Community Trust & Investment Co. Sells 1,667 Shares of Activision Blizzard, Inc. (NASDAQ:ATVI)

Community Trust & Investment Co. reduced its position in Activision Blizzard, Inc. (NASDAQ:ATVI – Get Rating) by 0.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 288,647 shares of the company’s stock after selling 1,667 shares during the period. Activision Blizzard makes up approximately 2.0% of Community Trust & Investment Co.’s holdings, making the stock its 10th largest holding. Community Trust & Investment Co.’s holdings in Activision Blizzard were worth $22,096,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Householder Group Estate & Retirement Specialist LLC purchased a new stake in Activision Blizzard during the 3rd quarter worth approximately $33,000. Activest Wealth Management lifted its holdings in shares of Activision Blizzard by 203.9% in the third quarter. Activest Wealth Management now owns 471 shares of the company’s stock valued at $35,000 after buying an additional 316 shares during the period. Fairfield Bush & CO. acquired a new stake in shares of Activision Blizzard in the first quarter valued at $41,000. Evermay Wealth Management LLC lifted its holdings in shares of Activision Blizzard by 33.3% in the third quarter. Evermay Wealth Management LLC now owns 684 shares of the company’s stock valued at $51,000 after buying an additional 171 shares during the period. Finally, Creative Financial Designs Inc. ADV acquired a new stake in shares of Activision Blizzard during the third quarter worth $58,000. 79.34% of the stock is owned by institutional investors and hedge funds.

Activision Blizzard Stock Performance

NASDAQ ATVI traded down $0.88 during trading on Friday, reaching $78.99. 9,409,231 shares of the company’s stock were exchanged, compared to its average volume of 6,388,847. The business has a 50 day moving average price of $76.72 and a 200-day moving average price of $75.62. The stock has a market capitalization of $61.95 billion, a P/E ratio of 41.14, a PEG ratio of 2.41 and a beta of 0.42. The company has a debt-to-equity ratio of 0.19, a current ratio of 4.07 and a quick ratio of 4.07. Activision Blizzard, Inc. has a fifty-two week low of $70.94 and a fifty-two week high of $81.50.

Analysts Set New Price Targets

ATVI has been the topic of several recent analyst reports. Deutsche Bank Aktiengesellschaft raised Activision Blizzard from a “hold” rating to a “buy” rating and upped their price target for the company from $83.00 to $90.00 in a research report on Thursday, February 16th. Wells Fargo & Company upgraded Activision Blizzard from an “equal weight” rating to an “overweight” rating and set a $95.00 target price for the company in a research note on Monday, November 28th. Robert W. Baird upgraded Activision Blizzard from a “neutral” rating to an “outperform” rating and set a $95.00 price objective for the company in a research report on Tuesday, November 22nd. Wedbush reiterated an “outperform” rating and issued a $95.00 price objective on shares of Activision Blizzard in a research report on Friday, January 27th. Finally, Roth Capital reissued a “buy” rating on shares of Activision Blizzard in a report on Friday, February 10th. One investment analyst has rated the stock with a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $91.36.

Insiders Place Their Bets

In other news, COO Daniel Alegre sold 8,847 shares of the business’s stock in a transaction that occurred on Monday, March 13th. The stock was sold at an average price of $78.50, for a total transaction of $694,489.50. Following the completion of the sale, the chief operating officer now owns 156,170 shares in the company, valued at $12,259,345. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 1.10% of the company’s stock.

Activision Blizzard Company Profile

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Activision Blizzard, Inc engages in the development and publication of entertainment content and services. It operates through the following segments: Activision Publishing Inc, Blizzard Entertainment Inc, and King Digital Entertainment. The Activision Publishing Inc segment delivers content through both premium and free-to-play offerings, as well as by licensing software to third-party or related-party companies that distribute Activision products.