Community Trust & Investment Co. lifted its stake in shares of Activision Blizzard, Inc. (NASDAQ:ATVI) by 12.0% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 344,391 shares of the company’s stock after buying an additional 36,888 shares during the quarter. Activision Blizzard makes up approximately 2.2% of Community Trust & Investment Co.’s portfolio, making the stock its 14th biggest position. Community Trust & Investment Co.’s holdings in Activision Blizzard were worth $18,226,000 at the end of the most recent reporting period.
Several other institutional investors also recently made changes to their positions in ATVI. Nuveen Asset Management LLC acquired a new position in shares of Activision Blizzard during the second quarter worth about $422,191,000. Ruffer LLP purchased a new stake in shares of Activision Blizzard during the second quarter worth approximately $160,765,000. Viking Global Investors LP grew its holdings in Activision Blizzard by 61.1% during the second quarter. Viking Global Investors LP now owns 7,908,859 shares of the company’s stock worth $373,298,000 after acquiring an additional 2,999,492 shares during the period. Manning & Napier Group LLC acquired a new position in Activision Blizzard during the second quarter worth $118,438,000. Finally, Boston Partners grew its holdings in Activision Blizzard by 137.6% during the second quarter. Boston Partners now owns 3,710,600 shares of the company’s stock worth $175,148,000 after acquiring an additional 2,148,773 shares during the period. 86.97% of the stock is owned by institutional investors and hedge funds.
A number of brokerages recently weighed in on ATVI. BidaskClub raised Activision Blizzard from a “buy” rating to a “strong-buy” rating in a report on Tuesday. Credit Suisse Group dropped their price objective on Activision Blizzard from $65.00 to $64.00 and set an “outperform” rating on the stock in a report on Thursday, August 8th. SunTrust Banks upped their price objective on Activision Blizzard from $56.00 to $59.00 and gave the stock a “buy” rating in a report on Friday. ValuEngine raised Activision Blizzard from a “hold” rating to a “buy” rating in a report on Thursday, August 1st. Finally, Jefferies Financial Group raised Activision Blizzard to a “buy” rating and set a $65.00 price objective on the stock in a report on Thursday, September 12th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, twenty-four have given a buy rating and one has issued a strong buy rating to the company’s stock. Activision Blizzard presently has an average rating of “Buy” and a consensus price target of $60.10.
Activision Blizzard (NASDAQ:ATVI) last released its earnings results on Thursday, August 8th. The company reported $0.34 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.20 by $0.14. Activision Blizzard had a return on equity of 15.54% and a net margin of 23.69%. The firm had revenue of $1.21 billion for the quarter, compared to the consensus estimate of $1.19 billion. During the same period in the prior year, the business posted $0.41 earnings per share. The firm’s revenue for the quarter was down 12.9% compared to the same quarter last year. As a group, equities research analysts anticipate that Activision Blizzard, Inc. will post 2 EPS for the current fiscal year.
In other news, insider Christopher B. Walther sold 5,333 shares of the firm’s stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $52.67, for a total value of $280,889.11. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Brian M. Stolz sold 134,845 shares of the firm’s stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $47.80, for a total value of $6,445,591.00. Following the completion of the transaction, the insider now owns 58,563 shares in the company, valued at $2,799,311.40. The disclosure for this sale can be found here. Insiders have sold 150,844 shares of company stock worth $7,266,020 over the last quarter. 1.29% of the stock is currently owned by company 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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