The Vanguard Group, Inc. recently announced the acquisition of new stake in Activision Blizzard Inc. (NASDAQ:ATVI). The institutional investor has increased its shareholding in the Communication Services company by 0.18% to 56.82 million shares with purchase of 0.1 million shares. This fresh investment now brings its stake to 7.38% valued currently at $4.7 billion. In addition, BlackRock Fund Advisors raised its holdings by 0.76 million to 36.86 million shares. And SSgA Funds Management, Inc. has lifted its position by 2.56% or 0.85 million shares – to 34.14 million shares.
With over 5.92 million Activision Blizzard Inc. (ATVI) shares trading Tuesday and a closing price of $83.33 on the day, the dollar volume was approximately $493.7 million. The shares have shown a negative weekly performance of -0.35% and its price on 09/01/20 lost nearly -0.23%. Currently, there are 771.00M common shares owned by the public and among those 762.41M shares have been available to trade.
An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 30 analysts who have offered their price forecasts for ATVI have a consensus price objective of $96.02. The analysts have set the share’s price value over the next 12 months at a high of $116.60 and a low of $76.00 should the stock experience a downside. Incidentally, analysts’ outlook for the Activision Blizzard Inc. stock is 1.90 for the next 12 months. The average price target is 11.96% above its last price level and an upside to the estimated low will see the stock lose -9.64% over that period. But an upside of 28.53% will see the stock hit the forecast high price target while mean target price for the stock is $97.00.
Insiders at the company have transacted a total of 41 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 25 of these insider trades were purchases, accounting for 780,833 shares. Insider sales of the common stock occurred on 16 occasions, with total insider shares sold totaling 713,560 shares.
The top 3 mutual fund holders in Activision Blizzard Inc. are American Funds Growth Fund of Ame, Vanguard Total Stock Market Index, and Vanguard 500 Index Fund. American Funds Growth Fund of Ame owns 25.5 million shares of the company’s stock, all valued at over $2.11 billion. The company sold -2.67 million shares recently to bring their total holdings to about 3.31% of the shares outstanding. Vanguard Total Stock Market Index sold 54627.0 shares to see its total holdings shrink to 21.9 million shares valued at over $1.81 billion and representing 2.84% of the shares outstanding. Vanguard 500 Index Fund sold 96024.0 shares to bring its total holdings to over 15.89 million shares at a value of $1.31 billion. Vanguard 500 Index Fund now owns shares totaling to 2.06% of the shares outstanding.
Shares of Activision Blizzard Inc. (NASDAQ: ATVI) opened at $83.8438, up $0.32 from a prior closing price of $83.52. However, the script later closed the day at $83.33, down -0.23%. The company’s stock has a 5-day price change of -0.35% and 19.18% over the past three months. ATVI shares are trading 40.24% year to date (YTD), with the 12-month market performance up to 63.20% higher. It has a 12-month low price of $50.25 and touched a high of $87.73 over the same period. Currently, 5.92 million shares have been traded, compared to an average intraday trading volume of 6.75 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 0.34%, 3.20%, and 24.60% respectively.
Institutional ownership of Activision Blizzard Inc. (NASDAQ: ATVI) shares accounts for 90.50% of the company’s 771.00M shares outstanding. Mutual fund holders own 55.54%, while other institutional holders and individual stakeholders account for 90.70% and 33.88% respectively.
It has a market capitalization of $64.85B and a beta (3y monthly) value of 0.68. The stock’s trailing 12-month PE ratio is 35.57, while the earnings-per-share (ttm) stands at $2.34. The company has a PEG of 1.46 and the debt-to-equity ratio at 0.20. Price movements for the stock have been influenced by the stock’s volatility, which stands at 2.05% over the week and 2.64% over the month.
Analysts forecast that Activision Blizzard Inc. (ATVI) will achieve an EPS of $0.64 for the current quarter, $1.05 for the next quarter and $3.32 for 2021. The lowest estimate earnings-per-share for the quarter is $0.6 while analysts give the company a high EPS estimate of $0.76. Comparatively, EPS for the current quarter was $0.32 a year ago. Earnings per share for the fiscal year are expected to decrease by -0.30%, and 2.09% over the next financial year. EPS should grow at an annualized rate of 24.41% over the next five years, compared to 11.60% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 30 brokerage firm advisors rate Activision Blizzard Inc. (ATVI) as a “Strong Buy” at a consensus score of 1.90. Specifically, 24 Wall Street analysts polled rate the stock as a buy, while 2 of the 30 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the ATVI, a number of firms have released research notes about the stock. Needham stated their Buy rating for the stock in a research note on July 02, 2020, with the firm’s price target at $75-$90. The Benchmark Company coverage for the Activision Blizzard Inc. (ATVI) stock in a research note released on June 29, 2020 offered a Buy rating with a price target of $85. Wells Fargo was of a view on April 07, 2020 that the stock is Overweight, while MKM Partners gave the stock Buy rating on April 02, 2020, issuing a price target of $72. Berenberg on their part issued Buy rating on March 25, 2020.