Activision Blizzard (NASDAQ:ATVI) had its target price upped by Piper Jaffray Companies from $55.00 to $62.00 in a research report report published on Wednesday morning, BenzingaRatingsTable reports. The firm currently has an overweight rating on the stock.
ATVI has been the subject of several other reports. Morgan Stanley restated an overweight rating and set a $57.00 price target (up from $55.00) on shares of Activision Blizzard in a research note on Friday, August 9th. SunTrust Banks upped their price target on Activision Blizzard from $52.00 to $56.00 and gave the stock a buy rating in a research note on Monday, August 12th. Wedbush restated an outperform rating and set a $60.00 price target on shares of Activision Blizzard in a research note on Friday, August 9th. KeyCorp restated an overweight rating and set a $60.00 price target on shares of Activision Blizzard in a research note on Tuesday, July 30th. Finally, ValuEngine upgraded Activision Blizzard from a hold rating to a buy rating in a research note on Thursday, August 1st. Eight research analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and one has given a strong buy rating to the company’s stock. Activision Blizzard presently has an average rating of Buy and a consensus target price of $62.23.
Shares of NASDAQ:ATVI opened at $54.76 on Wednesday. The firm has a market capitalization of $42.28 billion, a PE ratio of 23.97, a P/E/G ratio of 2.14 and a beta of 0.89. The company has a debt-to-equity ratio of 0.22, a current ratio of 3.46 and a quick ratio of 3.43. The business has a 50-day moving average of $50.54 and a two-hundred day moving average of $47.04. Activision Blizzard has a 12 month low of $39.85 and a 12 month high of $84.68.
Activision Blizzard (NASDAQ:ATVI) last announced its quarterly earnings results on Thursday, August 8th. The company reported $0.34 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.20 by $0.14. The company had revenue of $1.21 billion during the quarter, compared to analyst estimates of $1.19 billion. Activision Blizzard had a return on equity of 15.54% and a net margin of 23.69%. The firm’s revenue was down 12.9% on a year-over-year basis. During the same period in the prior year, the firm posted $0.41 earnings per share. As a group, research analysts anticipate that Activision Blizzard will post 2 earnings per share for the current year.
In related news, insider Christopher B. Walther sold 11,333 shares of the stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $47.91, for a total value of $542,964.03. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Christopher B. Walther sold 5,333 shares of the stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $50.83, for a total value of $271,076.39. The disclosure for this sale can be found here. In the last quarter, insiders sold 156,844 shares of company stock valued at $7,528,095. Insiders own 1.29% of the company’s stock.
A number of institutional investors and hedge funds have recently modified their holdings of the stock. Capital Investment Advisory Services LLC lifted its holdings in Activision Blizzard by 189.5% during the 2nd quarter. Capital Investment Advisory Services LLC now owns 553 shares of the company’s stock worth $25,000 after buying an additional 362 shares during the last quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC bought a new position in Activision Blizzard during the 1st quarter worth approximately $27,000. Redhawk Wealth Advisors Inc. bought a new position in Activision Blizzard during the 2nd quarter worth approximately $29,000. Thor Advisors LLC bought a new position in Activision Blizzard during the 1st quarter worth approximately $40,000. Finally, Kavar Capital Partners LLC bought a new position in Activision Blizzard during the 2nd quarter worth approximately $47,000. 86.97% of the stock is owned by hedge funds and other institutional investors.
Activision Blizzard Company Profile
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. It 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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