Activision Blizzard, Inc. (NASDAQ:ATVI – Get Rating) – Stock analysts at Wedbush reduced their Q2 2023 EPS estimates for shares of Activision Blizzard in a research note issued to investors on Monday, May 15th. Wedbush analyst N. Mckay now forecasts that the company will post earnings of $0.75 per share for the quarter, down from their previous forecast of $0.88. Wedbush has a “Outperform” rating and a $95.00 price objective on the stock. The consensus estimate for Activision Blizzard’s current full-year earnings is $3.53 per share. Wedbush also issued estimates for Activision Blizzard’s Q3 2023 earnings at $0.86 EPS.
Several other research analysts have also recently weighed in on ATVI. BMO Capital Markets boosted their price target on shares of Activision Blizzard from $95.00 to $100.00 in a research report on Thursday, April 27th. Benchmark restated a “buy” rating and issued a $90.00 price objective on shares of Activision Blizzard in a report on Friday, March 10th. Robert W. Baird cut their price target on shares of Activision Blizzard from $95.00 to $90.00 in a research note on Thursday, April 27th. Citigroup boosted their price target on shares of Activision Blizzard from $88.00 to $91.00 and gave the stock a “buy” rating in a research note on Sunday, March 26th. Finally, Stifel Nicolaus cut their price target on shares of Activision Blizzard from $95.00 to $88.00 in a research note on Tuesday, May 2nd. Sixteen equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $91.53.
Activision Blizzard Trading Up 0.1 %
Insider Activity at Activision Blizzard
In related news, COO Daniel Alegre sold 8,847 shares of the company’s stock in a transaction that occurred on Monday, March 13th. The stock was sold at an average price of $78.50, for a total value of $694,489.50. Following the completion of the transaction, the chief operating officer now directly owns 156,170 shares of the company’s stock, valued at $12,259,345. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Peter J. Nolan acquired 13,160 shares of the firm’s stock in a transaction dated Wednesday, May 3rd. The stock was acquired at an average cost of $75.99 per share, with a total value of $1,000,028.40. Following the completion of the acquisition, the director now owns 174,777 shares of the company’s stock, valued at $13,281,304.23. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Also, COO Daniel Alegre sold 8,847 shares of the stock in a transaction that occurred on Monday, March 13th. The shares were sold at an average price of $78.50, for a total value of $694,489.50. Following the completion of the sale, the chief operating officer now directly owns 156,170 shares of the company’s stock, valued at $12,259,345. The disclosure for this sale can be found here. 1.10% of the stock is currently owned by corporate insiders.
Institutional Investors Weigh In On Activision Blizzard
Several large investors have recently modified their holdings of ATVI. Migdal Insurance & Financial Holdings Ltd. boosted its holdings in shares of Activision Blizzard by 186.4% in the first quarter. Migdal Insurance & Financial Holdings Ltd. now owns 338 shares of the company’s stock valued at $29,000 after acquiring an additional 220 shares during the period. Pin Oak Investment Advisors Inc. acquired a new stake in shares of Activision Blizzard during the first quarter worth $35,000. Ameritas Advisory Services LLC acquired a new stake in shares of Activision Blizzard during the first quarter worth $38,000. ICA Group Wealth Management LLC acquired a new stake in shares of Activision Blizzard during the fourth quarter worth $40,000. Finally, Fairfield Bush & CO. acquired a new stake in shares of Activision Blizzard during the first quarter worth $41,000. 79.34% of the stock is owned by institutional investors and hedge funds.
About Activision Blizzard
Activision Blizzard, Inc engages in the development and publication of entertainment content and services. It operates through the following segments: Activision Publishing Inc, Blizzard Entertainment Inc, and King Digital Entertainment. The Activision Publishing Inc segment delivers content through both premium and free-to-play offerings, as well as by licensing software to third-party or related-party companies that distribute Activision products.
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