Activision Blizzard Inc. (ATVI) PT Lowered to $40.00 at BMO Capital Markets
Activision Blizzard Inc. (NASDAQ:ATVI) had its target price decreased by BMO Capital Markets from $42.00 to $40.00 in a note issued to investors on Tuesday. The brokerage currently has a “market perform” rating on the stock. BMO Capital Markets’ target price points to a potential upside of 4.10% from the stock’s previous close.
ATVI has been the subject of several other research reports. Zacks Investment Research lowered shares of Activision Blizzard from a “buy” rating to a “hold” rating in a research report on Tuesday, September 20th. Piper Jaffray Cos. increased their price target on shares of Activision Blizzard from $42.00 to $46.00 and gave the stock an “overweight” rating in a research report on Friday, August 5th. Benchmark Co. reissued a “buy” rating on shares of Activision Blizzard in a research report on Wednesday, August 10th. Wedbush raised their price objective on shares of Activision Blizzard from $43.00 to $48.00 and gave the stock an “outperform” rating in a report on Friday, August 5th. Finally, Oppenheimer Holdings Inc. reaffirmed an “outperform” rating and set a $53.00 price objective on shares of Activision Blizzard in a report on Monday, November 7th. Three analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $46.75.
Shares of Activision Blizzard (NASDAQ:ATVI) traded down 3.7213% during mid-day trading on Tuesday, hitting $36.9999. The stock had a trading volume of 12,899,464 shares. Activision Blizzard has a one year low of $26.49 and a one year high of $45.55. The firm’s 50 day moving average price is $42.38 and its 200-day moving average price is $40.98. The company has a market cap of $27.50 billion, a PE ratio of 32.1180 and a beta of 1.11.
Activision Blizzard (NASDAQ:ATVI) last posted its quarterly earnings results on Thursday, November 3rd. The company reported $0.49 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.42 by $0.07. Activision Blizzard had a net margin of 13.81% and a return on equity of 16.63%. The firm earned $1.57 billion during the quarter, compared to analyst estimates of $6.54 billion. During the same quarter in the prior year, the business posted $0.21 earnings per share. The company’s quarterly revenue was up 58.4% compared to the same quarter last year. On average, equities research analysts anticipate that Activision Blizzard will post $2.06 earnings per share for the current fiscal year.
In other Activision Blizzard news, CFO Dennis M. Durkin sold 119,937 shares of Activision Blizzard stock in a transaction that occurred on Tuesday, August 30th. The shares were sold at an average price of $41.33, for a total transaction of $4,956,996.21. Following the completion of the sale, the chief financial officer now directly owns 431,425 shares in the company, valued at $17,830,795.25. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Christopher B. Walther sold 45,574 shares of Activision Blizzard stock in a transaction that occurred on Friday, September 2nd. The shares were sold at an average price of $42.73, for a total transaction of $1,947,377.02. The disclosure for this sale can be found here. Company insiders own 25.23% of the company’s stock.
Large investors have recently made changes to their positions in the stock. D.A. Davidson & CO. raised its stake in shares of Activision Blizzard by 17.1% in the third quarter. D.A. Davidson & CO. now owns 2,526 shares of the company’s stock valued at $111,000 after buying an additional 369 shares during the last quarter. Physicians Financial Services Inc. raised its stake in shares of Activision Blizzard by 21.7% in the third quarter. Physicians Financial Services Inc. now owns 2,808 shares of the company’s stock valued at $124,000 after buying an additional 500 shares during the last quarter. Advisory Services Network LLC increased its position in Activision Blizzard by 24.0% in the third quarter. Advisory Services Network LLC now owns 3,669 shares of the company’s stock valued at $163,000 after buying an additional 711 shares during the period. Synovus Financial Corp acquired a new position in Activision Blizzard during the third quarter valued at approximately $163,000. Finally, Bessemer Group Inc. increased its position in Activision Blizzard by 103.0% in the second quarter. Bessemer Group Inc. now owns 5,062 shares of the company’s stock valued at $201,000 after buying an additional 2,568 shares during the period. Institutional investors and hedge funds own 83.39% of the company’s stock.
About Activision Blizzard
Activision Blizzard, Inc is a developer and publisher of online, personal computer (PC), video game console, handheld, mobile and tablet games. The Company operates through Activision Publishing, Inc (Activision) and its subsidiaries, Blizzard Entertainment, Inc (Blizzard) and its subsidiaries, and Other segments.
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