Abbrea Capital LLC Has $1.31 Million Stake in BlackRock, Inc. (NYSE:BLK)

Abbrea Capital LLC grew its holdings in shares of BlackRock, Inc. (NYSE:BLK) by 9.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,615 shares of the asset manager’s stock after acquiring an additional 140 shares during the quarter. Abbrea Capital LLC’s holdings in BlackRock were worth $1,311,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the business. Nikulski Financial Inc. increased its stake in shares of BlackRock by 6.8% in the third quarter. Nikulski Financial Inc. now owns 314 shares of the asset manager’s stock valued at $203,000 after buying an additional 20 shares during the period. Exchange Traded Concepts LLC lifted its holdings in shares of BlackRock by 671.4% in the 3rd quarter. Exchange Traded Concepts LLC now owns 54 shares of the asset manager’s stock worth $35,000 after purchasing an additional 47 shares in the last quarter. Private Trust Co. NA lifted its holdings in shares of BlackRock by 1.6% in the 3rd quarter. Private Trust Co. NA now owns 1,118 shares of the asset manager’s stock worth $722,000 after purchasing an additional 18 shares in the last quarter. Caprock Group LLC grew its holdings in shares of BlackRock by 2.8% during the third quarter. Caprock Group LLC now owns 1,924 shares of the asset manager’s stock valued at $1,244,000 after buying an additional 53 shares during the last quarter. Finally, Marion Wealth Management grew its holdings in shares of BlackRock by 2.8% during the third quarter. Marion Wealth Management now owns 2,192 shares of the asset manager’s stock valued at $1,417,000 after buying an additional 60 shares during the last quarter. Institutional investors and hedge funds own 80.69% of the company’s stock.

BlackRock Stock Performance

BLK stock traded up $5.23 during mid-day trading on Friday, hitting $762.88. The company had a trading volume of 447,905 shares, compared to its average volume of 625,928. The firm has a market cap of $113.62 billion, a PE ratio of 19.37, a price-to-earnings-growth ratio of 1.58 and a beta of 1.37. The company has a debt-to-equity ratio of 0.32, a quick ratio of 3.48 and a current ratio of 3.48. BlackRock, Inc. has a 12 month low of $596.18 and a 12 month high of $845.00. The stock’s fifty day moving average price is $802.70 and its two-hundred day moving average price is $759.32.

BlackRock (NYSE:BLK) last posted its quarterly earnings results on Friday, April 12th. The asset manager reported $9.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $9.42 by $0.39. BlackRock had a net margin of 32.26% and a return on equity of 15.34%. The company had revenue of $4.73 billion for the quarter, compared to analyst estimates of $4.65 billion. During the same quarter in the previous year, the firm posted $7.93 earnings per share. The company’s quarterly revenue was up 11.4% compared to the same quarter last year. On average, analysts forecast that BlackRock, Inc. will post 41.19 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Stephen Cohen sold 950 shares of the business’s stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $805.55, for a total value of $765,272.50. Following the sale, the director now owns 4,437 shares of the company’s stock, valued at $3,574,225.35. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, General Counsel Christopher J. Meade sold 3,100 shares of the business’s stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $793.86, for a total transaction of $2,460,966.00. Following the completion of the transaction, the general counsel now owns 8,628 shares of the company’s stock, valued at $6,849,424.08. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Stephen Cohen sold 950 shares of the company’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $805.55, for a total transaction of $765,272.50. Following the sale, the director now owns 4,437 shares of the company’s stock, valued at $3,574,225.35. The disclosure for this sale can be found here. Insiders have sold a total of 82,511 shares of company stock valued at $66,778,367 over the last quarter. Company insiders own 0.90% of the company’s stock.

Analyst Ratings Changes

BLK has been the subject of a number of analyst reports. Morgan Stanley lifted their price objective on shares of BlackRock from $1,013.00 to $1,025.00 and gave the company an “overweight” rating in a report on Monday, April 15th. JPMorgan Chase & Co. lifted their price objective on shares of BlackRock from $742.00 to $767.00 and gave the company a “neutral” rating in a report on Tuesday, April 2nd. Keefe, Bruyette & Woods reiterated an “outperform” rating and set a $930.00 price objective (up from $918.00) on shares of BlackRock in a report on Friday, April 5th. TD Cowen raised shares of BlackRock from a “market perform” rating to an “outperform” rating and raised their price target for the company from $819.00 to $938.00 in a research report on Tuesday, January 16th. Finally, UBS Group raised their price target on shares of BlackRock from $818.00 to $850.00 and gave the company a “neutral” rating in a research report on Friday, April 12th. Three investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, BlackRock currently has a consensus rating of “Moderate Buy” and a consensus target price of $845.42.

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.