Russell Investments Group Ltd. trimmed its holdings in Activision Blizzard, Inc. (NASDAQ:ATVI) by 17.5% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 222,514 shares of the company’s stock after selling 47,150 shares during the period. Russell Investments Group Ltd.’s holdings in Activision Blizzard were worth $11,751,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors have also added to or reduced their stakes in the stock. Vanguard Group Inc. grew its position in shares of Activision Blizzard by 1.1% during the 2nd quarter. Vanguard Group Inc. now owns 57,097,169 shares of the company’s stock valued at $2,694,986,000 after purchasing an additional 599,719 shares in the last quarter. BlackRock Inc. grew its position in shares of Activision Blizzard by 3.4% during the 2nd quarter. BlackRock Inc. now owns 48,425,839 shares of the company’s stock valued at $2,285,699,000 after purchasing an additional 1,613,122 shares in the last quarter. Invesco Ltd. grew its position in shares of Activision Blizzard by 7.1% during the 2nd quarter. Invesco Ltd. now owns 19,334,866 shares of the company’s stock valued at $912,605,000 after purchasing an additional 1,289,300 shares in the last quarter. Northern Trust Corp grew its position in Activision Blizzard by 2.9% in the second quarter. Northern Trust Corp now owns 9,522,155 shares of the company’s stock worth $449,447,000 after acquiring an additional 270,465 shares in the last quarter. Finally, Nuveen Asset Management LLC purchased a new position in Activision Blizzard in the second quarter worth $422,191,000. Institutional investors and hedge funds own 87.33% of the company’s stock.
ATVI has been the subject of several research reports. Piper Jaffray Companies set a $62.00 target price on shares of Activision Blizzard and gave the stock a “buy” rating in a research report on Friday, October 25th. Zacks Investment Research lowered shares of Activision Blizzard from a “buy” rating to a “hold” rating and set a $60.00 target price for the company. in a research report on Tuesday. UBS Group reiterated a “buy” rating and issued a $66.00 target price (up from $56.00) on shares of Activision Blizzard in a research report on Wednesday. ValuEngine lowered shares of Activision Blizzard from a “strong-buy” rating to a “buy” rating in a research report on Friday, November 8th. Finally, TheStreet upgraded shares of Activision Blizzard from a “c+” rating to a “b-” rating in a research report on Tuesday, August 13th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and twenty-three have issued a buy rating to the company. Activision Blizzard presently has a consensus rating of “Buy” and a consensus target price of $60.30.
Activision Blizzard (NASDAQ:ATVI) last posted its quarterly earnings results on Thursday, November 7th. The company reported $0.32 earnings per share for the quarter, topping the consensus estimate of $0.23 by $0.09. The business had revenue of $1.21 billion during the quarter, compared to the consensus estimate of $1.15 billion. Activision Blizzard had a net margin of 23.66% and a return on equity of 13.91%. The firm’s revenue for the quarter was down 27.1% on a year-over-year basis. During the same period in the previous year, the firm posted $0.52 earnings per share. On average, equities research analysts expect that Activision Blizzard, Inc. will post 2.01 earnings per share for the current fiscal year.
In other Activision Blizzard news, insider Christopher B. Walther sold 5,333 shares of the business’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $52.67, for a total value of $280,889.11. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 1.31% of the company’s stock.
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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