Cypress Asset Management Inc. TX Invests $1.79 Million in BlackRock, Inc. (NYSE:BLK)

Cypress Asset Management Inc. TX purchased a new position in BlackRock, Inc. (NYSE:BLK) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 2,201 shares of the asset manager’s stock, valued at approximately $1,787,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Abacus Planning Group Inc. boosted its position in shares of BlackRock by 4.0% during the fourth quarter. Abacus Planning Group Inc. now owns 334 shares of the asset manager’s stock valued at $271,000 after buying an additional 13 shares during the period. Knuff & Co LLC raised its stake in shares of BlackRock by 48.1% during the fourth quarter. Knuff & Co LLC now owns 40 shares of the asset manager’s stock valued at $32,000 after acquiring an additional 13 shares in the last quarter. Everhart Financial Group Inc. raised its stake in shares of BlackRock by 3.2% during the fourth quarter. Everhart Financial Group Inc. now owns 450 shares of the asset manager’s stock valued at $365,000 after acquiring an additional 14 shares in the last quarter. Spreng Capital Management Inc. raised its stake in shares of BlackRock by 1.1% during the fourth quarter. Spreng Capital Management Inc. now owns 1,329 shares of the asset manager’s stock valued at $1,079,000 after acquiring an additional 14 shares in the last quarter. Finally, Inscription Capital LLC raised its stake in BlackRock by 1.2% in the fourth quarter. Inscription Capital LLC now owns 1,274 shares of the asset manager’s stock worth $1,034,000 after buying an additional 15 shares in the last quarter. Hedge funds and other institutional investors own 80.69% of the company’s stock.

Insider Activity

In related news, Director Rachel Lord sold 36,059 shares of the business’s stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $818.06, for a total transaction of $29,498,425.54. Following the transaction, the director now owns 17,004 shares of the company’s stock, valued at $13,910,292.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other BlackRock news, Director Mark Wiedman sold 9,000 shares of the company’s stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $795.00, for a total transaction of $7,155,000.00. Following the transaction, the director now directly owns 6,480 shares in the company, valued at approximately $5,151,600. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Rachel Lord sold 36,059 shares of the company’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $818.06, for a total transaction of $29,498,425.54. Following the transaction, the director now owns 17,004 shares in the company, valued at $13,910,292.24. The disclosure for this sale can be found here. In the last quarter, insiders sold 107,015 shares of company stock worth $86,751,357. Corporate insiders own 0.90% of the company’s stock.

BlackRock Stock Down 1.9 %

NYSE:BLK traded down $15.06 during midday trading on Thursday, hitting $784.55. 538,239 shares of the company were exchanged, compared to its average volume of 607,891. The company has a fifty day simple moving average of $790.87 and a 200 day simple moving average of $781.51. BlackRock, Inc. has a fifty-two week low of $596.18 and a fifty-two week high of $845.00. The company has a current ratio of 5.32, a quick ratio of 5.32 and a debt-to-equity ratio of 0.35. The company has a market capitalization of $116.58 billion, a PE ratio of 20.08, a price-to-earnings-growth ratio of 1.66 and a beta of 1.37.

BlackRock (NYSE:BLK) last released its quarterly earnings data on Friday, April 12th. The asset manager reported $9.81 EPS for the quarter, topping analysts’ consensus estimates of $9.42 by $0.39. BlackRock had a net margin of 32.26% and a return on equity of 15.24%. The firm had revenue of $4.73 billion for the quarter, compared to the consensus estimate of $4.65 billion. During the same quarter in the previous year, the firm earned $7.93 earnings per share. The firm’s revenue was up 11.4% on a year-over-year basis. As a group, equities analysts anticipate that BlackRock, Inc. will post 41.25 earnings per share for the current fiscal year.

BlackRock Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 24th. Investors of record on Friday, June 7th will be given a $5.10 dividend. The ex-dividend date is Thursday, June 6th. This represents a $20.40 dividend on an annualized basis and a yield of 2.60%. BlackRock’s dividend payout ratio is presently 51.84%.

Wall Street Analyst Weigh In

BLK has been the topic of several recent research reports. UBS Group upped their price target on shares of BlackRock from $818.00 to $850.00 and gave the company a “neutral” rating in a report on Friday, April 12th. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $930.00 price objective (up previously from $918.00) on shares of BlackRock in a research report on Friday, April 5th. JPMorgan Chase & Co. increased their target price on shares of BlackRock from $742.00 to $767.00 and gave the stock a “neutral” rating in a report on Tuesday, April 2nd. Finally, Morgan Stanley increased their target price on shares of BlackRock from $1,013.00 to $1,025.00 and gave the stock an “overweight” rating in a report on Monday, April 15th. Three equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $845.42.

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.