Tealwood Asset Management Inc. Decreases Stake in Activision Blizzard, Inc. (NASDAQ:ATVI)

Tealwood Asset Management Inc. lowered its stake in Activision Blizzard, Inc. (NASDAQ:ATVI) by 3.1% in the second quarter, HoldingsChannel reports. The institutional investor owned 36,497 shares of the company’s stock after selling 1,168 shares during the period. Tealwood Asset Management Inc.’s holdings in Activision Blizzard were worth $1,723,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Geode Capital Management LLC raised its holdings in shares of Activision Blizzard by 7.4% in the fourth quarter. Geode Capital Management LLC now owns 9,116,102 shares of the company’s stock worth $423,741,000 after buying an additional 626,387 shares during the last quarter. Swedbank raised its holdings in shares of Activision Blizzard by 21.5% in the first quarter. Swedbank now owns 6,007,179 shares of the company’s stock worth $273,507,000 after buying an additional 1,063,547 shares during the last quarter. Artisan Partners Limited Partnership raised its holdings in shares of Activision Blizzard by 4.6% in the first quarter. Artisan Partners Limited Partnership now owns 5,063,920 shares of the company’s stock worth $230,560,000 after buying an additional 222,722 shares during the last quarter. Alecta Pensionsforsakring Omsesidigt raised its holdings in shares of Activision Blizzard by 10.0% in the second quarter. Alecta Pensionsforsakring Omsesidigt now owns 4,950,000 shares of the company’s stock worth $233,640,000 after buying an additional 450,000 shares during the last quarter. Finally, Ruffer LLP purchased a new position in shares of Activision Blizzard in the second quarter worth $160,765,000. 85.72% of the stock is owned by institutional investors and hedge funds.

In other news, insider Christopher B. Walther sold 2,333 shares of Activision Blizzard stock in a transaction dated Wednesday, June 5th. The shares were sold at an average price of $44.00, for a total value of $102,652.00. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Christopher B. Walther sold 11,333 shares of Activision Blizzard stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $47.91, for a total transaction of $542,964.03. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 153,844 shares of company stock worth $7,359,670. 1.29% of the stock is owned by company insiders.

Several brokerages recently issued reports on ATVI. MKM Partners reissued a “neutral” rating and set a $47.00 target price (up previously from $45.00) on shares of Activision Blizzard in a report on Friday, August 9th. William Blair reissued an “outperform” rating on shares of Activision Blizzard in a report on Friday, May 3rd. ValuEngine raised shares of Activision Blizzard from a “hold” rating to a “buy” rating in a report on Thursday, August 1st. TheStreet raised shares of Activision Blizzard from a “c+” rating to a “b-” rating in a report on Tuesday, August 13th. Finally, SunTrust Banks raised their target price on shares of Activision Blizzard from $52.00 to $56.00 and gave the stock a “buy” rating in a report on Monday, August 12th. Eleven equities research analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $59.68.

ATVI stock traded down $0.05 during midday trading on Thursday, hitting $48.99. 160,874 shares of the stock traded hands, compared to its average volume of 6,996,095. The firm has a market cap of $36.76 billion, a P/E ratio of 20.54, a PEG ratio of 1.90 and a beta of 0.90. The company has a debt-to-equity ratio of 0.22, a current ratio of 3.46 and a quick ratio of 3.43. The stock’s fifty day simple moving average is $47.42 and its 200-day simple moving average is $45.73. Activision Blizzard, Inc. has a 1-year low of $39.85 and a 1-year high of $84.68.

Activision Blizzard (NASDAQ:ATVI) last released its quarterly earnings results on Thursday, August 8th. The company reported $0.34 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.20 by $0.14. The company had revenue of $1.21 billion for the quarter, compared to analyst estimates of $1.19 billion. Activision Blizzard had a net margin of 23.69% and a return on equity of 15.54%. The firm’s revenue was down 12.9% on a year-over-year basis. During the same quarter last year, the business earned $0.41 earnings per share. On average, research analysts predict that Activision Blizzard, Inc. will post 2 earnings per share for the current year.

About Activision Blizzard

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.

Further Reading: Growth and Income Funds

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Institutional Ownership by Quarter for Activision Blizzard (NASDAQ:ATVI)

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