Activision Blizzard (ATVI) Upgraded to “Buy” by Goldman Sachs Group

Activision Blizzard (NASDAQ:ATVI) was upgraded by equities research analysts at Goldman Sachs Group from a “neutral” rating to a “buy” rating in a report issued on Tuesday.

A number of other equities research analysts have also commented on the stock. Vetr upgraded shares of Activision Blizzard from a “hold” rating to a “buy” rating and set a $62.29 price target for the company in a report on Tuesday, December 5th. Piper Jaffray Companies reissued a “buy” rating and set a $70.00 price objective on shares of Activision Blizzard in a research report on Wednesday, November 8th. Hilliard Lyons raised shares of Activision Blizzard from an “underperform” rating to a “neutral” rating in a research report on Wednesday, November 8th. UBS boosted their price objective on shares of Activision Blizzard from $72.00 to $75.00 and gave the company a “buy” rating in a research report on Friday, November 3rd. Finally, Morgan Stanley boosted their price objective on shares of Activision Blizzard from $70.00 to $72.00 and gave the company an “overweight” rating in a research report on Friday, November 3rd. Four research analysts have rated the stock with a hold rating, twenty-five have given a buy rating and one has assigned a strong buy rating to the company. Activision Blizzard has an average rating of “Buy” and an average price target of $68.71.

Shares of Activision Blizzard (NASDAQ ATVI) opened at $63.17 on Tuesday. Activision Blizzard has a 1-year low of $35.86 and a 1-year high of $67.03. The company has a current ratio of 2.25, a quick ratio of 2.22 and a debt-to-equity ratio of 0.44. The company has a market cap of $47,203.30, a price-to-earnings ratio of 28.38, a P/E/G ratio of 2.17 and a beta of 1.03.

In related news, CEO Riccardo Zacconi sold 19,761 shares of the company’s stock in a transaction dated Friday, November 17th. The shares were sold at an average price of $63.64, for a total value 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. Insiders own 2.12% of the company’s stock.

Institutional investors have recently made changes to their positions in the stock. Cornerstone Advisors Inc. boosted its stake in Activision Blizzard by 321.5% in the 3rd quarter. Cornerstone Advisors Inc. now owns 1,547 shares of the company’s stock worth $100,000 after purchasing an additional 1,180 shares in the last quarter. Grove Bank & Trust lifted its stake in Activision Blizzard by 261.7% during the 3rd quarter. Grove Bank & Trust now owns 2,170 shares of the company’s stock valued at $140,000 after acquiring an additional 1,570 shares during the period. Bronfman E.L. Rothschild L.P. lifted its stake in Activision Blizzard by 16.2% during the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 2,606 shares of the company’s stock valued at $150,000 after acquiring an additional 363 shares during the period. Phocas Financial Corp. bought a new position in Activision Blizzard during the 2nd quarter valued at about $173,000. Finally, Chicago Equity Partners LLC bought a new position in Activision Blizzard during the 3rd quarter valued at about $204,000. Institutional investors own 86.57% of the company’s stock.

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Activision Blizzard Company Profile

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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