BidaskClub cut shares of Activision Blizzard, Inc (NASDAQ:ATVI) from a buy rating to a hold rating in a research note published on Tuesday.

Other research analysts also recently issued reports about the stock. Stifel Nicolaus restated a buy rating and issued a $59.00 price target (up from $53.00) on shares of Activision Blizzard in a research report on Tuesday, May 2nd. Benchmark Co. restated a buy rating and issued a $57.88 price target (up from $53.96) on shares of Activision Blizzard in a research report on Monday, May 1st. UBS AG restated a buy rating and issued a $60.00 price target (up from $57.00) on shares of Activision Blizzard in a research report on Friday, May 5th. Vetr upgraded shares of Activision Blizzard from a sell rating to a buy rating and set a $59.23 price target on the stock in a research report on Tuesday, May 2nd. Finally, Jefferies Group LLC restated a buy rating and issued a $55.00 price target on shares of Activision Blizzard in a research report on Tuesday, April 18th. One analyst has rated the stock with a sell rating, four have given a hold rating and twenty-two have issued a buy rating to the company’s stock. The company has an average rating of Buy and a consensus price target of $61.14.

Activision Blizzard (NASDAQ ATVI) traded up 0.46% on Tuesday, reaching $61.45. 4,285,663 shares of the company’s stock were exchanged. The firm has a market capitalization of $46.31 billion, a price-to-earnings ratio of 45.08 and a beta of 1.07. Activision Blizzard has a 1-year low of $35.12 and a 1-year high of $63.19. The stock’s 50 day moving average price is $59.54 and its 200 day moving average price is $51.48.

Activision Blizzard (NASDAQ:ATVI) last posted its quarterly earnings results on Thursday, May 4th. The company reported $0.27 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.16 by $0.11. Activision Blizzard had a net margin of 14.63% and a return on equity of 16.90%. The company had revenue of $1.20 billion for the quarter, compared to the consensus estimate of $1.09 billion. During the same period last year, the firm posted $0.23 EPS. The company’s revenue for the quarter was up 31.7% on a year-over-year basis. On average, analysts expect that Activision Blizzard will post $2.01 earnings per share for the current year.

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In other news, CEO Riccardo Zacconi sold 19,761 shares of Activision Blizzard stock in a transaction that occurred on Wednesday, May 17th. The shares were sold at an average price of $55.45, for a total value of $1,095,747.45. Following the transaction, the chief executive officer now owns 55,509 shares of the company’s stock, valued at approximately $3,077,974.05. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 2.12% of the company’s stock.

Several institutional investors have recently made changes to their positions in the company. Regentatlantic Capital LLC boosted its position in shares of Activision Blizzard by 11.0% in the first quarter. Regentatlantic Capital LLC now owns 8,068 shares of the company’s stock valued at $402,000 after buying an additional 800 shares in the last quarter. Bank of Montreal Can boosted its position in shares of Activision Blizzard by 5.6% in the first quarter. Bank of Montreal Can now owns 209,734 shares of the company’s stock valued at $10,456,000 after buying an additional 11,109 shares in the last quarter. National Pension Service boosted its position in shares of Activision Blizzard by 10.2% in the first quarter. National Pension Service now owns 507,197 shares of the company’s stock valued at $25,456,000 after buying an additional 46,874 shares in the last quarter. Quadrant Capital Group LLC boosted its position in shares of Activision Blizzard by 2.1% in the first quarter. Quadrant Capital Group LLC now owns 6,750 shares of the company’s stock valued at $327,000 after buying an additional 138 shares in the last quarter. Finally, Gulf International Bank UK Ltd boosted its position in shares of Activision Blizzard by 1.4% in the first quarter. Gulf International Bank UK Ltd now owns 183,044 shares of the company’s stock valued at $9,126,000 after buying an additional 2,600 shares in the last quarter. 87.48% of the stock is currently owned by institutional investors.

Activision Blizzard Company Profile

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.

Analyst Recommendations for Activision Blizzard (NASDAQ:ATVI)

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