National Pension Service grew its stake in Activision Blizzard, Inc. (NASDAQ:ATVI) by 17.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 681,517 shares of the company’s stock after buying an additional 100,112 shares during the period. National Pension Service owned approximately 0.09% of Activision Blizzard worth $43,154,000 at the end of the most recent reporting period.
A number of other hedge funds also recently added to or reduced their stakes in ATVI. Cornerstone Advisors Inc. grew its stake in Activision Blizzard by 321.5% in the 3rd quarter. Cornerstone Advisors Inc. now owns 1,547 shares of the company’s stock worth $100,000 after buying an additional 1,180 shares in the last quarter. Grove Bank & Trust grew its stake in Activision Blizzard by 261.7% in the 3rd quarter. Grove Bank & Trust now owns 2,170 shares of the company’s stock worth $140,000 after buying an additional 1,570 shares in the last quarter. Phocas Financial Corp. purchased a new position in Activision Blizzard in the 2nd quarter worth approximately $173,000. BB&T Investment Services Inc. purchased a new position in Activision Blizzard in the 2nd quarter worth approximately $189,000. Finally, Yorktown Management & Research Co Inc purchased a new position in Activision Blizzard in the 2nd quarter worth approximately $201,000. 86.49% of the stock is owned by institutional investors and hedge funds.
In related news, CEO Riccardo Zacconi sold 19,761 shares of the company’s stock in a transaction on Friday, November 17th. The shares were sold at an average price of $63.64, for a total transaction of $1,257,590.04. Following the completion of the sale, the chief executive officer now directly owns 41,435 shares in the company, valued at approximately $2,636,923.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 2.12% of the company’s stock.
Activision Blizzard (NASDAQ:ATVI) last posted its quarterly earnings results on Thursday, November 2nd. The company reported $0.56 EPS for the quarter, beating the Zacks’ consensus estimate of $0.45 by $0.11. Activision Blizzard had a net margin of 15.90% and a return on equity of 17.56%. research analysts predict that Activision Blizzard, Inc. will post 2.1 earnings per share for the current year.
A number of equities analysts have commented on ATVI shares. Vetr raised shares of Activision Blizzard from a “hold” rating to a “buy” rating and set a $64.25 price target for the company in a research note on Wednesday, September 27th. Buckingham Research started coverage on shares of Activision Blizzard in a research note on Wednesday, September 20th. They issued a “buy” rating and a $79.00 price target for the company. KeyCorp reissued a “buy” rating and issued a $74.00 price target on shares of Activision Blizzard in a research note on Tuesday, October 17th. Needham & Company LLC reissued a “buy” rating and issued a $75.00 price target on shares of Activision Blizzard in a research note on Thursday, October 12th. Finally, Stifel Nicolaus reissued a “buy” rating and issued a $71.00 price target on shares of Activision Blizzard in a research note on Monday, October 9th. Six investment analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the company. Activision Blizzard has an average rating of “Buy” and an average price target of $69.91.
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Activision Blizzard Company Profile
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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