Activision Blizzard (NASDAQ:ATVI) had its price objective hoisted by investment analysts at Bank of America from $57.00 to $62.00 in a research note issued to investors on Thursday, BenzingaRatingsTable reports. The firm presently has a “buy” rating on the stock. Bank of America‘s price target would suggest a potential upside of 10.26% from the stock’s current price.
ATVI has been the topic of a number of other research reports. Credit Suisse Group lowered their target price on Activision Blizzard from $65.00 to $64.00 and set an “outperform” rating on the stock in a research note on Thursday, August 8th. Morgan Stanley reiterated an “overweight” rating and set a $57.00 target price (up previously from $55.00) on shares of Activision Blizzard in a research note on Friday, August 9th. Goldman Sachs Group upgraded Activision Blizzard from a “neutral” rating to a “buy” rating and increased their target price for the stock from $50.00 to $54.00 in a research note on Tuesday, May 28th. KeyCorp reiterated an “overweight” rating and set a $60.00 target price on shares of Activision Blizzard in a research note on Tuesday, July 30th. Finally, Jefferies Financial Group began coverage on Activision Blizzard in a research note on Thursday, July 11th. They set a “buy” rating and a $56.00 target price on the stock. Eight analysts have rated the stock with a hold rating and twenty-six have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $61.71.
NASDAQ:ATVI traded up $1.32 on Thursday, hitting $56.23. The company’s stock had a trading volume of 3,198,166 shares, compared to its average volume of 9,287,605. The company has a current ratio of 3.46, a quick ratio of 3.43 and a debt-to-equity ratio of 0.22. The stock has a fifty day moving average of $49.35 and a two-hundred day moving average of $46.51. The firm has a market capitalization of $42.33 billion, a P/E ratio of 23.53, a price-to-earnings-growth ratio of 2.19 and a beta of 0.89. Activision Blizzard has a one year low of $39.85 and a one year high of $84.68.
Activision Blizzard (NASDAQ:ATVI) last released its quarterly earnings data on Thursday, August 8th. The company reported $0.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.20 by $0.14. The firm had revenue of $1.21 billion for the quarter, compared to analyst estimates of $1.19 billion. Activision Blizzard had a return on equity of 15.54% and a net margin of 23.69%. The business’s revenue for the quarter was down 12.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.41 earnings per share. As a group, sell-side analysts anticipate that Activision Blizzard will post 2 EPS for the current year.
In other news, insider Brian M. Stolz sold 134,845 shares of the stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $47.80, for a total value of $6,445,591.00. Following the completion of the transaction, the insider now directly owns 58,563 shares in the company, valued at approximately $2,799,311.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Christopher B. Walther sold 11,333 shares of the stock in a transaction on Monday, July 1st. The shares were sold at an average price of $47.91, for a total value of $542,964.03. The disclosure for this sale can be found here. In the last ninety days, insiders sold 156,844 shares of company stock worth $7,528,095. Company insiders own 1.31% of the company’s stock.
Several institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. lifted its stake in shares of Activision Blizzard by 1.1% in the 2nd quarter. Vanguard Group Inc. now owns 57,097,169 shares of the company’s stock valued at $2,694,986,000 after acquiring an additional 599,719 shares during the last quarter. BlackRock Inc. lifted its stake in shares of Activision Blizzard by 3.4% in the 2nd quarter. BlackRock Inc. now owns 48,425,839 shares of the company’s stock valued at $2,285,699,000 after acquiring an additional 1,613,122 shares during the last quarter. Invesco Ltd. lifted its stake in shares of Activision Blizzard by 7.1% in the 2nd quarter. Invesco Ltd. now owns 19,334,866 shares of the company’s stock valued at $912,605,000 after acquiring an additional 1,289,300 shares during the last quarter. Northern Trust Corp lifted its stake in shares of Activision Blizzard by 2.9% in the 2nd quarter. Northern Trust Corp now owns 9,522,155 shares of the company’s stock valued at $449,447,000 after acquiring an additional 270,465 shares during the last quarter. Finally, Geode Capital Management LLC lifted its stake in shares of Activision Blizzard by 7.4% in the 4th quarter. Geode Capital Management LLC now owns 9,116,102 shares of the company’s stock valued at $423,741,000 after acquiring an additional 626,387 shares during the last quarter. Institutional investors own 87.07% of the company’s stock.
Activision Blizzard Company Profile
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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