State of New Jersey Common Pension Fund D trimmed its position in shares of Activision Blizzard, Inc. (NASDAQ:ATVI) by 60.3% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 263,500 shares of the company’s stock after selling 400,000 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Activision Blizzard were worth $21,921,000 as of its most recent filing with the SEC.
Other large investors also recently modified their holdings of the company. Ashburton Jersey Ltd acquired a new stake in Activision Blizzard in the 2nd quarter valued at about $107,000. Quad Cities Investment Group LLC acquired a new stake in Activision Blizzard in the 2nd quarter valued at about $114,000. NuWave Investment Management LLC acquired a new stake in Activision Blizzard in the 2nd quarter valued at about $121,000. Kaizen Advisory LLC raised its position in Activision Blizzard by 155.2% in the 2nd quarter. Kaizen Advisory LLC now owns 1,876 shares of the company’s stock valued at $143,000 after purchasing an additional 1,141 shares in the last quarter. Finally, Acadian Asset Management LLC acquired a new stake in Activision Blizzard in the 2nd quarter valued at about $156,000. Institutional investors own 86.92% of the company’s stock.
ATVI has been the topic of a number of analyst reports. BidaskClub lowered Activision Blizzard from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, July 25th. Piper Jaffray Companies increased their price target on Activision Blizzard to $84.00 and gave the company an “overweight” rating in a research report on Wednesday, July 25th. Wedbush set a $81.00 price objective on Activision Blizzard and gave the company a “buy” rating in a report on Thursday, July 26th. Needham & Company LLC increased their price objective on Activision Blizzard from $80.00 to $90.00 and gave the company a “buy” rating in a report on Tuesday, July 31st. Finally, Barclays dropped their price objective on Activision Blizzard from $82.00 to $79.00 and set a “hold” rating on the stock in a report on Sunday, August 5th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the stock. Activision Blizzard currently has a consensus rating of “Buy” and an average target price of $77.62.
In related news, CEO Riccardo Zacconi sold 19,761 shares of Activision Blizzard stock in a transaction on Monday, August 20th. The stock was sold at an average price of $68.70, for a total transaction of $1,357,580.70. Following the completion of the transaction, the chief executive officer now directly owns 20,324 shares of the company’s stock, valued at $1,396,258.80. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 1.29% of the company’s stock.
Shares of ATVI traded down $7.78 during mid-day trading on Friday, hitting $55.01. The company’s stock had a trading volume of 34,539,389 shares, compared to its average volume of 9,550,354. The company has a debt-to-equity ratio of 0.42, a current ratio of 2.98 and a quick ratio of 2.96. The stock has a market capitalization of $49.63 billion, a P/E ratio of 26.83, a P/E/G ratio of 1.73 and a beta of 1.11. Activision Blizzard, Inc. has a 1-year low of $53.50 and a 1-year high of $84.68.
Activision Blizzard (NASDAQ:ATVI) last posted its quarterly earnings results on Thursday, November 8th. The company reported $0.47 EPS for the quarter, missing the consensus estimate of $0.50 by ($0.03). The business had revenue of $1.66 billion during the quarter, compared to analyst estimates of $1.66 billion. Activision Blizzard had a net margin of 6.96% and a return on equity of 16.39%. The firm’s quarterly revenue was down 12.6% compared to the same quarter last year. During the same period in the prior year, the business earned $0.25 earnings per share. Research analysts anticipate that Activision Blizzard, Inc. will post 2.49 EPS for the current year.
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Activision Blizzard Company 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. The company 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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