Shares of Activision Blizzard, Inc. (NASDAQ:ATVI – Get Rating) have been assigned an average rating of “Moderate Buy” from the sixteen ratings firms that are presently covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the company. The average 1-year price target among analysts that have covered the stock in the last year is $91.85.
Several equities research analysts have recently issued reports on the company. Raymond James raised Activision Blizzard from a “market perform” rating to an “outperform” rating and set a $95.00 target price on the stock in a report on Thursday, November 10th. StockNews.com lowered Activision Blizzard from a “buy” rating to a “hold” rating in a report on Wednesday, January 18th. Edward Jones upgraded Activision Blizzard from a “hold” rating to a “buy” rating in a report on Tuesday, December 6th. Robert W. Baird upgraded Activision Blizzard from a “neutral” rating to an “outperform” rating and set a $95.00 target price for the company in a report on Tuesday, November 22nd. Finally, JPMorgan Chase & Co. lowered their target price on Activision Blizzard from $95.00 to $86.00 in a report on Monday, November 28th.
Institutional Investors Weigh In On Activision Blizzard
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. US Bancorp DE grew its position in Activision Blizzard by 1.5% during the 2nd quarter. US Bancorp DE now owns 73,157 shares of the company’s stock worth $5,695,000 after purchasing an additional 1,078 shares during the period. RFG Advisory LLC boosted its stake in shares of Activision Blizzard by 30.4% during the 2nd quarter. RFG Advisory LLC now owns 3,732 shares of the company’s stock worth $300,000 after acquiring an additional 871 shares in the last quarter. Assenagon Asset Management S.A. boosted its stake in shares of Activision Blizzard by 3,179.3% during the 3rd quarter. Assenagon Asset Management S.A. now owns 352,815 shares of the company’s stock worth $26,228,000 after acquiring an additional 342,056 shares in the last quarter. Wealthspire Advisors LLC boosted its stake in shares of Activision Blizzard by 3.4% during the 2nd quarter. Wealthspire Advisors LLC now owns 6,087 shares of the company’s stock worth $474,000 after acquiring an additional 199 shares in the last quarter. Finally, Legacy Financial Advisors Inc. boosted its stake in shares of Activision Blizzard by 5.8% during the 2nd quarter. Legacy Financial Advisors Inc. now owns 2,975 shares of the company’s stock worth $232,000 after acquiring an additional 163 shares in the last quarter. 79.34% of the stock is owned by institutional investors and hedge funds.
Activision Blizzard Price Performance
Activision Blizzard (NASDAQ:ATVI – Get Rating) last issued its earnings results on Monday, November 7th. The company reported $0.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.42 by $0.16. Activision Blizzard had a return on equity of 9.64% and a net margin of 22.75%. The firm had revenue of $1.83 billion for the quarter, compared to analysts’ expectations of $1.70 billion. As a group, analysts forecast that Activision Blizzard will post 2.61 EPS for the current fiscal year.
Activision Blizzard Company Profile
Activision Blizzard, Inc is a developer and publisher of interactive entertainment content and services. It operates through the following segments: Activision Publishing, Blizzard Entertainment, and King Digital Entertainment. The Activision Publishing segment delivers content through both premium and free-to-play offerings and generates revenue from full-game and in-game sales, as well as by licensing software to third-party or related-party companies that distribute Activision products.
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