Nippon Life Insurance Co. cut its position in shares of Activision Blizzard, Inc (NASDAQ:ATVI) by 2.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 28,992 shares of the company’s stock after selling 797 shares during the period. Nippon Life Insurance Co.’s holdings in Activision Blizzard were worth $1,669,000 at the end of the most recent reporting period.
Several other hedge funds have also recently made changes to their positions in ATVI. Guardian Life Insurance Co. of America increased its position in shares of Activision Blizzard by 1.9% in the first quarter. Guardian Life Insurance Co. of America now owns 2,671 shares of the company’s stock worth $133,000 after buying an additional 51 shares during the last quarter. Shine Investment Advisory Services Inc. bought a new stake in shares of Activision Blizzard during the second quarter worth $142,000. Huntington National Bank raised its stake in shares of Activision Blizzard by 122.6% in the second quarter. Huntington National Bank now owns 2,480 shares of the company’s stock worth $143,000 after buying an additional 1,366 shares during the period. Benjamin F. Edwards & Company Inc. raised its stake in shares of Activision Blizzard by 504.6% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 3,023 shares of the company’s stock worth $151,000 after buying an additional 2,523 shares during the period. Finally, Stratos Wealth Partners LTD. bought a new stake in shares of Activision Blizzard during the first quarter worth $202,000. Hedge funds and other institutional investors own 87.39% of the company’s stock.
Shares of Activision Blizzard, Inc (ATVI) opened at 62.01 on Friday. The firm’s 50-day moving average is $60.72 and its 200 day moving average is $53.83. The stock has a market capitalization of $46.81 billion, a P/E ratio of 41.87 and a beta of 1.07. Activision Blizzard, Inc has a 1-year low of $35.12 and a 1-year high of $64.06.
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A number of equities research analysts have recently weighed in on the stock. UBS AG reissued a “buy” rating and set a $60.00 price objective (up from $57.00) on shares of Activision Blizzard in a report on Friday, May 5th. Wedbush set a $63.00 price target on shares of Activision Blizzard and gave the company a “buy” rating in a report on Saturday, May 6th. BidaskClub raised shares of Activision Blizzard from a “hold” rating to a “buy” rating in a report on Saturday. Piper Jaffray Companies reissued an “overweight” rating and set a $65.00 target price on shares of Activision Blizzard in a research note on Tuesday, July 18th. Finally, Argus reissued a “buy” rating and set a $70.00 target price (up from $65.00) on shares of Activision Blizzard in a research note on Wednesday. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $62.56.
In other news, CEO Riccardo Zacconi sold 19,761 shares of the firm’s stock in a transaction on Friday, August 18th. The shares were sold at an average price of $61.32, for a total value of $1,211,744.52. Following the sale, the chief executive officer now owns 48,472 shares in the company, valued at $2,972,303.04. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Brian G. Kelly sold 111,239 shares of the firm’s stock in a transaction on Monday, August 7th. The stock was sold at an average price of $62.44, for a total transaction of $6,945,763.16. Following the completion of the sale, the director now owns 189,791 shares in the company, valued at approximately $11,850,550.04. The disclosure for this sale can be found here. In the last 90 days, insiders sold 4,074,879 shares of company stock worth $252,196,001. 2.12% of the stock is currently owned by corporate insiders.
About Activision Blizzard
Activision Blizzard, Inc is a developer and publisher of interactive entertainment content and services. The Company develops and distributes content and services across various gaming platforms, including video game consoles, personal computers (PC) and mobile devices. Its segments include Activision Publishing, Inc (Activision), Blizzard Entertainment, Inc (Blizzard), King Digital Entertainment (King) and Other.
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