Wealth Alliance Advisory Group LLC Buys Shares of 664 BlackRock, Inc. (NYSE:BLK)

Wealth Alliance Advisory Group LLC purchased a new position in BlackRock, Inc. (NYSE:BLK) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 664 shares of the asset manager’s stock, valued at approximately $630,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Redmont Wealth Advisors LLC bought a new stake in BlackRock during the 1st quarter valued at $27,000. Fairscale Capital LLC bought a new stake in BlackRock during the second quarter valued at about $31,000. Chilton Capital Management LLC purchased a new position in BlackRock in the first quarter valued at about $38,000. Olistico Wealth LLC purchased a new stake in shares of BlackRock during the second quarter valued at about $53,000. Finally, ORG Partners LLC boosted its holdings in shares of BlackRock by 257.9% in 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 in the last quarter. 80.69% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other BlackRock news, CEO Laurence Fink sold 29,450 shares of the company’s stock in a transaction dated 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 completion of the transaction, the chief executive officer now owns 353,718 shares in the company, valued at approximately $298,272,703.50. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, Director Mark Wiedman sold 12,000 shares of BlackRock stock in a transaction 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. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Laurence Fink sold 29,450 shares of the company’s stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $843.25, for a total transaction 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 represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 66,042 shares of company stock valued at $56,857,777. Corporate insiders own 0.90% of the company’s stock.

BlackRock Trading Up 0.5 %

NYSE BLK opened at $1,007.02 on Friday. The company has a fifty day moving average of $915.45 and a 200 day moving average of $837.50. The company has a market capitalization of $149.64 billion, a PE ratio of 25.59, a P/E/G ratio of 1.94 and a beta of 1.30. 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, Inc. has a 1 year low of $596.18 and a 1 year high of $1,032.00.

BlackRock (NYSE:BLK) last issued its earnings results 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 15.44% and a net margin of 32.36%. The firm had revenue of $5.20 billion for the quarter, compared to the consensus estimate of $5.03 billion. During the same quarter in the prior year, the business earned $10.91 earnings per share. The company’s revenue was up 14.9% compared to the same quarter last year. Research analysts forecast that BlackRock, Inc. will post 41.73 earnings per share for the current year.

BlackRock Announces Dividend

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

Wall Street Analyst Weigh In

A number of research firms recently commented on BLK. Wells Fargo & Company increased their target price on shares of BlackRock from $1,000.00 to $1,070.00 and gave the company an “overweight” rating in a research report on Wednesday, October 9th. Keefe, Bruyette & Woods raised their price objective on BlackRock from $915.00 to $934.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 16th. JPMorgan Chase & Co. increased their price target on BlackRock from $774.00 to $864.00 and gave the company a “neutral” rating in a research note on Tuesday, October 1st. Morgan Stanley boosted their price target on BlackRock from $1,150.00 to $1,245.00 and gave the stock an “overweight” rating in a research note on Monday, October 14th. Finally, The Goldman Sachs Group increased their price objective on shares of BlackRock from $960.00 to $1,040.00 and gave the company a “buy” rating in a research report on Thursday, October 3rd. Three investment 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 has an average rating of “Moderate Buy” and an average price target of $991.46.

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.