Activision Blizzard (NASDAQ:ATVI) Lowered to Hold at BidaskClub

Activision Blizzard (NASDAQ:ATVI) was downgraded by BidaskClub from a “buy” rating to a “hold” rating in a report issued on Wednesday, December 27th.

ATVI has been the topic of a number of other reports. Stifel Nicolaus reissued a “buy” rating on shares of Activision Blizzard in a research report on Sunday, September 10th. Wedbush set a $75.00 price target on Activision Blizzard and gave the stock a “buy” rating in a research report on Thursday, October 26th. Piper Jaffray Companies reissued an “overweight” rating and issued a $69.00 price target on shares of Activision Blizzard in a research report on Friday, September 8th. Vetr raised Activision Blizzard from a “hold” rating to a “buy” rating and set a $64.58 price objective on the stock in a research report on Tuesday, October 10th. Finally, Zacks Investment Research raised Activision Blizzard from a “hold” rating to a “strong-buy” rating and set a $71.00 price objective on the stock in a research report on Friday, October 27th. Seven research analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $69.91.

Activision Blizzard (NASDAQ:ATVI) opened at $69.24 on Wednesday. The company has a current ratio of 2.25, a quick ratio of 2.22 and a debt-to-equity ratio of 0.44. Activision Blizzard has a twelve month low of $38.38 and a twelve month high of $69.33. The firm has a market capitalization of $52,350.00, a P/E ratio of 47.42, a price-to-earnings-growth ratio of 1.94 and a beta of 1.02.

In other news, CEO Riccardo Zacconi sold 19,761 shares of the company’s stock in a transaction 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 completion of the sale, the chief executive officer now directly owns 41,435 shares in the company, valued at approximately $2,636,923.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 2.12% of the company’s stock.

Several large investors have recently bought and sold shares of ATVI. BlackRock Inc. increased 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 worth $2,829,418,000 after buying an additional 235,362 shares in the last quarter. Vanguard Group Inc. increased 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 worth $2,786,211,000 after buying an additional 2,200,995 shares in the last quarter. State Street Corp increased 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 worth $1,536,010,000 after buying an additional 1,197,980 shares in the last quarter. Capital World Investors increased its stake in Activision Blizzard by 23.8% in the 2nd quarter. Capital World Investors now owns 22,538,000 shares of the company’s stock worth $1,297,513,000 after buying an additional 4,327,000 shares in the last quarter. Finally, Janus Henderson Group PLC increased its stake in Activision Blizzard by 820.8% in the 2nd quarter. Janus Henderson Group PLC now owns 20,298,735 shares of the company’s stock worth $1,168,587,000 after buying an additional 18,094,334 shares in the last quarter. Hedge funds and other institutional investors own 86.48% of the company’s stock.

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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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