First Horizon Advisors Inc. boosted its position in Activision Blizzard, Inc. (NASDAQ:ATVI) by 90.3% in the 1st quarter, Holdings Channel reports. The institutional investor owned 2,386 shares of the company’s stock after buying an additional 1,132 shares during the period. First Horizon Advisors Inc.’s holdings in Activision Blizzard were worth $221,000 as of its most recent SEC filing.
A number of other institutional investors have also recently made changes to their positions in the stock. Synovus Financial Corp grew its holdings in shares of Activision Blizzard by 27.4% during the first quarter. Synovus Financial Corp now owns 10,467 shares of the company’s stock valued at $974,000 after purchasing an additional 2,251 shares during the last quarter. Beta Wealth Group Inc. grew its holdings in shares of Activision Blizzard by 2.6% during the first quarter. Beta Wealth Group Inc. now owns 16,088 shares of the company’s stock valued at $1,496,000 after purchasing an additional 415 shares during the last quarter. Landscape Capital Management L.L.C. bought a new position in shares of Activision Blizzard during the first quarter valued at approximately $5,135,000. Davy Global Fund Management Ltd grew its holdings in shares of Activision Blizzard by 10.0% during the first quarter. Davy Global Fund Management Ltd now owns 3,656 shares of the company’s stock valued at $340,000 after purchasing an additional 333 shares during the last quarter. Finally, Cutter & CO Brokerage Inc. grew its holdings in shares of Activision Blizzard by 11.9% during the first quarter. Cutter & CO Brokerage Inc. now owns 6,964 shares of the company’s stock valued at $648,000 after purchasing an additional 741 shares during the last quarter. 85.91% of the stock is owned by hedge funds and other institutional investors.
Several equities analysts have recently commented on ATVI shares. Zacks Investment Research lowered Activision Blizzard from a “buy” rating to a “hold” rating and set a $101.00 target price for the company. in a report on Tuesday, April 20th. Morgan Stanley increased their price objective on Activision Blizzard from $115.00 to $120.00 and gave the stock an “overweight” rating in a report on Wednesday, May 5th. Argus increased their price objective on Activision Blizzard from $102.00 to $122.00 in a report on Thursday, February 18th. Raymond James reissued a “buy” rating on shares of Activision Blizzard in a report on Monday, February 22nd. Finally, Jefferies Financial Group assumed coverage on Activision Blizzard in a report on Friday, April 23rd. They issued a “buy” rating and a $120.00 price objective for the company. Two investment analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the stock. Activision Blizzard currently has an average rating of “Buy” and an average price target of $109.64.
Shares of NASDAQ:ATVI opened at $97.69 on Friday. Activision Blizzard, Inc. has a one year low of $70.25 and a one year high of $104.53. The firm’s fifty day moving average is $94.94. The firm has a market cap of $75.91 billion, a P/E ratio of 32.89, a PEG ratio of 1.55 and a beta of 0.61. The company has a debt-to-equity ratio of 0.24, a current ratio of 3.43 and a quick ratio of 3.43.
Activision Blizzard (NASDAQ:ATVI) last announced its quarterly earnings data on Monday, May 3rd. The company reported $0.84 EPS for the quarter, beating analysts’ consensus estimates of $0.65 by $0.19. Activision Blizzard had a return on equity of 18.18% and a net margin of 26.95%. The company had revenue of $2.07 billion during the quarter, compared to the consensus estimate of $1.77 billion. During the same quarter in the prior year, the firm earned $0.65 EPS. The company’s quarterly revenue was up 36.0% compared to the same quarter last year. As a group, research analysts expect that Activision Blizzard, Inc. will post 3.42 earnings per share for the current fiscal year.
Activision Blizzard Company Profile
Activision Blizzard, Inc, together with its subsidiaries, develops and publishes interactive entertainment content and services in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company operates through three segments: Activision Publishing, Inc; Blizzard Entertainment, Inc; and King Digital Entertainment.
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