BlackRock, Inc. (NYSE:BLK) Shares Purchased by AdvisorNet Financial Inc

AdvisorNet Financial Inc grew its stake in shares of BlackRock, Inc. (NYSE:BLK) by 32.8% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 498 shares of the asset manager’s stock after acquiring an additional 123 shares during the quarter. AdvisorNet Financial Inc’s holdings in BlackRock were worth $415,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of BLK. Tennessee Valley Asset Management Partners acquired a new position in shares of BlackRock during the 4th quarter valued at about $27,000. Private Wealth Management Group LLC acquired a new position in shares of BlackRock during the 4th quarter valued at about $28,000. Pineridge Advisors LLC acquired a new stake in BlackRock during the 4th quarter worth approximately $28,000. LFA Lugano Financial Advisors SA increased its position in BlackRock by 208.3% during the 4th quarter. LFA Lugano Financial Advisors SA now owns 37 shares of the asset manager’s stock worth $30,000 after purchasing an additional 25 shares in the last quarter. Finally, Wetzel Investment Advisors Inc. acquired a new stake in BlackRock during the 4th quarter worth approximately $32,000. Institutional investors and hedge funds own 80.69% of the company’s stock.

Insider Transactions at BlackRock

In other news, Director Mark Wiedman sold 9,000 shares of the stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $795.00, for a total transaction of $7,155,000.00. Following the transaction, the director now owns 6,480 shares of the company’s stock, valued at approximately $5,151,600. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other BlackRock news, CEO Laurence Fink sold 30,978 shares of the firm’s stock in a transaction that occurred on Monday, May 20th. The stock was sold at an average price of $807.29, for a total value of $25,008,229.62. Following the sale, the chief executive officer now owns 383,168 shares of the company’s stock, valued at approximately $309,327,694.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Mark Wiedman sold 9,000 shares of the firm’s stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $795.00, for a total value of $7,155,000.00. Following the completion of the sale, the director now directly owns 6,480 shares in the company, valued at approximately $5,151,600. The disclosure for this sale can be found here. Company insiders own 0.90% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on BLK shares. UBS Group increased their target price on shares of BlackRock from $818.00 to $850.00 and gave the stock a “neutral” rating in a research report on Friday, April 12th. Keefe, Bruyette & Woods reissued an “outperform” rating and set a $930.00 target price (up previously from $918.00) on shares of BlackRock in a research report on Friday, April 5th. Morgan Stanley increased their target price on shares of BlackRock from $1,013.00 to $1,025.00 and gave the stock an “overweight” rating in a research report on Monday, April 15th. Finally, JPMorgan Chase & Co. upped their price target on BlackRock from $742.00 to $767.00 and gave the stock a “neutral” rating in a report on Tuesday, April 2nd. Three analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, BlackRock currently has an average rating of “Moderate Buy” and a consensus target price of $845.42.

BlackRock Price Performance

Shares of BLK opened at $798.95 on Tuesday. The stock’s fifty day moving average is $776.33 and its 200-day moving average is $792.19. The firm has a market capitalization of $118.72 billion, a price-to-earnings ratio of 20.30, a price-to-earnings-growth ratio of 1.63 and a beta of 1.34. The company has a debt-to-equity ratio of 0.35, a quick ratio of 5.32 and a current ratio of 5.32. BlackRock, Inc. has a one year low of $596.18 and a one year high of $845.00.

BlackRock (NYSE:BLK) last announced its quarterly earnings data on Friday, April 12th. The asset manager reported $9.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $9.42 by $0.39. The firm had revenue of $4.73 billion during the quarter, compared to the consensus estimate of $4.65 billion. BlackRock had a return on equity of 15.24% and a net margin of 32.26%. The business’s revenue for the quarter was up 11.4% on a year-over-year basis. During the same period in the prior year, the business earned $7.93 EPS. Equities analysts anticipate that BlackRock, Inc. will post 41.25 EPS for the current year.

BlackRock Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 24th. Stockholders of record on Friday, June 7th were paid a dividend of $5.10 per share. This represents a $20.40 dividend on an annualized basis and a dividend yield of 2.55%. The ex-dividend date of this dividend was Friday, June 7th. BlackRock’s dividend payout ratio (DPR) is presently 51.84%.

BlackRock Company Profile

BlackRock, Inc is a publicly owned investment manager. The firm primarily provides its services to institutional, intermediary, and individual investors including corporate, public, union, and industry pension plans, insurance companies, third-party mutual funds, endowments, public institutions, governments, foundations, charities, sovereign wealth funds, corporations, official institutions, and banks.