Beacon Trust Co. reduced its position in shares of Activision Blizzard Inc. (NASDAQ:ATVI) by 3.1% during the second quarter, Holdings Channel reports. The firm owned 171,847 shares of the company’s stock after selling 5,577 shares during the period. Activision Blizzard accounts for about 1.0% of Beacon Trust Co.’s portfolio, making the stock its 29th largest position. Beacon Trust Co.’s holdings in Activision Blizzard were worth $6,810,000 as of its most recent filing with the SEC.
Other large investors have also recently modified their holdings of the company. National Pension Service increased its position in shares of Activision Blizzard by 4.7% in the first quarter. National Pension Service now owns 321,881 shares of the company’s stock worth $10,892,000 after buying an additional 14,572 shares during the last quarter. Zurich Insurance Group Ltd FI bought a new position in shares of Activision Blizzard during the first quarter worth approximately $2,998,000. Steinberg Global Asset Management increased its position in shares of Activision Blizzard by 61.5% in the first quarter. Steinberg Global Asset Management now owns 33,829 shares of the company’s stock worth $1,145,000 after buying an additional 12,884 shares during the last quarter. Moore Capital Management LP bought a new position in shares of Activision Blizzard during the first quarter worth approximately $24,196,000. Finally, Arizona State Retirement System increased its position in shares of Activision Blizzard by 2.1% in the first quarter. Arizona State Retirement System now owns 137,500 shares of the company’s stock worth $4,653,000 after buying an additional 2,800 shares during the last quarter. Institutional investors and hedge funds own 84.34% of the company’s stock.
Activision Blizzard Inc. (NASDAQ:ATVI) opened at 39.41 on Monday. The stock’s 50 day moving average price is $43.30 and its 200-day moving average price is $40.71. Activision Blizzard Inc. has a one year low of $26.49 and a one year high of $45.55. The firm has a market cap of $29.29 billion, a price-to-earnings ratio of 34.21 and a beta of 1.11.
Activision Blizzard (NASDAQ:ATVI) last posted its quarterly earnings results on Thursday, November 3rd. The company reported $0.49 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.42 by $0.07. Activision Blizzard had a return on equity of 16.63% and a net margin of 13.81%. The business had revenue of $1.57 billion for the quarter, compared to analyst estimates of $6.54 billion. During the same period last year, the company earned $0.21 EPS. The firm’s revenue was up 58.4% on a year-over-year basis. Analysts forecast that Activision Blizzard Inc. will post $2.06 earnings per share for the current year.
A number of research analysts recently commented on ATVI shares. Vetr downgraded Activision Blizzard from a “hold” rating to a “sell” rating and set a $40.89 price objective for the company. in a research note on Monday, September 5th. Wedbush set a $43.00 price target on Activision Blizzard and gave the stock a “buy” rating in a research report on Monday, August 1st. Morgan Stanley began coverage on Activision Blizzard in a research report on Friday, September 23rd. They set an “overweight” rating and a $56.00 price target for the company. Robert W. Baird reiterated an “outperform” rating and set a $46.00 price target on shares of Activision Blizzard in a research report on Thursday, September 8th. Finally, Jefferies Group reiterated a “buy” rating on shares of Activision Blizzard in a research report on Monday, August 22nd. Three analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the company. Activision Blizzard currently has an average rating of “Buy” and a consensus target price of $46.66.
In other Activision Blizzard news, Director Robert J. Morgado sold 29,999 shares of Activision Blizzard stock in a transaction dated Wednesday, September 14th. The stock was sold at an average price of $43.60, for a total transaction of $1,307,956.40. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Christopher B. Walther sold 45,574 shares of Activision Blizzard stock in a transaction dated Friday, September 2nd. The stock was sold at an average price of $42.73, for a total value of $1,947,377.02. The disclosure for this sale can be found here. 25.23% of the stock is owned by insiders.
About Activision Blizzard
Activision Blizzard, Inc is a developer and publisher of online, personal computer (PC), video game console, handheld, mobile and tablet games. The Company operates through Activision Publishing, Inc (Activision) and its subsidiaries, Blizzard Entertainment, Inc (Blizzard) and its subsidiaries, and Other segments.