Activision Blizzard, Inc. (ATVI) Receives $49.90 Average Price Target from Analysts

Shares of Activision Blizzard, Inc. (NASDAQ:ATVI) have earned a consensus rating of “Buy” from the twenty-two ratings firms that are presently covering the firm. One investment analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation and seventeen have given a buy recommendation to the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $53.38.

ATVI has been the subject of several recent research reports. Credit Suisse Group AG reduced their target price on shares of Activision Blizzard from $50.00 to $48.00 and set an “outperform” rating for the company in a report on Tuesday, January 31st. Wedbush restated an “outperform” rating and set a $53.00 target price on shares of Activision Blizzard in a report on Tuesday, January 31st. Benchmark Co. increased their target price on shares of Activision Blizzard from $50.87 to $53.90 and gave the stock a “buy” rating in a report on Friday, February 3rd. Jefferies Group LLC restated a “buy” rating and set a $55.00 target price on shares of Activision Blizzard in a report on Friday, February 10th. Finally, Robert W. Baird restated an “outperform” rating and set a $47.00 target price on shares of Activision Blizzard in a report on Friday, February 10th.

In related news, CEO Riccardo Zacconi sold 19,761 shares of Activision Blizzard stock in a transaction that occurred on Wednesday, May 17th. The shares were sold at an average price of $55.45, for a total transaction of $1,095,747.45. Following the sale, the chief executive officer now directly owns 55,509 shares of the company’s stock, valued at approximately $3,077,974.05. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Brian G. Kelly sold 420,063 shares of Activision Blizzard stock in a transaction that occurred on Tuesday, March 28th. The shares were sold at an average price of $49.90, for a total transaction of $20,961,143.70. The disclosure for this sale can be found here. Insiders have sold a total of 459,585 shares of company stock worth $22,954,238 over the last ninety days. 25.23% of the stock is currently owned by insiders.

Large investors have recently made changes to their positions in the stock. Physicians Financial Services Inc. increased its stake in Activision Blizzard by 21.7% in the third quarter. Physicians Financial Services Inc. now owns 2,808 shares of the company’s stock valued at $124,000 after buying an additional 500 shares in the last quarter. Guardian Life Insurance Co. of America increased its stake in Activision Blizzard by 1.9% in the first quarter. Guardian Life Insurance Co. of America now owns 2,671 shares of the company’s stock valued at $133,000 after buying an additional 51 shares in the last quarter. Benjamin F. Edwards & Company Inc. increased its stake in Activision Blizzard by 504.6% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 3,023 shares of the company’s stock valued at $151,000 after buying an additional 2,523 shares in the last quarter. Synovus Financial Corp acquired a new stake in Activision Blizzard during the third quarter valued at approximately $163,000. Finally, Stratos Wealth Partners LTD. acquired a new stake in Activision Blizzard during the first quarter valued at approximately $202,000. 86.29% of the stock is currently owned by institutional investors.

Activision Blizzard (NASDAQ:ATVI) opened at 55.88 on Monday. The stock has a market cap of $42.11 billion, a price-to-earnings ratio of 41.00 and a beta of 1.03. The firm’s 50 day moving average price is $51.91 and its 200-day moving average price is $44.11. Activision Blizzard has a 52 week low of $35.12 and a 52 week high of $57.30.

Activision Blizzard (NASDAQ:ATVI) last announced its earnings results on Thursday, May 4th. The company reported $0.27 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.16 by $0.11. Activision Blizzard had a net margin of 13.86% and a return on equity of 16.70%. The business had revenue of $1.20 billion during the quarter, compared to analysts’ expectations of $1.09 billion. During the same quarter in the prior year, the company posted $0.23 earnings per share. The firm’s revenue was up 31.7% on a year-over-year basis. Analysts expect that Activision Blizzard will post $1.99 EPS for the current year.

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About Activision Blizzard

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.

12 Month Chart for NASDAQ:ATVI

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