Activision Blizzard (ATVI) Hits New 12-Month High After Analyst Upgrade

Activision Blizzard, Inc. (NASDAQ:ATVI) reached a new 52-week high during trading on Thursday after Macquarie raised their price target on the stock from $64.00 to $68.00. Macquarie currently has an outperform rating on the stock. Activision Blizzard traded as high as $69.29 and last traded at $66.83, with a volume of 4500900 shares changing hands. The stock had previously closed at $66.19.

Several other research analysts also recently issued reports on the company. Zacks Investment Research downgraded Activision Blizzard from a “buy” rating to a “hold” rating in a research note on Monday, January 8th. KeyCorp set a $80.00 price target on Activision Blizzard and gave the stock a “buy” rating in a research note on Monday, January 8th. Vetr downgraded Activision Blizzard from a “strong-buy” rating to a “buy” rating and set a $70.69 price target for the company. in a research note on Thursday, December 28th. BidaskClub downgraded Activision Blizzard from a “buy” rating to a “hold” rating in a research note on Wednesday, December 27th. Finally, BTIG Research assumed coverage on Activision Blizzard in a research note on Monday, December 18th. They set a “buy” rating and a $80.00 price target for the company. Seven research analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $69.91.

In other Activision Blizzard news, CEO Riccardo Zacconi sold 19,761 shares of Activision Blizzard stock in a transaction dated 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 owns 41,435 shares in the company, valued at approximately $2,636,923.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 2.12% of the stock is owned by insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Nisa Investment Advisors LLC grew its holdings in Activision Blizzard by 3.2% in the 4th quarter. Nisa Investment Advisors LLC now owns 105,192 shares of the company’s stock valued at $6,657,000 after buying an additional 3,300 shares during the period. Waverton Investment Management Ltd grew its holdings in Activision Blizzard by 57.3% in the 4th quarter. Waverton Investment Management Ltd now owns 943,017 shares of the company’s stock valued at $59,712,000 after buying an additional 343,697 shares during the period. DnB Asset Management AS grew its holdings in Activision Blizzard by 2.3% in the 4th quarter. DnB Asset Management AS now owns 79,753 shares of the company’s stock valued at $5,050,000 after buying an additional 1,800 shares during the period. New England Research & Management Inc. grew its holdings in Activision Blizzard by 17.0% in the 4th quarter. New England Research & Management Inc. now owns 5,850 shares of the company’s stock valued at $370,000 after buying an additional 850 shares during the period. Finally, Abner Herrman & Brock LLC grew its holdings in Activision Blizzard by 12.1% in the 4th quarter. Abner Herrman & Brock LLC now owns 97,168 shares of the company’s stock valued at $6,153,000 after buying an additional 10,526 shares during the period. Institutional investors own 86.48% of the company’s stock.

The company has a debt-to-equity ratio of 0.44, a current ratio of 2.25 and a quick ratio of 2.22. The company has a market capitalization of $53,200.00, a price-to-earnings ratio of 48.19, a PEG ratio of 1.94 and a beta of 1.02.

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Activision Blizzard Company Profile

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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