Baird Financial Group Inc. Increases Holdings in Activision Blizzard, Inc. (NASDAQ:ATVI)

Baird Financial Group Inc. raised its stake in shares of Activision Blizzard, Inc. (NASDAQ:ATVI) by 0.1% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 108,597 shares of the company’s stock after buying an additional 145 shares during the quarter. Baird Financial Group Inc.’s holdings in Activision Blizzard were worth $10,100,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of ATVI. Allred Capital Management LLC bought a new stake in shares of Activision Blizzard in the 1st quarter worth $25,000. Burleson & Company LLC bought a new stake in shares of Activision Blizzard in the 1st quarter worth $25,000. TFO TDC LLC bought a new stake in shares of Activision Blizzard in the 1st quarter worth $28,000. Standard Family Office LLC increased its holdings in shares of Activision Blizzard by 833.3% in the 1st quarter. Standard Family Office LLC now owns 336 shares of the company’s stock worth $31,000 after purchasing an additional 300 shares in the last quarter. Finally, Freedman Financial Associates Inc. bought a new stake in shares of Activision Blizzard in the 4th quarter worth $32,000. 85.91% of the stock is owned by institutional investors and hedge funds.

Shares of Activision Blizzard stock opened at $91.82 on Tuesday. The firm has a 50-day simple moving average of $94.70. Activision Blizzard, Inc. has a 52 week low of $71.19 and a 52 week high of $104.53. The stock has a market capitalization of $71.35 billion, a P/E ratio of 30.92, a price-to-earnings-growth ratio of 1.57 and a beta of 0.61. The company has a quick ratio of 3.43, a current ratio of 3.43 and a debt-to-equity ratio of 0.24.

Activision Blizzard (NASDAQ:ATVI) last posted its earnings results on Monday, May 3rd. The company reported $0.84 EPS for the quarter, topping analysts’ consensus estimates of $0.65 by $0.19. The company had revenue of $2.07 billion for the quarter, compared to the consensus estimate of $1.77 billion. Activision Blizzard had a return on equity of 18.18% and a net margin of 26.95%. The firm’s revenue for the quarter was up 36.0% on a year-over-year basis. During the same period in the previous year, the business earned $0.65 earnings per share. Analysts forecast that Activision Blizzard, Inc. will post 3.42 earnings per share for the current year.

In other news, Director Peter J. Nolan bought 2,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 12th. The shares were bought at an average cost of $93.86 per share, for a total transaction of $187,720.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Armin Zerza sold 23,723 shares of the business’s stock in a transaction dated Tuesday, May 11th. The stock was sold at an average price of $94.86, for a total value of $2,250,363.78. Following the completion of the sale, the chief financial officer now owns 162,438 shares in the company, valued at $15,408,868.68. The disclosure for this sale can be found here. Insiders purchased 22,000 shares of company stock worth $2,089,120 over the last quarter. 0.77% of the stock is owned by company insiders.

Several analysts recently commented on the company. BMO Capital Markets raised Activision Blizzard from a “market perform” rating to an “outperform” rating and set a $116.00 price objective for the company in a report on Monday, May 17th. Raymond James reaffirmed a “buy” rating on shares of Activision Blizzard in a report on Monday, February 22nd. Morgan Stanley lifted their price objective on Activision Blizzard from $115.00 to $120.00 and gave the stock an “overweight” rating in a report on Wednesday, May 5th. Zacks Investment Research lowered Activision Blizzard from a “buy” rating to a “hold” rating and set a $101.00 price objective for the company. in a report on Tuesday, April 20th. Finally, Benchmark lifted their price objective on Activision Blizzard from $118.00 to $120.00 and gave the stock a “buy” rating in a report on Monday, May 3rd. Two research analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $109.64.

About Activision Blizzard

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 Publishing, Inc; Blizzard Entertainment, Inc; and King Digital Entertainment.

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

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