Mitsubishi UFJ Kokusai Asset Management Co. Ltd. Grows Position in Activision Blizzard, Inc. (NASDAQ:ATVI)

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Mitsubishi UFJ Kokusai Asset Management Co. Ltd. grew its holdings in shares of Activision Blizzard, Inc. (NASDAQ:ATVI) by 8.1% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 164,834 shares of the company’s stock after purchasing an additional 12,336 shares during the quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd.’s holdings in Activision Blizzard were worth $9,804,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. AlphaCore Capital LLC purchased a new stake in shares of Activision Blizzard during the 1st quarter valued at approximately $27,000. HighMark Wealth Management LLC bought a new stake in Activision Blizzard during the 4th quarter valued at $29,000. Global Retirement Partners LLC raised its holdings in Activision Blizzard by 77.2% during the 4th quarter. Global Retirement Partners LLC now owns 576 shares of the company’s stock valued at $34,000 after acquiring an additional 251 shares during the period. Belmont Capital LLC purchased a new stake in shares of Activision Blizzard during the first quarter worth $34,000. Finally, Hoey Investments Inc. boosted its holdings in shares of Activision Blizzard by 165.2% in the first quarter. Hoey Investments Inc. now owns 602 shares of the company’s stock worth $36,000 after acquiring an additional 375 shares during the period. Hedge funds and other institutional investors own 88.30% of the company’s stock.

In other news, insider Christopher B. Walther sold 159,452 shares of the company’s stock in a transaction dated Monday, March 16th. The shares were sold at an average price of $55.00, for a total transaction of $8,769,860.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Brian G. Kelly sold 250,000 shares of the stock in a transaction dated Thursday, May 14th. The stock was sold at an average price of $72.42, for a total transaction of $18,105,000.00. The disclosure for this sale can be found here. Insiders sold 483,452 shares of company stock worth $32,274,300 in the last 90 days. Company insiders own 1.29% of the company’s stock.

Shares of ATVI traded up $0.61 during trading hours on Friday, hitting $73.08. The company had a trading volume of 5,141,091 shares, compared to its average volume of 8,700,122. Activision Blizzard, Inc. has a 52-week low of $41.84 and a 52-week high of $75.97. The company has a quick ratio of 2.78, a current ratio of 2.78 and a debt-to-equity ratio of 0.21. The stock’s 50 day moving average price is $66.84 and its 200 day moving average price is $60.22. The firm has a market cap of $55.84 billion, a P/E ratio of 36.18, a P/E/G ratio of 1.55 and a beta of 0.60.

Activision Blizzard (NASDAQ:ATVI) last announced its quarterly earnings results on Tuesday, May 5th. The company reported $0.58 EPS for the quarter, topping the Zacks’ consensus estimate of $0.38 by $0.20. Activision Blizzard had a return on equity of 14.57% and a net margin of 24.21%. The business had revenue of $1.52 billion for the quarter, compared to analysts’ expectations of $1.32 billion. During the same period in the previous year, the firm earned $0.58 EPS. The business’s quarterly revenue was up 21.0% on a year-over-year basis. On average, research analysts expect that Activision Blizzard, Inc. will post 2.49 EPS for the current fiscal year.

A number of brokerages recently issued reports on ATVI. Zacks Investment Research raised Activision Blizzard from a “hold” rating to a “buy” rating and set a $67.00 price objective on the stock in a report on Monday, May 4th. MKM Partners raised shares of Activision Blizzard from a “neutral” rating to a “buy” rating and increased their price target for the stock from $64.00 to $72.00 in a report on Thursday, April 2nd. Needham & Company LLC restated a “buy” rating and issued a $75.00 price objective on shares of Activision Blizzard in a research report on Wednesday, May 6th. Wells Fargo & Co started coverage on shares of Activision Blizzard in a report on Sunday, April 19th. They set an “overweight” rating and a $75.00 target price on the stock. Finally, BMO Capital Markets increased their target price on shares of Activision Blizzard from $70.00 to $82.00 and gave the stock an “outperform” rating in a research note on Thursday, May 7th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, twenty-eight have issued a buy rating and two have assigned a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $72.88.

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. 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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