Perpetual Ltd Sells 6,600 Shares of Activision Blizzard, Inc. (NASDAQ:ATVI)

Perpetual Ltd lessened its position in shares of Activision Blizzard, Inc. (NASDAQ:ATVI) by 19.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 27,570 shares of the company’s stock after selling 6,600 shares during the quarter. Perpetual Ltd’s holdings in Activision Blizzard were worth $1,459,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Cornerstone Advisors Inc. grew its position in Activision Blizzard by 13.1% during the 2nd quarter. Cornerstone Advisors Inc. now owns 1,972 shares of the company’s stock worth $93,000 after purchasing an additional 229 shares during the last quarter. Dowling & Yahnke LLC grew its position in Activision Blizzard by 1.0% during the 2nd quarter. Dowling & Yahnke LLC now owns 26,404 shares of the company’s stock worth $1,246,000 after purchasing an additional 258 shares during the last quarter. Executive Wealth Management LLC grew its position in Activision Blizzard by 42.5% during the 2nd quarter. Executive Wealth Management LLC now owns 1,026 shares of the company’s stock worth $48,000 after purchasing an additional 306 shares during the last quarter. Pitcairn Co. grew its position in Activision Blizzard by 6.1% during the 2nd quarter. Pitcairn Co. now owns 6,223 shares of the company’s stock worth $294,000 after purchasing an additional 358 shares during the last quarter. Finally, Capital Investment Advisory Services LLC grew its position in Activision Blizzard by 189.5% during the 2nd quarter. Capital Investment Advisory Services LLC now owns 553 shares of the company’s stock worth $25,000 after purchasing an additional 362 shares during the last quarter. Hedge funds and other institutional investors own 86.97% of the company’s stock.

NASDAQ:ATVI traded down $0.21 during trading hours on Thursday, reaching $53.22. 591,037 shares of the company were exchanged, compared to its average volume of 7,962,586. The company has a current ratio of 3.46, a quick ratio of 3.43 and a debt-to-equity ratio of 0.22. The stock’s 50-day moving average is $52.91 and its 200-day moving average is $48.01. The firm has a market cap of $42.50 billion, a PE ratio of 22.29, a price-to-earnings-growth ratio of 2.14 and a beta of 0.85. Activision Blizzard, Inc. has a twelve month low of $39.85 and a twelve month high of $80.25.

Activision Blizzard (NASDAQ:ATVI) last posted its quarterly earnings data on Thursday, August 8th. The company reported $0.34 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.20 by $0.14. The company had revenue of $1.21 billion during the quarter, compared to analysts’ expectations 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 for the quarter was down 12.9% on a year-over-year basis. During the same period in the prior year, the business posted $0.41 earnings per share. As a group, research analysts anticipate that Activision Blizzard, Inc. will post 2 EPS for the current year.

In related news, insider Christopher B. Walther sold 5,333 shares of the company’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $50.34, for a total value of $268,463.22. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Brian M. Stolz sold 134,845 shares of the company’s stock in a transaction dated 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 directly owns 58,563 shares of the company’s stock, valued at approximately $2,799,311.40. The disclosure for this sale can be found here. Insiders sold 150,844 shares of company stock valued at $7,266,020 over the last quarter. Company insiders own 1.29% of the company’s stock.

Several research firms have recently commented on ATVI. Stifel Nicolaus upped their price objective on shares of Activision Blizzard from $57.00 to $65.00 and gave the company a “buy” rating in a report on Monday, September 9th. BMO Capital Markets raised shares of Activision Blizzard from a “market perform” rating to an “outperform” rating and upped their price objective for the company from $43.00 to $60.00 in a report on Wednesday, September 4th. TheStreet raised shares of Activision Blizzard from a “c+” rating to a “b-” rating in a report on Tuesday, August 13th. Jefferies Financial Group raised shares of Activision Blizzard to a “buy” rating and set a $65.00 price objective on the stock in a report on Thursday, September 12th. Finally, Morgan Stanley reaffirmed an “overweight” rating and issued a $57.00 price objective (up from $55.00) on shares of Activision Blizzard in a report on Friday, August 9th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, twenty-four have assigned a buy rating and one has assigned a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $60.00.

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

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