Bank of America Boosts Activision Blizzard (ATVI) Price Target to $77.00

Activision Blizzard (NASDAQ:ATVI) had its price target upped by investment analysts at Bank of America from $76.00 to $77.00 in a research report issued to clients and investors on Tuesday. The firm currently has a “buy” rating on the stock. Bank of America’s price target points to a potential upside of 12.31% from the stock’s previous close.

Other analysts have also issued research reports about the stock. KeyCorp reiterated a “buy” rating and issued a $74.00 target price on shares of Activision Blizzard in a research report on Tuesday, October 17th. Needham & Company LLC reiterated a “buy” rating and issued a $75.00 target price on shares of Activision Blizzard in a research report on Thursday, October 12th. Vetr upgraded shares of Activision Blizzard from a “hold” rating to a “buy” rating and set a $64.58 target price on the stock in a research report on Tuesday, October 10th. Stifel Nicolaus reiterated a “buy” rating and issued a $71.00 target price on shares of Activision Blizzard in a research report on Monday, October 9th. Finally, SunTrust Banks set a $72.00 target price on shares of Activision Blizzard and gave the company a “buy” rating in a research report on Sunday, October 29th. Six investment analysts have rated the stock with a hold rating and twenty-six have issued a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $70.68.

Shares of Activision Blizzard (NASDAQ ATVI) traded up $0.58 during midday trading on Tuesday, hitting $68.56. 7,114,451 shares of the stock traded hands, compared to its average volume of 5,964,143. Activision Blizzard has a 1-year low of $38.93 and a 1-year high of $74.94. The firm has a market capitalization of $51,970.00, a price-to-earnings ratio of 47.08, a price-to-earnings-growth ratio of 2.09 and a beta of 1.11. The company has a current ratio of 2.25, a quick ratio of 2.22 and a debt-to-equity ratio of 0.44.

In other Activision Blizzard news, CEO Riccardo Zacconi sold 19,761 shares of Activision Blizzard stock in a transaction dated Friday, November 17th. The shares were sold at an average price of $63.64, for a total transaction of $1,257,590.04. Following the transaction, the chief executive officer now directly owns 41,435 shares of the company’s stock, valued at $2,636,923.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 2.12% of the stock is owned by insiders.

Several institutional investors have recently added to or reduced their stakes in ATVI. QS Investors LLC raised its stake in shares of Activision Blizzard by 15.3% in the 2nd quarter. QS Investors LLC now owns 20,396 shares of the company’s stock valued at $1,174,000 after acquiring an additional 2,700 shares during the period. Macquarie Group Ltd. raised its stake in shares of Activision Blizzard by 0.4% in the 2nd quarter. Macquarie Group Ltd. now owns 12,345 shares of the company’s stock valued at $711,000 after acquiring an additional 45 shares during the period. Sciencast Management LP purchased a new stake in shares of Activision Blizzard in the 2nd quarter valued at approximately $238,000. Simmons Bank raised its stake in shares of Activision Blizzard by 14.9% in the 2nd quarter. Simmons Bank now owns 5,449 shares of the company’s stock valued at $314,000 after acquiring an additional 706 shares during the period. Finally, The Manufacturers Life Insurance Company raised its stake in shares of Activision Blizzard by 39.0% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 1,101,771 shares of the company’s stock valued at $63,430,000 after acquiring an additional 309,181 shares during the period. 86.04% of the stock is currently owned by institutional investors and hedge funds.

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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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