Perigon Wealth Management LLC increased its holdings in Activision Blizzard, Inc. (NASDAQ:ATVI) by 15.8% in the first quarter, HoldingsChannel.com reports. The fund owned 3,577 shares of the company’s stock after acquiring an additional 488 shares during the period. Perigon Wealth Management LLC’s holdings in Activision Blizzard were worth $333,000 at the end of the most recent quarter.
A number of other hedge funds have also made changes to their positions in ATVI. Berman Capital Advisors LLC raised its holdings in Activision Blizzard by 31.6% in the fourth quarter. Berman Capital Advisors LLC now owns 2,373 shares of the company’s stock worth $220,000 after purchasing an additional 570 shares in the last quarter. Brown Advisory Inc. raised its holdings in Activision Blizzard by 2.3% in the fourth quarter. Brown Advisory Inc. now owns 10,961 shares of the company’s stock worth $1,018,000 after purchasing an additional 245 shares in the last quarter. First Foundation Advisors raised its holdings in Activision Blizzard by 43.9% in the fourth quarter. First Foundation Advisors now owns 4,790 shares of the company’s stock worth $445,000 after purchasing an additional 1,462 shares in the last quarter. Benjamin F. Edwards & Company Inc. raised its holdings in Activision Blizzard by 13.7% in the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 14,510 shares of the company’s stock worth $1,347,000 after purchasing an additional 1,750 shares in the last quarter. Finally, Engineers Gate Manager LP raised its holdings in Activision Blizzard by 26.2% in the fourth quarter. Engineers Gate Manager LP now owns 18,738 shares of the company’s stock worth $1,740,000 after purchasing an additional 3,893 shares in the last quarter. 86.01% of the stock is owned by institutional investors.
In other news, CFO Armin Zerza sold 23,723 shares of Activision Blizzard stock in a transaction dated Tuesday, May 11th. The stock was sold at an average price of $94.86, for a total transaction of $2,250,363.78. Following the transaction, the chief financial officer now directly owns 162,438 shares of the company’s stock, valued at approximately $15,408,868.68. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Peter J. Nolan acquired 5,000 shares of the stock in a transaction dated Thursday, May 6th. The shares were bought at an average cost of $93.42 per share, for a total transaction of $467,100.00. The disclosure for this purchase can be found here. Insiders acquired 22,000 shares of company stock worth $2,089,120 over the last three months. Insiders own 0.77% of the company’s stock.
Activision Blizzard (NASDAQ:ATVI) last announced its earnings results on Monday, May 3rd. The company reported $0.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.65 by $0.19. The business had revenue of $2.07 billion for the quarter, compared to analysts’ expectations of $1.77 billion. Activision Blizzard had a return on equity of 18.18% and a net margin of 26.95%. The business’s revenue for the quarter was up 36.0% on a year-over-year basis. During the same period last year, the firm posted $0.65 earnings per share. As a group, equities analysts forecast that Activision Blizzard, Inc. will post 3.42 earnings per share for the current year.
A number of research firms have issued reports on ATVI. Jefferies Financial Group began 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. Berenberg Bank raised their price target on Activision Blizzard from $105.00 to $110.00 and gave the company a “buy” rating in a report on Tuesday, July 13th. Benchmark raised their price target on Activision Blizzard from $118.00 to $120.00 and gave the company a “buy” rating in a report on Monday, May 3rd. Zacks Investment Research downgraded Activision Blizzard from a “hold” rating to a “strong sell” rating and set a $78.00 price target for the company. in a report on Wednesday. Finally, BMO Capital Markets upgraded Activision Blizzard from a “market perform” rating to an “outperform” rating and set a $116.00 price target for the company in a report on Monday, May 17th. One research analyst has rated the stock with a sell rating, one has given a hold rating and twenty-one have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $110.04.
About Activision Blizzard
Activision Blizzard, Inc engages in the development and publication of interactive entertainment. It operates through the following segments: Activision Publishing, Blizzard Entertainment and King Digital Entertainment. The Activision Publishing segment develops and publishes interactive software products and entertainment content, particularly for the console platform.
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