Montrusco Bolton Investments Inc. raised its holdings in shares of Activision Blizzard, Inc. (NASDAQ:ATVI) by 108.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 172,076 shares of the company’s stock after purchasing an additional 89,373 shares during the quarter. Montrusco Bolton Investments Inc.’s holdings in Activision Blizzard were worth $14,315,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds have also added to or reduced their stakes in the business. BlackRock Inc. lifted its position in Activision Blizzard by 0.4% during the second quarter. BlackRock Inc. now owns 51,100,165 shares of the company’s stock valued at $3,899,967,000 after purchasing an additional 209,193 shares during the last quarter. Bank of New York Mellon Corp lifted its position in Activision Blizzard by 3.2% during the second quarter. Bank of New York Mellon Corp now owns 7,884,115 shares of the company’s stock valued at $601,716,000 after purchasing an additional 241,423 shares during the last quarter. Egerton Capital UK LLP lifted its position in Activision Blizzard by 29.1% during the second quarter. Egerton Capital UK LLP now owns 7,286,230 shares of the company’s stock valued at $556,085,000 after purchasing an additional 1,642,285 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its position in Activision Blizzard by 5.8% during the second quarter. Massachusetts Financial Services Co. MA now owns 7,151,670 shares of the company’s stock valued at $545,816,000 after purchasing an additional 389,194 shares during the last quarter. Finally, Swedbank lifted its position in Activision Blizzard by 3.1% during the second quarter. Swedbank now owns 3,782,058 shares of the company’s stock valued at $288,647,000 after purchasing an additional 115,007 shares during the last quarter. Institutional investors and hedge funds own 87.05% of the company’s stock.
In related news, CEO Riccardo Zacconi sold 19,761 shares of Activision Blizzard stock in a transaction dated Monday, August 20th. The shares were sold at an average price of $68.70, for a total transaction of $1,357,580.70. Following the completion of the sale, the chief executive officer now owns 20,324 shares in the company, valued at approximately $1,396,258.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 1.29% of the company’s stock.
ATVI has been the subject of several research reports. BidaskClub lowered shares of Activision Blizzard from a “hold” rating to a “sell” rating in a research report on Thursday, September 6th. Zacks Investment Research upgraded shares of Activision Blizzard from a “hold” rating to a “buy” rating and set a $87.00 price objective for the company in a research report on Wednesday, July 4th. Argus reiterated a “buy” rating and set a $90.00 price objective (up previously from $81.00) on shares of Activision Blizzard in a research report on Friday, September 21st. Morgan Stanley increased their price objective on shares of Activision Blizzard from $75.00 to $80.00 and gave the company an “overweight” rating in a research report on Wednesday, July 11th. Finally, Needham & Company LLC raised their target price on shares of Activision Blizzard from $80.00 to $90.00 and gave the stock a “buy” rating in a report on Tuesday, July 31st. Nine analysts have rated the stock with a hold rating, seventeen 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 a consensus target price of $81.16.
Activision Blizzard stock opened at $77.64 on Wednesday. The stock has a market capitalization of $63.42 billion, a PE ratio of 37.87, a PEG ratio of 2.22 and a beta of 0.86. The company has a debt-to-equity ratio of 0.42, a current ratio of 2.98 and a quick ratio of 2.96. Activision Blizzard, Inc. has a 12-month low of $57.29 and a 12-month high of $84.68.
Activision Blizzard (NASDAQ:ATVI) last announced its quarterly earnings data on Thursday, August 2nd. The company reported $0.41 earnings per share for the quarter, beating analysts’ consensus estimates of $0.30 by $0.11. Activision Blizzard had a net margin of 6.96% and a return on equity of 18.00%. The company had revenue of $1.39 billion during the quarter, compared to analyst estimates of $1.38 billion. During the same quarter last year, the business posted $0.32 EPS. The firm’s revenue for the quarter was down 2.3% on a year-over-year basis. Research analysts forecast that Activision Blizzard, Inc. will post 2.49 EPS for the current year.
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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