Mitsubishi UFJ Kokusai Asset Management Co. Ltd. lifted its stake in shares of Activision Blizzard, Inc. (NASDAQ:ATVI) by 8.1% in the first quarter, according to the company in its most recent filing with the SEC. The fund owned 164,834 shares of the company’s stock after buying 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 as of its most recent SEC filing.
Several other hedge funds also recently made changes to their positions in ATVI. Baird Financial Group Inc. grew its stake in Activision Blizzard by 5.4% in the 4th quarter. Baird Financial Group Inc. now owns 180,964 shares of the company’s stock valued at $10,753,000 after buying an additional 9,323 shares during the last quarter. Bamco Inc. NY boosted its holdings in shares of Activision Blizzard by 104.6% during the fourth quarter. Bamco Inc. NY now owns 490,876 shares of the company’s stock worth $29,168,000 after acquiring an additional 250,950 shares during the period. Banque Cantonale Vaudoise acquired a new position in shares of Activision Blizzard in the fourth quarter valued at approximately $2,544,000. IBM Retirement Fund increased its stake in shares of Activision Blizzard by 51.5% during the first quarter. IBM Retirement Fund now owns 19,782 shares of the company’s stock worth $1,177,000 after purchasing an additional 6,727 shares during the period. Finally, Franklin Resources Inc. lifted its holdings in Activision Blizzard by 23.3% during the 4th quarter. Franklin Resources Inc. now owns 8,253 shares of the company’s stock worth $490,000 after purchasing an additional 1,560 shares during the last quarter. 88.30% of the stock is owned by institutional investors and hedge funds.
Several research firms have weighed in on ATVI. Zacks Investment Research upgraded Activision Blizzard from a “hold” rating to a “buy” rating and set a $67.00 price objective on the stock in a research report on Monday, May 4th. Benchmark raised their price target on shares of Activision Blizzard from $72.00 to $74.00 and gave the stock a “buy” rating in a research report on Tuesday, April 21st. MKM Partners upgraded shares of Activision Blizzard from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $64.00 to $72.00 in a research note on Thursday, April 2nd. Deutsche Bank increased their target price on shares of Activision Blizzard from $65.00 to $75.00 and gave the stock a “hold” rating in a research report on Thursday. They noted that the move was a valuation call. Finally, BMO Capital Markets lifted their price target on shares of Activision Blizzard from $70.00 to $82.00 and gave the company an “outperform” rating in a research report on Thursday, May 7th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, twenty-eight have assigned a buy rating and two have issued a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $72.88.
Activision Blizzard (NASDAQ:ATVI) last issued its earnings results on Tuesday, May 5th. The company reported $0.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $1.32 billion. During the same quarter in the prior year, the firm earned $0.58 EPS. The business’s revenue for the quarter was up 21.0% compared to the same quarter last year. Equities analysts anticipate that Activision Blizzard, Inc. will post 2.49 earnings per share for the current fiscal year.
In related news, Director Brian G. Kelly sold 250,000 shares of the firm’s stock in a transaction on Thursday, May 14th. The stock was sold at an average price of $72.42, for a total transaction of $18,105,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Collister Johnson sold 24,000 shares of Activision Blizzard stock in a transaction dated Thursday, May 7th. The stock was sold at an average price of $72.31, for a total value of $1,735,440.00. The disclosure for this sale can be found here. Insiders sold 483,452 shares of company stock valued at $32,274,300 in the last ninety days. 1.29% of the stock is currently owned by insiders.
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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