Activision Blizzard Inc. (ATVI) Reaches New 12-Month High at $40.77
Activision Blizzard Inc. (NASDAQ:ATVI)’s share price hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $40.77 and last traded at $40.23, with a volume of 3,249,938 shares changing hands. The stock had previously closed at $40.51.
ATVI has been the topic of several recent research reports. Vetr upgraded Activision Blizzard from a “buy” rating to a “strong-buy” rating and set a $36.74 price target on the stock in a research report on Monday, March 28th. Wedbush restated an “outperform” rating and issued a $43.00 price target on shares of Activision Blizzard in a research report on Wednesday. Pacific Crest initiated coverage on Activision Blizzard in a research report on Friday, May 27th. They issued an “overweight” rating and a $43.00 price target on the stock. Sterne Agee CRT restated a “buy” rating on shares of Activision Blizzard in a research report on Sunday, May 8th. Finally, Barclays PLC boosted their price target on Activision Blizzard from $35.00 to $38.00 and gave the company an “overweight” rating in a research report on Friday, May 6th. Four equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $40.57.
The stock has a market capitalization of $29.77 billion and a price-to-earnings ratio of 36.20. The company has a 50 day moving average price of $38.44 and a 200-day moving average price of $35.17.
Activision Blizzard (NASDAQ:ATVI) last posted its quarterly earnings results on Thursday, May 5th. The company reported $0.23 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.12 by $0.11. During the same quarter last year, the firm posted $0.16 EPS. The business earned $908 million during the quarter, compared to analyst estimates of $812.14 million. The company’s quarterly revenue was up 29.2% compared to the same quarter last year. Analysts predict that Activision Blizzard Inc. will post $1.86 earnings per share for the current year.
In other Activision Blizzard news, CEO Michael Morhaime sold 1,150,000 shares of Activision Blizzard stock in a transaction that occurred on Tuesday, June 14th. The shares were sold at an average price of $38.15, for a total value of $43,872,500.00. Following the transaction, the chief executive officer now owns 370,065 shares in the company, valued at $14,117,979.75. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, COO Thomas Tippl sold 300,000 shares of Activision Blizzard stock in a transaction that occurred on Monday, May 16th. The stock was sold at an average price of $39.08, for a total transaction of $11,724,000.00. The disclosure for this sale can be found here.
A number of institutional investors have recently bought and sold shares of the company. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its position in Activision Blizzard by 2.0% in the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 32,963 shares of the company’s stock worth $1,276,000 after buying an additional 644 shares in the last quarter. Tredje AP fonden raised its position in Activision Blizzard by 2.0% in the fourth quarter. Tredje AP fonden now owns 34,513 shares of the company’s stock worth $1,336,000 after buying an additional 672 shares in the last quarter. Suntrust Banks Inc. purchased a new position in Activision Blizzard during the fourth quarter worth approximately $1,516,000. Bank of Hawaii raised its position in Activision Blizzard by 168.2% in the fourth quarter. Bank of Hawaii now owns 41,350 shares of the company’s stock worth $1,601,000 after buying an additional 25,935 shares in the last quarter. Finally, Cambridge Investment Research Advisors Inc. raised its position in Activision Blizzard by 26.1% in the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 48,619 shares of the company’s stock worth $1,882,000 after buying an additional 10,059 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.
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