Independent Wealth Network Inc. Takes $203,000 Position in Activision Blizzard, Inc. (NASDAQ:ATVI)

Independent Wealth Network Inc. bought a new stake in shares of Activision Blizzard, Inc. (NASDAQ:ATVIGet Rating) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 3,054 shares of the company’s stock, valued at approximately $203,000.

Several other hedge funds have also made changes to their positions in ATVI. Morgan Stanley raised its position in shares of Activision Blizzard by 7.3% in the 2nd quarter. Morgan Stanley now owns 10,097,483 shares of the company’s stock worth $963,703,000 after purchasing an additional 687,258 shares during the last quarter. Banque Pictet & Cie SA raised its position in Activision Blizzard by 29.5% in the 3rd quarter. Banque Pictet & Cie SA now owns 19,940 shares of the company’s stock worth $1,544,000 after buying an additional 4,542 shares during the last quarter. Heritage Wealth Management LLC raised its position in Activision Blizzard by 11.6% in the 3rd quarter. Heritage Wealth Management LLC now owns 1,997 shares of the company’s stock worth $155,000 after buying an additional 208 shares during the last quarter. Forsta AP Fonden raised its position in Activision Blizzard by 5.7% in the 3rd quarter. Forsta AP Fonden now owns 151,000 shares of the company’s stock worth $11,686,000 after buying an additional 8,200 shares during the last quarter. Finally, Creative Planning raised its position in Activision Blizzard by 7.4% in the 3rd quarter. Creative Planning now owns 51,297 shares of the company’s stock worth $3,970,000 after buying an additional 3,533 shares during the last quarter. Hedge funds and other institutional investors own 83.11% of the company’s stock.

ATVI stock traded up $0.36 during midday trading on Friday, hitting $77.74. The company’s stock had a trading volume of 4,680,734 shares, compared to its average volume of 7,129,515. Activision Blizzard, Inc. has a 12 month low of $56.40 and a 12 month high of $99.46. The company has a quick ratio of 5.45, a current ratio of 5.45 and a debt-to-equity ratio of 0.20. The firm has a market capitalization of $60.78 billion, a price-to-earnings ratio of 24.60, a price-to-earnings-growth ratio of 2.00 and a beta of 0.56. The company has a 50 day moving average of $79.02 and a two-hundred day moving average of $73.58.

Activision Blizzard (NASDAQ:ATVIGet Rating) last issued its quarterly earnings data on Monday, April 25th. The company reported $0.64 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.71 by ($0.07). The firm had revenue of $1.77 billion for the quarter, compared to analysts’ expectations of $1.80 billion. Activision Blizzard had a return on equity of 12.70% and a net margin of 29.82%. The firm’s revenue was down 22.3% on a year-over-year basis. During the same period last year, the company earned $0.69 earnings per share. On average, analysts anticipate that Activision Blizzard, Inc. will post 2.68 earnings per share for the current fiscal year.

In related news, COO Daniel Alegre sold 14,563 shares of the stock in a transaction on Monday, March 14th. The stock was sold at an average price of $79.66, for a total transaction of $1,160,088.58. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Jesse Yang sold 2,072 shares of the stock in a transaction on Tuesday, March 15th. The shares were sold at an average price of $79.54, for a total value of $164,806.88. The disclosure for this sale can be found here. Insiders have sold a total of 27,447 shares of company stock worth $2,175,584 over the last ninety days. Insiders own 0.77% of the company’s stock.

ATVI has been the subject of a number of recent analyst reports. Stifel Nicolaus boosted their target price on Activision Blizzard from $77.00 to $95.00 and gave the stock a “buy” rating in a research report on Wednesday, January 19th. Zacks Investment Research raised shares of Activision Blizzard from a “strong sell” rating to a “hold” rating and set a $84.00 price target for the company in a research report on Tuesday, March 15th. BMO Capital Markets upped their price target on shares of Activision Blizzard from $90.00 to $95.00 in a research report on Thursday, January 20th. Credit Suisse Group lowered shares of Activision Blizzard from an “outperform” rating to a “neutral” rating and reduced their price target for the company from $125.00 to $95.00 in a research report on Wednesday, January 19th. Finally, StockNews.com assumed coverage on shares of Activision Blizzard in a research report on Thursday, March 31st. They set a “hold” rating for the company. Nineteen research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, Activision Blizzard currently has an average rating of “Hold” and an average price target of $95.86.

Activision Blizzard Company Profile (Get Rating)

Activision Blizzard, Inc, together with its subsidiaries, develops and publishes interactive entertainment content and services in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company operates through three segments: Activision, Blizzard, and King. It develops and distributes content and services on video game consoles, personal computers, and mobile devices, including subscription, full-game, and in-game sales, as well as by licensing software to third-party or related-party companies that distribute Activision and Blizzard products.

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

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