Ridgewood Investments LLC Has $111,000 Position in Activision Blizzard, Inc. (NASDAQ:ATVI)

Posted by Defense World Staff on Jul 10th, 2023

Ridgewood Investments LLC cut its stake in Activision Blizzard, Inc. (NASDAQ:ATVI – Free Report) by 80.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,302 shares of the company’s stock after selling 5,198 shares during the quarter. Ridgewood Investments LLC’s holdings in Activision Blizzard were worth $111,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Norges Bank bought a new position in Activision Blizzard during the fourth quarter valued at about $742,922,000. Flossbach Von Storch AG lifted its holdings in Activision Blizzard by 85.6% in the 4th quarter. Flossbach Von Storch AG now owns 11,427,722 shares of the company’s stock worth $874,792,000 after purchasing an additional 5,270,426 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its position in Activision Blizzard by 116.3% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 7,084,876 shares of the company’s stock worth $542,347,000 after purchasing an additional 3,809,814 shares during the period. Renaissance Technologies LLC acquired a new position in Activision Blizzard during the first quarter valued at approximately $281,635,000. Finally, Assenagon Asset Management S.A. raised its position in shares of Activision Blizzard by 898.1% in the fourth quarter. Assenagon Asset Management S.A. now owns 3,521,277 shares of the company’s stock valued at $269,554,000 after purchasing an additional 3,168,462 shares during the period. 80.86% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts recently issued reports on the stock. BNP Paribas raised shares of Activision Blizzard from a “neutral” rating to an “outperform” rating in a report on Friday, April 28th. Robert W. Baird decreased their price target on shares of Activision Blizzard from $95.00 to $90.00 in a report on Thursday, April 27th. BMO Capital Markets lifted their price objective on Activision Blizzard from $95.00 to $100.00 in a research note on Thursday, April 27th. Truist Financial increased their target price on Activision Blizzard from $81.00 to $84.00 in a research note on Wednesday, April 26th. Finally, Stifel Nicolaus dropped their price target on Activision Blizzard from $95.00 to $88.00 in a research report on Tuesday, May 2nd. Sixteen research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $91.53.

Activision Blizzard Stock Performance

NASDAQ:ATVI opened at $82.43 on Monday. The firm has a market capitalization of $64.65 billion, a PE ratio of 35.08, a price-to-earnings-growth ratio of 2.45 and a beta of 0.42. The company has a quick ratio of 5.15, a current ratio of 5.15 and a debt-to-equity ratio of 0.18. Activision Blizzard, Inc. has a 12-month low of $70.94 and a 12-month high of $87.01. The firm has a 50-day moving average price of $79.86 and a 200 day moving average price of $79.27.

Activision Blizzard (NASDAQ:ATVI – Free Report) last issued its earnings results on Wednesday, April 26th. The company reported $0.47 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.47. The business had revenue of $1.86 billion during the quarter, compared to analysts’ expectations of $1.83 billion. Activision Blizzard had a return on equity of 12.97% and a net margin of 22.82%. Research analysts anticipate that Activision Blizzard, Inc. will post 3.55 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Peter J. Nolan bought 13,160 shares of the stock in a transaction dated Wednesday, May 3rd. The shares were acquired at an average price of $75.99 per share, with a total value of $1,000,028.40. Following the acquisition, the director now owns 174,777 shares in the company, valued at $13,281,304.23. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 1.08% of the company’s stock.

Activision Blizzard Profile

(Free Report)

Activision Blizzard, Inc, together with its subsidiaries, develops and publishes interactive entertainment content and services in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company operates through three segments: Activision, Blizzard, and King. It develops and distributes content and services on video game consoles, personal computers, and mobile devices, including subscription, full-game, and in-game sales, as well as by licensing software to third-party or related-party companies that distribute Activision and Blizzard products.