Activision Blizzard, Inc (ATVI) Price Target Raised to $75.00 at UBS Group AG (USA)
Activision Blizzard, Inc (NASDAQ:ATVI) had its target price hoisted by equities researchers at UBS Group AG (USA) from $72.00 to $75.00 in a research report issued on Friday, www.benzinga.com reports. The brokerage presently has a “buy” rating on the stock. UBS Group AG (USA)’s price target indicates a potential upside of 18.67% from the stock’s previous close.
Several other analysts have also weighed in on ATVI. Morgan Stanley increased their price target on Activision Blizzard from $70.00 to $72.00 and gave the company an “overweight” rating in a report on Friday. Jefferies Group LLC increased their target price on Activision Blizzard from $80.00 to $82.00 and gave the stock a “buy” rating in a research note on Friday. Robert W. Baird increased their target price on Activision Blizzard from $68.00 to $75.00 and gave the stock an “outperform” rating in a research note on Friday. BMO Capital Markets reiterated a “hold” rating and issued a $62.00 target price on shares of Activision Blizzard in a research note on Thursday. Finally, SunTrust Banks, Inc. set a $72.00 target price on Activision Blizzard and gave the stock a “buy” rating in a research note on Sunday, October 29th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the company’s stock. Activision Blizzard has an average rating of “Buy” and a consensus price target of $68.59.
Activision Blizzard (NASDAQ:ATVI) traded down $2.13 during midday trading on Friday, hitting $63.20. The stock had a trading volume of 18,650,840 shares, compared to its average volume of 5,450,518. The company has a quick ratio of 2.44, a current ratio of 2.47 and a debt-to-equity ratio of 0.45. The company has a market cap of $47,785.52, a P/E ratio of 28.73, a P/E/G ratio of 2.33 and a beta of 1.07. Activision Blizzard has a 52-week low of $35.12 and a 52-week high of $67.03.
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In other news, Director Brian G. Kelly sold 111,239 shares of the business’s stock in a transaction that occurred on Monday, August 7th. The stock was sold at an average price of $62.44, for a total value of $6,945,763.16. Following the completion of the sale, the director now directly owns 189,791 shares in the company, valued at $11,850,550.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Riccardo Zacconi sold 19,761 shares of the business’s stock in a transaction that occurred on Friday, August 18th. The shares were sold at an average price of $61.32, for a total value of $1,211,744.52. Following the completion of the sale, the chief executive officer now owns 48,472 shares of the company’s stock, valued at $2,972,303.04. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 4,074,879 shares of company stock valued at $252,196,001. 2.12% of the stock is owned by company insiders.
Several institutional investors have recently bought and sold shares of the company. BlackRock Inc. increased its position in shares of Activision Blizzard by 0.5% in the second quarter. BlackRock Inc. now owns 49,147,427 shares of the company’s stock valued at $2,829,418,000 after buying an additional 235,362 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of Activision Blizzard by 4.8% in the second quarter. Vanguard Group Inc. now owns 48,396,938 shares of the company’s stock worth $2,786,211,000 after acquiring an additional 2,200,995 shares during the last quarter. State Street Corp boosted its stake in shares of Activision Blizzard by 4.7% in the second quarter. State Street Corp now owns 26,680,585 shares of the company’s stock worth $1,536,010,000 after acquiring an additional 1,197,980 shares during the last quarter. Capital World Investors boosted its stake in shares of Activision Blizzard by 23.8% in the second quarter. Capital World Investors now owns 22,538,000 shares of the company’s stock worth $1,297,513,000 after acquiring an additional 4,327,000 shares during the last quarter. Finally, Jennison Associates LLC boosted its stake in shares of Activision Blizzard by 82.6% in the second quarter. Jennison Associates LLC now owns 22,287,591 shares of the company’s stock worth $1,283,097,000 after acquiring an additional 10,083,717 shares during the last quarter. Institutional investors and hedge funds own 86.27% 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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