Franklin Resources Inc. increased its stake in shares of Activision Blizzard, Inc. (NASDAQ:ATVI) by 19.9% in the third quarter, HoldingsChannel reports. The firm owned 841,971 shares of the company’s stock after buying an additional 139,806 shares during the quarter. Franklin Resources Inc.’s holdings in Activision Blizzard were worth $70,044,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of ATVI. Asset Advisors Investment Management LLC purchased a new stake in Activision Blizzard in the 3rd quarter valued at about $100,000. Ashburton Jersey Ltd purchased a new stake in Activision Blizzard in the 2nd quarter valued at about $107,000. Quad Cities Investment Group LLC purchased a new stake in Activision Blizzard in the 2nd quarter valued at about $114,000. Psagot Investment House Ltd. purchased a new stake in Activision Blizzard in the 3rd quarter valued at about $135,000. Finally, Acadian Asset Management LLC purchased a new stake in Activision Blizzard in the 2nd quarter valued at about $156,000. Hedge funds and other institutional investors own 89.76% of the company’s stock.

Shares of ATVI opened at $48.15 on Friday. Activision Blizzard, Inc. has a 52-week low of $45.50 and a 52-week high of $84.68. The company has a market capitalization of $35.50 billion, a price-to-earnings ratio of 23.49, a price-to-earnings-growth ratio of 1.45 and a beta of 1.05. The company has a current ratio of 2.09, a quick ratio of 2.01 and a debt-to-equity ratio of 0.25.

Activision Blizzard (NASDAQ:ATVI) last issued its quarterly earnings results on Thursday, November 8th. The company reported $0.47 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.50 by ($0.03). Activision Blizzard had a net margin of 8.07% and a return on equity of 15.44%. The firm had revenue of $1.66 billion during the quarter, compared to the consensus estimate of $1.66 billion. During the same quarter last year, the firm posted $0.25 earnings per share. Activision Blizzard’s revenue was down 12.6% compared to the same quarter last year. Sell-side analysts expect that Activision Blizzard, Inc. will post 2.35 earnings per share for the current fiscal year.

Several research firms have commented on ATVI. JPMorgan Chase & Co. upgraded Activision Blizzard from a “neutral” rating to an “overweight” rating and lowered their price target for the company from $72.00 to $66.00 in a report on Thursday. Gabelli began coverage on Activision Blizzard in a report on Tuesday. They issued a “buy” rating and a $64.00 price target for the company. BidaskClub cut Activision Blizzard from a “sell” rating to a “strong sell” rating in a report on Friday, November 16th. Zacks Investment Research cut Activision Blizzard from a “buy” rating to a “hold” rating in a report on Thursday, November 15th. Finally, SunTrust Banks set a $65.00 price objective on Activision Blizzard and gave the company a “buy” rating in a research note on Thursday, November 15th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $75.38.

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About Activision Blizzard

Activision Blizzard, Inc develops and distributes content and services on video game consoles, personal computers (PC), and mobile devices. The company operates through three segments: Activision Publishing, Inc; Blizzard Entertainment, Inc; and King Digital Entertainment. The company develops, publishes, and sells interactive software products and entertainment content for the console and PC platforms through retail and digital channels, including subscription, full-game, and in-game sales, as well as by licensing software to third-party or related-party companies; and offers downloadable content.

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

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