Activision Blizzard (ATVI) Stock Price Down 5.1%

Activision Blizzard, Inc. (NASDAQ:ATVI) shares fell 5.1% on Friday . The company traded as low as $49.26 and last traded at $49.88. 14,506,510 shares changed hands during mid-day trading, an increase of 110% from the average session volume of 6,906,594 shares. The stock had previously closed at $52.56.

A number of brokerages have weighed in on ATVI. Barclays upgraded shares of Activision Blizzard from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $79.00 to $86.00 in a research report on Monday, October 15th. BidaskClub upgraded shares of Activision Blizzard from a “sell” rating to a “hold” rating in a research report on Wednesday, August 15th. ValuEngine downgraded shares of Activision Blizzard from a “buy” rating to a “hold” rating in a research report on Tuesday, October 30th. Stifel Nicolaus decreased their price objective on shares of Activision Blizzard from $82.00 to $78.00 and set a “buy” rating for the company in a research report on Wednesday, October 31st. Finally, CIBC decreased their price objective on shares of Activision Blizzard from $87.00 to $68.00 and set an “outperform” rating for the company in a research report on Friday, November 9th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $75.99.

The company has a market capitalization of $38.06 billion, a P/E ratio of 24.33, a PEG ratio of 1.55 and a beta of 1.11. The company has a debt-to-equity ratio of 0.25, a quick ratio of 2.01 and a current ratio of 2.09.

Activision Blizzard (NASDAQ:ATVI) last released its earnings results on Thursday, November 8th. The company reported $0.47 EPS for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.03). The company had revenue of $1.66 billion for the quarter, compared to analysts’ expectations of $1.66 billion. Activision Blizzard had a return on equity of 15.44% and a net margin of 8.07%. The firm’s revenue for the quarter was down 12.6% on a year-over-year basis. During the same period in the prior year, the firm earned $0.25 EPS. Analysts anticipate that Activision Blizzard, Inc. will post 2.36 earnings per share for the current fiscal year.

Several hedge funds have recently added to or reduced their stakes in the company. FMR LLC increased its stake in shares of Activision Blizzard by 4.8% during the third quarter. FMR LLC now owns 96,798,252 shares of the company’s stock worth $8,052,646,000 after purchasing an additional 4,476,835 shares in the last quarter. BlackRock Inc. increased its stake in shares of Activision Blizzard by 0.4% during the second quarter. BlackRock Inc. now owns 51,100,165 shares of the company’s stock worth $3,899,967,000 after purchasing an additional 209,193 shares in the last quarter. Morgan Stanley grew its stake in Activision Blizzard by 0.9% during the 3rd quarter. Morgan Stanley now owns 22,245,576 shares of the company’s stock valued at $1,850,610,000 after acquiring an additional 197,024 shares in the last quarter. Jennison Associates LLC grew its stake in Activision Blizzard by 4.8% during the 3rd quarter. Jennison Associates LLC now owns 14,707,945 shares of the company’s stock valued at $1,223,554,000 after acquiring an additional 679,532 shares in the last quarter. Finally, Capital International Investors grew its stake in Activision Blizzard by 233.8% during the 3rd quarter. Capital International Investors now owns 9,072,649 shares of the company’s stock valued at $754,754,000 after acquiring an additional 6,354,412 shares in the last quarter. 87.83% of the stock is owned by institutional investors and hedge funds.

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About Activision Blizzard (NASDAQ:ATVI)

Activision Blizzard, Inc develops and distributes content and services on video game consoles, personal computers (PC), and mobile devices. The company operates through three segments: Activision Publishing, Inc; Blizzard Entertainment, Inc; and King Digital Entertainment. The company develops, publishes, and sells interactive software products and entertainment content for the console and PC platforms through retail and digital channels, including subscription, full-game, and in-game sales, as well as by licensing software to third-party or related-party companies; and offers downloadable content.

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