Oak Harvest Investment Services Acquires New Stake in BlackRock, Inc. (NYSE:BLK)

Oak Harvest Investment Services acquired a new stake in shares of BlackRock, Inc. (NYSE:BLK) in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 8,078 shares of the asset manager’s stock, valued at approximately $6,735,000.

A number of other large investors also recently bought and sold shares of the business. Redmont Wealth Advisors LLC purchased a new stake in shares of BlackRock in the 1st quarter worth $27,000. Tennessee Valley Asset Management Partners purchased a new stake in shares of BlackRock in the 4th quarter worth $27,000. Private Wealth Management Group LLC purchased a new stake in shares of BlackRock in the 4th quarter worth $28,000. Pineridge Advisors LLC purchased a new stake in shares of BlackRock in the 4th quarter worth $28,000. Finally, LFA Lugano Financial Advisors SA lifted its holdings in shares of BlackRock by 208.3% in the 4th quarter. LFA Lugano Financial Advisors SA now owns 37 shares of the asset manager’s stock worth $30,000 after buying an additional 25 shares during the period. Hedge funds and other institutional investors own 80.69% of the company’s stock.

BlackRock Stock Performance

BlackRock stock traded down $0.01 during trading hours on Thursday, hitting $789.12. 250,799 shares of the stock traded hands, compared to its average volume of 506,332. The company has a debt-to-equity ratio of 0.35, a current ratio of 5.32 and a quick ratio of 5.32. The firm’s 50 day moving average price is $780.75 and its 200-day moving average price is $792.72. The stock has a market capitalization of $117.26 billion, a price-to-earnings ratio of 20.05, a P/E/G ratio of 1.63 and a beta of 1.32. BlackRock, Inc. has a 1 year low of $596.18 and a 1 year high of $845.00.

BlackRock (NYSE:BLK) last posted its quarterly earnings results on Friday, April 12th. The asset manager reported $9.81 earnings per share for the quarter, beating the consensus estimate of $9.42 by $0.39. BlackRock had a return on equity of 15.24% and a net margin of 32.26%. The business 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 business earned $7.93 EPS. The company’s quarterly revenue was up 11.4% compared to the same quarter last year. As a group, equities analysts expect that BlackRock, Inc. will post 41.25 EPS for the current fiscal year.

BlackRock Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 24th. Shareholders of record on Friday, June 7th were given a dividend of $5.10 per share. The ex-dividend date of this dividend was Friday, June 7th. This represents a $20.40 dividend on an annualized basis and a yield of 2.59%. BlackRock’s dividend payout ratio is currently 51.84%.

Analyst Ratings Changes

Several research analysts have recently commented on the company. UBS Group boosted their price target on BlackRock from $818.00 to $850.00 and gave the stock a “neutral” rating in a research report on Friday, April 12th. Morgan Stanley boosted their price target on BlackRock from $1,013.00 to $1,025.00 and gave the stock an “overweight” rating in a research report on Monday, April 15th. Keefe, Bruyette & Woods reissued an “outperform” rating and issued a $915.00 price target on shares of BlackRock in a research report on Tuesday. Finally, JPMorgan Chase & Co. boosted their price target on BlackRock from $742.00 to $767.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 2nd. Three research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, BlackRock has an average rating of “Moderate Buy” and an average price target of $844.17.

Insider Buying and Selling at BlackRock

In other BlackRock news, Director Mark Wiedman sold 9,000 shares of the stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $795.00, for a total transaction of $7,155,000.00. Following the completion of the transaction, the director now owns 6,480 shares of the company’s stock, valued at $5,151,600. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Mark Wiedman sold 9,000 shares of the stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $795.00, for a total value of $7,155,000.00. Following the completion of the sale, the director now owns 6,480 shares of the company’s stock, valued at $5,151,600. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Laurence Fink sold 30,978 shares of the stock in a transaction that occurred on Monday, May 20th. The shares were sold at an average price of $807.29, for a total value of $25,008,229.62. Following the completion of the sale, the chief executive officer now directly owns 383,168 shares of the company’s stock, valued at approximately $309,327,694.72. The disclosure for this sale can be found here. Insiders own 0.90% of the company’s stock.

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.