Jaffetilchin Investment Partners LLC Reduces Stock Holdings in BlackRock, Inc. (NYSE:BLK)

Jaffetilchin Investment Partners LLC decreased its position in BlackRock, Inc. (NYSE:BLK) by 1.2% in the 3rd quarter, Holdings Channel reports. The fund owned 1,069 shares of the asset manager’s stock after selling 13 shares during the period. Jaffetilchin Investment Partners LLC’s holdings in BlackRock were worth $1,015,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the company. Fairscale Capital LLC acquired a new position in BlackRock in the 2nd quarter worth $31,000. Reston Wealth Management LLC acquired a new stake in BlackRock during the 3rd quarter valued at approximately $37,000. MFA Wealth Advisors LLC increased its holdings in BlackRock by 100.0% during the 3rd quarter. MFA Wealth Advisors LLC now owns 40 shares of the asset manager’s stock worth $38,000 after purchasing an additional 20 shares during the last quarter. Addison Advisors LLC raised its position in shares of BlackRock by 81.5% in the 3rd quarter. Addison Advisors LLC now owns 49 shares of the asset manager’s stock valued at $47,000 after purchasing an additional 22 shares in the last quarter. Finally, Olistico Wealth LLC acquired a new stake in shares of BlackRock during the second quarter worth approximately $53,000. Hedge funds and other institutional investors own 80.69% of the company’s stock.

Insider Buying and Selling

In related news, Director Mark Wiedman sold 12,000 shares of the stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $875.03, for a total value of $10,500,360.00. Following the completion of the transaction, the director now owns 6,480 shares in the company, valued at $5,670,194.40. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.90% of the stock is currently owned by insiders.

BlackRock Trading Up 1.4 %

BlackRock stock opened at $1,053.84 on Tuesday. BlackRock, Inc. has a 12-month low of $658.14 and a 12-month high of $1,068.34. The stock has a market capitalization of $156.11 billion, a PE ratio of 26.01, a price-to-earnings-growth ratio of 1.86 and a beta of 1.30. The firm has a 50 day simple moving average of $953.10 and a 200-day simple moving average of $861.57. The company has a debt-to-equity ratio of 0.37, a current ratio of 5.06 and a quick ratio of 5.06.

BlackRock (NYSE:BLK) last posted 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. BlackRock had a return on equity of 15.52% and a net margin of 31.37%. The company had revenue of $5.20 billion for the quarter, compared to the consensus estimate of $5.03 billion. During the same quarter in the previous year, the business earned $10.91 EPS. The company’s quarterly revenue was up 14.9% compared to the same quarter last year. As a group, equities research analysts expect that BlackRock, Inc. will post 43.16 EPS for the current fiscal year.

Wall Street Analyst Weigh In

BLK has been the subject of several research analyst reports. The Goldman Sachs Group boosted their target price on shares of BlackRock from $960.00 to $1,040.00 and gave the stock a “buy” rating in a research report on Thursday, October 3rd. Deutsche Bank Aktiengesellschaft boosted their target price on shares of BlackRock from $1,105.00 to $1,133.00 and gave the company a “buy” rating in a research note on Monday. StockNews.com initiated coverage on shares of BlackRock in a report on Tuesday, November 5th. They issued a “hold” rating for the company. Argus lifted their target price on BlackRock from $880.00 to $910.00 and gave the company a “buy” rating in a research note on Tuesday, July 16th. Finally, JPMorgan Chase & Co. raised their target price on BlackRock from $864.00 to $914.00 and gave the company a “neutral” rating in a research note on Monday, October 21st. Three equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $1,019.62.

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.