Activision Blizzard, Inc. (NASDAQ:ATVI) Receives $96.37 Consensus Target Price from Brokerages

Shares of Activision Blizzard, Inc. (NASDAQ:ATVIGet Rating) have been assigned a consensus rating of “Hold” from the twenty-eight ratings firms that are presently covering the firm, MarketBeat Ratings reports. Sixteen analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $95.84.

A number of research analysts have issued reports on the company. Moffett Nathanson upgraded Activision Blizzard from a “neutral” rating to a “buy” rating and set a $95.00 price target for the company in a research report on Wednesday. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Activision Blizzard from $95.00 to $84.00 in a report on Thursday. Finally, Jefferies Financial Group reissued a “buy” rating and set a $95.00 target price on shares of Activision Blizzard in a research note on Wednesday, April 27th.

Insider Buying and Selling at Activision Blizzard

In other news, CFO Armin Zerza sold 10,174 shares of the stock in a transaction that occurred on Wednesday, August 3rd. The shares were sold at an average price of $80.22, for a total value of $816,158.28. Following the completion of the sale, the chief financial officer now directly owns 186,117 shares of the company’s stock, valued at $14,930,305.74. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.77% of the company’s stock.

Institutional Trading of Activision Blizzard

Several hedge funds and other institutional investors have recently modified their holdings of the company. Confluence Wealth Services Inc. purchased a new stake in shares of Activision Blizzard during the 4th quarter worth about $25,000. ACG Wealth bought a new stake in Activision Blizzard in the second quarter worth approximately $25,000. Joseph P. Lucia & Associates LLC acquired a new position in shares of Activision Blizzard during the 2nd quarter worth $25,000. MV Capital Management Inc. raised its holdings in shares of Activision Blizzard by 275.5% during the 1st quarter. MV Capital Management Inc. now owns 353 shares of the company’s stock valued at $28,000 after purchasing an additional 259 shares in the last quarter. Finally, Orion Capital Management LLC boosted its holdings in Activision Blizzard by 75.7% in the second quarter. Orion Capital Management LLC now owns 355 shares of the company’s stock worth $28,000 after purchasing an additional 153 shares in the last quarter. 83.11% of the stock is currently owned by hedge funds and other institutional investors.

Activision Blizzard Stock Down 0.2 %

ATVI stock opened at $80.49 on Wednesday. The stock has a market cap of $62.97 billion, a PE ratio of 33.54, a price-to-earnings-growth ratio of 2.26 and a beta of 0.51. The firm’s 50-day simple moving average is $77.80 and its 200 day simple moving average is $78.88. Activision Blizzard has a fifty-two week low of $56.40 and a fifty-two week high of $86.90. The company has a quick ratio of 5.45, a current ratio of 6.18 and a debt-to-equity ratio of 0.20.

Activision Blizzard (NASDAQ:ATVIGet Rating) last announced its quarterly earnings results on Monday, August 1st. The company reported $0.47 EPS for the quarter, beating the consensus estimate of $0.38 by $0.09. The company had revenue of $1.64 billion for the quarter, compared to analyst estimates of $1.57 billion. Activision Blizzard had a net margin of 24.57% and a return on equity of 10.22%. Activision Blizzard’s revenue was down 14.6% compared to the same quarter last year. During the same quarter last year, the business earned $0.86 earnings per share. As a group, sell-side analysts predict that Activision Blizzard will post 2.46 EPS for the current year.

About Activision Blizzard

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Activision Blizzard, Inc, together with its subsidiaries, develops and publishes interactive entertainment content and services in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company operates through three segments: Activision, Blizzard, and King. It develops and distributes content and services on video game consoles, personal computers, and mobile devices, including subscription, full-game, and in-game sales, as well as by licensing software to third-party or related-party companies that distribute Activision and Blizzard products.

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Analyst Recommendations for Activision Blizzard (NASDAQ:ATVI)

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