Shares of Activision Blizzard, Inc. (NASDAQ:ATVI) have earned a consensus rating of “Buy” from the thirty-six ratings firms that are currently covering the firm, Marketbeat reports. Eight investment analysts have rated the stock with a hold recommendation and twenty-six have issued a buy recommendation on the company. The average 1 year price target among brokerages that have covered the stock in the last year is $61.90.
A number of research firms have recently commented on ATVI. UBS Group reissued a “buy” rating and issued a $56.00 target price (up previously from $52.00) on shares of Activision Blizzard in a report on Friday, August 9th. MKM Partners reissued a “neutral” rating and issued a $47.00 target price (up previously from $45.00) on shares of Activision Blizzard in a report on Friday, August 9th. TheStreet raised shares of Activision Blizzard from a “c+” rating to a “b-” rating in a report on Tuesday, August 13th. BMO Capital Markets raised shares of Activision Blizzard from a “market perform” rating to an “outperform” rating and increased their target price for the stock from $43.00 to $60.00 in a report on Wednesday, September 4th. Finally, Citigroup began coverage on shares of Activision Blizzard in a report on Friday, June 7th. They issued a “neutral” rating and a $47.00 target price for the company.
Shares of Activision Blizzard stock opened at $55.72 on Wednesday. The firm has a 50-day moving average of $49.53 and a 200-day moving average of $46.58. The stock has a market cap of $42.53 billion, a PE ratio of 23.31, a PEG ratio of 2.20 and a beta of 0.89. Activision Blizzard has a 52-week low of $39.85 and a 52-week high of $84.68. The company has a debt-to-equity ratio of 0.22, a quick ratio of 3.43 and a current ratio of 3.46.
Activision Blizzard (NASDAQ:ATVI) last announced its earnings results on Thursday, August 8th. The company reported $0.34 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.20 by $0.14. Activision Blizzard had a net margin of 23.69% and a return on equity of 15.54%. The company had revenue of $1.21 billion during the quarter, compared to analysts’ expectations of $1.19 billion. During the same quarter in the previous year, the business posted $0.41 earnings per share. Activision Blizzard’s quarterly revenue was down 12.9% on a year-over-year basis. Equities research analysts predict that Activision Blizzard will post 2 earnings per share for the current fiscal year.
In other Activision Blizzard news, insider Christopher B. Walther sold 5,333 shares of the stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $50.34, for a total transaction of $268,463.22. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Brian M. Stolz sold 134,845 shares of the stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $47.80, for a total transaction of $6,445,591.00. Following the sale, the insider now directly owns 58,563 shares of the company’s stock, valued at approximately $2,799,311.40. The disclosure for this sale can be found here. Insiders sold 156,844 shares of company stock valued at $7,528,095 in the last ninety days. 1.31% of the stock is currently owned by insiders.
Large investors have recently added to or reduced their stakes in the business. HL Financial Services LLC lifted its stake in Activision Blizzard by 3.9% during the 1st quarter. HL Financial Services LLC now owns 5,746 shares of the company’s stock valued at $262,000 after acquiring an additional 216 shares in the last quarter. Cornerstone Advisors Inc. raised its holdings in Activision Blizzard by 13.1% in the 2nd quarter. Cornerstone Advisors Inc. now owns 1,972 shares of the company’s stock valued at $93,000 after buying an additional 229 shares during the period. Dowling & Yahnke LLC raised its holdings in Activision Blizzard by 1.0% in the 2nd quarter. Dowling & Yahnke LLC now owns 26,404 shares of the company’s stock valued at $1,246,000 after buying an additional 258 shares during the period. Executive Wealth Management LLC raised its holdings in Activision Blizzard by 42.5% in the 2nd quarter. Executive Wealth Management LLC now owns 1,026 shares of the company’s stock valued at $48,000 after buying an additional 306 shares during the period. Finally, Pitcairn Co. raised its holdings in Activision Blizzard by 6.1% in the 2nd quarter. Pitcairn Co. now owns 6,223 shares of the company’s stock valued at $294,000 after buying an additional 358 shares during the period. 86.97% of the stock is owned by institutional investors and hedge funds.
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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