Activision Blizzard (NASDAQ:ATVI) had its price objective reduced by Morgan Stanley from $80.00 to $72.00 in a research report sent to investors on Friday morning, The Fly reports. Morgan Stanley currently has a positive rating on the stock.

Several other analysts have also issued reports on the stock. Wedbush set a $81.00 target price on shares of Activision Blizzard and gave the company a buy rating in a research report on Friday. KeyCorp reiterated an overweight rating and issued a $80.00 target price (down previously from $85.00) on shares of Activision Blizzard in a research report on Friday. BidaskClub lowered shares of Activision Blizzard from a hold rating to a sell rating in a research report on Thursday. ValuEngine lowered shares of Activision Blizzard from a buy rating to a hold rating in a research report on Tuesday. Finally, Stifel Nicolaus lowered their price target on shares of Activision Blizzard from $82.00 to $78.00 and set a buy rating on the stock in a research report on Wednesday, October 31st. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the company. Activision Blizzard has a consensus rating of Buy and an average price target of $77.62.

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

Activision Blizzard (NASDAQ:ATVI) last announced its earnings results on Thursday, November 8th. The company reported $0.47 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ 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 company had revenue of $1.66 billion during the quarter, compared to analyst estimates of $1.66 billion. During the same quarter last year, the business earned $0.25 EPS. The firm’s revenue for the quarter was down 12.6% compared to the same quarter last year. Equities research analysts anticipate that Activision Blizzard will post 2.49 EPS for the current fiscal year.

In other Activision Blizzard news, CEO Riccardo Zacconi sold 19,761 shares of the business’s stock in a transaction dated 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 in the company, valued at approximately $1,396,258.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.29% of the company’s stock.

A number of large investors have recently bought and sold shares of ATVI. Xact Kapitalforvaltning AB boosted its holdings in Activision Blizzard by 3.8% in the 2nd quarter. Xact Kapitalforvaltning AB now owns 159,450 shares of the company’s stock valued at $12,169,000 after purchasing an additional 5,888 shares during the last quarter. Gofen & Glossberg LLC IL acquired a new position in Activision Blizzard in the 2nd quarter valued at about $905,000. First Citizens Bank & Trust Co. acquired a new position in Activision Blizzard in the 2nd quarter valued at about $1,700,000. Bremer Trust National Association acquired a new position in Activision Blizzard in the 2nd quarter valued at about $258,000. Finally, Peregrine Capital Management LLC boosted its holdings in Activision Blizzard by 0.3% in the 2nd quarter. Peregrine Capital Management LLC now owns 243,301 shares of the company’s stock valued at $18,569,000 after purchasing an additional 735 shares during the last quarter. Institutional investors own 86.92% of the company’s stock.

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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