First Trust Advisors LP grew its holdings in Activision Blizzard, Inc. (NASDAQ:ATVI) by 21.8% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 1,049,884 shares of the company’s stock after acquiring an additional 188,127 shares during the period. First Trust Advisors LP’s holdings in Activision Blizzard were worth $66,479,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Oppenheimer & Co. Inc. lifted its holdings in Activision Blizzard by 94.4% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 66,349 shares of the company’s stock worth $4,280,000 after buying an additional 32,224 shares during the period. Quantitative Systematic Strategies LLC purchased a new position in shares of Activision Blizzard in the 3rd quarter valued at approximately $881,000. State Board of Administration of Florida Retirement System lifted its stake in shares of Activision Blizzard by 3.5% in the 3rd quarter. State Board of Administration of Florida Retirement System now owns 1,005,178 shares of the company’s stock valued at $64,844,000 after purchasing an additional 34,070 shares during the period. Highstreet Asset Management Inc. lifted its stake in shares of Activision Blizzard by 23.6% in the 3rd quarter. Highstreet Asset Management Inc. now owns 11,282 shares of the company’s stock valued at $728,000 after purchasing an additional 2,151 shares during the period. Finally, Carmignac Gestion lifted its stake in shares of Activision Blizzard by 0.5% in the 3rd quarter. Carmignac Gestion now owns 5,920,188 shares of the company’s stock valued at $381,911,000 after purchasing an additional 26,761 shares during the period. Institutional investors and hedge funds own 85.61% of the company’s stock.
A number of research analysts have recently commented on ATVI shares. Zacks Investment Research cut Activision Blizzard from a “buy” rating to a “hold” rating in a research note on Monday, January 8th. BidaskClub cut Activision Blizzard from a “buy” rating to a “hold” rating in a research note on Wednesday, December 27th. SunTrust Banks set a $77.00 target price on Activision Blizzard and gave the company a “buy” rating in a research note on Wednesday, January 24th. Vetr cut Activision Blizzard from a “hold” rating to a “sell” rating and set a $69.79 target price for the company. in a research note on Monday, January 29th. Finally, TheStreet cut Activision Blizzard from a “b” rating to a “c+” rating in a research note on Thursday, February 8th. Six investment analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and one has issued a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $71.95.
Activision Blizzard (NASDAQ:ATVI) last posted its earnings results on Thursday, February 8th. The company reported $0.94 EPS for the quarter, topping the Zacks’ consensus estimate of $0.92 by $0.02. The business had revenue of $2.64 billion during the quarter, compared to analyst estimates of $2.55 billion. Activision Blizzard had a return on equity of 17.48% and a net margin of 3.89%. The company’s quarterly revenue was up 7.7% compared to the same quarter last year. During the same quarter last year, the company earned $0.65 EPS. sell-side analysts expect that Activision Blizzard, Inc. will post 2.57 earnings per share for the current year.
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About Activision Blizzard
Activision Blizzard, Inc is a developer and publisher of interactive entertainment content and services. The Company develops and distributes content and services across various gaming platforms, including video game consoles, personal computers (PC) and mobile devices. Its segments include Activision Publishing, Inc (Activision), Blizzard Entertainment, Inc (Blizzard), King Digital Entertainment (King) and Other.
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