BidaskClub upgraded shares of Activision Blizzard (NASDAQ:ATVI) from a buy rating to a strong-buy rating in a report published on Wednesday morning.
Several other analysts have also recently weighed in on ATVI. Zacks Investment Research upgraded shares of Activision Blizzard from a sell rating to a hold rating in a report on Friday, May 11th. Wedbush set a $81.00 price target on Activision Blizzard and gave the stock a buy rating in a research report on Sunday, May 6th. TheStreet raised Activision Blizzard from a c+ rating to a b rating in a research report on Thursday, May 3rd. Bank of America decreased their target price on Activision Blizzard from $77.00 to $76.00 and set a buy rating for the company in a research report on Friday, May 4th. Finally, Credit Suisse Group boosted their target price on Activision Blizzard from $84.00 to $85.00 and gave the stock an outperform rating in a research report on Friday, May 4th. Seven equities research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and two have given a strong buy rating to the stock. The stock has an average rating of Buy and a consensus target price of $75.41.
Shares of Activision Blizzard opened at $77.41 on Wednesday, Marketbeat.com reports. The stock has a market capitalization of $59.15 billion, a PE ratio of 37.76, a PEG ratio of 2.02 and a beta of 1.20. The company has a current ratio of 2.19, a quick ratio of 2.18 and a debt-to-equity ratio of 0.45. Activision Blizzard has a 12-month low of $55.86 and a 12-month high of $79.63.
In related news, CEO Riccardo Zacconi sold 19,761 shares of the company’s stock in a transaction dated Thursday, May 17th. The stock was sold at an average price of $70.49, for a total value of $1,392,952.89. Following the completion of the sale, the chief executive officer now directly owns 27,361 shares of the company’s stock, valued at approximately $1,928,676.89. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 1.29% of the stock is owned by corporate insiders.
Several hedge funds have recently modified their holdings of ATVI. OppenheimerFunds Inc. raised its stake in shares of Activision Blizzard by 284.7% during the 1st quarter. OppenheimerFunds Inc. now owns 4,159,793 shares of the company’s stock worth $280,621,000 after buying an additional 3,078,408 shares in the last quarter. BlackRock Inc. grew its holdings in Activision Blizzard by 5.8% during the 4th quarter. BlackRock Inc. now owns 54,967,203 shares of the company’s stock valued at $3,480,525,000 after buying an additional 2,992,193 shares during the last quarter. CI Global Investments Inc. grew its holdings in Activision Blizzard by 2,744.5% during the 1st quarter. CI Global Investments Inc. now owns 1,966,218 shares of the company’s stock valued at $132,641,000 after buying an additional 1,897,095 shares during the last quarter. Alecta Pensionsforsakring Omsesidigt acquired a new stake in shares of Activision Blizzard during the first quarter worth $94,402,000. Finally, Schroder Investment Management Group boosted its holdings in shares of Activision Blizzard by 109.5% during the fourth quarter. Schroder Investment Management Group now owns 2,659,241 shares of the company’s stock worth $168,383,000 after purchasing an additional 1,390,105 shares during the last quarter. 85.78% of the stock is owned by institutional investors and hedge funds.
About Activision Blizzard
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.
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