Brokerages Set Activision Blizzard, Inc. (ATVI) Target Price at $61.92

Activision Blizzard, Inc. (NASDAQ:ATVI) has earned an average rating of “Buy” from the thirty-two brokerages that are covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, eleven have given a hold recommendation and nineteen have assigned a buy recommendation to the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $61.92.

A number of analysts have recently weighed in on the stock. Zacks Investment Research lowered shares of Activision Blizzard from a “hold” rating to a “sell” rating in a research note on Thursday, January 3rd. ValuEngine lowered shares of Activision Blizzard from a “hold” rating to a “sell” rating in a research note on Monday, April 1st. Wedbush reiterated an “outperform” rating and issued a $60.00 price objective on shares of Activision Blizzard in a research note on Monday, April 1st. Robert W. Baird cut their price objective on shares of Activision Blizzard from $69.00 to $58.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 13th. Finally, BidaskClub upgraded shares of Activision Blizzard from a “sell” rating to a “hold” rating in a research note on Wednesday, March 20th.

NASDAQ:ATVI opened at $45.06 on Friday. The firm has a market capitalization of $34.95 billion, a PE ratio of 18.85, a price-to-earnings-growth ratio of 2.29 and a beta of 0.83. Activision Blizzard has a 1-year low of $39.85 and a 1-year high of $84.68. The company has a current ratio of 2.31, a quick ratio of 2.29 and a debt-to-equity ratio of 0.24.

Activision Blizzard (NASDAQ:ATVI) last released its quarterly earnings data on Tuesday, February 12th. The company reported $1.29 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.21 by $0.08. The firm had revenue of $2.84 billion for the quarter, compared to analyst estimates of $3.04 billion. Activision Blizzard had a net margin of 24.16% and a return on equity of 17.55%. The business’s quarterly revenue was up 7.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.94 earnings per share. Research analysts predict that Activision Blizzard will post 1.98 EPS for the current fiscal year.

The company also recently declared an annual dividend, which will be paid on Thursday, May 9th. Investors of record on Thursday, March 28th will be given a dividend of $0.37 per share. This represents a yield of 0.83%. The ex-dividend date of this dividend is Wednesday, March 27th. This is a positive change from Activision Blizzard’s previous annual dividend of $0.34. Activision Blizzard’s dividend payout ratio (DPR) is currently 15.48%.

In related news, Director Robert J. Morgado sold 15,000 shares of the firm’s stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $42.91, for a total transaction of $643,650.00. The transaction was disclosed in a document filed with the SEC, which is available at this link. 1.29% of the stock is currently owned by company insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. First National Bank of Hutchinson lifted its holdings in Activision Blizzard by 2.2% during the fourth quarter. First National Bank of Hutchinson now owns 10,979 shares of the company’s stock valued at $511,000 after purchasing an additional 240 shares in the last quarter. Meiji Yasuda Asset Management Co Ltd. lifted its holdings in Activision Blizzard by 1.2% during the fourth quarter. Meiji Yasuda Asset Management Co Ltd. now owns 22,179 shares of the company’s stock valued at $1,033,000 after purchasing an additional 260 shares in the last quarter. Cornerstone Advisors Inc. lifted its holdings in Activision Blizzard by 17.5% during the fourth quarter. Cornerstone Advisors Inc. now owns 1,775 shares of the company’s stock valued at $83,000 after purchasing an additional 265 shares in the last quarter. Kaizen Advisory LLC lifted its holdings in Activision Blizzard by 15.3% during the fourth quarter. Kaizen Advisory LLC now owns 2,163 shares of the company’s stock valued at $101,000 after purchasing an additional 287 shares in the last quarter. Finally, Louisiana State Employees Retirement System lifted its holdings in Activision Blizzard by 0.8% during the first quarter. Louisiana State Employees Retirement System now owns 40,300 shares of the company’s stock valued at $1,835,000 after purchasing an additional 300 shares in the last quarter. 89.05% of the stock is currently owned by institutional investors and hedge funds.

Activision Blizzard Company Profile

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.

Read More: How is a buy-side analyst different from a sell-side analyst?

Analyst Recommendations for Activision Blizzard (NASDAQ:ATVI)

Receive News & Ratings for Activision Blizzard Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Activision Blizzard and related companies with MarketBeat.com's FREE daily email newsletter.