Activision Blizzard, Inc (ATVI) Lifted to “Neutral” at Hilliard Lyons

Hilliard Lyons upgraded shares of Activision Blizzard, Inc (NASDAQ:ATVI) from an underperform rating to a neutral rating in a research report report published on Wednesday, November 8th, Marketbeat Ratings reports.

Several other research firms have also recently commented on ATVI. Bank of America Corporation raised shares of Activision Blizzard from a neutral rating to a buy rating and boosted their price objective for the company from $65.00 to $76.00 in a research report on Friday, August 4th. Needham & Company LLC initiated coverage on shares of Activision Blizzard in a research report on Monday, July 17th. They issued a buy rating and a $75.00 price objective on the stock. Jefferies Group LLC reaffirmed a buy rating and issued a $68.00 price objective on shares of Activision Blizzard in a research report on Thursday, July 13th. Vetr cut shares of Activision Blizzard from a strong-buy rating to a buy rating and set a $67.48 price objective on the stock. in a research report on Wednesday, July 12th. Finally, UBS AG reaffirmed a buy rating and issued a $72.00 price objective (up from $67.00) on shares of Activision Blizzard in a research report on Monday, July 31st. One analyst has rated the stock with a sell rating, five have assigned a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has an average rating of Buy and a consensus target price of $68.68.

Activision Blizzard (ATVI) traded down $0.29 on Wednesday, reaching $65.74. 4,116,617 shares of the company’s stock were exchanged, compared to its average volume of 6,731,123. Activision Blizzard has a 12-month low of $35.12 and a 12-month high of $67.03. The firm has a market cap of $49,710.00, a price-to-earnings ratio of 30.01, a PEG ratio of 2.29 and a beta of 1.06. The company has a quick ratio of 2.22, a current ratio of 2.25 and a debt-to-equity ratio of 0.44.

In other Activision Blizzard news, CEO Riccardo Zacconi sold 19,761 shares of the stock in a transaction that occurred on Friday, November 17th. The shares were sold at an average price of $63.64, for a total transaction of $1,257,590.04. Following the transaction, the chief executive officer now owns 41,435 shares in the company, valued at approximately $2,636,923.40. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 2.12% of the company’s stock.

Several institutional investors have recently modified their holdings of the company. BlackRock Inc. lifted its stake 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 purchasing an additional 235,362 shares during the last quarter. Vanguard Group Inc. lifted its stake 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 purchasing an additional 2,200,995 shares during the last quarter. State Street Corp lifted its stake 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 purchasing an additional 1,197,980 shares during the last quarter. Capital World Investors raised its stake in shares of Activision Blizzard by 23.8% during the second quarter. Capital World Investors now owns 22,538,000 shares of the company’s stock valued at $1,297,513,000 after acquiring an additional 4,327,000 shares during the last quarter. Finally, Jennison Associates LLC raised its stake in shares of Activision Blizzard by 82.6% during the second quarter. Jennison Associates LLC now owns 22,287,591 shares of the company’s stock valued at $1,283,097,000 after acquiring an additional 10,083,717 shares during the last quarter. 84.23% of the stock is owned by institutional investors.

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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.

Analyst Recommendations for Activision Blizzard (NASDAQ:ATVI)

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