Activision Blizzard Inc. (NASDAQ:ATVI)‘s stock had its “hold” rating reissued by research analysts at Bank of America Corp. in a research report issued on Tuesday. They currently have a $44.00 target price on the stock. Bank of America Corp.‘s price target points to a potential upside of 2.80% from the stock’s previous close.
In other Activision Blizzard news, CFO Dennis M. Durkin sold 119,937 shares of the company’s stock in a transaction dated Tuesday, August 30th. The shares were sold at an average price of $41.33, for a total transaction of $4,956,996.21. Following the sale, the chief financial officer now directly owns 431,425 shares of the company’s stock, valued at $17,830,795.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Michael Morhaime sold 163,400 shares of the company’s stock in a transaction dated Monday, June 13th. The stock was sold at an average price of $37.77, for a total transaction of $6,171,618.00. Following the sale, the chief executive officer now directly owns 370,065 shares in the company, valued at $13,977,355.05. The disclosure for this sale can be found here.
Activision Blizzard (NASDAQ:ATVI) traded up 0.26% during trading on Tuesday, reaching $42.91. The company had a trading volume of 5,347,199 shares. The stock has a market cap of $31.82 billion and a P/E ratio of 43.21. The firm has a 50-day moving average price of $40.99 and a 200 day moving average price of $36.97. Activision Blizzard has a 12-month low of $26.49 and a 12-month high of $43.54.
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Activision Blizzard (NASDAQ:ATVI) last posted its quarterly earnings results on Thursday, August 4th. The company reported $0.45 EPS for the quarter, beating the consensus estimate of $0.42 by $0.03. The company had revenue of $1.57 billion for the quarter, compared to analysts’ expectations of $1.44 billion. The company’s revenue was up 112.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.13 earnings per share. Equities research analysts predict that Activision Blizzard will post $1.97 EPS for the current fiscal year.
ATVI has been the topic of several other reports. Macquarie restated an “outperform” rating and set a $40.00 price target (up from $36.00) on shares of Activision Blizzard in a report on Thursday, May 26th. BMO Capital Markets reiterated a “market perform” rating and issued a $38.00 price objective on shares of Activision Blizzard in a report on Wednesday, August 10th. Piper Jaffray Cos. upped their price objective on shares of Activision Blizzard from $42.00 to $46.00 and gave the stock an “overweight” rating in a report on Friday, August 5th. Cowen and Company reiterated a “buy” rating on shares of Activision Blizzard in a report on Saturday, June 4th. Finally, Benchmark Co. reiterated a “buy” rating on shares of Activision Blizzard in a report on Wednesday, August 10th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and seventeen have given a buy rating to the company. Activision Blizzard presently has an average rating of “Buy” and a consensus target price of $43.36.
A number of hedge funds have recently modified their holdings of ATVI. BlackRock Institutional Trust Company N.A. boosted its stake in shares of Activision Blizzard by 3.0% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 13,629,022 shares of the company’s stock valued at $461,206,000 after buying an additional 396,519 shares in the last quarter. Investec Asset Management LTD boosted its stake in shares of Activision Blizzard by 3.6% in the first quarter. Investec Asset Management LTD now owns 9,168,349 shares of the company’s stock valued at $310,257,000 after buying an additional 314,842 shares in the last quarter. Standard Life Investments LTD boosted its stake in shares of Activision Blizzard by 2.8% in the second quarter. Standard Life Investments LTD now owns 6,733,500 shares of the company’s stock valued at $266,950,000 after buying an additional 186,318 shares in the last quarter. Norges Bank purchased a new stake in shares of Activision Blizzard during the fourth quarter valued at $202,883,000. Finally, Geode Capital Management LLC boosted its stake in shares of Activision Blizzard by 2.8% in the first quarter. Geode Capital Management LLC now owns 4,426,690 shares of the company’s stock valued at $149,517,000 after buying an additional 120,880 shares in the last quarter.
Activision Blizzard, Inc is a developer and publisher of online, personal computer (PC), video game console, handheld, mobile and tablet games. The Company operates through Activision Publishing, Inc (Activision) and its subsidiaries, Blizzard Entertainment, Inc (Blizzard) and its subsidiaries, and Other segments.
To view Bank of America Corp.’s full report, visit Bank of America Corp.’s official website.
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