Brightworth lessened its holdings in shares of BlackRock, Inc. (NYSE:BLK) by 4.5% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 13,187 shares of the asset manager’s stock after selling 627 shares during the period. BlackRock accounts for approximately 1.2% of Brightworth’s investment portfolio, making the stock its 25th biggest holding. Brightworth’s holdings in BlackRock were worth $5,180,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Private Ocean LLC raised its holdings in BlackRock by 620.0% during the fourth quarter. Private Ocean LLC now owns 72 shares of the asset manager’s stock worth $28,000 after purchasing an additional 62 shares during the last quarter. Evolution Wealth Advisors LLC acquired a new position in BlackRock during the fourth quarter worth $33,000. Legacy Financial Advisors Inc. raised its holdings in BlackRock by 125.6% during the fourth quarter. Legacy Financial Advisors Inc. now owns 88 shares of the asset manager’s stock worth $35,000 after purchasing an additional 49 shares during the last quarter. Highwater Wealth Management LLC acquired a new position in BlackRock during the fourth quarter worth $41,000. Finally, Clean Yield Group acquired a new position in shares of BlackRock in the fourth quarter worth $59,000. 86.05% of the stock is currently owned by institutional investors.
Shares of BLK opened at $431.95 on Friday. The stock has a market capitalization of $68.12 billion, a P/E ratio of 16.04, a price-to-earnings-growth ratio of 1.62 and a beta of 1.37. BlackRock, Inc. has a one year low of $360.79 and a one year high of $578.80. The company has a quick ratio of 3.07, a current ratio of 3.07 and a debt-to-equity ratio of 0.76.
BlackRock (NYSE:BLK) last announced its quarterly earnings data on Wednesday, January 16th. The asset manager reported $6.08 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $6.35 by ($0.27). BlackRock had a net margin of 30.32% and a return on equity of 13.53%. The firm had revenue of $3.43 billion for the quarter, compared to analyst estimates of $3.47 billion. During the same quarter in the previous year, the company earned $6.24 EPS. The company’s quarterly revenue was down 8.8% compared to the same quarter last year. On average, research analysts anticipate that BlackRock, Inc. will post 26 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, March 21st. Stockholders of record on Wednesday, March 6th will be given a dividend of $3.30 per share. This represents a $13.20 dividend on an annualized basis and a dividend yield of 3.06%. This is a boost from BlackRock’s previous quarterly dividend of $3.13. The ex-dividend date is Tuesday, March 5th. BlackRock’s dividend payout ratio is presently 46.49%.
A number of equities analysts have recently weighed in on BLK shares. ValuEngine raised BlackRock from a “sell” rating to a “hold” rating in a report on Wednesday, October 31st. Morgan Stanley dropped their target price on BlackRock from $554.00 to $514.00 and set an “overweight” rating for the company in a research note on Wednesday, November 14th. Deutsche Bank dropped their target price on BlackRock from $458.00 to $444.00 and set a “buy” rating for the company in a research note on Friday, November 16th. Bank of America reiterated a “buy” rating and issued a $478.00 target price (down from $525.00) on shares of BlackRock in a research note on Thursday, December 6th. Finally, Citigroup dropped their target price on BlackRock from $500.00 to $450.00 and set a “buy” rating for the company in a research note on Wednesday, December 19th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and eleven have given a buy rating to the stock. BlackRock has a consensus rating of “Buy” and an average target price of $503.03.
In other BlackRock news, Chairman Laurence Fink sold 44,000 shares of the stock in a transaction on Monday, February 11th. The stock was sold at an average price of $412.75, for a total transaction of $18,161,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Gary Shedlin sold 5,400 shares of the stock in a transaction on Thursday, January 31st. The shares were sold at an average price of $410.74, for a total value of $2,217,996.00. The disclosure for this sale can be found here. Insiders have sold a total of 135,617 shares of company stock worth $56,380,301 over the last quarter. Insiders own 1.75% of the company’s stock.
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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.
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