Avitas Wealth Management LLC Has $2.16 Million Holdings in Activision Blizzard, Inc. (NASDAQ:ATVI)

Avitas Wealth Management LLC decreased its position in Activision Blizzard, Inc. (NASDAQ:ATVI) by 3.3% during the 2nd quarter, Holdings Channel.com reports. The firm owned 28,510 shares of the company’s stock after selling 981 shares during the period. Avitas Wealth Management LLC’s holdings in Activision Blizzard were worth $2,164,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently bought and sold shares of ATVI. Brinker Capital Inc. raised its stake in Activision Blizzard by 6.9% in the 2nd quarter. Brinker Capital Inc. now owns 9,780 shares of the company’s stock worth $742,000 after purchasing an additional 628 shares in the last quarter. Convergence Investment Partners LLC bought a new position in shares of Activision Blizzard during the second quarter worth approximately $1,315,000. Brendel Financial Advisors LLC acquired a new stake in shares of Activision Blizzard in the second quarter valued at approximately $2,365,000. Huntington National Bank boosted its stake in shares of Activision Blizzard by 68.0% in the second quarter. Huntington National Bank now owns 303,658 shares of the company’s stock valued at $23,048,000 after buying an additional 122,886 shares during the period. Finally, Lyell Wealth Management LP grew its position in Activision Blizzard by 24.7% during the second quarter. Lyell Wealth Management LP now owns 55,407 shares of the company’s stock worth $4,205,000 after buying an additional 10,958 shares in the last quarter. 86.73% of the stock is currently owned by institutional investors.

ATVI stock traded up $0.93 during trading on Friday, hitting $82.63. The company had a trading volume of 8,923,266 shares, compared to its average volume of 4,912,484. The stock has a market cap of $63.66 billion, a PE ratio of 40.91, a PEG ratio of 2.01 and a beta of 0.61. The business has a 50-day moving average of $77.75 and a 200-day moving average of $67.08. The company has a current ratio of 2.78, a quick ratio of 2.78 and a debt-to-equity ratio of 0.21. Activision Blizzard, Inc. has a one year low of $44.91 and a one year high of $83.45.

Activision Blizzard (NASDAQ:ATVI) last posted its quarterly earnings data on Tuesday, May 5th. The company reported $0.58 EPS for the quarter, beating the Zacks’ consensus estimate of $0.38 by $0.20. Activision Blizzard had a net margin of 24.21% and a return on equity of 14.57%. The company had revenue of $1.52 billion for the quarter, compared to analyst estimates of $1.32 billion. During the same period in the prior year, the firm posted $0.58 EPS. The company’s quarterly revenue was up 21.0% on a year-over-year basis. Research analysts forecast that Activision Blizzard, Inc. will post 2.54 EPS for the current year.

A number of brokerages recently commented on ATVI. Nomura Instinet raised their price target on Activision Blizzard from $70.00 to $80.00 and gave the stock a “buy” rating in a research report on Wednesday, May 6th. KeyCorp raised their target price on shares of Activision Blizzard from $83.00 to $90.00 and gave the company an “overweight” rating in a report on Thursday, July 23rd. SunTrust Banks upped their price target on shares of Activision Blizzard to $87.00 and gave the stock a “buy” rating in a report on Thursday, July 23rd. Barclays lifted their price objective on shares of Activision Blizzard from $82.00 to $90.00 and gave the company an “overweight” rating in a research note on Tuesday, July 21st. They noted that the move was a valuation call. Finally, Nomura boosted their price objective on shares of Activision Blizzard from $70.00 to $80.00 in a research report on Wednesday, May 6th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, twenty-seven have issued a buy rating and two have given a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $78.47.

In other Activision Blizzard news, Director Brian G. Kelly sold 250,000 shares of Activision Blizzard stock in a transaction that occurred on Thursday, May 14th. The stock was sold at an average price of $72.42, for a total value of $18,105,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Jesse Yang purchased 500 shares of the company’s stock in a transaction on Tuesday, May 19th. The stock was acquired at an average cost of $73.00 per share, for a total transaction of $36,500.00. Following the completion of the purchase, the chief accounting officer now owns 500 shares of the company’s stock, valued at approximately $36,500. The disclosure for this purchase can be found here. Insiders have sold 324,000 shares of company stock worth $23,504,440 in the last ninety days. Insiders own 1.29% of the company’s stock.

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

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