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

Several other equities analysts have also recently commented on ATVI. KeyCorp restated an overweight rating and issued a $80.00 target price (down from $85.00) on shares of Activision Blizzard in a research report on Friday. Morgan Stanley dropped their target price on shares of Activision Blizzard from $80.00 to $72.00 and set a positive rating for the company in a research report on Friday. BidaskClub cut shares of Activision Blizzard from a strong-buy rating to a buy rating in a research report on Wednesday, July 25th. ValuEngine cut shares of Activision Blizzard from a buy rating to a hold rating in a research report on Tuesday. Finally, 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. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the company. The company presently has an average rating of Buy and a consensus price target of $77.62.

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

Activision Blizzard (NASDAQ:ATVI) last issued its earnings results on Thursday, November 8th. The company reported $0.47 EPS for the quarter, missing the consensus estimate of $0.50 by ($0.03). The firm had revenue of $1.66 billion during the quarter, compared to analyst estimates of $1.66 billion. Activision Blizzard had a net margin of 6.96% and a return on equity of 16.39%. Activision Blizzard’s quarterly revenue was down 12.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.25 earnings per share. On average, research analysts predict that Activision Blizzard will post 2.49 EPS for the current fiscal year.

In related news, CEO Riccardo Zacconi sold 19,761 shares of the company’s stock in a transaction that occurred on Monday, August 20th. The shares were sold at an average price of $68.70, for a total transaction of $1,357,580.70. Following the completion of 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 filing with the SEC, which is available through the SEC website. 1.29% of the stock is owned by corporate insiders.

A number of hedge funds have recently added to or reduced their stakes in the stock. Xact Kapitalforvaltning AB increased its position 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 acquiring an additional 5,888 shares during the period. Gofen & Glossberg LLC IL acquired a new position in Activision Blizzard in the 2nd quarter valued at approximately $905,000. First Citizens Bank & Trust Co. acquired a new position in Activision Blizzard in the 2nd quarter valued at approximately $1,700,000. Bremer Trust National Association acquired a new position in Activision Blizzard in the 2nd quarter valued at approximately $258,000. Finally, Peregrine Capital Management LLC increased its position 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 acquiring an additional 735 shares during the period. Institutional investors and hedge funds own 86.92% of the company’s stock.

About Activision Blizzard

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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