Sumitomo Mitsui Asset Management Company LTD Has $30.56 Million Position in Activision Blizzard, Inc. (ATVI)
Sumitomo Mitsui Asset Management Company LTD boosted its holdings in Activision Blizzard, Inc. (NASDAQ:ATVI) by 1,299.4% during the first quarter, HoldingsChannel.com reports. The fund owned 671,201 shares of the company’s stock after purchasing an additional 623,239 shares during the period. Sumitomo Mitsui Asset Management Company LTD’s holdings in Activision Blizzard were worth $30,559,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also bought and sold shares of ATVI. Massey Quick Simon & CO. LLC bought a new stake in Activision Blizzard in the first quarter valued at about $25,000. Capital Investment Advisory Services LLC bought a new stake in Activision Blizzard in the fourth quarter valued at about $37,000. Lindbrook Capital LLC bought a new stake in Activision Blizzard in the fourth quarter valued at about $37,000. Pearl River Capital LLC bought a new stake in Activision Blizzard in the fourth quarter valued at about $41,000. Finally, Ipswich Investment Management Co. Inc. bought a new stake in Activision Blizzard during the fourth quarter worth about $45,000. 87.71% of the stock is currently owned by institutional investors and hedge funds.
Several brokerages have weighed in on ATVI. Wedbush reaffirmed an “outperform” rating and set a $56.00 price objective on shares of Activision Blizzard in a research note on Friday, May 3rd. Deutsche Bank began coverage on shares of Activision Blizzard in a research note on Tuesday, January 22nd. They set a “hold” rating and a $54.00 price objective on the stock. ValuEngine raised shares of Activision Blizzard from a “sell” rating to a “hold” rating in a research note on Wednesday, May 1st. Stifel Nicolaus decreased their price objective on shares of Activision Blizzard from $67.00 to $57.00 and set a “buy” rating on the stock in a research note on Monday, January 28th. Finally, Zacks Investment Research cut shares of Activision Blizzard from a “hold” rating to a “sell” rating in a research note on Friday, May 3rd. Eleven analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the stock. Activision Blizzard currently has an average rating of “Buy” and an average price target of $61.89.
Activision Blizzard (NASDAQ:ATVI) last released its earnings results on Thursday, May 2nd. The company reported $0.31 earnings per share for the quarter, beating analysts’ consensus estimates of $0.18 by $0.13. The business had revenue of $1.26 billion during the quarter, compared to the consensus estimate of $1.24 billion. Activision Blizzard had a net margin of 23.90% and a return on equity of 16.19%. The firm’s revenue for the quarter was down 8.7% compared to the same quarter last year. During the same quarter last year, the firm earned $0.38 earnings per share. On average, equities research analysts forecast that Activision Blizzard, Inc. will post 2 EPS for the current year.
In related news, Director Robert J. Morgado sold 15,000 shares of the firm’s stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $42.91, for a total value of $643,650.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.29% of the stock is currently owned by company insiders.
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Activision Blizzard Company Profile
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. It 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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