Benjamin F. Edwards & Company Inc. Grows Stake in Activision Blizzard, Inc. (NASDAQ:ATVI)
Benjamin F. Edwards & Company Inc. boosted its position in shares of Activision Blizzard, Inc. (NASDAQ:ATVI) by 1.6% during the 1st quarter, HoldingsChannel reports. The firm owned 9,406 shares of the company’s stock after buying an additional 147 shares during the period. Benjamin F. Edwards & Company Inc.’s holdings in Activision Blizzard were worth $559,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in ATVI. Manchester Financial Inc. purchased a new position in Activision Blizzard during the 4th quarter worth $25,000. AlphaCore Capital LLC purchased a new position in Activision Blizzard during the 1st quarter worth $27,000. Candriam Luxembourg S.C.A. increased its holdings in Activision Blizzard by 50.7% during the 4th quarter. Candriam Luxembourg S.C.A. now owns 489,868 shares of the company’s stock worth $29,000 after purchasing an additional 164,842 shares during the period. HighMark Wealth Management LLC purchased a new position in Activision Blizzard during the 4th quarter worth $29,000. Finally, Global Retirement Partners LLC increased its holdings in shares of Activision Blizzard by 77.2% in the 4th quarter. Global Retirement Partners LLC now owns 576 shares of the company’s stock valued at $34,000 after acquiring an additional 251 shares during the period. Institutional investors own 88.99% of the company’s stock.
In other Activision Blizzard news, insider Christopher B. Walther sold 159,452 shares of the business’s stock in a transaction that occurred on Monday, March 16th. The stock was sold at an average price of $55.00, for a total transaction of $8,769,860.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Collister Johnson sold 24,000 shares of the business’s stock in a transaction that occurred on Thursday, May 7th. The stock was sold at an average price of $72.31, for a total value of $1,735,440.00. The disclosure for this sale can be found here. 1.31% of the stock is owned by insiders.
Activision Blizzard (NASDAQ:ATVI) last announced its quarterly earnings results on Tuesday, May 5th. The company reported $0.58 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.38 by $0.20. Activision Blizzard had a return on equity of 14.57% and a net margin of 24.21%. The firm had revenue of $1.52 billion during the quarter, compared to analyst estimates of $1.32 billion. During the same quarter in the previous year, the business earned $0.58 EPS. Activision Blizzard’s revenue for the quarter was up 21.0% compared to the same quarter last year. On average, sell-side analysts expect that Activision Blizzard, Inc. will post 2.5 EPS for the current year.
ATVI has been the subject of a number of recent analyst reports. BMO Capital Markets raised their price objective on Activision Blizzard from $70.00 to $82.00 and gave the stock an “outperform” rating in a research report on Thursday, May 7th. Benchmark raised their price objective on Activision Blizzard from $72.00 to $74.00 and gave the stock a “buy” rating in a research report on Tuesday, April 21st. Zacks Investment Research raised Activision Blizzard from a “hold” rating to a “buy” rating and set a $67.00 price objective for the company in a research report on Monday, May 4th. Stephens raised their price objective on Activision Blizzard from $72.00 to $78.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 6th. Finally, SunTrust Banks lifted their price target on Activision Blizzard from $68.00 to $81.00 and gave the stock a “buy” rating in a research report on Friday. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, twenty-eight have given a buy rating and two have issued a strong buy rating to the stock. Activision Blizzard currently has an average rating of “Buy” and a consensus target price of $71.91.
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.
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