Trade Report: Today, BMO Capital Markets Trims Activision Blizzard Inc. (ATVI) Target Price to $40.00

Today, BMO Capital Markets Trims Activision Blizzard Inc. (ATVI) Target Price to $40.00

Activision Blizzard Inc. (NASDAQ:ATVI) had its price objective trimmed by BMO Capital Markets from $42.00 to $40.00 in a report issued on Tuesday. The brokerage currently has a market perform rating on the stock.

Several other analysts have also recently weighed in on the company. Jefferies Group reissued a buy rating and set a $55.00 price target on shares of Activision Blizzard in a report on Monday, November 7th. Oppenheimer Holdings Inc. reissued an outperform rating and set a $53.00 price target on shares of Activision Blizzard in a report on Monday, November 7th. Benchmark Co. lifted their price target on Activision Blizzard from $49.79 to $50.87 and gave the stock a buy rating in a report on Monday, November 7th. Mizuho reissued a buy rating and set a $48.00 price target on shares of Activision Blizzard in a report on Monday, November 7th. Finally, Macquarie reaffirmed an outperform rating and issued a $46.00 price objective on shares of Activision Blizzard in a report on Friday, November 4th. Three equities research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company. Activision Blizzard has a consensus rating of Buy and a consensus price target of $46.75.

Activision Blizzard (NASDAQ:ATVI) opened at 37.26 on Tuesday. The firm has a market cap of $27.69 billion, a price-to-earnings ratio of 32.34 and a beta of 1.11. The stock’s 50 day moving average price is $42.00 and its 200 day moving average price is $40.94. Activision Blizzard has a 52 week low of $26.49 and a 52 week high of $45.55.

Activision Blizzard (NASDAQ:ATVI) last released its quarterly earnings results on Thursday, November 3rd. The company reported $0.49 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.42 by $0.07. The business earned $1.57 billion during the quarter, compared to analysts’ expectations of $6.54 billion. Activision Blizzard had a return on equity of 16.63% and a net margin of 13.81%. The firm’s revenue for the quarter was up 58.4% compared to the same quarter last year. During the same period last year, the firm posted $0.21 EPS. On average, equities research analysts predict that Activision Blizzard will post $2.06 EPS for the current year.

In related news, COO Thomas Tippl sold 75,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 14th. The stock was sold at an average price of $43.76, for a total transaction of $3,282,000.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Riccardo Zacconi sold 19,761 shares of the company’s stock in a transaction that occurred on Thursday, November 17th. The stock was sold at an average price of $40.09, for a total value of $792,218.49. Following the transaction, the chief executive officer now directly owns 69,583 shares in the company, valued at $2,789,582.47. The disclosure for this sale can be found here. 25.23% of the stock is owned by insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the company. ETRADE Capital Management LLC purchased a new position in Activision Blizzard during the third quarter worth $618,000. D.A. Davidson & CO. increased its position in Activision Blizzard by 17.1% in the third quarter. D.A. Davidson & CO. now owns 2,526 shares of the company’s stock worth $111,000 after buying an additional 369 shares during the period. Piedmont Investment Advisors LLC purchased a new position in Activision Blizzard during the third quarter worth $5,103,000. Cornerstone Capital Management Holdings LLC. increased its position in Activision Blizzard by 2.5% in the third quarter. Cornerstone Capital Management Holdings LLC. now owns 608,361 shares of the company’s stock worth $26,949,000 after buying an additional 14,612 shares during the period. Finally, Mosaic Family Wealth LLC increased its position in Activision Blizzard by 26.9% in the third quarter. Mosaic Family Wealth LLC now owns 6,613 shares of the company’s stock worth $293,000 after buying an additional 1,400 shares during the period. 83.39% of the stock is currently owned by institutional investors and hedge funds.

Activision Blizzard Company Profile

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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