State of Michigan Retirement System boosted its holdings in shares of Activision Blizzard, Inc. (NASDAQ:ATVI) by 11.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 196,742 shares of the company’s stock after buying an additional 20,598 shares during the period. State of Michigan Retirement System’s holdings in Activision Blizzard were worth $14,933,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also made changes to their positions in the company. Capital International Investors boosted its stake in shares of Activision Blizzard by 4.0% in the first quarter. Capital International Investors now owns 59,362,226 shares of the company’s stock worth $3,530,860,000 after buying an additional 2,295,133 shares during the last quarter. BlackRock Inc. boosted its stake in shares of Activision Blizzard by 4.3% in the first quarter. BlackRock Inc. now owns 52,051,234 shares of the company’s stock worth $3,096,008,000 after buying an additional 2,149,264 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Activision Blizzard by 6.4% in the first quarter. Geode Capital Management LLC now owns 11,991,995 shares of the company’s stock worth $712,165,000 after buying an additional 721,775 shares during the last quarter. Morgan Stanley boosted its stake in shares of Activision Blizzard by 65.3% in the first quarter. Morgan Stanley now owns 8,571,832 shares of the company’s stock worth $509,853,000 after buying an additional 3,385,187 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA purchased a new stake in shares of Activision Blizzard in the first quarter worth about $327,047,000. 86.73% of the stock is currently owned by institutional investors.

In other Activision Blizzard news, CAO Jesse Yang bought 400 shares of the business’s stock in a transaction on Wednesday, May 27th. The stock was bought at an average price of $68.52 per share, with a total value of $27,408.00. Following the completion of the purchase, the chief accounting officer now directly owns 700 shares in the company, valued at $47,964. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Collister Johnson sold 24,000 shares of the firm’s stock in a transaction on Thursday, May 7th. The stock was sold at an average price of $72.31, for a total value of $1,735,440.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 324,000 shares of company stock valued at $23,504,440. 1.29% of the stock is owned by insiders.

A number of analysts have recently commented on the company. Wells Fargo & Co upped their target price on Activision Blizzard from $84.00 to $92.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 22nd. Cowen increased their price target on Activision Blizzard from $60.00 to $66.00 and gave the stock a “market perform” rating in a research report on Wednesday, May 6th. Piper Sandler increased their price target on Activision Blizzard from $79.00 to $86.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 7th. Jefferies Financial Group reiterated a “buy” rating and set a $80.00 price target on shares of Activision Blizzard in a research report on Monday, June 15th. Finally, JPMorgan Chase & Co. increased their price target on Activision Blizzard from $68.00 to $81.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 6th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, twenty-seven have assigned a buy rating and two have assigned a strong buy rating to the stock. Activision Blizzard has a consensus rating of “Buy” and an average target price of $78.47.

Shares of NASDAQ:ATVI traded up $0.93 during midday trading on Friday, hitting $82.63. The company had a trading volume of 8,923,266 shares, compared to its average volume of 4,912,484. The business’s 50-day simple moving average is $77.75 and its 200-day simple moving average is $67.08. The company has a debt-to-equity ratio of 0.21, a current ratio of 2.78 and a quick ratio of 2.78. The stock has a market cap of $63.66 billion, a price-to-earnings ratio of 40.91, a price-to-earnings-growth ratio of 1.98 and a beta of 0.61. Activision Blizzard, Inc. has a twelve month low of $44.91 and a twelve month high of $83.45.

Activision Blizzard (NASDAQ:ATVI) last posted its earnings results on Tuesday, May 5th. The company reported $0.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.38 by $0.20. The company had revenue of $1.52 billion during the quarter, compared to analysts’ expectations of $1.32 billion. Activision Blizzard had a return on equity of 14.57% and a net margin of 24.21%. The firm’s quarterly revenue was up 21.0% compared to the same quarter last year. During the same quarter last year, the firm earned $0.58 earnings per share. As a group, sell-side analysts forecast that Activision Blizzard, Inc. will post 2.54 EPS for the current year.

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.

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

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