Activision Blizzard (ATVI) PT Lowered to $79.00

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Activision Blizzard (NASDAQ:ATVI) had its price target trimmed by Credit Suisse Group from $85.00 to $79.00 in a research note published on Friday morning, MarketBeat reports. The brokerage currently has an outperform rating on the stock.

A number of other equities research analysts have also commented on ATVI. KeyCorp reaffirmed an overweight rating and issued a $80.00 price objective (down from $85.00) on shares of Activision Blizzard in a research note on Friday. Morgan Stanley reduced their price objective on shares of Activision Blizzard from $80.00 to $72.00 and set a positive rating on the stock in a research note on Friday. BidaskClub lowered shares of Activision Blizzard from a strong-buy rating to a buy rating in a research note on Wednesday, July 25th. ValuEngine lowered shares of Activision Blizzard from a buy rating to a hold rating in a research note on Tuesday. Finally, Wedbush set a $81.00 target price on shares of Activision Blizzard and gave the stock a buy rating in a research note on Friday. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Activision Blizzard has a consensus rating of Buy and a consensus price target of $77.62.

Shares of NASDAQ:ATVI traded down $7.78 during trading on Friday, reaching $55.01. The stock had a trading volume of 34,539,389 shares, compared to its average volume of 9,550,354. The company has a debt-to-equity ratio of 0.42, a quick ratio of 2.96 and a current ratio of 2.98. Activision Blizzard has a 52 week low of $53.50 and a 52 week high of $84.68. The firm has a market cap of $49.63 billion, a P/E ratio of 26.83, a P/E/G ratio of 1.73 and a beta of 1.11.

Activision Blizzard (NASDAQ:ATVI) last posted its quarterly earnings data on Thursday, November 8th. The company reported $0.47 EPS for the quarter, missing the Zacks’ consensus estimate of $0.50 by ($0.03). Activision Blizzard had a net margin of 6.96% and a return on equity of 16.39%. The firm had revenue of $1.66 billion during the quarter, compared to the consensus estimate of $1.66 billion. During the same period in the prior year, the company posted $0.25 earnings per share. The company’s revenue for the quarter was down 12.6% compared to the same quarter last year. As a group, sell-side analysts anticipate that Activision Blizzard will post 2.49 earnings per share for the current year.

In other Activision Blizzard news, CEO Riccardo Zacconi sold 19,761 shares of the firm’s stock in a transaction on Monday, August 20th. The shares were sold at an average price of $68.70, for a total value of $1,357,580.70. Following the transaction, the chief executive officer now directly owns 20,324 shares of the company’s stock, valued at $1,396,258.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 1.29% of the stock is currently owned by company insiders.

Institutional investors have recently added to or reduced their stakes in the business. Altman Advisors Inc. bought a new position in shares of Activision Blizzard in the second quarter valued at $323,000. Asset Advisors Investment Management LLC bought a new position in shares of Activision Blizzard in the third quarter valued at $100,000. Ashburton Jersey Ltd bought a new position in shares of Activision Blizzard in the second quarter valued at $107,000. Quad Cities Investment Group LLC bought a new position in shares of Activision Blizzard in the second quarter valued at $114,000. Finally, NuWave Investment Management LLC bought a new position in shares of Activision Blizzard in the second quarter valued at $121,000. 86.92% of the stock is currently owned by hedge funds and other institutional investors.

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.

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Analyst Recommendations for Activision Blizzard (NASDAQ:ATVI)

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