Activision Blizzard (NASDAQ:ATVI) has been assigned a $77.00 price objective by research analysts at SunTrust Banks in a research report issued on Wednesday. The brokerage presently has a “buy” rating on the stock. SunTrust Banks’ price target points to a potential upside of 9.87% from the company’s previous close.
A number of other equities research analysts have also commented on ATVI. BidaskClub upgraded shares of Activision Blizzard from a “hold” rating to a “buy” rating in a report on Tuesday, January 16th. Sanford C. Bernstein began coverage on shares of Activision Blizzard in a report on Thursday, January 18th. They set a “market perform” rating and a $74.00 price objective on the stock. Macquarie raised their price objective on shares of Activision Blizzard from $64.00 to $68.00 and gave the stock an “outperform” rating in a report on Wednesday, January 10th. Vetr upgraded shares of Activision Blizzard from a “hold” rating to a “buy” rating and set a $64.25 price objective on the stock in a report on Wednesday, September 27th. Finally, Zacks Investment Research lowered shares of Activision Blizzard from a “buy” rating to a “hold” rating in a report on Monday, January 8th. Seven investment analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $70.21.
Shares of Activision Blizzard (ATVI) traded down $1.47 during trading hours on Wednesday, hitting $70.08. 9,131,499 shares of the company were exchanged, compared to its average volume of 5,230,000. Activision Blizzard has a fifty-two week low of $38.38 and a fifty-two week high of $72.37. The company has a current ratio of 2.25, a quick ratio of 2.22 and a debt-to-equity ratio of 0.44. The firm has a market capitalization of $52,990.00, a price-to-earnings ratio of 48.00, a price-to-earnings-growth ratio of 2.09 and a beta of 1.02.
In other Activision Blizzard news, CEO Riccardo Zacconi sold 19,761 shares of Activision Blizzard stock in a transaction on Friday, November 17th. The shares were sold at an average price of $63.64, for a total value of $1,257,590.04. Following the sale, the chief executive officer now directly owns 41,435 shares in the company, valued at approximately $2,636,923.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 2.12% of the stock is currently owned by insiders.
A number of hedge funds have recently modified their holdings of the business. Cornerstone Advisors Inc. increased its stake in shares of Activision Blizzard by 321.5% during the 3rd quarter. Cornerstone Advisors Inc. now owns 1,547 shares of the company’s stock worth $100,000 after purchasing an additional 1,180 shares during the last quarter. Grove Bank & Trust increased its stake in shares of Activision Blizzard by 261.7% during the 3rd quarter. Grove Bank & Trust now owns 2,170 shares of the company’s stock worth $140,000 after purchasing an additional 1,570 shares during the last quarter. Phocas Financial Corp. acquired a new position in shares of Activision Blizzard during the 2nd quarter worth about $173,000. BB&T Investment Services Inc. acquired a new position in shares of Activision Blizzard during the 2nd quarter worth about $189,000. Finally, Chicago Equity Partners LLC acquired a new position in shares of Activision Blizzard during the 3rd quarter worth about $204,000. Hedge funds and other institutional investors own 86.63% of the company’s stock.
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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.
