Formidable Asset Management LLC Boosts Position in Activision Blizzard, Inc. (NASDAQ:ATVI)

Formidable Asset Management LLC raised its stake in shares of Activision Blizzard, Inc. (NASDAQ:ATVI) by 276.5% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 12,773 shares of the company’s stock after buying an additional 9,380 shares during the quarter. Formidable Asset Management LLC’s holdings in Activision Blizzard were worth $989,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of ATVI. Berman Capital Advisors LLC grew its holdings in shares of Activision Blizzard by 5.1% during the second quarter. Berman Capital Advisors LLC now owns 2,460 shares of the company’s stock worth $234,000 after purchasing an additional 120 shares in the last quarter. Arkadios Wealth Advisors grew its holdings in shares of Activision Blizzard by 5.7% during the third quarter. Arkadios Wealth Advisors now owns 2,402 shares of the company’s stock worth $185,000 after purchasing an additional 130 shares in the last quarter. First City Capital Management Inc. grew its holdings in shares of Activision Blizzard by 3.8% during the second quarter. First City Capital Management Inc. now owns 3,685 shares of the company’s stock worth $314,000 after purchasing an additional 134 shares in the last quarter. Rehmann Capital Advisory Group grew its holdings in shares of Activision Blizzard by 2.1% during the second quarter. Rehmann Capital Advisory Group now owns 6,761 shares of the company’s stock worth $647,000 after purchasing an additional 141 shares in the last quarter. Finally, Freedman Financial Associates Inc. grew its holdings in shares of Activision Blizzard by 42.9% during the third quarter. Freedman Financial Associates Inc. now owns 500 shares of the company’s stock worth $39,000 after purchasing an additional 150 shares in the last quarter. 84.12% of the stock is owned by institutional investors and hedge funds.

ATVI stock traded down $0.90 during trading on Friday, reaching $63.27. The company had a trading volume of 130,880 shares, compared to its average volume of 11,741,490. The company has a debt-to-equity ratio of 0.21, a current ratio of 5.56 and a quick ratio of 5.56. Activision Blizzard, Inc. has a 52 week low of $56.40 and a 52 week high of $104.53. The business has a 50 day moving average of $63.27 and a 200 day moving average of $75.67. The company has a market cap of $49.28 billion, a P/E ratio of 18.99, a PEG ratio of 1.14 and a beta of 0.71.

Activision Blizzard (NASDAQ:ATVI) last posted its earnings results on Tuesday, November 2nd. The company reported $0.72 earnings per share for the quarter, topping analysts’ consensus estimates of $0.70 by $0.02. The firm had revenue of $1.88 billion for the quarter, compared to the consensus estimate of $1.88 billion. Activision Blizzard had a return on equity of 16.39% and a net margin of 29.18%. During the same quarter in the prior year, the business earned $0.66 EPS. Research analysts expect that Activision Blizzard, Inc. will post 3.49 earnings per share for the current year.

Several analysts have issued reports on the company. Robert W. Baird cut their target price on Activision Blizzard from $82.00 to $74.00 and set an “outperform” rating for the company in a research note on Thursday, November 18th. Edward Jones lowered Activision Blizzard from a “buy” rating to a “hold” rating in a research note on Thursday. Stifel Nicolaus cut their target price on Activision Blizzard from $95.00 to $77.00 and set a “buy” rating for the company in a research note on Monday, December 20th. MKM Partners lowered Activision Blizzard from a “neutral” rating to a “sell” rating and cut their target price for the stock from $75.00 to $54.00 in a research note on Monday, November 22nd. Finally, Truist lowered their price objective on Activision Blizzard from $101.00 to $74.00 and set a “buy” rating for the company in a research report on Monday, November 22nd. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and seventeen have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $95.17.

Activision Blizzard Profile

Activision Blizzard, Inc engages in the development and publication of interactive entertainment. It operates through the following segments: Activision Publishing, Blizzard Entertainment and King Digital Entertainment. The Activision Publishing segment develops and publishes interactive software products and entertainment content, particularly for the console platform.

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Institutional Ownership by Quarter for Activision Blizzard (NASDAQ:ATVI)

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