Activision Blizzard, Inc (NASDAQ:ATVI) had its price objective lifted by stock analysts at Argus from $65.00 to $70.00 in a research note issued to investors on Wednesday. The brokerage currently has a “buy” rating on the stock. Argus’ price target would indicate a potential upside of 12.96% from the company’s current price.

A number of other research analysts have also issued reports on the company. Robert W. Baird reiterated an “outperform” rating and set a $68.00 target price (up previously from $60.00) on shares of Activision Blizzard in a research report on Thursday, August 10th. Credit Suisse Group reiterated an “outperform” rating and set a $74.00 target price (up previously from $67.00) on shares of Activision Blizzard in a research report on Wednesday, August 9th. Zacks Investment Research upgraded Activision Blizzard from a “hold” rating to a “strong-buy” rating and set a $71.00 target price on the stock in a research report on Wednesday, August 9th. Jefferies Group LLC reiterated a “buy” rating and set a $78.00 target price (up previously from $68.00) on shares of Activision Blizzard in a research report on Wednesday, August 9th. Finally, Cowen and Company reiterated an “outperform” rating and set a $66.00 target price (up previously from $59.00) on shares of Activision Blizzard in a research report on Wednesday, August 9th. One research analyst has rated the stock with a sell rating, two have given a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the company’s stock. Activision Blizzard presently has an average rating of “Buy” and a consensus target price of $62.56.

Activision Blizzard (ATVI) traded up 0.644% during midday trading on Wednesday, hitting $62.369. 412,512 shares of the stock traded hands. The company’s 50 day moving average price is $60.39 and its 200 day moving average price is $53.55. The firm has a market cap of $47.08 billion, a PE ratio of 42.113 and a beta of 1.07. Activision Blizzard has a 12 month low of $35.12 and a 12 month high of $64.06.

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In related news, insider Dennis M. Durkin sold 160,000 shares of the firm’s stock in a transaction dated Friday, August 11th. The stock was sold at an average price of $60.68, for a total transaction of $9,708,800.00. Following the completion of the sale, the insider now directly owns 337,534 shares of the company’s stock, valued at approximately $20,481,563.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Brian G. Kelly sold 98,879 shares of the firm’s stock in a transaction dated Tuesday, August 8th. The stock was sold at an average price of $61.87, for a total value of $6,117,643.73. Following the sale, the director now directly owns 189,791 shares of the company’s stock, valued at $11,742,369.17. The disclosure for this sale can be found here. Insiders have sold a total of 4,055,118 shares of company stock valued at $250,984,257 over the last three months. Corporate insiders own 2.12% of the company’s stock.

Several hedge funds have recently modified their holdings of the company. Guardian Life Insurance Co. of America increased its stake in shares of 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. Shine Investment Advisory Services Inc. purchased a new position in shares of Activision Blizzard during the second quarter worth approximately $142,000. Huntington National Bank boosted its position in shares of 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 period. Bronfman E.L. Rothschild L.P. boosted its position in shares of 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 period. Finally, Benjamin F. Edwards & Company Inc. boosted its position in shares of 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 period. 87.39% of the stock is owned by hedge funds and other institutional investors.

About Activision Blizzard

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.

Analyst Recommendations for Activision Blizzard (NASDAQ:ATVI)

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