Activision Blizzard (ATVI) Earns “Positive” Rating from Citigroup

Citigroup reissued their positive rating on shares of Activision Blizzard (NASDAQ:ATVI) in a research note published on Monday, March 12th. Citigroup currently has a $87.00 price objective on the stock, up from their prior price objective of $78.00.

Several other research firms also recently weighed in on ATVI. Vetr downgraded Activision Blizzard from a strong-buy rating to a buy rating and set a $83.48 target price for the company. in a research report on Monday, March 12th. Zacks Investment Research lowered Activision Blizzard from a buy rating to a hold rating in a research note on Thursday, March 8th. Stifel Nicolaus reiterated a buy rating and issued a $77.00 target price on shares of Activision Blizzard in a research note on Thursday, February 1st. BidaskClub upgraded Activision Blizzard from a buy rating to a strong-buy rating in a research note on Thursday, March 1st. Finally, Credit Suisse Group reiterated a buy rating and issued a $81.00 target price on shares of Activision Blizzard in a research note on Friday, January 26th. Six analysts have rated the stock with a hold rating, twenty-five have given a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of Buy and an average target price of $75.03.

Shares of ATVI stock traded down $1.97 on Monday, reaching $64.56. The company’s stock had a trading volume of 4,598,148 shares, compared to its average volume of 6,872,722. Activision Blizzard has a 1 year low of $48.41 and a 1 year high of $79.63. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.77 and a current ratio of 1.78. The firm has a market cap of $50,274.52, a PE ratio of 31.49, a price-to-earnings-growth ratio of 1.77 and a beta of 1.16.

Activision Blizzard (NASDAQ:ATVI) last issued its quarterly earnings results on Thursday, February 8th. The company reported $0.94 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.92 by $0.02. Activision Blizzard had a return on equity of 17.48% and a net margin of 3.89%. The company had revenue of $2.64 billion during the quarter, compared to the consensus estimate of $2.55 billion. During the same period last year, the company earned $0.65 earnings per share. Activision Blizzard’s revenue was up 7.7% on a year-over-year basis. equities analysts predict that Activision Blizzard will post 2.57 EPS for the current year.

In other Activision Blizzard news, CEO Riccardo Zacconi sold 19,761 shares of the company’s stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $70.99, for a total value of $1,402,833.39. Following the completion of the sale, the chief executive officer now directly owns 34,398 shares in the company, valued at approximately $2,441,914.02. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Brian G. Kelly sold 1,700,000 shares of the company’s stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $70.65, for a total value of $120,105,000.00. Following the completion of the sale, the director now owns 69,474 shares of the company’s stock, valued at $4,908,338.10. The disclosure for this sale can be found here. Insiders have sold 2,701,258 shares of company stock valued at $191,727,094 over the last quarter. 2.12% of the stock is owned by company insiders.

Several institutional investors have recently made changes to their positions in the company. BlackRock Inc. lifted its stake in shares of Activision Blizzard by 5.8% in the 4th quarter. BlackRock Inc. now owns 54,967,203 shares of the company’s stock valued at $3,480,525,000 after purchasing an additional 2,992,193 shares during the last quarter. Egerton Capital UK LLP lifted its stake in shares of Activision Blizzard by 22.0% in the 4th quarter. Egerton Capital UK LLP now owns 11,051,017 shares of the company’s stock valued at $699,750,000 after purchasing an additional 1,991,213 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in shares of Activision Blizzard by 7.4% in the 4th quarter. Bank of New York Mellon Corp now owns 8,026,958 shares of the company’s stock valued at $508,266,000 after purchasing an additional 550,833 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Activision Blizzard by 3.3% in the 4th quarter. Geode Capital Management LLC now owns 7,790,249 shares of the company’s stock valued at $492,227,000 after purchasing an additional 252,340 shares during the last quarter. Finally, Carmignac Gestion lifted its stake in shares of Activision Blizzard by 0.5% in the 3rd quarter. Carmignac Gestion now owns 5,920,188 shares of the company’s stock valued at $381,911,000 after purchasing an additional 26,761 shares during the last quarter. 85.57% of the stock is currently owned by institutional investors and hedge funds.

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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. 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.

Analyst Recommendations for Activision Blizzard (NASDAQ:ATVI)

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