Vetr lowered shares of Activision Blizzard (NASDAQ:ATVI) from a buy rating to a hold rating in a research note published on Thursday, January 11th. The firm currently has $69.64 price target on the stock.
A number of other brokerages have also commented on ATVI. Wedbush set a $75.00 price target on Activision Blizzard and gave the company a buy rating in a research note on Thursday, January 11th. BTIG Research started coverage on Activision Blizzard in a research note on Monday, December 18th. They issued a buy rating and a $80.00 price objective for the company. Zacks Investment Research lowered Activision Blizzard from a buy rating to a hold rating in a research note on Monday, January 8th. KeyCorp set a $80.00 price objective on Activision Blizzard and gave the company a buy rating in a research note on Monday, January 8th. Finally, Macquarie raised their price target on Activision Blizzard from $64.00 to $68.00 and gave the stock an outperform rating in a research note on Wednesday, January 10th. Seven equities research analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the stock. The stock currently has a consensus rating of Buy and an average price target of $70.04.
Shares of Activision Blizzard (NASDAQ ATVI) traded up $0.77 on Thursday, reaching $70.57. The company’s stock had a trading volume of 5,150,621 shares, compared to its average volume of 5,440,000. The company has a debt-to-equity ratio of 0.44, a quick ratio of 2.22 and a current ratio of 2.25. The stock has a market capitalization of $53,360.00, a PE ratio of 48.34, a price-to-earnings-growth ratio of 2.07 and a beta of 1.02. Activision Blizzard has a fifty-two week low of $38.38 and a fifty-two week high of $71.18.
Activision Blizzard (NASDAQ:ATVI) last released its earnings results on Thursday, November 2nd. The company reported $0.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.45 by $0.11. Activision Blizzard had a return on equity of 17.56% and a net margin of 15.90%. equities research analysts forecast that Activision Blizzard will post 2.1 EPS for the current year.
In other news, CEO Riccardo Zacconi sold 19,761 shares of the company’s stock in a transaction that occurred on Friday, November 17th. The stock was sold at an average price of $63.64, for a total value of $1,257,590.04. Following the completion of the sale, the chief executive officer now directly owns 41,435 shares in the company, valued at $2,636,923.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 2.12% of the stock is owned by corporate insiders.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in ATVI. Oppenheimer Asset Management Inc. lifted its holdings in Activision Blizzard by 32.0% in the second quarter. Oppenheimer Asset Management Inc. now owns 8,247 shares of the company’s stock valued at $475,000 after acquiring an additional 1,998 shares during the last quarter. Schroder Investment Management Group lifted its holdings in Activision Blizzard by 211.2% in the second quarter. Schroder Investment Management Group now owns 124,530 shares of the company’s stock valued at $7,170,000 after acquiring an additional 84,515 shares during the last quarter. Franklin Resources Inc. lifted its holdings in Activision Blizzard by 891.4% in the second quarter. Franklin Resources Inc. now owns 255,245 shares of the company’s stock valued at $14,695,000 after acquiring an additional 229,500 shares during the last quarter. Systematic Financial Management LP acquired a new position in Activision Blizzard in the second quarter valued at approximately $1,294,000. Finally, Northwestern Mutual Wealth Management Co. lifted its holdings in Activision Blizzard by 26.0% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 9,984 shares of the company’s stock valued at $574,000 after acquiring an additional 2,062 shares during the last quarter. Hedge funds and other institutional investors own 86.49% of the company’s stock.
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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.
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