KeyCorp Weighs in on Activision Blizzard, Inc.’s Q3 2022 Earnings (NASDAQ:ATVI)

Activision Blizzard, Inc. (NASDAQ:ATVIGet Rating) – KeyCorp decreased their Q3 2022 earnings estimates for shares of Activision Blizzard in a research note issued to investors on Monday, August 1st. KeyCorp analyst T. Parker now forecasts that the company will post earnings of $0.44 per share for the quarter, down from their prior forecast of $0.50. The consensus estimate for Activision Blizzard’s current full-year earnings is $2.46 per share. KeyCorp also issued estimates for Activision Blizzard’s Q3 2023 earnings at $0.46 EPS.

Other equities research analysts also recently issued reports about the company. Jefferies Financial Group restated a “buy” rating and set a $95.00 price objective on shares of Activision Blizzard in a report on Wednesday, April 27th. Deutsche Bank Aktiengesellschaft cut their target price on shares of Activision Blizzard from $95.00 to $84.00 in a research note on Thursday. Finally, Moffett Nathanson raised shares of Activision Blizzard from a “neutral” rating to a “buy” rating and set a $95.00 target price for the company in a research report on Wednesday. Eighteen research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $94.73.

Activision Blizzard Trading Down 0.2 %

NASDAQ ATVI opened at $80.49 on Thursday. The firm has a 50 day moving average of $77.80 and a two-hundred day moving average of $78.88. Activision Blizzard has a 52 week low of $56.40 and a 52 week high of $86.90. The company has a quick ratio of 5.45, a current ratio of 6.18 and a debt-to-equity ratio of 0.20. The stock has a market capitalization of $62.97 billion, a PE ratio of 33.54, a price-to-earnings-growth ratio of 2.26 and a beta of 0.51.

Activision Blizzard (NASDAQ:ATVIGet Rating) last released its quarterly earnings data on Monday, August 1st. The company reported $0.47 earnings per share for the quarter, topping analysts’ consensus estimates of $0.38 by $0.09. Activision Blizzard had a net margin of 24.57% and a return on equity of 10.22%. The firm had revenue of $1.64 billion for the quarter, compared to analyst estimates of $1.57 billion. During the same quarter in the prior year, the business earned $0.86 earnings per share. The business’s quarterly revenue was down 14.6% compared to the same quarter last year.

Hedge Funds Weigh In On Activision Blizzard

Institutional investors and hedge funds have recently modified their holdings of the business. BlackRock Inc. lifted its stake in Activision Blizzard by 5.6% in the fourth quarter. BlackRock Inc. now owns 61,381,263 shares of the company’s stock valued at $4,083,695,000 after purchasing an additional 3,239,833 shares during the last quarter. Capital International Investors raised its position in Activision Blizzard by 57.2% during the 4th quarter. Capital International Investors now owns 39,139,403 shares of the company’s stock valued at $2,604,167,000 after purchasing an additional 14,244,622 shares in the last quarter. State Street Corp raised its position in shares of Activision Blizzard by 0.8% in the 4th quarter. State Street Corp now owns 36,618,053 shares of the company’s stock valued at $2,436,199,000 after purchasing an additional 295,205 shares during the last quarter. Capital World Investors grew its stake in Activision Blizzard by 23.8% in the 4th quarter. Capital World Investors now owns 31,818,816 shares of the company’s stock valued at $2,116,906,000 after acquiring an additional 6,120,230 shares during the period. Finally, Geode Capital Management LLC increased its holdings in Activision Blizzard by 9.3% in the 4th quarter. Geode Capital Management LLC now owns 15,484,291 shares of the company’s stock valued at $1,028,035,000 after purchasing an additional 1,319,227 shares during the last quarter. 83.11% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Activision Blizzard

In other Activision Blizzard news, CFO Armin Zerza sold 10,174 shares of the business’s stock in a transaction on Wednesday, August 3rd. The shares were sold at an average price of $80.22, for a total transaction of $816,158.28. Following the sale, the chief financial officer now directly owns 186,117 shares of the company’s stock, valued at approximately $14,930,305.74. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.77% of the stock is currently owned by corporate insiders.

Activision Blizzard Company Profile

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Activision Blizzard, Inc, together with its subsidiaries, develops and publishes interactive entertainment content and services in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company operates through three segments: Activision, Blizzard, and King. It develops and distributes content and services on video game consoles, personal computers, and mobile devices, including subscription, full-game, and in-game sales, as well as by licensing software to third-party or related-party companies that distribute Activision and Blizzard products.

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