Activision Blizzard (NASDAQ:ATVI) Upgraded to Buy at StockNews.com

StockNews.com upgraded shares of Activision Blizzard (NASDAQ:ATVIGet Rating) from a hold rating to a buy rating in a research report sent to investors on Tuesday morning.

Other equities research analysts also recently issued reports about the stock. Morgan Stanley raised shares of Activision Blizzard from an equal weight rating to an overweight rating and set a $95.00 price objective for the company in a research report on Monday, November 28th. TheStreet lowered shares of Activision Blizzard from a b rating to a c+ rating in a report on Wednesday, September 21st. Deutsche Bank Aktiengesellschaft reduced their target price on shares of Activision Blizzard from $84.00 to $83.00 in a report on Wednesday, November 16th. Edward Jones raised shares of Activision Blizzard from a hold rating to a buy rating in a report on Tuesday, December 6th. Finally, Benchmark reissued a buy rating and set a $100.00 price target on shares of Activision Blizzard in a research report on Friday, December 9th. Four investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and an average target price of $93.11.

Activision Blizzard Stock Performance

Shares of NASDAQ:ATVI opened at $77.69 on Tuesday. The company’s 50 day simple moving average is $75.25 and its 200 day simple moving average is $76.40. The stock has a market capitalization of $60.80 billion, a price-to-earnings ratio of 36.47, a price-to-earnings-growth ratio of 2.35 and a beta of 0.47. The company has a debt-to-equity ratio of 0.19, a current ratio of 5.76 and a quick ratio of 5.76. Activision Blizzard has a 1 year low of $62.93 and a 1 year high of $86.90.

Activision Blizzard (NASDAQ:ATVIGet Rating) last issued its quarterly earnings results on Monday, November 7th. The company reported $0.58 EPS for the quarter, topping analysts’ consensus estimates of $0.42 by $0.16. The company had revenue of $1.83 billion for the quarter, compared to analyst estimates of $1.70 billion. Activision Blizzard had a net margin of 22.75% and a return on equity of 9.64%. As a group, research analysts predict that Activision Blizzard will post 2.61 EPS for the current fiscal year.

Institutional Trading of Activision Blizzard

A number of institutional investors and hedge funds have recently bought and sold shares of ATVI. Fairfield Bush & CO. bought a new stake in Activision Blizzard during the 1st quarter valued at about $41,000. American Century Companies Inc. increased its stake in Activision Blizzard by 3.3% during the 1st quarter. American Century Companies Inc. now owns 21,919 shares of the company’s stock valued at $1,756,000 after purchasing an additional 702 shares in the last quarter. Sei Investments Co. increased its stake in Activision Blizzard by 8.9% during the 1st quarter. Sei Investments Co. now owns 61,175 shares of the company’s stock valued at $4,877,000 after purchasing an additional 5,014 shares in the last quarter. Sequoia Financial Advisors LLC increased its stake in Activision Blizzard by 62.7% during the 1st quarter. Sequoia Financial Advisors LLC now owns 5,038 shares of the company’s stock valued at $404,000 after purchasing an additional 1,942 shares in the last quarter. Finally, Baird Financial Group Inc. increased its stake in Activision Blizzard by 58.9% during the 1st quarter. Baird Financial Group Inc. now owns 122,289 shares of the company’s stock valued at $9,797,000 after purchasing an additional 45,326 shares in the last quarter. 79.34% of the stock is currently owned by institutional investors.

About Activision Blizzard

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Activision Blizzard, Inc, together with its subsidiaries, develops and publishes interactive entertainment content and services in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company operates through three segments: Activision, Blizzard, and King. It develops and distributes content and services on video game consoles, personal computers, and mobile devices, including subscription, full-game, and in-game sales, as well as by licensing software to third-party or related-party companies that distribute Activision and Blizzard products.

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Analyst Recommendations for Activision Blizzard (NASDAQ:ATVI)

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