Activision Blizzard (NASDAQ:ATVI) had its price objective lifted by Piper Jaffray Companies from $55.00 to $62.00 in a report published on Wednesday, BenzingaRatingsTable reports. Piper Jaffray Companies currently has an overweight rating on the stock.
A number of other analysts also recently weighed in on the stock. Stifel Nicolaus increased their price target on shares of Activision Blizzard from $57.00 to $65.00 and gave the company a buy rating in a research report on Monday, September 9th. BidaskClub upgraded shares of Activision Blizzard from a buy rating to a strong-buy rating in a research report on Tuesday, September 17th. Citigroup initiated coverage on shares of Activision Blizzard in a report on Friday, June 7th. They set a neutral rating and a $47.00 target price on the stock. Goldman Sachs Group upgraded shares of Activision Blizzard from a neutral rating to a buy rating and raised their target price for the stock from $50.00 to $54.00 in a report on Tuesday, May 28th. Finally, SunTrust Banks raised their target price on shares of Activision Blizzard from $52.00 to $56.00 and gave the stock a buy rating in a report on Monday, August 12th. Eight research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the company’s stock. The stock has an average rating of Buy and an average target price of $61.30.
Shares of NASDAQ:ATVI opened at $54.76 on Wednesday. The company has a market capitalization of $42.19 billion, a price-to-earnings ratio of 23.92, a P/E/G ratio of 2.13 and a beta of 0.89. The firm’s 50 day simple moving average is $50.54 and its 200 day simple moving average is $47.04. The company has a debt-to-equity ratio of 0.22, a current ratio of 3.46 and a quick ratio of 3.43. Activision Blizzard has a fifty-two week low of $39.85 and a fifty-two week high of $84.68.
Activision Blizzard (NASDAQ:ATVI) last announced its quarterly earnings results on Thursday, August 8th. The company reported $0.34 earnings per share for the quarter, beating analysts’ consensus estimates of $0.20 by $0.14. The business had revenue of $1.21 billion for the quarter, compared to the consensus estimate of $1.19 billion. Activision Blizzard had a net margin of 23.69% and a return on equity of 15.54%. Activision Blizzard’s revenue for the quarter was down 12.9% on a year-over-year basis. During the same period last year, the company posted $0.41 EPS. Equities research analysts expect that Activision Blizzard will post 2 earnings per share for the current year.
In other news, insider Christopher B. Walther sold 5,333 shares of Activision Blizzard stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $50.34, for a total value of $268,463.22. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Brian M. Stolz sold 134,845 shares of Activision Blizzard stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $47.80, for a total transaction of $6,445,591.00. Following the completion of the sale, the insider now owns 58,563 shares in the company, valued at $2,799,311.40. The disclosure for this sale can be found here. Insiders sold 156,844 shares of company stock worth $7,528,095 over the last quarter. 1.29% of the stock is owned by corporate insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of ATVI. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its holdings in shares of Activision Blizzard by 31.4% in the first quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 254,095 shares of the company’s stock valued at $11,569,000 after purchasing an additional 60,786 shares during the last quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC acquired a new stake in shares of Activision Blizzard in the first quarter valued at approximately $27,000. US Bancorp DE raised its holdings in shares of Activision Blizzard by 12.7% in the first quarter. US Bancorp DE now owns 104,149 shares of the company’s stock valued at $4,742,000 after purchasing an additional 11,776 shares during the last quarter. Great West Life Assurance Co. Can raised its holdings in shares of Activision Blizzard by 62.6% in the first quarter. Great West Life Assurance Co. Can now owns 848,365 shares of the company’s stock valued at $38,531,000 after purchasing an additional 326,524 shares during the last quarter. Finally, Pinnacle Wealth Planning Services Inc. raised its holdings in shares of Activision Blizzard by 11.9% in the first quarter. Pinnacle Wealth Planning Services Inc. now owns 6,506 shares of the company’s stock valued at $296,000 after purchasing an additional 691 shares during the last quarter. Institutional investors own 86.97% 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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