Community Trust & Investment Co. Grows Position in Activision Blizzard, Inc. (NASDAQ:ATVI)

Community Trust & Investment Co. lifted its stake in Activision Blizzard, Inc. (NASDAQ:ATVI) by 12.0% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 344,391 shares of the company’s stock after buying an additional 36,888 shares during the quarter. Activision Blizzard makes up about 2.2% of Community Trust & Investment Co.’s investment portfolio, making the stock its 14th largest position. Community Trust & Investment Co.’s holdings in Activision Blizzard were worth $18,226,000 as of its most recent filing with the SEC.

Several other hedge funds also recently added to or reduced their stakes in the company. Trexquant Investment LP bought a new position in Activision Blizzard during the first quarter valued at $1,477,000. Corient Capital Partners LLC lifted its stake in Activision Blizzard by 39.8% in the second quarter. Corient Capital Partners LLC now owns 7,517 shares of the company’s stock worth $354,000 after acquiring an additional 2,141 shares during the period. Arizona State Retirement System lifted its stake in Activision Blizzard by 61.5% in the second quarter. Arizona State Retirement System now owns 236,887 shares of the company’s stock worth $11,181,000 after acquiring an additional 90,217 shares during the period. CWM LLC lifted its stake in Activision Blizzard by 1.1% in the second quarter. CWM LLC now owns 58,576 shares of the company’s stock worth $2,765,000 after acquiring an additional 661 shares during the period. Finally, Invesco Ltd. lifted its stake in Activision Blizzard by 7.1% in the second quarter. Invesco Ltd. now owns 19,334,866 shares of the company’s stock worth $912,605,000 after acquiring an additional 1,289,300 shares during the period. 86.97% of the stock is currently owned by hedge funds and other institutional investors.

Activision Blizzard stock traded up $1.52 during trading on Friday, reaching $55.21. The company had a trading volume of 2,012,341 shares, compared to its average volume of 7,907,994. The firm’s 50-day simple moving average is $53.00 and its 200 day simple moving average is $48.04. Activision Blizzard, Inc. has a 1-year low of $39.85 and a 1-year high of $80.25. The firm has a market capitalization of $41.52 billion, a PE ratio of 23.10, a price-to-earnings-growth ratio of 2.09 and a beta of 0.85. The company has a debt-to-equity ratio of 0.22, a quick ratio of 3.43 and a current ratio of 3.46.

Activision Blizzard (NASDAQ:ATVI) last released its quarterly earnings results on Thursday, August 8th. The company reported $0.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.20 by $0.14. The firm had revenue of $1.21 billion for 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% compared to the same quarter last year. During the same quarter last year, the company earned $0.41 EPS. Analysts anticipate that Activision Blizzard, Inc. will post 2 EPS for the current year.

ATVI has been the subject of several analyst reports. ValuEngine raised shares of Activision Blizzard from a “hold” rating to a “buy” rating in a research report on Thursday, August 1st. Piper Jaffray Companies increased their price objective on shares of Activision Blizzard from $55.00 to $62.00 and gave the company an “overweight” rating in a research report on Wednesday, September 18th. Stephens raised shares of Activision Blizzard from an “equal” rating to a “weight” rating and increased their price objective for the company from $52.00 to $65.00 in a research report on Thursday, September 5th. Wedbush reaffirmed an “outperform” rating and issued a $60.00 price objective on shares of Activision Blizzard in a research report on Friday, August 9th. Finally, Sanford C. Bernstein lowered shares of Activision Blizzard from a “market perform” rating to an “underperform” rating and increased their price objective for the company from $41.00 to $43.00 in a research report on Wednesday, October 2nd. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $60.10.

In other Activision Blizzard news, insider Christopher B. Walther sold 5,333 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $50.83, for a total value of $271,076.39. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Brian M. Stolz sold 134,845 shares of the firm’s stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $47.80, for a total value of $6,445,591.00. Following the completion of the transaction, the insider now owns 58,563 shares in the company, valued at approximately $2,799,311.40. The disclosure for this sale can be found here. Insiders sold a total of 150,844 shares of company stock worth $7,266,020 in the last 90 days. 1.29% of the stock is currently owned by insiders.

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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