Activision Blizzard, Inc (NASDAQ:ATVI) has earned a consensus recommendation of “Buy” from the thirty brokerages that are presently covering the firm, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell recommendation, four have assigned a hold recommendation, twenty-three have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $68.59.
A number of research firms recently weighed in on ATVI. UBS AG lifted their target price on shares of Activision Blizzard from $72.00 to $75.00 and gave the company a “buy” rating in a research note on Friday. Morgan Stanley lifted their target price on shares of Activision Blizzard from $70.00 to $72.00 and gave the company an “overweight” rating in a research note on Friday. Jefferies Group LLC lifted their target price on shares of Activision Blizzard from $80.00 to $82.00 and gave the company a “buy” rating in a research note on Friday. Robert W. Baird lifted their target price on shares of Activision Blizzard from $68.00 to $75.00 and gave the company an “outperform” rating in a research note on Friday. Finally, BMO Capital Markets restated a “hold” rating and set a $62.00 target price on shares of Activision Blizzard in a research note on Thursday.
Activision Blizzard (ATVI) traded down $2.25 on Friday, hitting $63.20. 18,650,840 shares of the company were exchanged, compared to its average volume of 5,450,518. The company has a debt-to-equity ratio of 0.45, a quick ratio of 2.44 and a current ratio of 2.47. Activision Blizzard has a 52 week low of $35.12 and a 52 week high of $67.03. The stock has a market cap of $47,785.52, a PE ratio of 28.73, a price-to-earnings-growth ratio of 2.33 and a beta of 1.07.
In other news, CEO Riccardo Zacconi sold 19,761 shares of the business’s stock in a transaction dated 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 sale, the chief executive officer now directly owns 48,472 shares in the company, valued at approximately $2,972,303.04. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Brian G. Kelly sold 3,685,000 shares of the business’s stock in a transaction dated Wednesday, August 9th. The stock was sold at an average price of $61.93, for a total transaction of $228,212,050.00. Following the completion of the sale, the director now owns 189,791 shares in the company, valued at $11,753,756.63. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 4,074,879 shares of company stock worth $252,196,001. Insiders own 2.12% of the company’s stock.
Several institutional investors have recently bought and sold shares of the company. BlackRock Inc. increased its holdings in shares of Activision Blizzard by 0.5% in the 2nd quarter. BlackRock Inc. now owns 49,147,427 shares of the company’s stock worth $2,829,418,000 after buying an additional 235,362 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of Activision Blizzard by 4.8% during the 2nd quarter. Vanguard Group Inc. now owns 48,396,938 shares of the company’s stock worth $2,786,211,000 after purchasing an additional 2,200,995 shares during the period. State Street Corp boosted its stake in shares of Activision Blizzard by 4.7% during the 2nd quarter. State Street Corp now owns 26,680,585 shares of the company’s stock worth $1,536,010,000 after purchasing an additional 1,197,980 shares during the period. Capital World Investors boosted its stake in shares of Activision Blizzard by 23.8% during the 2nd quarter. Capital World Investors now owns 22,538,000 shares of the company’s stock worth $1,297,513,000 after purchasing an additional 4,327,000 shares during the period. Finally, Jennison Associates LLC boosted its stake in shares of Activision Blizzard by 82.6% during the 2nd quarter. Jennison Associates LLC now owns 22,287,591 shares of the company’s stock worth $1,283,097,000 after purchasing an additional 10,083,717 shares during the period. Hedge funds and other institutional investors own 86.27% of the company’s stock.
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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.
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