A number of other analysts also recently issued reports on the company. Cowen downgraded Activision Blizzard from an outperform rating to a market perform rating and set a $66.00 target price for the company. in a research report on Monday, October 9th. Zacks Investment Research upgraded Activision Blizzard from a hold rating to a strong-buy rating and set a $71.00 price target for the company in a research report on Friday, October 27th. Vetr cut Activision Blizzard from a buy rating to a hold rating and set a $59.97 price target for the company. in a research report on Monday, October 23rd. Wedbush set a $75.00 price target on Activision Blizzard and gave the company a buy rating in a research report on Thursday, October 26th. Finally, Goldman Sachs Group raised Activision Blizzard from a neutral rating to a buy rating in a research note on Tuesday, December 12th. Seven analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the company’s stock. The stock presently has a consensus rating of Buy and a consensus target price of $70.04.
Activision Blizzard (NASDAQ:ATVI) traded down $0.48 during midday trading on Monday, reaching $69.88. The company had a trading volume of 3,747,564 shares, compared to its average volume of 5,655,391. Activision Blizzard has a fifty-two week low of $38.38 and a fifty-two week high of $71.18. The firm has a market capitalization of $52,850.00, a PE ratio of 47.86, a P/E/G ratio of 2.01 and a beta of 1.02. The company has a quick ratio of 2.22, a current ratio of 2.25 and a debt-to-equity ratio of 0.44.
Activision Blizzard (NASDAQ:ATVI) last announced its quarterly earnings results on Thursday, November 2nd. The company reported $0.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.45 by $0.11. Activision Blizzard had a return on equity of 17.56% and a net margin of 15.90%. sell-side analysts predict that Activision Blizzard will post 2.1 earnings per share for the current year.
In other news, CEO Riccardo Zacconi sold 19,761 shares of the business’s stock in a transaction that occurred on Friday, November 17th. The stock was 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 of the company’s stock, valued at approximately $2,636,923.40. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 2.12% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. lifted its position in Activision Blizzard by 0.5% in the 2nd quarter. BlackRock Inc. now owns 49,147,427 shares of the company’s stock valued at $2,829,418,000 after acquiring an additional 235,362 shares in the last quarter. Vanguard Group Inc. lifted its position in Activision Blizzard by 4.8% in the 2nd quarter. Vanguard Group Inc. now owns 48,396,938 shares of the company’s stock valued at $2,786,211,000 after acquiring an additional 2,200,995 shares in the last quarter. State Street Corp lifted its position in Activision Blizzard by 4.7% in the 2nd quarter. State Street Corp now owns 26,680,585 shares of the company’s stock valued at $1,536,010,000 after acquiring an additional 1,197,980 shares in the last quarter. Capital World Investors lifted its holdings 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 valued at $1,297,513,000 after buying an additional 4,327,000 shares during the period. Finally, Janus Henderson Group PLC lifted its holdings in shares of Activision Blizzard by 820.8% during the 2nd quarter. Janus Henderson Group PLC now owns 20,298,735 shares of the company’s stock valued at $1,168,587,000 after buying an additional 18,094,334 shares during the period. 86.49% of the stock is currently owned by institutional investors and hedge funds.
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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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