Activision Blizzard (ATVI) Upgraded at Goldman Sachs Group
Goldman Sachs Group upgraded shares of Activision Blizzard (NASDAQ:ATVI) from a neutral rating to a buy rating in a research note issued to investors on Tuesday, Marketbeat.com reports.
Other analysts have also issued research reports about the company. BidaskClub raised Activision Blizzard from a hold rating to a buy rating in a report on Saturday, August 19th. Argus reissued a buy rating and issued a $70.00 target price (up previously from $65.00) on shares of Activision Blizzard in a report on Wednesday, August 16th. KeyCorp reissued a buy rating and issued a $74.00 target price on shares of Activision Blizzard in a report on Friday, September 8th. Buckingham Research initiated coverage on Activision Blizzard in a report on Wednesday, September 20th. They issued a buy rating and a $79.00 target price on the stock. Finally, Stifel Nicolaus reissued a buy rating on shares of Activision Blizzard in a report on Sunday, September 10th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Activision Blizzard currently has an average rating of Buy and a consensus price target of $68.71.
Shares of Activision Blizzard (NASDAQ ATVI) opened at $66.73 on Tuesday. The company has a debt-to-equity ratio of 0.44, a current ratio of 2.25 and a quick ratio of 2.22. The firm has a market capitalization of $49,169.15, a price-to-earnings ratio of 29.56, a price-to-earnings-growth ratio of 2.26 and a beta of 1.03. Activision Blizzard has a twelve month low of $35.86 and a twelve month high of $67.03.
In related news, CEO Riccardo Zacconi sold 19,761 shares of the stock in a transaction dated Friday, November 17th. The stock was sold at an average price of $63.64, for a total transaction of $1,257,590.04. Following the transaction, the chief executive officer now directly owns 41,435 shares in the company, valued at $2,636,923.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 2.12% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ATVI. Janus Henderson Group PLC lifted its position in Activision Blizzard by 820.8% during the second quarter. Janus Henderson Group PLC now owns 20,298,735 shares of the company’s stock worth $1,168,587,000 after buying an additional 18,094,334 shares during the period. Jennison Associates LLC lifted its position in Activision Blizzard by 82.6% during the second quarter. Jennison Associates LLC now owns 22,287,591 shares of the company’s stock worth $1,283,097,000 after buying an additional 10,083,717 shares during the period. Capital World Investors lifted its position in Activision Blizzard by 23.8% during the second quarter. Capital World Investors now owns 22,538,000 shares of the company’s stock worth $1,297,513,000 after buying an additional 4,327,000 shares during the period. Vanguard Group Inc. lifted its position in Activision Blizzard by 4.8% during the second quarter. Vanguard Group Inc. now owns 48,396,938 shares of the company’s stock worth $2,786,211,000 after buying an additional 2,200,995 shares during the period. Finally, Prudential Financial Inc. lifted its position in Activision Blizzard by 108.6% during the third quarter. Prudential Financial Inc. now owns 3,184,687 shares of the company’s stock worth $205,444,000 after buying an additional 1,657,730 shares during the period. Hedge funds and other institutional investors own 86.57% of the company’s stock.
About Activision Blizzard
Activision Blizzard, Inc is a developer and publisher of interactive entertainment content and services. The Company develops and distributes content and services across various gaming platforms, including video game consoles, personal computers (PC) and mobile devices. Its segments include Activision Publishing, Inc (Activision), Blizzard Entertainment, Inc (Blizzard), King Digital Entertainment (King) and Other.
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