CMH Wealth Management LLC Boosts Stake in BlackRock, Inc. (NYSE:BLK)

CMH Wealth Management LLC raised its position in BlackRock, Inc. (NYSE:BLKGet Rating) by 11.5% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 7,714 shares of the asset manager’s stock after buying an additional 795 shares during the period. BlackRock makes up about 1.7% of CMH Wealth Management LLC’s holdings, making the stock its 17th biggest holding. CMH Wealth Management LLC’s holdings in BlackRock were worth $4,698,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the stock. Newbridge Financial Services Group Inc. lifted its position in shares of BlackRock by 49.7% during the second quarter. Newbridge Financial Services Group Inc. now owns 286 shares of the asset manager’s stock worth $174,000 after purchasing an additional 95 shares during the last quarter. McKinley Carter Wealth Services Inc. lifted its position in shares of BlackRock by 5.6% during the second quarter. McKinley Carter Wealth Services Inc. now owns 451 shares of the asset manager’s stock worth $275,000 after purchasing an additional 24 shares during the last quarter. HB Wealth Management LLC raised its stake in BlackRock by 11.3% during the second quarter. HB Wealth Management LLC now owns 1,882 shares of the asset manager’s stock worth $1,146,000 after acquiring an additional 191 shares during the period. Ritholtz Wealth Management raised its stake in BlackRock by 27.3% during the second quarter. Ritholtz Wealth Management now owns 1,403 shares of the asset manager’s stock worth $855,000 after acquiring an additional 301 shares during the period. Finally, Miracle Mile Advisors LLC raised its stake in BlackRock by 12.8% during the second quarter. Miracle Mile Advisors LLC now owns 678 shares of the asset manager’s stock worth $413,000 after acquiring an additional 77 shares during the period. Institutional investors own 76.88% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on BLK shares. JPMorgan Chase & Co. dropped their price objective on shares of BlackRock from $902.00 to $729.00 and set an “overweight” rating on the stock in a research note on Friday, July 8th. Morgan Stanley dropped their price objective on shares of BlackRock from $801.00 to $773.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 27th. The Goldman Sachs Group dropped their price target on shares of BlackRock from $830.00 to $710.00 and set a “buy” rating on the stock in a research note on Wednesday, June 29th. Keefe, Bruyette & Woods dropped their price target on shares of BlackRock from $719.00 to $675.00 and set a “market perform” rating on the stock in a research note on Tuesday, June 28th. Finally, UBS Group dropped their price target on shares of BlackRock from $825.00 to $718.00 in a research note on Monday, July 11th. Five research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $804.46.

Insider Buying and Selling

In related news, President Robert Kapito sold 37,588 shares of the firm’s stock in a transaction that occurred on Monday, July 25th. The shares were sold at an average price of $632.88, for a total value of $23,788,693.44. Following the completion of the transaction, the president now owns 226,680 shares of the company’s stock, valued at approximately $143,461,238.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other BlackRock news, Director Mark Mccombe sold 1,360 shares of BlackRock stock in a transaction on Thursday, August 18th. The shares were sold at an average price of $739.79, for a total transaction of $1,006,114.40. Following the completion of the sale, the director now owns 21,106 shares of the company’s stock, valued at approximately $15,614,007.74. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, President Robert Kapito sold 37,588 shares of BlackRock stock in a transaction on Monday, July 25th. The shares were sold at an average price of $632.88, for a total transaction of $23,788,693.44. Following the sale, the president now directly owns 226,680 shares of the company’s stock, valued at approximately $143,461,238.40. The disclosure for this sale can be found here. In the last 90 days, insiders sold 83,448 shares of company stock valued at $55,259,953. Company insiders own 1.06% of the company’s stock.

BlackRock Price Performance

NYSE:BLK traded down $15.78 during trading hours on Friday, reaching $584.72. 25,151 shares of the company’s stock were exchanged, compared to its average volume of 714,101. The company has a market capitalization of $88.16 billion, a P/E ratio of 15.49, a price-to-earnings-growth ratio of 3.19 and a beta of 1.23. BlackRock, Inc. has a 12 month low of $575.60 and a 12 month high of $973.16. The company has a quick ratio of 3.64, a current ratio of 3.64 and a debt-to-equity ratio of 0.37. The business’s 50-day simple moving average is $672.16 and its two-hundred day simple moving average is $665.81.

BlackRock (NYSE:BLKGet Rating) last posted its quarterly earnings data on Friday, July 15th. The asset manager reported $7.36 EPS for the quarter, missing analysts’ consensus estimates of $7.94 by ($0.58). BlackRock had a return on equity of 15.74% and a net margin of 30.12%. The firm had revenue of $4.53 billion during the quarter, compared to analyst estimates of $4.53 billion. During the same period in the prior year, the business posted $10.03 EPS. The company’s revenue for the quarter was down 6.1% on a year-over-year basis. Sell-side analysts expect that BlackRock, Inc. will post 33.92 EPS for the current fiscal year.

BlackRock Increases Dividend

The company also recently disclosed a dividend, which was paid on Thursday, September 22nd. Investors of record on Wednesday, September 7th were paid a $4.88 dividend. This is a positive change from BlackRock’s previous dividend of $2.29. The ex-dividend date of this dividend was Tuesday, September 6th. BlackRock’s dividend payout ratio (DPR) is currently 51.46%.

BlackRock Company Profile

(Get Rating)

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.

See Also

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Institutional Ownership by Quarter for BlackRock (NYSE:BLK)

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