Prime Capital Investment Advisors LLC trimmed its stake in Activision Blizzard, Inc. (NASDAQ:ATVI) by 28.1% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 54,621 shares of the company’s stock after selling 21,373 shares during the period. Prime Capital Investment Advisors LLC’s holdings in Activision Blizzard were worth $2,578,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors also recently added to or reduced their stakes in ATVI. Nelson Van Denburg & Campbell Wealth Management Group LLC purchased a new stake in Activision Blizzard in the 1st quarter valued at about $27,000. Thor Advisors LLC purchased a new stake in Activision Blizzard in the 1st quarter valued at about $40,000. Kavar Capital Partners LLC purchased a new stake in Activision Blizzard in the 2nd quarter valued at about $47,000. Executive Wealth Management LLC boosted its position in Activision Blizzard by 42.5% in the 2nd quarter. Executive Wealth Management LLC now owns 1,026 shares of the company’s stock valued at $48,000 after buying an additional 306 shares during the period. Finally, FTB Advisors Inc. boosted its position in Activision Blizzard by 72.6% in the 1st quarter. FTB Advisors Inc. now owns 1,094 shares of the company’s stock valued at $49,000 after buying an additional 460 shares during the period. 85.72% of the stock is owned by institutional investors.
In related news, insider Brian M. Stolz sold 134,845 shares of the stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $47.80, for a total transaction of $6,445,591.00. Following the completion of the sale, the insider now owns 58,563 shares of the company’s stock, valued at $2,799,311.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Christopher B. Walther sold 5,333 shares of the stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $50.34, for a total transaction of $268,463.22. The disclosure for this sale can be found here. Insiders have sold 153,844 shares of company stock valued at $7,359,670 in the last three months. 1.29% of the stock is currently owned by corporate insiders.
NASDAQ:ATVI traded down $1.11 during midday trading on Friday, reaching $47.97. 203,103 shares of the stock traded hands, compared to its average volume of 7,100,534. Activision Blizzard, Inc. has a 12-month low of $39.85 and a 12-month high of $84.68. The business has a 50-day moving average of $47.43 and a two-hundred day moving average of $45.74. The company has a debt-to-equity ratio of 0.22, a quick ratio of 3.43 and a current ratio of 3.46. The stock has a market capitalization of $37.43 billion, a PE ratio of 20.26, a price-to-earnings-growth ratio of 1.94 and a beta of 0.90.
Activision Blizzard (NASDAQ:ATVI) last posted its earnings results on Thursday, August 8th. The company reported $0.34 EPS for the quarter, beating the Zacks’ consensus estimate of $0.20 by $0.14. Activision Blizzard had a net margin of 23.69% and a return on equity of 15.54%. The company had revenue of $1.21 billion during the quarter, compared to analysts’ expectations of $1.19 billion. During the same quarter in the prior year, the company posted $0.41 earnings per share. Activision Blizzard’s revenue for the quarter was down 12.9% compared to the same quarter last year. Research analysts anticipate that Activision Blizzard, Inc. will post 2 earnings per share for the current year.
Several research firms have issued reports on ATVI. MKM Partners reissued a “neutral” rating and issued a $47.00 price objective (up from $45.00) on shares of Activision Blizzard in a research report on Friday, August 9th. Ascendiant Capital Markets reissued a “buy” rating and issued a $55.00 price objective (up from $53.00) on shares of Activision Blizzard in a research report on Wednesday, August 14th. Wedbush reissued an “outperform” rating and issued a $60.00 price objective on shares of Activision Blizzard in a research report on Friday, August 9th. Goldman Sachs Group raised shares of Activision Blizzard from a “neutral” rating to a “buy” rating and upped their price target for the stock from $50.00 to $54.00 in a research report on Tuesday, May 28th. Finally, TheStreet raised shares of Activision Blizzard from a “c+” rating to a “b-” rating in a research report on Tuesday, August 13th. Eleven investment analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $59.68.
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.
See Also: Return on Equity (ROE)
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