New York Life Trust Co Lowers stake in Activision Blizzard (ATVI)

Activision Blizzard (ATVI) : New York Life Trust Co reduced its stake in Activision Blizzard by 21.69% during the most recent quarter end. The investment management company now holds a total of 2,881 shares of Activision Blizzard which is valued at $118,524 after selling 798 shares in Activision Blizzard , the firm said in a disclosure report filed with the SEC on Aug 15, 2016.Activision Blizzard makes up approximately 0.55% of New York Life Trust Co’s portfolio.

Other Hedge Funds, Including , Renaissance Technologies added ATVI to its portfolio by purchasing 923,298 company shares during the most recent quarter which is valued at $37,984,480. Activision Blizzard makes up approx 0.07% of Renaissance Technologies’s portfolio. Wealth Enhancement Advisory Services added ATVI to its portfolio by purchasing 33,737 company shares during the most recent quarter which is valued at $1,354,878. Activision Blizzard makes up approx 0.24% of Wealth Enhancement Advisory Services’s portfolio.Deltec Asset Management boosted its stake in ATVI in the latest quarter, The investment management firm added 20,000 additional shares and now holds a total of 60,000 shares of Activision Blizzard which is valued at $2,453,400. Activision Blizzard makes up approx 0.59% of Deltec Asset Management’s portfolio.

Activision Blizzard opened for trading at $41.44 and hit $42.28 on the upside on Thursday, eventually ending the session at $42.15, with a gain of 1.89% or 0.78 points. The heightened volatility saw the trading volume jump to 78,21,223 shares. Company has a market cap of $31,253 M.

On the company’s financial health, Activision Blizzard reported $0.45 EPS for the quarter, beating the analyst consensus estimate by $ 0.03 according to the earnings call on Aug 4, 2016. Analyst had a consensus of $0.42. The company had revenue of $1609.00 million for the quarter, compared to analysts expectations of $1447.97 million. The company’s revenue was up 112.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.13 EPS.

Many Wall Street Analysts have commented on Activision Blizzard. Company shares were Reiterated by Mizuho on Sep 6, 2016 to “Buy”, Firm has raised the Price Target to $ 48 from a previous price target of $46 .Company shares were Reiterated by Stifel on Aug 8, 2016 to “Buy”, Firm has raised the Price Target to $ 46 from a previous price target of $45 .Company shares were Reiterated by Mizuho on Aug 5, 2016 to “Buy”, Firm has raised the Price Target to $ 46 from a previous price target of $42 .

Activision Blizzard Inc. is a developer and publisher of online personal computer (PC) video game console handheld mobile and tablet games. The Company offers games that operate on the Microsoft Corporation (Microsoft) Xbox One (Xbox One) and Xbox 360 (Xbox 360) Nintendo Co. Ltd. (Nintendo) Wii U (Wii U) and Wii (Wii) and Sony Computer Entertainment Inc. (Sony) PlayStation 4 (PS4) and PlayStation 3 (PS3) console systems. The Company also develops products spanning other genres including first-person action action/adventure role-playing simulation and strategy. It distributes interactive entertainment hardware and software products in Europe through its European distribution subsidiaries: Centresoft in the United Kingdom and NBG in Germany. The Company’s operating segments include Activision Publishing Inc. and its subsidiaries Blizzard Entertainment Inc. and its subsidiaries and Activision Blizzard Distribution.

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