,000 shares during the period. Activision Blizzard comprises approximately 2.2% of Alecta Pensionsforsakring Omsesidigt’s holdings, making the stock its 17th biggest position. Alecta Pensionsforsakring Omsesidigt owned 0.67% of Activision Blizzard worth $272,486,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also bought and sold shares of ATVI. Fulton Bank N.A. boosted its stake in Activision Blizzard by 19.0% during the 2nd quarter. Fulton Bank N.A. now owns 20,136 shares of the company’s stock valued at $951,000 after purchasing an additional 3,208 shares during the period. Carroll Financial Associates Inc. boosted its stake in Activision Blizzard by 57.3% during the 2nd quarter. Carroll Financial Associates Inc. now owns 1,082 shares of the company’s stock valued at $51,000 after purchasing an additional 394 shares during the period. Retirement Systems of Alabama boosted its stake in Activision Blizzard by 0.4% during the 2nd quarter. Retirement Systems of Alabama now owns 357,226 shares of the company’s stock valued at $16,861,000 after purchasing an additional 1,552 shares during the period. Gulf International Bank UK Ltd boosted its stake in Activision Blizzard by 3.3% during the 2nd quarter. Gulf International Bank UK Ltd now owns 179,895 shares of the company’s stock valued at $8,491,000 after purchasing an additional 5,679 shares during the period. Finally, Sanders Morris Harris LLC acquired a new stake in shares of Activision Blizzard in the 2nd quarter worth approximately $1,505,000. 87.12% of the stock is owned by institutional investors and hedge funds.
In other news, insider Brian M. Stolz sold 134,845 shares of the business’s stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $47.80, for a total transaction of $6,445,591.00. Following the sale, the insider now owns 58,563 shares in the company, valued at $2,799,311.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Christopher B. Walther sold 5,333 shares of the business’s stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $50.34, for a total transaction of $268,463.22. The disclosure for this sale can be found here. Insiders have sold 150,844 shares of company stock worth $7,266,020 in the last 90 days. 1.31% of the stock is owned by company insiders.
Activision Blizzard (NASDAQ:ATVI) last released its earnings results on Thursday, August 8th. The company reported $0.34 EPS for the quarter, topping analysts’ consensus estimates of $0.20 by $0.14. Activision Blizzard had a net margin of 23.69% and a return on equity of 15.54%. The business had revenue of $1.21 billion for the quarter, compared to the consensus estimate of $1.19 billion. During the same period in the previous year, the firm earned $0.41 EPS. The business’s revenue for the quarter was down 12.9% on a year-over-year basis. On average, analysts anticipate that Activision Blizzard, Inc. will post 2 earnings per share for the current year.
A number of analysts have recently weighed in on the stock. Sanford C. Bernstein lowered shares of Activision Blizzard from a “market perform” rating to an “underperform” rating and upped their price target for the stock from $41.00 to $43.00 in a research note on Wednesday, October 2nd. Credit Suisse Group reduced their price target on shares of Activision Blizzard from $65.00 to $64.00 and set an “outperform” rating for the company in a research note on Thursday, August 8th. Ascendiant Capital Markets reaffirmed a “buy” rating and issued a $55.00 price target (up from $53.00) on shares of Activision Blizzard in a research note on Wednesday, August 14th. Citigroup upped their price target on shares of Activision Blizzard from $47.00 to $55.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 15th. They noted that the move was a valuation call. Finally, Wedbush reaffirmed an “outperform” rating and issued a $60.00 price target on shares of Activision Blizzard in a research note on Friday, August 9th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $59.45.
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.
Further Reading: Initial Coin Offerings entail a high degree of risk
Want to see what other hedge funds are holding ATVI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Activision Blizzard, Inc. (NASDAQ:ATVI).
Receive News & Ratings for Activision Blizzard Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Activision Blizzard and related companies with MarketBeat.com's FREE daily email newsletter.