Activision Blizzard, Inc (NASDAQ:ATVI) had its target price upped by Mizuho to $50.00 in a note issued to investors on Friday. Mizuho’s target price points to a potential upside of 9.17% from the stock’s current price.
A number of other equities analysts have also recently commented on ATVI. Wedbush reiterated an “outperform” rating and issued a $53.00 target price on shares of Activision Blizzard in a report on Tuesday, January 31st. BMO Capital Markets dropped their target price on Activision Blizzard from $42.00 to $40.00 and set a “market perform” rating for the company in a report on Tuesday, November 22nd. Oppenheimer Holdings, Inc. started coverage on Activision Blizzard in a report on Friday, October 14th. They issued an “outperform” rating and a $53.00 target price for the company. Jefferies Group LLC reiterated a “buy” rating and issued a $55.00 target price on shares of Activision Blizzard in a report on Thursday, January 12th. Finally, Zacks Investment Research cut Activision Blizzard from a “buy” rating to a “hold” rating in a report on Monday, December 12th. One analyst has rated the stock with a sell rating, five have given a hold rating and sixteen have given a buy rating to the company. Activision Blizzard presently has a consensus rating of “Buy” and an average price target of $47.95.
Activision Blizzard (NASDAQ:ATVI) traded down 2.90% on Friday, hitting $45.86. 18,201,214 shares of the stock traded hands. The company has a market cap of $34.12 billion, a price-to-earnings ratio of 35.83 and a beta of 1.03. Activision Blizzard has a 1-year low of $26.49 and a 1-year high of $47.64. The stock has a 50-day moving average price of $38.93 and a 200 day moving average price of $40.57.
Activision Blizzard (NASDAQ:ATVI) last released its quarterly earnings data on Thursday, February 9th. The company reported $0.92 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.73 by $0.19. Activision Blizzard had a return on equity of 16.70% and a net margin of 13.86%. The business had revenue of $2.45 billion for the quarter, compared to the consensus estimate of $2.39 billion. During the same quarter in the previous year, the company posted $0.83 EPS. The company’s revenue was up 81.2% compared to the same quarter last year. On average, analysts anticipate that Activision Blizzard will post $1.98 EPS for the current fiscal year.
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In related news, CEO Riccardo Zacconi sold 19,761 shares of the company’s stock in a transaction dated Thursday, November 17th. The stock was sold at an average price of $40.09, for a total transaction of $792,218.49. Following the transaction, the chief executive officer now directly owns 69,583 shares of the company’s stock, valued at approximately $2,789,582.47. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 25.23% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in ATVI. Lone Pine Capital LLC purchased a new stake in Activision Blizzard during the second quarter valued at $407,916,000. Ameriprise Financial Inc. increased its stake in Activision Blizzard by 45.0% in the second quarter. Ameriprise Financial Inc. now owns 30,276,592 shares of the company’s stock valued at $1,199,862,000 after buying an additional 9,390,129 shares during the last quarter. Capital World Investors purchased a new stake in Activision Blizzard during the third quarter valued at $334,624,000. Davis Selected Advisers purchased a new stake in Activision Blizzard during the second quarter valued at $278,503,000. Finally, UBS Asset Management Americas Inc. increased its stake in Activision Blizzard by 196.8% in the third quarter. UBS Asset Management Americas Inc. now owns 5,664,267 shares of the company’s stock valued at $250,926,000 after buying an additional 3,755,685 shares during the last quarter. 86.29% of the stock is currently owned by institutional investors.
About Activision Blizzard
Activision Blizzard, Inc is a developer and publisher of online, personal computer (PC), video game console, handheld, mobile and tablet games. The Company operates through Activision Publishing, Inc (Activision) and its subsidiaries, Blizzard Entertainment, Inc (Blizzard) and its subsidiaries, and Other segments.
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