TMD Wealth Management LLC Sells 31 Shares of BlackRock, Inc. (NYSE:BLK)

TMD Wealth Management LLC reduced its position in BlackRock, Inc. (NYSE:BLK) by 8.3% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 343 shares of the asset manager’s stock after selling 31 shares during the period. TMD Wealth Management LLC’s holdings in BlackRock were worth $270,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Redmont Wealth Advisors LLC bought a new stake in shares of BlackRock in the first quarter worth approximately $27,000. Private Wealth Management Group LLC bought a new stake in BlackRock in the 4th quarter worth approximately $28,000. Pineridge Advisors LLC purchased a new stake in BlackRock during the 4th quarter valued at $28,000. Lam Group Inc. bought a new position in shares of BlackRock during the 1st quarter valued at $33,000. Finally, Fairman Group LLC purchased a new position in shares of BlackRock in the 4th quarter worth $35,000. 80.69% of the stock is owned by institutional investors.

Insider Transactions at BlackRock

In related news, Director Mark Wiedman sold 12,000 shares of the firm’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $900.00, for a total transaction of $10,800,000.00. Following the completion of the transaction, the director now directly owns 6,480 shares of the company’s stock, valued at $5,832,000. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director Mark Wiedman sold 12,000 shares of the stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $900.00, for a total transaction of $10,800,000.00. Following the completion of the transaction, the director now directly owns 6,480 shares of the company’s stock, valued at $5,832,000. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Pamela Daley sold 1,531 shares of the firm’s stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $842.08, for a total value of $1,289,224.48. Following the transaction, the director now owns 5,732 shares of the company’s stock, valued at approximately $4,826,802.56. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 93,042 shares of company stock valued at $79,387,117. 0.90% of the stock is currently owned by corporate insiders.

BlackRock Trading Up 0.1 %

Shares of BlackRock stock opened at $885.73 on Friday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 5.06 and a current ratio of 5.06. The company has a fifty day moving average of $857.98 and a 200 day moving average of $814.37. The company has a market capitalization of $131.20 billion, a P/E ratio of 22.51, a P/E/G ratio of 1.92 and a beta of 1.30. BlackRock, Inc. has a fifty-two week low of $596.18 and a fifty-two week high of $903.46.

BlackRock (NYSE:BLK) last released its quarterly earnings data on Monday, July 15th. The asset manager reported $10.36 earnings per share for the quarter, topping analysts’ consensus estimates of $9.96 by $0.40. The firm had revenue of $4.81 billion during the quarter, compared to analyst estimates of $4.85 billion. BlackRock had a return on equity of 15.44% and a net margin of 32.36%. The business’s quarterly revenue was up 7.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $9.28 earnings per share. On average, sell-side analysts anticipate that BlackRock, Inc. will post 41.34 earnings per share for the current fiscal year.

BlackRock Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 23rd. Stockholders of record on Monday, September 9th will be given a dividend of $5.10 per share. This represents a $20.40 annualized dividend and a dividend yield of 2.30%. The ex-dividend date of this dividend is Monday, September 9th. BlackRock’s payout ratio is currently 51.84%.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. Deutsche Bank Aktiengesellschaft upped their price objective on BlackRock from $912.00 to $937.00 and gave the company a “buy” rating in a research report on Thursday, August 15th. UBS Group lowered their price objective on shares of BlackRock from $842.00 to $837.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 10th. Argus raised their price objective on shares of BlackRock from $880.00 to $910.00 and gave the stock a “buy” rating in a report on Tuesday, July 16th. Citigroup upped their target price on shares of BlackRock from $920.00 to $930.00 and gave the company a “buy” rating in a report on Tuesday, July 16th. Finally, Barclays lifted their price target on shares of BlackRock from $985.00 to $990.00 and gave the stock an “overweight” rating in a research note on Monday, September 9th. Three investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $902.13.

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.