Scotia Capital Inc. raised its stake in Activision Blizzard, Inc. (NASDAQ:ATVI) by 17.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 8,999 shares of the company’s stock after buying an additional 1,356 shares during the period. Scotia Capital Inc.’s holdings in Activision Blizzard were worth $570,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. BlackRock Inc. boosted its position in shares of Activision Blizzard by 5.8% during the 4th quarter. BlackRock Inc. now owns 54,967,203 shares of the company’s stock valued at $3,480,525,000 after purchasing an additional 2,992,193 shares in the last quarter. Egerton Capital UK LLP boosted its position in shares of Activision Blizzard by 22.0% during the 4th quarter. Egerton Capital UK LLP now owns 11,051,017 shares of the company’s stock valued at $699,750,000 after purchasing an additional 1,991,213 shares in the last quarter. Bank of New York Mellon Corp raised its stake in Activision Blizzard by 7.4% during the 4th quarter. Bank of New York Mellon Corp now owns 8,026,958 shares of the company’s stock worth $508,266,000 after buying an additional 550,833 shares during the period. Geode Capital Management LLC raised its stake in Activision Blizzard by 3.3% during the 4th quarter. Geode Capital Management LLC now owns 7,790,249 shares of the company’s stock worth $492,227,000 after buying an additional 252,340 shares during the period. Finally, Carmignac Gestion raised its stake in Activision Blizzard by 0.5% during the 3rd quarter. Carmignac Gestion now owns 5,920,188 shares of the company’s stock worth $381,911,000 after buying an additional 26,761 shares during the period. Hedge funds and other institutional investors own 85.61% of the company’s stock.
In other news, Director Brian G. Kelly sold 680,000 shares of the firm’s stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $71.00, for a total value of $48,280,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Stephen G. Wereb sold 120,521 shares of the firm’s stock in a transaction on Thursday, March 1st. The stock was sold at an average price of $72.38, for a total value of $8,723,309.98. Following the completion of the transaction, the insider now directly owns 48,511 shares of the company’s stock, valued at $3,511,226.18. The disclosure for this sale can be found here. Insiders sold 2,608,282 shares of company stock valued at $184,660,583 over the last ninety days. Corporate insiders own 2.12% of the company’s stock.
Activision Blizzard (NASDAQ:ATVI) last announced its quarterly earnings data on Thursday, February 8th. The company reported $0.94 earnings per share for the quarter, beating the consensus estimate of $0.92 by $0.02. Activision Blizzard had a return on equity of 17.48% and a net margin of 3.89%. The business had revenue of $2.64 billion during the quarter, compared to analyst estimates of $2.55 billion. During the same period in the prior year, the company earned $0.65 earnings per share. Activision Blizzard’s revenue was up 7.7% compared to the same quarter last year. equities research analysts predict that Activision Blizzard, Inc. will post 2.57 EPS for the current year.
A number of research analysts recently weighed in on the company. Vetr downgraded Activision Blizzard from a “strong-buy” rating to a “buy” rating and set a $83.48 price target on the stock. in a research note on Monday. TheStreet downgraded Activision Blizzard from a “b” rating to a “c+” rating in a research note on Thursday, February 8th. Wedbush set a $81.00 price objective on Activision Blizzard and gave the stock a “buy” rating in a research note on Friday, February 9th. Jefferies Group reissued a “buy” rating on shares of Activision Blizzard in a research note on Friday, February 9th. Finally, Barclays set a $70.00 price objective on Activision Blizzard and gave the stock a “hold” rating in a research note on Friday, February 9th. Six research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $74.52.
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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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