Biltmore Wealth Management LLC Trims Position in Activision Blizzard, Inc. (NASDAQ:ATVI)

Biltmore Wealth Management LLC lessened its stake in Activision Blizzard, Inc. (NASDAQ:ATVI) by 5.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,995 shares of the company’s stock after selling 361 shares during the period. Activision Blizzard accounts for about 0.3% of Biltmore Wealth Management LLC’s portfolio, making the stock its 26th largest position. Biltmore Wealth Management LLC’s holdings in Activision Blizzard were worth $455,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also modified their holdings of the company. Capital International Investors boosted its holdings in shares of Activision Blizzard by 4.0% in the 1st quarter. Capital International Investors now owns 59,362,226 shares of the company’s stock valued at $3,530,860,000 after buying an additional 2,295,133 shares in the last quarter. BlackRock Inc. raised its position in Activision Blizzard by 4.0% during the 2nd quarter. BlackRock Inc. now owns 54,133,188 shares of the company’s stock worth $4,108,711,000 after buying an additional 2,081,954 shares during the last quarter. Morgan Stanley raised its position in Activision Blizzard by 65.3% during the 1st quarter. Morgan Stanley now owns 8,571,832 shares of the company’s stock worth $509,853,000 after buying an additional 3,385,187 shares during the last quarter. Bank of New York Mellon Corp raised its position in Activision Blizzard by 21.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 7,379,831 shares of the company’s stock worth $560,130,000 after buying an additional 1,288,384 shares during the last quarter. Finally, Nuveen Asset Management LLC raised its position in Activision Blizzard by 13.8% during the 2nd quarter. Nuveen Asset Management LLC now owns 5,029,018 shares of the company’s stock worth $381,703,000 after buying an additional 609,667 shares during the last quarter. Institutional investors own 86.12% of the company’s stock.

Shares of ATVI opened at $80.62 on Friday. Activision Blizzard, Inc. has a 52-week low of $50.51 and a 52-week high of $87.73. The company has a quick ratio of 3.02, a current ratio of 3.02 and a debt-to-equity ratio of 0.20. The firm’s fifty day moving average is $80.23 and its two-hundred day moving average is $75.40. The stock has a market cap of $62.23 billion, a PE ratio of 34.45, a price-to-earnings-growth ratio of 1.69 and a beta of 0.72.

Activision Blizzard (NASDAQ:ATVI) last announced its earnings results on Tuesday, August 4th. The company reported $0.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.63 by $0.30. Activision Blizzard had a net margin of 25.96% and a return on equity of 17.66%. The company had revenue of $2.08 billion for the quarter, compared to analysts’ expectations of $1.69 billion. As a group, research analysts anticipate that Activision Blizzard, Inc. will post 3.01 earnings per share for the current year.

In related news, CAO Jesse Yang acquired 1,000 shares of Activision Blizzard stock in a transaction that occurred on Friday, August 14th. The shares were purchased at an average cost of $80.00 per share, for a total transaction of $80,000.00. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Claudine Macartney sold 12,902 shares of the business’s stock in a transaction dated Thursday, August 6th. The shares were sold at an average price of $86.06, for a total transaction of $1,110,346.12. The disclosure for this sale can be found here. In the last three months, insiders have sold 62,904 shares of company stock worth $5,286,012. Corporate insiders own 1.29% of the company’s stock.

Several equities analysts have recently weighed in on ATVI shares. Edward Jones started coverage on shares of Activision Blizzard in a report on Tuesday, July 14th. They set a “buy” rating for the company. Zacks Investment Research raised shares of Activision Blizzard from a “hold” rating to a “buy” rating and set a $87.00 target price for the company in a report on Monday, August 10th. Needham & Company LLC lifted their target price on shares of Activision Blizzard from $90.00 to $102.00 and gave the company a “buy” rating in a report on Wednesday, August 5th. Piper Sandler lifted their target price on shares of Activision Blizzard from $86.00 to $98.00 and gave the company an “overweight” rating in a report on Wednesday, August 5th. Finally, BMO Capital Markets lowered shares of Activision Blizzard from an “outperform” rating to a “market perform” rating and cut their target price for the company from $95.00 to $80.00 in a report on Tuesday, October 13th. Six analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and one has issued a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $87.27.

Activision Blizzard 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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