Cypress Wealth Services LLC Purchases 18 Shares of BlackRock, Inc. (NYSE:BLK)

Cypress Wealth Services LLC lifted its holdings in BlackRock, Inc. (NYSE:BLK) by 1.8% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,015 shares of the asset manager’s stock after acquiring an additional 18 shares during the period. Cypress Wealth Services LLC’s holdings in BlackRock were worth $964,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Wedmont Private Capital boosted its stake in shares of BlackRock by 10.4% during the third quarter. Wedmont Private Capital now owns 2,066 shares of the asset manager’s stock valued at $1,944,000 after purchasing an additional 195 shares in the last quarter. Marcum Wealth LLC grew its holdings in BlackRock by 9.4% during the 3rd quarter. Marcum Wealth LLC now owns 1,026 shares of the asset manager’s stock worth $975,000 after acquiring an additional 88 shares during the period. First National Corp MA ADV acquired a new position in BlackRock in the third quarter valued at approximately $224,000. First PREMIER Bank bought a new position in BlackRock during the third quarter worth $114,000. Finally, True North Advisors LLC grew its stake in shares of BlackRock by 9.6% in the 3rd quarter. True North Advisors LLC now owns 480 shares of the asset manager’s stock valued at $456,000 after buying an additional 42 shares during the period. 80.69% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts recently weighed in on BLK shares. Keefe, Bruyette & Woods boosted their price target on shares of BlackRock from $915.00 to $934.00 and gave the stock an “outperform” rating in a report on Tuesday, July 16th. UBS Group dropped their target price on BlackRock from $842.00 to $837.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 10th. Argus boosted their price objective on BlackRock from $880.00 to $910.00 and gave the company a “buy” rating in a research note on Tuesday, July 16th. StockNews.com began coverage on BlackRock in a research note on Friday, October 4th. They issued a “hold” rating for the company. Finally, The Goldman Sachs Group upped their price target on BlackRock from $960.00 to $1,040.00 and gave the company a “buy” rating in a research report on Thursday, October 3rd. Three investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $948.93.

Insider Activity

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 value of $10,800,000.00. Following the sale, the director now directly 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 legal filing with the SEC, which can be accessed through this link. In other BlackRock news, CEO Laurence Fink sold 29,450 shares of BlackRock stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $843.25, for a total value of $24,833,712.50. Following the completion of the sale, the chief executive officer now owns 353,718 shares of the company’s stock, valued at approximately $298,272,703.50. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, 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 value of $10,800,000.00. Following the completion of the transaction, the director now owns 6,480 shares of the company’s stock, valued at $5,832,000. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 93,042 shares of company stock worth $79,387,117. Insiders own 0.90% of the company’s stock.

BlackRock Trading Up 0.4 %

Shares of BLK stock traded up $4.22 during trading hours on Thursday, reaching $960.14. The company’s stock had a trading volume of 20,267 shares, compared to its average volume of 572,092. The company has a current ratio of 5.06, a quick ratio of 5.06 and a debt-to-equity ratio of 0.37. BlackRock, Inc. has a one year low of $596.18 and a one year high of $962.95. The stock has a market capitalization of $142.68 billion, a P/E ratio of 24.31, a P/E/G ratio of 2.05 and a beta of 1.30. The firm’s fifty day simple moving average is $894.70 and its 200 day simple moving average is $829.20.

BlackRock (NYSE:BLK) last announced its quarterly 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. BlackRock had a net margin of 32.36% and a return on equity of 15.44%. The company had revenue of $4.81 billion for the quarter, compared to analysts’ expectations of $4.85 billion. During the same quarter in the previous year, the company earned $9.28 earnings per share. BlackRock’s quarterly revenue was up 7.7% on a year-over-year basis. Equities research analysts expect that BlackRock, Inc. will post 41.37 EPS for the current 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. This represents a $20.40 dividend on an annualized basis and a yield of 2.12%. The ex-dividend date was Monday, September 9th. 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.