Pictet Asset Management Ltd. trimmed its position in shares of Activision Blizzard, Inc. (NASDAQ:ATVI) by 4.1% in the 1st quarter, Holdings Channel reports. The institutional investor owned 331,605 shares of the company’s stock after selling 14,300 shares during the period. Pictet Asset Management Ltd.’s holdings in Activision Blizzard were worth $15,098,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the business. Massey Quick Simon & CO. LLC acquired a new position in Activision Blizzard in the 1st quarter worth approximately $25,000. Nelson Van Denburg & Campbell Wealth Management Group LLC acquired a new position in Activision Blizzard in the 1st quarter worth approximately $27,000. Capital Investment Advisory Services LLC acquired a new position in Activision Blizzard in the 4th quarter worth approximately $37,000. Lindbrook Capital LLC acquired a new position in Activision Blizzard in the 4th quarter worth approximately $37,000. Finally, Pearl River Capital LLC acquired a new position in Activision Blizzard in the 4th quarter worth approximately $41,000. 86.86% of the stock is owned by institutional investors and hedge funds.

In other news, Director Robert J. Morgado sold 15,000 shares of the stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $42.91, for a total transaction of $643,650.00. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Christopher B. Walther sold 2,333 shares of the stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $45.91, for a total value of $107,108.03. The disclosure for this sale can be found here. Company insiders own 1.31% of the company’s stock.

Several equities analysts recently weighed in on ATVI shares. Robert W. Baird cut their price target on shares of Activision Blizzard from $69.00 to $58.00 and set an “outperform” rating on the stock in a report on Wednesday, February 13th. Buckingham Research started coverage on shares of Activision Blizzard in a report on Friday, April 12th. They issued a “neutral” rating on the stock. BidaskClub upgraded shares of Activision Blizzard from a “hold” rating to a “buy” rating in a report on Saturday, May 4th. Zacks Investment Research upgraded shares of Activision Blizzard from a “strong sell” rating to a “hold” rating in a report on Friday, March 15th. Finally, Stifel Nicolaus cut their price target on shares of Activision Blizzard from $57.00 to $52.00 and set a “buy” rating on the stock in a report on Tuesday, February 19th. Twelve research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $61.57.

Shares of NASDAQ:ATVI opened at $42.38 on Tuesday. Activision Blizzard, Inc. has a 1 year low of $39.85 and a 1 year high of $84.68. The company has a market cap of $33.22 billion, a PE ratio of 17.73, a price-to-earnings-growth ratio of 2.15 and a beta of 0.89. The company has a debt-to-equity ratio of 0.23, a quick ratio of 2.61 and a current ratio of 2.63.

Activision Blizzard (NASDAQ:ATVI) last announced its earnings results on Thursday, May 2nd. The company reported $0.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.18 by $0.13. Activision Blizzard had a return on equity of 16.19% and a net margin of 23.90%. The firm had revenue of $1.26 billion for the quarter, compared to analyst estimates of $1.24 billion. During the same quarter last year, the firm posted $0.38 EPS. The business’s revenue was down 8.7% on a year-over-year basis. Sell-side analysts expect that Activision Blizzard, Inc. will post 2 EPS for the current fiscal year.

ILLEGAL ACTIVITY WARNING: This piece of content was originally reported by Daily Political and is the property of of Daily Political. If you are viewing this piece of content on another website, it was stolen and republished in violation of international trademark & copyright legislation. The legal version of this piece of content can be viewed at https://www.dailypolitical.com/2019/06/04/pictet-asset-management-ltd-has-15-10-million-holdings-in-activision-blizzard-inc-atvi.html.

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. 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.

Further Reading: Net Margin

Want to see what other hedge funds are holding ATVI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Activision Blizzard, Inc. (NASDAQ:ATVI).

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

Receive News & Ratings for Activision Blizzard Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Activision Blizzard and related companies with MarketBeat.com's FREE daily email newsletter.