Activision Blizzard Inc. (ATVI) Hits New 52-Week High at $44.89
Activision Blizzard Inc. (NASDAQ:ATVI) shares hit a new 52-week high during trading on Wednesday . The stock traded as high as $44.89 and last traded at $44.05, with a volume of 4,154,064 shares. The stock had previously closed at $44.13.
Several brokerages have recently commented on ATVI. Macquarie reiterated an “outperform” rating and set a $40.00 target price (up from $36.00) on shares of Activision Blizzard in a research note on Thursday, May 26th. BMO Capital Markets restated a “market perform” rating and issued a $38.00 price target on shares of Activision Blizzard in a research note on Wednesday, August 10th. Zacks Investment Research downgraded Activision Blizzard from a “buy” rating to a “hold” rating in a research note on Tuesday. Piper Jaffray Cos. boosted their price target on Activision Blizzard from $42.00 to $46.00 and gave the company an “overweight” rating in a research note on Friday, August 5th. Finally, Cowen and Company restated a “buy” rating on shares of Activision Blizzard in a research note on Saturday, June 4th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and sixteen have assigned a buy rating to the stock. Activision Blizzard presently has a consensus rating of “Buy” and a consensus target price of $43.42.
The company’s 50 day moving average price is $41.73 and its 200-day moving average price is $38.10. The company has a market cap of $32.62 billion, a PE ratio of 44.31 and a beta of 1.02.
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Activision Blizzard (NASDAQ:ATVI) last posted its quarterly earnings data on Thursday, August 4th. The company reported $0.45 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.42 by $0.03. The company earned $1.57 billion during the quarter, compared to analyst estimates of $1.44 billion. Activision Blizzard had a return on equity of 14.49% and a net margin of 13.95%. The firm’s quarterly revenue was up 112.0% on a year-over-year basis. During the same quarter last year, the company earned $0.13 earnings per share. Equities research analysts expect that Activision Blizzard Inc. will post $1.97 earnings per share for the current fiscal year.
In related news, CEO Robert A. Kotick sold 4,588,775 shares of Activision Blizzard stock in a transaction on Monday, August 15th. The stock was sold at an average price of $40.51, for a total transaction of $185,891,275.25. Following the completion of the sale, the chief executive officer now owns 797,049 shares of the company’s stock, valued at $32,288,454.99. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Riccardo Zacconi sold 19,761 shares of Activision Blizzard stock in a transaction on Monday, August 8th. The shares were sold at an average price of $40.65, for a total value of $803,284.65. Following the sale, the chief executive officer now directly owns 97,177 shares of the company’s stock, valued at approximately $3,950,245.05. The disclosure for this sale can be found here. Corporate insiders own 25.23% of the company’s stock.
A number of large investors have recently bought and sold shares of the stock. FMR LLC raised its stake in Activision Blizzard by 88.7% in the second quarter. FMR LLC now owns 105,342,767 shares of the company’s stock valued at $4,174,735,000 after buying an additional 49,511,148 shares in the last quarter. Vanguard Group Inc. raised its stake in Activision Blizzard by 3.6% in the second quarter. Vanguard Group Inc. now owns 33,277,915 shares of the company’s stock valued at $1,318,803,000 after buying an additional 1,166,054 shares in the last quarter. Ameriprise Financial Inc. raised its stake in Activision Blizzard by 45.0% in the second quarter. Ameriprise Financial Inc. now owns 30,276,592 shares of the company’s stock valued at $1,199,862,000 after buying an additional 9,390,129 shares in the last quarter. State Street Corp raised its stake in Activision Blizzard by 2.6% in the second quarter. State Street Corp now owns 19,349,183 shares of the company’s stock valued at $766,806,000 after buying an additional 492,609 shares in the last quarter. Finally, BlackRock Institutional Trust Company N.A. raised its stake in Activision Blizzard by 4.8% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 14,279,811 shares of the company’s stock valued at $565,909,000 after buying an additional 650,789 shares in the last quarter. 83.67% of the stock is owned by institutional investors.
About Activision Blizzard
Activision Blizzard, Inc is a developer and publisher of online, personal computer (PC), video game console, handheld, mobile and tablet games. The Company operates through Activision Publishing, Inc (Activision) and its subsidiaries, Blizzard Entertainment, Inc (Blizzard) and its subsidiaries, and Other segments.
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