Bank of America Corporation Upgrades Activision Blizzard, Inc (ATVI) to “Buy”
Activision Blizzard, Inc (NASDAQ:ATVI) was upgraded by analysts at Bank of America Corporation from a “neutral” rating to a “buy” rating in a research note issued to investors on Friday, Marketbeat Ratings reports. The brokerage currently has a $76.00 target price on the stock, up from their prior target price of $65.00. Bank of America Corporation’s price target would suggest a potential upside of 23.92% from the company’s current price.
Other analysts have also issued reports about the company. Vetr upgraded Activision Blizzard from a “hold” rating to a “buy” rating and set a $50.88 price target on the stock in a report on Monday, April 17th. Credit Suisse Group restated an “outperform” rating and issued a $62.00 target price (up from $61.00) on shares of Activision Blizzard in a research note on Friday, May 5th. Stifel Nicolaus reiterated a “buy” rating and issued a $59.00 price target (up from $53.00) on shares of Activision Blizzard in a research report on Tuesday, May 2nd. Zacks Investment Research upgraded Activision Blizzard from a “hold” rating to a “buy” rating and set a $64.00 price target for the company in a research report on Wednesday, July 5th. Finally, Benchmark Co. reiterated a “buy” rating and issued a $57.88 price target (up from $53.96) on shares of Activision Blizzard in a research report on Monday, May 1st. One analyst has rated the stock with a sell rating, three have issued a hold rating and twenty-three have issued a buy rating to the company. Activision Blizzard presently has an average rating of “Buy” and a consensus target price of $60.33.
Shares of Activision Blizzard (NASDAQ:ATVI) opened at 61.33 on Friday. Activision Blizzard has a 1-year low of $35.12 and a 1-year high of $64.06. The company has a market cap of $46.22 billion, a PE ratio of 45.00 and a beta of 1.07. The firm has a 50-day moving average price of $60.15 and a 200 day moving average price of $52.22.
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In other Activision Blizzard news, CEO of King Digital Riccardo Zacconi sold 19,761 shares of the company’s stock in a transaction on Wednesday, May 17th. The shares were sold at an average price of $55.45, for a total value of $1,095,747.45. Following the sale, the insider now directly owns 55,509 shares of the company’s stock, valued at $3,077,974.05. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 2.12% of the stock is owned by insiders.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Shine Investment Advisory Services Inc. bought a new position in Activision Blizzard during the second quarter valued at $142,000. Huntington National Bank increased its stake in Activision Blizzard by 122.6% in the second quarter. Huntington National Bank now owns 2,480 shares of the company’s stock worth $143,000 after buying an additional 1,366 shares during the last quarter. Bronfman E.L. Rothschild L.P. increased its stake in Activision Blizzard by 16.2% in the second quarter. Bronfman E.L. Rothschild L.P. now owns 2,606 shares of the company’s stock worth $150,000 after buying an additional 363 shares during the last quarter. Guardian Life Insurance Co. of America increased its stake in Activision Blizzard by 1.9% in the first quarter. Guardian Life Insurance Co. of America now owns 2,671 shares of the company’s stock worth $133,000 after buying an additional 51 shares during the last quarter. Finally, Benjamin F. Edwards & Company Inc. increased its stake in Activision Blizzard by 504.6% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 3,023 shares of the company’s stock worth $151,000 after buying an additional 2,523 shares during the last quarter. Hedge funds and other institutional investors own 87.37% of the company’s stock.
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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