Avestar Capital LLC Acquires 125 Shares of BlackRock, Inc. (NYSE:BLK)

Avestar Capital LLC increased its holdings in shares of BlackRock, Inc. (NYSE:BLK) by 16.6% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 876 shares of the asset manager’s stock after acquiring an additional 125 shares during the period. Avestar Capital LLC’s holdings in BlackRock were worth $832,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Fairscale Capital LLC purchased a new stake in shares of BlackRock in the 2nd quarter worth approximately $31,000. Reston Wealth Management LLC purchased a new stake in BlackRock during the 3rd quarter valued at about $37,000. MFA Wealth Advisors LLC raised its holdings in BlackRock by 100.0% in the third quarter. MFA Wealth Advisors LLC now owns 40 shares of the asset manager’s stock worth $38,000 after buying an additional 20 shares during the last quarter. Addison Advisors LLC grew its holdings in shares of BlackRock by 81.5% during the third quarter. Addison Advisors LLC now owns 49 shares of the asset manager’s stock valued at $47,000 after buying an additional 22 shares during the last quarter. Finally, Olistico Wealth LLC bought a new stake in shares of BlackRock during the second quarter valued at approximately $53,000. Hedge funds and other institutional investors own 80.69% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the company. Barclays lifted their target price on BlackRock from $1,010.00 to $1,120.00 and gave the stock an “overweight” rating in a report on Monday, October 14th. JPMorgan Chase & Co. upped their target price on shares of BlackRock from $864.00 to $914.00 and gave the company a “neutral” rating in a research note on Monday, October 21st. Morgan Stanley lifted their price target on shares of BlackRock from $1,150.00 to $1,245.00 and gave the stock an “overweight” rating in a research note on Monday, October 14th. Deutsche Bank Aktiengesellschaft increased their price objective on shares of BlackRock from $1,105.00 to $1,133.00 and gave the company a “buy” rating in a research report on Monday, November 11th. Finally, Wells Fargo & Company lifted their target price on shares of BlackRock from $1,000.00 to $1,070.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 9th. Three analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $1,019.62.

BlackRock Stock Performance

NYSE:BLK opened at $1,026.24 on Wednesday. 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 stock has a 50-day simple moving average of $989.43 and a two-hundred day simple moving average of $884.21. The firm has a market capitalization of $158.94 billion, a PE ratio of 25.33, a P/E/G ratio of 1.85 and a beta of 1.30. BlackRock, Inc. has a 52-week low of $724.54 and a 52-week high of $1,068.34.

BlackRock (NYSE:BLK) last announced its quarterly earnings data on Friday, October 11th. The asset manager reported $11.46 earnings per share (EPS) for the quarter, beating 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 during the quarter, compared to the consensus estimate of $5.03 billion. During the same period in the previous year, the company posted $10.91 EPS. The firm’s revenue was up 14.9% on a year-over-year basis. Analysts forecast that BlackRock, Inc. will post 43.17 EPS for the current year.

BlackRock Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 23rd. Investors of record on Thursday, December 5th will be paid a dividend of $5.10 per share. This represents a $20.40 dividend on an annualized basis and a dividend yield of 1.99%. The ex-dividend date of this dividend is Thursday, December 5th. BlackRock’s dividend payout ratio (DPR) is 50.35%.

Insiders Place Their Bets

In related news, Director Mark Wiedman sold 12,000 shares of the business’s stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $900.00, for a total value of $10,800,000.00. Following the transaction, the director now directly owns 6,480 shares of the company’s stock, valued at approximately $5,832,000. The trade was a 64.94 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.90% of the stock is currently owned by company insiders.

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.