Accuvest Global Advisors Lowers Stake in Activision Blizzard, Inc. (NASDAQ:ATVI)

Accuvest Global Advisors reduced its position in shares of Activision Blizzard, Inc. (NASDAQ:ATVI) by 64.5% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 8,672 shares of the company’s stock after selling 15,761 shares during the quarter. Accuvest Global Advisors’ holdings in Activision Blizzard were worth $409,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the business. Norges Bank bought a new stake in shares of Activision Blizzard in the fourth quarter worth approximately $347,929,000. Lazard Asset Management LLC boosted its holdings in shares of Activision Blizzard by 543.4% in the first quarter. Lazard Asset Management LLC now owns 2,116,010 shares of the company’s stock worth $96,341,000 after buying an additional 1,787,120 shares during the last quarter. APG Asset Management N.V. boosted its holdings in shares of Activision Blizzard by 291.8% in the fourth quarter. APG Asset Management N.V. now owns 1,723,443 shares of the company’s stock worth $70,210,000 after buying an additional 1,283,600 shares during the last quarter. DNB Asset Management AS boosted its holdings in shares of Activision Blizzard by 98.7% in the first quarter. DNB Asset Management AS now owns 2,472,661 shares of the company’s stock worth $112,580,000 after buying an additional 1,228,348 shares during the last quarter. Finally, Nordea Investment Management AB boosted its holdings in shares of Activision Blizzard by 1,717.3% in the fourth quarter. Nordea Investment Management AB now owns 1,222,360 shares of the company’s stock worth $56,924,000 after buying an additional 1,155,099 shares during the last quarter. Institutional investors and hedge funds own 86.34% of the company’s stock.

In other news, insider Christopher B. Walther sold 5,333 shares of the business’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $50.34, for a total value of $268,463.22. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Christopher B. Walther sold 2,333 shares of the business’s stock in a transaction on Wednesday, June 5th. The stock was sold at an average price of $44.00, for a total transaction of $102,652.00. The disclosure for this sale can be found here. Insiders sold 153,844 shares of company stock worth $7,359,670 in the last three months. Insiders own 1.29% of the company’s stock.

NASDAQ:ATVI traded up $1.15 during trading hours on Friday, hitting $46.66. 5,767,400 shares of the stock traded hands, compared to its average volume of 7,001,450. Activision Blizzard, Inc. has a 1 year low of $39.85 and a 1 year high of $84.68. The stock has a 50 day moving average price of $47.37 and a 200 day moving average price of $45.68. The company has a quick ratio of 2.61, a current ratio of 3.46 and a debt-to-equity ratio of 0.22. The company has a market cap of $34.72 billion, a price-to-earnings ratio of 19.52, a price-to-earnings-growth ratio of 1.79 and a beta of 0.90.

Activision Blizzard (NASDAQ:ATVI) last released its earnings results on Thursday, August 8th. The company reported $0.34 EPS for the quarter, topping the consensus estimate of $0.20 by $0.14. Activision Blizzard had a net margin of 23.69% and a return on equity of 15.54%. The firm had revenue of $1.21 billion for the quarter, compared to the consensus estimate of $1.19 billion. During the same quarter in the previous year, the firm earned $0.41 earnings per share. The company’s quarterly revenue was down 12.9% compared to the same quarter last year. Equities analysts forecast that Activision Blizzard, Inc. will post 2 earnings per share for the current fiscal year.

ATVI has been the topic of a number of research reports. Nomura initiated coverage on shares of Activision Blizzard in a report on Thursday, June 6th. They issued a “neutral” rating and a $49.00 price objective on the stock. MKM Partners reissued a “neutral” rating and issued a $47.00 price objective (up previously from $45.00) on shares of Activision Blizzard in a report on Friday, August 9th. Bank of America raised their price objective on shares of Activision Blizzard from $56.00 to $57.00 and gave the stock a “buy” rating in a report on Friday, August 9th. BidaskClub downgraded shares of Activision Blizzard from a “buy” rating to a “hold” rating in a report on Wednesday. Finally, Stephens downgraded shares of Activision Blizzard from an “overweight” rating to an “equal weight” rating and dropped their price objective for the stock from $57.00 to $52.00 in a report on Wednesday, May 22nd. Twelve analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $59.68.

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.

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

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