Activision Blizzard, Inc. (ATVI) Given Average Recommendation of “Buy” by Brokerages

Activision Blizzard, Inc. (NASDAQ:ATVI) has been given an average recommendation of “Buy” by the thirty-three brokerages that are covering the firm, MarketBeat Ratings reports. Five analysts have rated the stock with a hold recommendation, twenty-six have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $71.84.

Several equities analysts have recently weighed in on the company. UBS Group lifted their price objective on Activision Blizzard from $72.00 to $75.00 and gave the company a “buy” rating in a report on Friday, November 3rd. KeyCorp reiterated a “buy” rating and set a $74.00 price objective on shares of Activision Blizzard in a report on Tuesday, October 17th. Jefferies Group lifted their price objective on Activision Blizzard from $80.00 to $82.00 and gave the company a “buy” rating in a report on Friday, November 3rd. SunTrust Banks set a $72.00 price objective on Activision Blizzard and gave the company a “buy” rating in a report on Sunday, October 29th. Finally, Wedbush set a $75.00 price objective on Activision Blizzard and gave the company a “buy” rating in a report on Thursday, October 26th.

Activision Blizzard (ATVI) traded down $0.25 during trading on Tuesday, hitting $68.07. The stock had a trading volume of 5,133,695 shares, compared to its average volume of 6,710,000. The firm has a market cap of $51,440.00, a price-to-earnings ratio of 194.49, a P/E/G ratio of 1.85 and a beta of 1.11. Activision Blizzard has a 52 week low of $44.47 and a 52 week high of $74.94. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.78 and a quick ratio of 1.77.

Activision Blizzard (NASDAQ:ATVI) last posted its earnings results on Thursday, February 8th. The company reported $0.94 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.92 by $0.02. The company had revenue of $2.64 billion during the quarter, compared to analyst estimates of $2.55 billion. Activision Blizzard had a return on equity of 17.48% and a net margin of 3.89%. The company’s revenue for the quarter was up 7.7% compared to the same quarter last year. During the same period in the previous year, the company earned $0.65 EPS. equities research analysts expect that Activision Blizzard will post 2.48 EPS for the current fiscal year.

In other news, CEO of King Digital Entertainment Riccardo Zacconi sold 19,761 shares of the company’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 sale, the insider now owns 41,435 shares in the company, valued at approximately $2,636,923.40. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 2.12% of the company’s stock.

Several hedge funds have recently bought and sold shares of ATVI. Macquarie Group Ltd. increased its holdings in shares of Activision Blizzard by 0.4% during the 2nd quarter. Macquarie Group Ltd. now owns 12,345 shares of the company’s stock worth $711,000 after acquiring an additional 45 shares during the last quarter. Dynamic Technology Lab Private Ltd increased its holdings in shares of Activision Blizzard by 97.1% during the 2nd quarter. Dynamic Technology Lab Private Ltd now owns 8,600 shares of the company’s stock worth $495,000 after acquiring an additional 4,237 shares during the last quarter. Advisory Services Network LLC increased its holdings in shares of Activision Blizzard by 142.7% during the 2nd quarter. Advisory Services Network LLC now owns 10,405 shares of the company’s stock worth $599,000 after acquiring an additional 6,117 shares during the last quarter. Cetera Investment Advisers acquired a new position in shares of Activision Blizzard during the 2nd quarter worth approximately $313,000. Finally, Cookson Peirce & Co. Inc. increased its holdings in shares of Activision Blizzard by 23.2% during the 2nd quarter. Cookson Peirce & Co. Inc. now owns 18,510 shares of the company’s stock worth $1,066,000 after acquiring an additional 3,490 shares during the last quarter. 85.61% of the stock is currently owned by institutional investors and hedge funds.

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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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