BidaskClub upgraded shares of Activision Blizzard (NASDAQ:ATVI) from a hold rating to a buy rating in a research report report published on Tuesday morning.
Several other brokerages have also issued reports on ATVI. Buckingham Research initiated coverage on shares of Activision Blizzard in a research note on Wednesday, September 20th. They set a buy rating and a $79.00 price target for the company. Zacks Investment Research lowered shares of Activision Blizzard from a buy rating to a hold rating in a research note on Monday, January 8th. Vetr upgraded shares of Activision Blizzard from a sell rating to a hold rating and set a $62.29 price target for the company in a research note on Wednesday, November 29th. Wedbush set a $75.00 price target on shares of Activision Blizzard and gave the stock a buy rating in a research note on Thursday, October 26th. Finally, Jefferies Group restated a buy rating and set a $78.00 price target on shares of Activision Blizzard in a research note on Sunday, October 8th. Seven equities research analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the company’s stock. Activision Blizzard has a consensus rating of Buy and a consensus target price of $70.04.
Activision Blizzard (NASDAQ:ATVI) traded up $0.77 during trading on Tuesday, hitting $70.57. 5,203,708 shares of the company’s stock traded hands, compared to its average volume of 5,520,000. Activision Blizzard has a 1 year low of $38.38 and a 1 year high of $71.18. 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 company has a market cap of $53,360.00, a PE ratio of 48.34, a P/E/G ratio of 2.06 and a beta of 1.02.
Activision Blizzard (NASDAQ:ATVI) last issued its quarterly earnings results on Thursday, November 2nd. The company reported $0.56 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.45 by $0.11. Activision Blizzard had a net margin of 15.90% and a return on equity of 17.56%. sell-side analysts expect that Activision Blizzard will post 2.1 EPS for the current fiscal year.
In other news, CEO Riccardo Zacconi sold 19,761 shares of the business’s stock in a transaction on Friday, November 17th. The shares were sold at an average price of $63.64, for a total transaction of $1,257,590.04. Following the completion of the transaction, the chief executive officer now directly 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 the SEC website. 2.12% of the stock is owned by insiders.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Wealth Enhancement Advisory Services LLC grew its position in shares of Activision Blizzard by 17.5% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 42,256 shares of the company’s stock valued at $2,973,000 after purchasing an additional 6,298 shares in the last quarter. State of Alaska Department of Revenue grew its position in shares of Activision Blizzard by 527.9% during the 4th quarter. State of Alaska Department of Revenue now owns 85,603 shares of the company’s stock valued at $5,418,000 after purchasing an additional 71,970 shares in the last quarter. Oakbrook Investments LLC grew its position in shares of Activision Blizzard by 3.2% during the 4th quarter. Oakbrook Investments LLC now owns 51,340 shares of the company’s stock valued at $3,251,000 after purchasing an additional 1,590 shares in the last quarter. Fox Run Management L.L.C. purchased a new position in shares of Activision Blizzard during the 4th quarter valued at $731,000. Finally, Schwab Charles Investment Management Inc. bought a new stake in shares of Activision Blizzard during the 4th quarter worth $169,547,000. Hedge funds and other institutional investors own 86.49% of the company’s stock.
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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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