State Board of Administration of Florida Retirement System lifted its holdings in shares of Activision Blizzard, Inc. (NASDAQ:ATVI) by 5.2% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,119,776 shares of the company’s stock after purchasing an additional 55,210 shares during the period. State Board of Administration of Florida Retirement System’s holdings in Activision Blizzard were worth $84,991,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also modified their holdings of the company. AlphaCore Capital LLC purchased a new stake in Activision Blizzard in the 1st quarter worth approximately $27,000. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in Activision Blizzard in the 1st quarter worth approximately $27,000. Howe & Rusling Inc. boosted its holdings in shares of Activision Blizzard by 506.9% in the 2nd quarter. Howe & Rusling Inc. now owns 352 shares of the company’s stock valued at $27,000 after purchasing an additional 294 shares during the last quarter. Cerebellum GP LLC acquired a new position in shares of Activision Blizzard in the 2nd quarter valued at $28,000. Finally, Virtus ETF Advisers LLC acquired a new position in shares of Activision Blizzard in the 2nd quarter valued at $32,000. 86.73% of the stock is owned by institutional investors and hedge funds.
Shares of ATVI traded up $1.27 during midday trading on Thursday, hitting $83.25. The company had a trading volume of 133,180 shares, compared to its average volume of 7,110,747. The company’s 50 day moving average price is $80.62 and its 200 day moving average price is $69.21. The stock has a market cap of $64.17 billion, a price-to-earnings ratio of 35.60, a PEG ratio of 1.61 and a beta of 0.63. Activision Blizzard, Inc. has a 52 week low of $47.16 and a 52 week high of $87.73. The company has a quick ratio of 3.02, a current ratio of 3.02 and a debt-to-equity ratio of 0.20.
Activision Blizzard (NASDAQ:ATVI) last released its earnings results on Tuesday, August 4th. The company reported $0.93 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.63 by $0.30. Activision Blizzard had a net margin of 25.96% and a return on equity of 17.66%. The company had revenue of $2.08 billion during the quarter, compared to the consensus estimate of $1.69 billion. Equities analysts anticipate that Activision Blizzard, Inc. will post 2.98 EPS for the current fiscal year.
A number of brokerages have weighed in on ATVI. MKM Partners lifted their price target on shares of Activision Blizzard from $87.00 to $100.00 in a report on Thursday, August 13th. Nomura lifted their price target on shares of Activision Blizzard from $70.00 to $80.00 in a report on Wednesday, May 6th. Edward Jones began coverage on shares of Activision Blizzard in a report on Tuesday, July 14th. They issued a “buy” rating on the stock. Citigroup lifted their price target on shares of Activision Blizzard from $73.00 to $83.00 and gave the company a “neutral” rating in a report on Thursday, August 13th. Finally, BidaskClub lowered shares of Activision Blizzard from a “strong-buy” rating to a “buy” rating in a report on Wednesday, August 12th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, twenty-eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $85.03.
In related news, insider Claudine Macartney sold 12,902 shares of the business’s stock in a transaction dated Thursday, August 6th. The shares were sold at an average price of $86.06, for a total transaction of $1,110,346.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CAO Jesse Yang acquired 400 shares of the stock in a transaction that occurred on Wednesday, May 27th. The shares were acquired at an average cost of $68.52 per share, with a total value of $27,408.00. Following the transaction, the chief accounting officer now owns 700 shares in the company, valued at $47,964. The disclosure for this purchase can be found here. 1.29% of the stock is owned by corporate insiders.
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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