Activision Blizzard (NASDAQ:ATVI) had its price objective reduced by Bank of America from $77.00 to $68.00 in a research note issued to investors on Friday morning, MarketBeat Ratings reports. They currently have a neutral rating on the stock.

A number of other analysts have also issued reports on ATVI. BidaskClub lowered Activision Blizzard from a strong-buy rating to a buy rating in a research report on Wednesday, July 25th. Piper Jaffray Companies lifted their target price on Activision Blizzard to $84.00 and gave the stock an overweight rating in a research report on Wednesday, July 25th. Wedbush set a $81.00 target price on Activision Blizzard and gave the stock a buy rating in a research report on Thursday, July 26th. Needham & Company LLC boosted their price objective on Activision Blizzard from $80.00 to $90.00 and gave the company a buy rating in a report on Tuesday, July 31st. Finally, Barclays lowered their price objective on Activision Blizzard from $82.00 to $79.00 and set a hold rating for the company in a report on Sunday, August 5th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the company. Activision Blizzard currently has a consensus rating of Buy and a consensus price target of $77.62.

Shares of NASDAQ ATVI traded down $7.78 during midday trading on Friday, reaching $55.01. 34,539,389 shares of the company’s stock were exchanged, compared to its average volume of 9,550,354. Activision Blizzard has a 52-week low of $53.50 and a 52-week high of $84.68. The firm has a market cap of $49.63 billion, a price-to-earnings ratio of 26.83, a PEG ratio of 1.73 and a beta of 1.11. The company has a debt-to-equity ratio of 0.42, a quick ratio of 2.96 and a current ratio of 2.98.

Activision Blizzard (NASDAQ:ATVI) last announced its earnings results on Thursday, November 8th. The company reported $0.47 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.50 by ($0.03). Activision Blizzard had a return on equity of 16.39% and a net margin of 6.96%. The business had revenue of $1.66 billion for the quarter, compared to analysts’ expectations of $1.66 billion. During the same period in the previous year, the firm posted $0.25 earnings per share. The firm’s revenue was down 12.6% compared to the same quarter last year. As a group, research analysts predict that Activision Blizzard will post 2.49 EPS for the current year.

In other Activision Blizzard news, CEO Riccardo Zacconi sold 19,761 shares of Activision Blizzard stock in a transaction that occurred on Monday, August 20th. The stock was sold at an average price of $68.70, for a total value of $1,357,580.70. Following the completion of the transaction, the chief executive officer now directly owns 20,324 shares in the company, valued at $1,396,258.80. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 1.29% of the company’s stock.

A number of hedge funds have recently modified their holdings of the business. Benjamin F. Edwards & Company Inc. boosted its stake in Activision Blizzard by 16.3% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 4,524 shares of the company’s stock valued at $345,000 after acquiring an additional 634 shares during the period. Wetherby Asset Management Inc. boosted its stake in Activision Blizzard by 7.8% in the second quarter. Wetherby Asset Management Inc. now owns 9,385 shares of the company’s stock valued at $716,000 after acquiring an additional 680 shares during the period. Mission Wealth Management LP boosted its stake in Activision Blizzard by 13.5% in the second quarter. Mission Wealth Management LP now owns 6,174 shares of the company’s stock valued at $471,000 after acquiring an additional 732 shares during the period. Peregrine Capital Management LLC boosted its stake in Activision Blizzard by 0.3% in the second quarter. Peregrine Capital Management LLC now owns 243,301 shares of the company’s stock valued at $18,569,000 after acquiring an additional 735 shares during the period. Finally, Mitsubishi UFJ Securities Holdings Co. Ltd. boosted its stake in Activision Blizzard by 13.8% in the second quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. now owns 6,420 shares of the company’s stock valued at $490,000 after acquiring an additional 780 shares during the period. Institutional investors own 86.92% of the company’s stock.

Activision Blizzard Company Profile

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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