BlackRock, Inc. (NYSE:BLK) Shares Sold by Bartlett & CO. Wealth Management LLC

Bartlett & CO. Wealth Management LLC lessened its position in BlackRock, Inc. (NYSE:BLK) by 1.0% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,655 shares of the asset manager’s stock after selling 17 shares during the period. Bartlett & CO. Wealth Management LLC’s holdings in BlackRock were worth $1,571,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Redmont Wealth Advisors LLC acquired a new position in shares of BlackRock during the first quarter worth approximately $27,000. Fairscale Capital LLC acquired a new position in shares of BlackRock during the second quarter valued at $31,000. Chilton Capital Management LLC bought a new stake in shares of BlackRock during the first quarter valued at about $38,000. Olistico Wealth LLC bought a new position in BlackRock in the 2nd quarter valued at about $53,000. Finally, ORG Partners LLC increased its stake in BlackRock by 257.9% during the 2nd quarter. ORG Partners LLC now owns 68 shares of the asset manager’s stock valued at $54,000 after buying an additional 49 shares during the period. 80.69% of the stock is owned by institutional investors and hedge funds.

BlackRock Stock Performance

Shares of NYSE BLK opened at $1,007.02 on Friday. BlackRock, Inc. has a one year low of $596.18 and a one year high of $1,032.00. The business’s 50-day moving average price is $915.45 and its two-hundred day moving average price is $837.50. The company has a debt-to-equity ratio of 0.37, a current ratio of 5.06 and a quick ratio of 5.06. The company has a market capitalization of $149.64 billion, a P/E ratio of 25.59, a price-to-earnings-growth ratio of 1.94 and a beta of 1.30.

BlackRock (NYSE:BLK) last released its quarterly earnings data on Friday, October 11th. The asset manager reported $11.46 EPS for the quarter, topping analysts’ consensus estimates of $10.42 by $1.04. The firm had revenue of $5.20 billion for the quarter, compared to the consensus estimate of $5.03 billion. BlackRock had a return on equity of 15.44% and a net margin of 32.36%. The firm’s revenue was up 14.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $10.91 earnings per share. Analysts anticipate that BlackRock, Inc. will post 41.73 earnings per share for the current fiscal year.

BlackRock Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, September 23rd. Shareholders of record on Monday, September 9th were given a $5.10 dividend. The ex-dividend date of this dividend was Monday, September 9th. This represents a $20.40 dividend on an annualized basis and a dividend yield of 2.03%. BlackRock’s dividend payout ratio is currently 51.84%.

Insider Activity

In other news, CEO Laurence Fink sold 29,450 shares of BlackRock stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $843.25, for a total value of $24,833,712.50. Following the transaction, the chief executive officer now owns 353,718 shares of the company’s stock, valued at $298,272,703.50. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, CEO Laurence Fink sold 29,450 shares of the firm’s stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $843.25, for a total value of $24,833,712.50. Following the sale, the chief executive officer now directly owns 353,718 shares of the company’s stock, valued at approximately $298,272,703.50. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Mark Wiedman sold 12,000 shares of the stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $900.00, for a total value of $10,800,000.00. Following the sale, the director now owns 6,480 shares of the company’s stock, valued at approximately $5,832,000. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 66,042 shares of company stock valued at $56,857,777. Insiders own 0.90% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently commented on BLK. Morgan Stanley raised their price objective on shares of BlackRock from $1,150.00 to $1,245.00 and gave the company an “overweight” rating in a research note on Monday, October 14th. Wells Fargo & Company upped their price objective on BlackRock from $1,000.00 to $1,070.00 and gave the company an “overweight” rating in a report on Wednesday, October 9th. TD Cowen lifted their target price on BlackRock from $960.00 to $1,077.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. Barclays upped their price target on shares of BlackRock from $1,010.00 to $1,120.00 and gave the company an “overweight” rating in a report on Monday, October 14th. Finally, Evercore ISI boosted their target price on shares of BlackRock from $995.00 to $1,040.00 and gave the stock an “outperform” rating in a report on Monday, October 14th. Three investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $991.46.

BlackRock 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.