Analysts at SunTrust Banks, Inc. started coverage on shares of Activision Blizzard, Inc (NASDAQ:ATVI) in a research report issued to clients and investors on Thursday, June 29th, Marketbeat.com reports. The brokerage set a “buy” rating and a $67.00 price target on the stock. SunTrust Banks, Inc.’s price objective would indicate a potential upside of 9.03% from the stock’s previous close.
Other equities analysts have also issued research reports about the stock. Stifel Nicolaus reaffirmed a “buy” rating and set a $59.00 price objective (up previously from $53.00) on shares of Activision Blizzard in a research report on Tuesday, May 2nd. Benchmark Co. reaffirmed a “buy” rating and set a $57.88 price objective (up previously from $53.96) on shares of Activision Blizzard in a research report on Monday, May 1st. Jefferies Group LLC reaffirmed a “buy” rating and set a $55.00 price objective on shares of Activision Blizzard in a research report on Tuesday, April 18th. Vetr raised shares of Activision Blizzard from a “hold” rating to a “buy” rating and set a $50.88 price objective on the stock in a research report on Monday, April 17th. Finally, UBS AG reaffirmed a “buy” rating and set a $60.00 price objective (up previously from $57.00) on shares of Activision Blizzard in a research report on Friday, May 5th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and twenty-two have issued a buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $61.14.
Shares of Activision Blizzard (NASDAQ ATVI) traded up 0.46% during trading on Thursday, reaching $61.45. 4,285,663 shares of the company traded hands. The firm has a 50-day moving average price of $59.54 and a 200-day moving average price of $51.48. The firm has a market capitalization of $46.31 billion, a PE ratio of 45.08 and a beta of 1.07. Activision Blizzard has a 12 month low of $35.12 and a 12 month high of $63.19.
Activision Blizzard (NASDAQ:ATVI) last posted its quarterly earnings results on Thursday, May 4th. The company reported $0.27 EPS for the quarter, topping the consensus estimate of $0.16 by $0.11. The business had revenue of $1.20 billion during the quarter, compared to analysts’ expectations of $1.09 billion. Activision Blizzard had a net margin of 14.63% and a return on equity of 16.90%. The firm’s quarterly revenue was up 31.7% compared to the same quarter last year. During the same period last year, the company posted $0.23 earnings per share. Equities research analysts anticipate that Activision Blizzard will post $2.01 EPS for the current year.
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In other Activision Blizzard news, CEO Riccardo Zacconi sold 19,761 shares of the business’s stock in a transaction dated Wednesday, May 17th. The stock was sold at an average price of $55.45, for a total transaction of $1,095,747.45. Following the completion of the sale, the chief executive officer now directly owns 55,509 shares of the company’s stock, valued at approximately $3,077,974.05. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 2.12% of the company’s stock.
Hedge funds have recently made changes to their positions in the stock. First Manhattan Co. boosted its stake in shares of Activision Blizzard by 2.4% in the second quarter. First Manhattan Co. now owns 11,262 shares of the company’s stock worth $648,000 after buying an additional 263 shares during the period. Daiwa Securities Group Inc. boosted its stake in shares of Activision Blizzard by 95.4% in the second quarter. Daiwa Securities Group Inc. now owns 93,479 shares of the company’s stock worth $5,382,000 after buying an additional 45,629 shares during the period. Bessemer Group Inc. boosted its stake in shares of Activision Blizzard by 12.3% in the second quarter. Bessemer Group Inc. now owns 6,460 shares of the company’s stock worth $372,000 after buying an additional 710 shares during the period. Accuvest Global Advisors boosted its stake in shares of Activision Blizzard by 2.0% in the second quarter. Accuvest Global Advisors now owns 9,758 shares of the company’s stock worth $562,000 after buying an additional 194 shares during the period. Finally, CIBC Asset Management Inc boosted its stake in shares of Activision Blizzard by 3.6% in the second quarter. CIBC Asset Management Inc now owns 100,467 shares of the company’s stock worth $5,784,000 after buying an additional 3,452 shares during the period. 87.48% of the stock is owned by institutional investors.
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.
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