Activision Blizzard (ATVI) Given a $70.00 Price Target at Barclays

Barclays set a $70.00 target price on Activision Blizzard (NASDAQ:ATVI) in a research note published on Friday morning. The brokerage currently has a hold rating on the stock.

ATVI has been the topic of a number of other research reports. Wedbush set a $75.00 price objective on shares of Activision Blizzard and gave the stock a buy rating in a report on Thursday, October 26th. Zacks Investment Research raised shares of Activision Blizzard from a hold rating to a strong-buy rating and set a $71.00 price objective on the stock in a report on Friday, October 27th. UBS Group increased their price objective on shares of Activision Blizzard from $72.00 to $75.00 and gave the stock a buy rating in a report on Friday, November 3rd. KeyCorp reissued a buy rating and set a $74.00 price objective on shares of Activision Blizzard in a report on Tuesday, October 17th. Finally, Vetr lowered shares of Activision Blizzard from a hold rating to a sell rating and set a $59.97 price objective on the stock. in a report on Monday, October 30th. Six equities research analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Activision Blizzard presently has an average rating of Buy and a consensus target price of $71.75.

Shares of Activision Blizzard (ATVI) traded up $1.25 during trading hours on Friday, reaching $67.08. 18,580,019 shares of the company’s stock were exchanged, compared to its average volume of 6,080,000. Activision Blizzard has a 12-month low of $38.93 and a 12-month high of $74.94. 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 company has a market cap of $51,680.00, a price-to-earnings ratio of 191.66, a P/E/G ratio of 1.81 and a beta of 1.11.

Activision Blizzard (NASDAQ:ATVI) last issued its quarterly earnings data on Thursday, February 8th. The company reported $0.94 EPS for the quarter, topping analysts’ consensus estimates of $0.92 by $0.02. Activision Blizzard had a net margin of 3.89% and a return on equity of 17.37%. The firm had revenue of $2.64 billion for the quarter, compared to analyst estimates of $2.55 billion. During the same quarter in the prior year, the firm earned $0.65 EPS. The company’s revenue was up 7.7% on a year-over-year basis. analysts expect that Activision Blizzard will post 2.48 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 9th. Investors of record on Friday, March 30th will be given a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a dividend yield of 2.03%. This is an increase from Activision Blizzard’s previous quarterly dividend of $0.30. The ex-dividend date of this dividend is Wednesday, March 28th. Activision Blizzard’s dividend payout ratio (DPR) is currently 85.71%.

In related news, CEO Riccardo Zacconi sold 19,761 shares of the stock in a transaction that occurred 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 filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 2.12% of the company’s stock.

Several large investors have recently made changes to their positions in ATVI. Macquarie Group Ltd. raised its position 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. BB&T Investment Services Inc. acquired a new stake in shares of Activision Blizzard in the 2nd quarter valued at approximately $189,000. Public Employees Retirement System of Ohio raised its position in shares of Activision Blizzard by 34.1% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 509,088 shares of the company’s stock valued at $29,308,000 after acquiring an additional 129,556 shares during the period. WINTON GROUP Ltd raised its position in shares of Activision Blizzard by 13.5% in the 2nd quarter. WINTON GROUP Ltd now owns 425,331 shares of the company’s stock valued at $24,486,000 after acquiring an additional 50,616 shares during the period. Finally, Dynamic Technology Lab Private Ltd raised its position in shares of Activision Blizzard by 97.1% in the 2nd quarter. Dynamic Technology Lab Private Ltd now owns 8,600 shares of the company’s stock valued at $495,000 after acquiring an additional 4,237 shares during the period. Institutional investors and hedge funds own 86.04% 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.

Analyst Recommendations for Activision Blizzard (NASDAQ:ATVI)

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