Davis R M Inc. Lowers Holdings in Activision Blizzard, Inc. (NASDAQ:ATVI)

Davis R M Inc. lessened its stake in Activision Blizzard, Inc. (NASDAQ:ATVI – Get Rating) by 3.5% in the 3rd quarter, Holdings Channel.com reports. The firm owned 274,065 shares of the company’s stock after selling 10,073 shares during the quarter. Davis R M Inc.’s holdings in Activision Blizzard were worth $20,374,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of ATVI. Joseph P. Lucia & Associates LLC purchased a new position in shares of Activision Blizzard in the 2nd quarter worth about $25,000. Householder Group Estate & Retirement Specialist LLC purchased a new position in shares of Activision Blizzard in the 3rd quarter worth about $33,000. Activest Wealth Management raised its position in shares of Activision Blizzard by 203.9% in the 3rd quarter. Activest Wealth Management now owns 471 shares of the company’s stock worth $35,000 after purchasing an additional 316 shares during the last quarter. Fairfield Bush & CO. purchased a new position in shares of Activision Blizzard in the 1st quarter worth about $41,000. Finally, Rocky Mountain Advisers LLC raised its position in shares of Activision Blizzard by 5,384.6% in the 2nd quarter. Rocky Mountain Advisers LLC now owns 713 shares of the company’s stock worth $56,000 after purchasing an additional 700 shares during the last quarter. Hedge funds and other institutional investors own 79.34% of the company’s stock.

Wall Street Analysts Forecast Growth

ATVI has been the subject of several research analyst reports. Morgan Stanley upgraded Activision Blizzard from an “equal weight” rating to an “overweight” rating and set a $95.00 price objective for the company in a report on Monday, November 28th. Wells Fargo & Company upgraded Activision Blizzard from an “equal weight” rating to an “overweight” rating and set a $95.00 price objective for the company in a report on Monday, November 28th. Benchmark reiterated a “buy” rating and issued a $100.00 price objective on shares of Activision Blizzard in a report on Friday, December 9th. JPMorgan Chase & Co. reduced their price objective on Activision Blizzard from $95.00 to $86.00 in a report on Monday, November 28th. Finally, Wedbush reiterated an “outperform” rating and issued a $95.00 price objective on shares of Activision Blizzard in a report on Friday, January 27th. One equities research analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $91.85.

Activision Blizzard Stock Performance

Shares of Activision Blizzard stock traded down $0.32 during trading hours on Wednesday, reaching $76.25. 1,055,714 shares of the stock traded hands, compared to its average volume of 5,219,472. The company has a 50 day moving average price of $75.93 and a 200 day moving average price of $76.17. The firm has a market capitalization of $59.68 billion, a price-to-earnings ratio of 35.95, a P/E/G ratio of 2.30 and a beta of 0.47. The company has a quick ratio of 5.76, a current ratio of 5.76 and a debt-to-equity ratio of 0.19. Activision Blizzard, Inc. has a one year low of $70.94 and a one year high of $82.00.

Activision Blizzard (NASDAQ:ATVI – Get Rating) last announced its quarterly earnings data on Monday, November 7th. The company reported $0.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.42 by $0.16. The company had revenue of $1.83 billion during the quarter, compared to the consensus estimate of $1.70 billion. Activision Blizzard had a return on equity of 9.64% and a net margin of 22.75%. On average, equities research analysts expect that Activision Blizzard, Inc. will post 2.61 earnings per share for the current fiscal year.

About Activision Blizzard

(Get Rating)

Activision Blizzard, Inc is a developer and publisher of interactive entertainment content and services. It operates through the following segments: Activision Publishing, Blizzard Entertainment, and King Digital Entertainment. The Activision Publishing segment delivers content through both premium and free-to-play offerings and generates revenue from full-game and in-game sales, as well as by licensing software to third-party or related-party companies that distribute Activision products.