Bard Financial Services Inc. purchased a new position in BlackRock, Inc. (NYSE:BLK) during the fourth quarter, HoldingsChannel reports. The fund purchased 1,945 shares of the asset manager’s stock, valued at approximately $1,403,000.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. McCarthy Asset Management Inc. acquired a new stake in shares of BlackRock in the 4th quarter worth approximately $25,000. Sittner & Nelson LLC acquired a new stake in BlackRock during the 4th quarter valued at $25,000. Baron Silver Stevens Financial Advisors LLC acquired a new stake in BlackRock during the 4th quarter valued at $35,000. SOA Wealth Advisors LLC. acquired a new stake in BlackRock during the 4th quarter valued at $36,000. Finally, American Research & Management Co. boosted its holdings in shares of BlackRock by 333.3% during the fourth quarter. American Research & Management Co. now owns 52 shares of the asset manager’s stock worth $38,000 after purchasing an additional 40 shares during the last quarter. Institutional investors and hedge funds own 79.10% of the company’s stock.
Several research analysts recently weighed in on the company. Barclays increased their target price on BlackRock from $800.00 to $850.00 and gave the stock an “overweight” rating in a research report on Friday, January 15th. Morgan Stanley increased their target price on BlackRock from $750.00 to $890.00 and gave the stock an “overweight” rating in a research report on Monday, January 11th. BMO Capital Markets increased their target price on BlackRock from $709.00 to $715.00 and gave the stock a “market perform” rating in a research report on Friday, January 15th. Wells Fargo & Company increased their target price on BlackRock from $875.00 to $890.00 and gave the stock an “overweight” rating in a research report on Wednesday. Finally, Zacks Investment Research lowered BlackRock from a “buy” rating to a “hold” rating and set a $733.00 target price on the stock. in a research report on Monday, December 21st. Two investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $737.00.
BlackRock (NYSE:BLK) last issued its earnings results on Wednesday, January 13th. The asset manager reported $10.18 EPS for the quarter, beating the Zacks’ consensus estimate of $9.14 by $1.04. BlackRock had a return on equity of 15.74% and a net margin of 30.43%. The company had revenue of $4.48 billion during the quarter, compared to the consensus estimate of $4.28 billion. During the same period in the previous year, the firm posted $8.34 earnings per share. BlackRock’s quarterly revenue was up 12.6% compared to the same quarter last year. On average, equities analysts expect that BlackRock, Inc. will post 36.68 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Tuesday, March 23rd. Shareholders of record on Friday, March 5th were paid a $4.13 dividend. This is an increase from BlackRock’s previous quarterly dividend of $3.63. This represents a $16.52 dividend on an annualized basis and a yield of 2.10%. The ex-dividend date was Thursday, March 4th. BlackRock’s payout ratio is presently 48.85%.
In other BlackRock news, Director Mark Mccombe sold 1,476 shares of BlackRock stock in a transaction that occurred on Tuesday, February 2nd. The stock was sold at an average price of $726.09, for a total value of $1,071,708.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Robert L. Goldstein sold 1,775 shares of BlackRock stock in a transaction that occurred on Thursday, February 4th. The shares were sold at an average price of $735.85, for a total value of $1,306,133.75. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 40,418 shares of company stock valued at $29,492,515. 1.42% of the stock is currently owned by insiders.
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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