Activision Blizzard (NASDAQ:ATVI) had its price target increased by Morgan Stanley from $53.00 to $55.00 in a report issued on Monday, BenzingaRatingsTable reports. The brokerage currently has an overweight rating on the stock.
Other equities research analysts have also recently issued reports about the company. Wedbush reissued a buy rating and issued a $24.00 target price on shares of Miragen Therapeutics in a research note on Tuesday, May 21st. Goldman Sachs Group set a $27.00 target price on Melco Resorts & Entertainment and gave the stock a buy rating in a research note on Tuesday, May 28th. William Blair reissued an outperform rating on shares of Activision Blizzard in a research note on Friday, May 3rd. ValuEngine cut Zosano Pharma from a buy rating to a hold rating in a research note on Wednesday, May 1st. Finally, BidaskClub raised Zillow Group from a hold rating to a buy rating in a research note on Wednesday, May 22nd. Fourteen investment analysts have rated the stock with a hold rating and twenty have issued a buy rating to the stock. Activision Blizzard presently has a consensus rating of Buy and a consensus target price of $60.03.
Shares of ATVI stock opened at $46.68 on Monday. The stock has a market capitalization of $35.99 billion, a PE ratio of 19.53, a price-to-earnings-growth ratio of 2.34 and a beta of 0.90. The business has a fifty day moving average price of $46.07. Activision Blizzard has a twelve month low of $39.85 and a twelve month high of $84.68. 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 released its earnings results on Thursday, May 2nd. The company reported $0.31 EPS for the quarter, topping 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 analysts’ expectations of $1.24 billion. During the same period in the prior year, the firm posted $0.38 earnings per share. The company’s quarterly revenue was down 8.7% on a year-over-year basis. As a group, equities research analysts predict that Activision Blizzard will post 1.98 earnings per share for the current year.
In other Activision Blizzard news, insider Christopher B. Walther sold 11,333 shares of the stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $47.91, for a total value of $542,964.03. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Christopher B. Walther sold 2,333 shares of the stock in a transaction dated Wednesday, June 5th. The shares were sold at an average price of $44.00, for a total value of $102,652.00. The disclosure for this sale can be found here. In the last three months, insiders sold 15,999 shares of company stock worth $752,724. 1.29% of the stock is owned by corporate insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. HL Financial Services LLC raised its stake in shares of Activision Blizzard by 3.9% in the first quarter. HL Financial Services LLC now owns 5,746 shares of the company’s stock worth $262,000 after buying an additional 216 shares during the period. Cornerstone Advisors Inc. raised its stake in shares of Activision Blizzard by 13.1% in the second quarter. Cornerstone Advisors Inc. now owns 1,972 shares of the company’s stock worth $93,000 after buying an additional 229 shares during the period. Regentatlantic Capital LLC raised its stake in shares of Activision Blizzard by 4.5% in the first quarter. Regentatlantic Capital LLC now owns 5,971 shares of the company’s stock worth $272,000 after buying an additional 257 shares during the period. Lindbrook Capital LLC raised its stake in shares of Activision Blizzard by 33.9% in the first quarter. Lindbrook Capital LLC now owns 1,083 shares of the company’s stock worth $49,000 after buying an additional 274 shares during the period. Finally, Kaizen Advisory LLC raised its stake in shares of Activision Blizzard by 15.3% in the fourth quarter. Kaizen Advisory LLC now owns 2,163 shares of the company’s stock worth $101,000 after buying an additional 287 shares during the period. 86.35% of the stock is currently owned by hedge funds and other institutional investors.
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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