Osher Van de Voorde Investment Management Cuts Stock Holdings in BlackRock, Inc. (NYSE:BLK)

Osher Van de Voorde Investment Management reduced its stake in BlackRock, Inc. (NYSE:BLK) by 1.0% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 25,111 shares of the asset manager’s stock after selling 243 shares during the period. BlackRock accounts for 5.2% of Osher Van de Voorde Investment Management’s holdings, making the stock its biggest holding. Osher Van de Voorde Investment Management’s holdings in BlackRock were worth $23,843,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of BLK. Redmont Wealth Advisors LLC purchased a new stake in BlackRock in the first quarter worth about $27,000. Pineridge Advisors LLC bought a new position in shares of BlackRock during the fourth quarter valued at approximately $28,000. Fairscale Capital LLC purchased a new position in BlackRock during the second quarter valued at approximately $31,000. Lam Group Inc. bought a new position in BlackRock in the first quarter worth approximately $33,000. Finally, Fairman Group LLC bought a new stake in BlackRock during the 4th quarter valued at $35,000. Institutional investors own 80.69% of the company’s stock.

BlackRock Trading Up 0.9 %

Shares of NYSE:BLK opened at $949.07 on Wednesday. The business’s 50 day moving average price is $893.10 and its 200-day moving average price is $828.30. BlackRock, Inc. has a 1 year low of $596.18 and a 1 year high of $960.74. The firm has a market capitalization of $141.03 billion, a price-to-earnings ratio of 24.12, a price-to-earnings-growth ratio of 2.05 and a beta of 1.30. The company has a debt-to-equity ratio of 0.37, a current ratio of 5.06 and a quick ratio of 5.06.

BlackRock (NYSE:BLK) last announced its earnings results on Monday, July 15th. The asset manager reported $10.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $9.96 by $0.40. The business had revenue of $4.81 billion for the quarter, compared to analyst estimates of $4.85 billion. BlackRock had a net margin of 32.36% and a return on equity of 15.44%. The company’s revenue for the quarter was up 7.7% compared to the same quarter last year. During the same quarter last year, the business earned $9.28 earnings per share. On average, equities research analysts forecast that BlackRock, Inc. will post 41.37 earnings per share for the current fiscal year.

BlackRock Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 23rd. Shareholders of record on Monday, September 9th were issued a $5.10 dividend. The ex-dividend date of this dividend was Monday, September 9th. This represents a $20.40 dividend on an annualized basis and a yield of 2.15%. BlackRock’s payout ratio is 51.84%.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on BLK shares. Wells Fargo & Company assumed coverage on BlackRock in a research note on Thursday, September 12th. They issued an “overweight” rating and a $1,000.00 target price on the stock. Barclays raised their price objective on BlackRock from $990.00 to $1,010.00 and gave the stock an “overweight” rating in a research report on Monday. StockNews.com began coverage on BlackRock in a research note on Friday, October 4th. They issued a “hold” rating for the company. Keefe, Bruyette & Woods increased their price objective on shares of BlackRock from $915.00 to $934.00 and gave the company an “outperform” rating in a research report on Tuesday, July 16th. Finally, UBS Group dropped their target price on shares of BlackRock from $842.00 to $837.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 10th. Three investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $943.93.

Insiders Place Their Bets

In other BlackRock news, Director Mark Wiedman sold 12,000 shares of the business’s stock in a transaction on Friday, August 30th. The stock was sold at an average price of $900.00, for a total transaction of $10,800,000.00. Following the transaction, the director now owns 6,480 shares of the company’s stock, valued at approximately $5,832,000. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, Director Pamela Daley sold 1,531 shares of the stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $842.08, for a total value of $1,289,224.48. Following the completion of the sale, the director now owns 5,732 shares of the company’s stock, valued at $4,826,802.56. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Mark Wiedman sold 12,000 shares of BlackRock stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $900.00, for a total transaction of $10,800,000.00. Following the sale, the director now directly owns 6,480 shares in the company, valued at approximately $5,832,000. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 93,042 shares of company stock valued at $79,387,117 in the last ninety days. 0.90% of the stock is currently owned by corporate insiders.

About BlackRock

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.