Fiduciary Group LLC Purchases Shares of 3,603 Activision Blizzard, Inc. (NASDAQ:ATVI)

Fiduciary Group LLC acquired a new position in Activision Blizzard, Inc. (NASDAQ:ATVI) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 3,603 shares of the company’s stock, valued at approximately $214,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of ATVI. AlphaCore Capital LLC bought a new position in Activision Blizzard in the 1st quarter worth $27,000. HighMark Wealth Management LLC bought a new position in Activision Blizzard in the 4th quarter worth $29,000. Global Retirement Partners LLC raised its holdings in Activision Blizzard by 77.2% in the 4th quarter. Global Retirement Partners LLC now owns 576 shares of the company’s stock worth $34,000 after purchasing an additional 251 shares in the last quarter. Belmont Capital LLC bought a new position in Activision Blizzard in the 1st quarter worth $34,000. Finally, Hoey Investments Inc. raised its holdings in Activision Blizzard by 165.2% in the 1st quarter. Hoey Investments Inc. now owns 602 shares of the company’s stock worth $36,000 after purchasing an additional 375 shares in the last quarter. Institutional investors and hedge funds own 88.30% of the company’s stock.

Shares of ATVI traded up $0.61 on Friday, reaching $73.08. The company’s stock had a trading volume of 5,141,091 shares, compared to its average volume of 8,700,122. The company has a debt-to-equity ratio of 0.21, a current ratio of 2.78 and a quick ratio of 2.78. The stock has a market capitalization of $55.84 billion, a P/E ratio of 36.18, a PEG ratio of 1.55 and a beta of 0.60. The stock’s 50 day simple moving average is $66.84 and its two-hundred day simple moving average is $60.22. Activision Blizzard, Inc. has a 12-month low of $41.84 and a 12-month high of $75.97.

Activision Blizzard (NASDAQ:ATVI) last posted its quarterly earnings data on Tuesday, May 5th. The company reported $0.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.38 by $0.20. The company had revenue of $1.52 billion for the quarter, compared to the consensus estimate of $1.32 billion. Activision Blizzard had a net margin of 24.21% and a return on equity of 14.57%. The firm’s revenue was up 21.0% compared to the same quarter last year. During the same quarter last year, the firm posted $0.58 earnings per share. Analysts expect that Activision Blizzard, Inc. will post 2.49 earnings per share for the current year.

In related news, insider Collister Johnson sold 24,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 7th. The shares were sold at an average price of $72.31, for a total value of $1,735,440.00. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CAO Jesse Yang acquired 500 shares of the company’s stock in a transaction that occurred on Tuesday, May 19th. The stock was acquired at an average cost of $73.00 per share, for a total transaction of $36,500.00. Following the acquisition, the chief accounting officer now owns 500 shares of the company’s stock, valued at approximately $36,500. The disclosure for this purchase can be found here. In the last three months, insiders sold 483,452 shares of company stock worth $32,274,300. 1.29% of the stock is currently owned by insiders.

Several research analysts recently issued reports on ATVI shares. BMO Capital Markets increased their price target on shares of Activision Blizzard from $70.00 to $82.00 and gave the stock an “outperform” rating in a research note on Thursday, May 7th. KeyCorp increased their price target on shares of Activision Blizzard from $60.00 to $68.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 4th. JPMorgan Chase & Co. increased their price target on shares of Activision Blizzard from $68.00 to $81.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 6th. Needham & Company LLC reiterated a “buy” rating and issued a $75.00 price target on shares of Activision Blizzard in a research note on Wednesday, May 6th. Finally, Berenberg Bank upgraded shares of Activision Blizzard from a “hold” rating to a “buy” rating and set a $67.00 price target for the company in a research note on Wednesday, March 25th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, twenty-eight have issued a buy rating and two have given a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $72.88.

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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