CCM Investment Advisers LLC cut its position in shares of Activision Blizzard, Inc (NASDAQ:ATVI) by 3.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 171,275 shares of the company’s stock after selling 5,318 shares during the period. Activision Blizzard makes up approximately 1.9% of CCM Investment Advisers LLC’s holdings, making the stock its 23rd largest position. CCM Investment Advisers LLC’s holdings in Activision Blizzard were worth $9,860,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of ATVI. FMR LLC increased its position in shares of Activision Blizzard by 0.5% in the first quarter. FMR LLC now owns 112,040,404 shares of the company’s stock worth $5,586,335,000 after buying an additional 560,282 shares in the last quarter. BlackRock Inc. increased its position in shares of Activision Blizzard by 3,032.9% in the first quarter. BlackRock Inc. now owns 48,912,065 shares of the company’s stock worth $2,438,753,000 after buying an additional 47,350,818 shares in the last quarter. Vanguard Group Inc. increased its position in shares of Activision Blizzard by 6.8% in the first quarter. Vanguard Group Inc. now owns 46,195,943 shares of the company’s stock worth $2,303,328,000 after buying an additional 2,943,200 shares in the last quarter. State Street Corp increased its position in shares of Activision Blizzard by 2.1% in the first quarter. State Street Corp now owns 25,482,605 shares of the company’s stock worth $1,270,575,000 after buying an additional 523,213 shares in the last quarter. Finally, Janus Capital Management LLC increased its position in shares of Activision Blizzard by 4.0% in the first quarter. Janus Capital Management LLC now owns 18,069,393 shares of the company’s stock worth $900,934,000 after buying an additional 691,950 shares in the last quarter. Institutional investors own 87.37% of the company’s stock.

Activision Blizzard, Inc (ATVI) opened at 60.74 on Friday. Activision Blizzard, Inc has a 1-year low of $35.12 and a 1-year high of $64.06. The firm’s 50-day moving average price is $60.30 and its 200 day moving average price is $53.02. The firm has a market capitalization of $45.85 billion, a price-to-earnings ratio of 41.01 and a beta of 1.07.

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A number of equities analysts recently commented on the company. Cowen and Company increased their price objective on Activision Blizzard from $51.00 to $59.00 and gave the stock an “outperform” rating in a report on Monday, May 15th. Piper Jaffray Companies restated an “overweight” rating and issued a $69.00 price objective on shares of Activision Blizzard in a report on Friday, August 4th. Benchmark Co. increased their price objective on Activision Blizzard from $71.00 to $74.00 and gave the stock a “buy” rating in a report on Friday, August 4th. UBS AG increased their price objective on Activision Blizzard from $67.00 to $72.00 and gave the stock a “buy” rating in a report on Sunday, August 6th. Finally, MKM Partners restated a “neutral” rating and issued a $48.00 price objective (up previously from $44.00) on shares of Activision Blizzard in a report on Tuesday, May 2nd. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $62.36.

In related news, CEO of King Digital Riccardo Zacconi sold 19,761 shares of the company’s stock in a transaction on Wednesday, May 17th. The stock was sold at an average price of $55.45, for a total transaction of $1,095,747.45. Following the completion of the sale, the insider now directly owns 55,509 shares in the company, valued at approximately $3,077,974.05. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Brian G. Kelly sold 98,879 shares of the company’s stock in a transaction on Tuesday, August 8th. The stock was sold at an average price of $61.87, for a total value of $6,117,643.73. Following the sale, the director now owns 189,791 shares of the company’s stock, valued at $11,742,369.17. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 3,914,879 shares of company stock valued at $242,371,204. 2.12% of the stock is 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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Institutional Ownership by Quarter for Activision Blizzard (NASDAQ:ATVI)

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