Shares of Activision Blizzard, Inc. (NASDAQ:ATVI) have been given a consensus recommendation of “Buy” by the twenty-nine research firms that are currently covering the company, MarketBeat reports. One analyst has rated the stock with a sell rating, seven have issued a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $78.58.

Several research firms have weighed in on ATVI. BidaskClub lowered shares of Activision Blizzard from a “hold” rating to a “sell” rating in a report on Thursday. Zacks Investment Research lowered shares of Activision Blizzard from a “buy” rating to a “hold” rating in a report on Wednesday. Barclays cut their target price on shares of Activision Blizzard from $82.00 to $79.00 and set a “hold” rating on the stock in a report on Sunday, August 5th. Wedbush set a $85.00 target price on shares of Activision Blizzard and gave the stock a “buy” rating in a report on Friday, August 3rd. Finally, Needham & Company LLC increased their target price on shares of Activision Blizzard from $80.00 to $90.00 and gave the stock a “buy” rating in a report on Tuesday, July 31st.

NASDAQ ATVI traded up $0.11 during trading hours on Tuesday, hitting $70.61. The company’s stock had a trading volume of 4,608,728 shares, compared to its average volume of 6,112,773. Activision Blizzard has a twelve month low of $57.29 and a twelve month high of $81.64. The firm has a market capitalization of $53.75 billion, a P/E ratio of 34.44, a P/E/G ratio of 1.86 and a beta of 0.97. The company has a debt-to-equity ratio of 0.42, a current ratio of 2.98 and a quick ratio of 2.96.

Activision Blizzard (NASDAQ:ATVI) last announced its quarterly earnings data on Thursday, August 2nd. The company reported $0.41 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.30 by $0.11. Activision Blizzard had a net margin of 6.96% and a return on equity of 18.00%. The business had revenue of $1.39 billion for the quarter, compared to analyst estimates of $1.38 billion. During the same period in the prior year, the business posted $0.32 earnings per share. Activision Blizzard’s revenue was down 2.3% compared to the same quarter last year. sell-side analysts expect 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 firm’s stock in a transaction on Thursday, May 17th. The shares were sold at an average price of $70.49, for a total value of $1,392,952.89. Following the completion of the transaction, the chief executive officer now owns 27,361 shares of the company’s stock, valued at $1,928,676.89. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 1.29% of the stock is currently owned by company insiders.

Institutional investors have recently added to or reduced their stakes in the stock. Gateway Investment Advisers LLC bought a new stake in shares of Activision Blizzard during the 2nd quarter worth about $37,904,000. Norris Perne & French LLP MI raised its position in shares of Activision Blizzard by 38.4% in the 2nd quarter. Norris Perne & French LLP MI now owns 133,818 shares of the company’s stock valued at $10,213,000 after buying an additional 37,134 shares in the last quarter. Benjamin F. Edwards & Company Inc. raised its position in shares of Activision Blizzard by 16.3% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 4,524 shares of the company’s stock valued at $345,000 after buying an additional 634 shares in the last quarter. PNC Financial Services Group Inc. raised its position in shares of Activision Blizzard by 6.5% in the 1st quarter. PNC Financial Services Group Inc. now owns 97,301 shares of the company’s stock valued at $6,564,000 after buying an additional 5,951 shares in the last quarter. Finally, Monetta Financial Services Inc. acquired a new position in shares of Activision Blizzard in the 1st quarter valued at approximately $2,361,000. 85.94% of the stock is owned by institutional investors and hedge funds.

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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