Activision Blizzard, Inc. (ATVI) Receives Consensus Rating of “Buy” from Analysts

Activision Blizzard, Inc. (NASDAQ:ATVI) has been assigned an average rating of “Buy” from the thirty-two ratings firms that are covering the stock, Marketbeat reports. Seven investment analysts have rated the stock with a hold recommendation and twenty-five have given a buy recommendation to the company. The average 12-month target price among brokers that have covered the stock in the last year is $70.19.

A number of equities analysts recently commented on the company. Vetr lowered Activision Blizzard from a “hold” rating to a “sell” rating and set a $61.27 price objective on the stock. in a research note on Monday, November 20th. Morgan Stanley lifted their price objective on Activision Blizzard from $70.00 to $72.00 and gave the stock an “overweight” rating in a research note on Friday, November 3rd. Barclays started coverage on Activision Blizzard in a research note on Wednesday, October 4th. They issued an “equal weight” rating and a $65.00 price target on the stock. Sanford C. Bernstein started coverage on Activision Blizzard in a research note on Thursday. They issued a “market perform” rating and a $74.00 price target on the stock. Finally, Wedbush set a $75.00 price target on Activision Blizzard and gave the company a “buy” rating in a research note on Thursday, January 11th.

In other news, CEO Riccardo Zacconi sold 19,761 shares of the business’s stock in a transaction that occurred on Friday, November 17th. The stock was sold at an average price of $63.64, for a total transaction of $1,257,590.04. Following the completion of the sale, the chief executive officer now owns 41,435 shares in the company, valued at $2,636,923.40. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 2.12% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ATVI. Janus Henderson Group PLC increased its holdings in shares of Activision Blizzard by 820.8% during the second quarter. Janus Henderson Group PLC now owns 20,298,735 shares of the company’s stock valued at $1,168,587,000 after acquiring an additional 18,094,334 shares in the last quarter. Capital World Investors increased its holdings in shares of Activision Blizzard by 23.8% during the second quarter. Capital World Investors now owns 22,538,000 shares of the company’s stock valued at $1,297,513,000 after acquiring an additional 4,327,000 shares in the last quarter. Schwab Charles Investment Management Inc. bought a new stake in shares of Activision Blizzard during the fourth quarter valued at approximately $169,547,000. Prudential Financial Inc. increased its holdings in shares of Activision Blizzard by 108.6% during the third quarter. Prudential Financial Inc. now owns 3,184,687 shares of the company’s stock valued at $205,444,000 after acquiring an additional 1,657,730 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its holdings in Activision Blizzard by 25.6% during the third quarter. Bank of New York Mellon Corp now owns 7,476,125 shares of the company’s stock worth $482,285,000 after buying an additional 1,523,740 shares in the last quarter. Hedge funds and other institutional investors own 86.49% of the company’s stock.

Activision Blizzard (NASDAQ:ATVI) traded up $0.77 during trading on Friday, hitting $70.57. The company had a trading volume of 5,203,708 shares, compared to its average volume of 5,520,000. The company has a debt-to-equity ratio of 0.44, a quick ratio of 2.22 and a current ratio of 2.25. The firm has a market capitalization of $53,360.00, a price-to-earnings ratio of 48.34, a P/E/G ratio of 2.06 and a beta of 1.02. Activision Blizzard has a one year low of $38.38 and a one year high of $71.18.

Activision Blizzard (NASDAQ:ATVI) last posted its quarterly earnings data on Thursday, November 2nd. The company reported $0.56 EPS for the quarter, topping the Zacks’ consensus estimate of $0.45 by $0.11. Activision Blizzard had a return on equity of 17.56% and a net margin of 15.90%. analysts predict that Activision Blizzard will post 2.1 EPS for the current year.

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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.

Analyst Recommendations for Activision Blizzard (NASDAQ:ATVI)

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