Prudential Financial Inc. Buys 1,657,730 Shares of Activision Blizzard, Inc. (ATVI)

Prudential Financial Inc. grew its stake in Activision Blizzard, Inc. (NASDAQ:ATVI) by 108.6% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,184,687 shares of the company’s stock after acquiring an additional 1,657,730 shares during the quarter. Prudential Financial Inc. owned about 0.42% of Activision Blizzard worth $205,444,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Norinchukin Bank The grew its holdings in shares of Activision Blizzard by 7.1% during the 2nd quarter. Norinchukin Bank The now owns 48,118 shares of the company’s stock worth $2,770,000 after purchasing an additional 3,170 shares during the period. The Manufacturers Life Insurance Company grew its holdings in shares of Activision Blizzard by 39.0% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 1,101,771 shares of the company’s stock worth $63,430,000 after purchasing an additional 309,181 shares during the period. Oppenheimer & Co. Inc. grew its holdings in shares of Activision Blizzard by 94.4% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 66,349 shares of the company’s stock worth $4,280,000 after purchasing an additional 32,224 shares during the period. Quantitative Systematic Strategies LLC purchased a new position in shares of Activision Blizzard during the 3rd quarter worth $881,000. Finally, State Board of Administration of Florida Retirement System grew its holdings in shares of Activision Blizzard by 3.5% during the 3rd quarter. State Board of Administration of Florida Retirement System now owns 1,005,178 shares of the company’s stock worth $64,844,000 after purchasing an additional 34,070 shares during the period. 86.48% of the stock is owned by institutional investors and hedge funds.

Activision Blizzard, Inc. (ATVI) opened at $63.32 on Tuesday. The company has a debt-to-equity ratio of 0.44, a current ratio of 2.25 and a quick ratio of 2.22. The stock has a market capitalization of $47,876.22, a PE ratio of 43.37, a PEG ratio of 2.19 and a beta of 1.02. Activision Blizzard, Inc. has a 52 week low of $35.95 and a 52 week high of $67.40.

A number of research firms have recently weighed in on ATVI. BidaskClub cut Activision Blizzard from a “buy” rating to a “hold” rating in a report on Wednesday, December 27th. Vetr upgraded Activision Blizzard from a “sell” rating to a “hold” rating and set a $63.18 target price for the company in a report on Wednesday, December 20th. Zacks Investment Research cut Activision Blizzard from a “buy” rating to a “hold” rating in a report on Tuesday, December 26th. BMO Capital Markets restated a “market perform” rating and set a $62.00 target price (up from $60.00) on shares of Activision Blizzard in a report on Wednesday, September 20th. Finally, Hilliard Lyons upgraded Activision Blizzard from an “underperform” rating to a “neutral” rating in a report on Wednesday, November 8th. Six investment analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $69.39.

In other news, CEO Riccardo Zacconi sold 19,761 shares of Activision Blizzard stock in a transaction dated Friday, November 17th. The stock was sold at an average price of $63.64, for a total value of $1,257,590.04. Following the completion of the transaction, the chief executive officer now owns 41,435 shares in the company, valued at approximately $2,636,923.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 2.12% of the company’s stock.

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Activision Blizzard Profile

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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