Hudock Inc. Has $3.42 Million Position in Blackstone Inc. (NYSE:BX)

Hudock Inc. lowered its holdings in shares of Blackstone Inc. (NYSE:BX) by 0.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 19,840 shares of the asset manager’s stock after selling 171 shares during the quarter. Blackstone accounts for about 0.6% of Hudock Inc.’s portfolio, making the stock its 27th biggest position. Hudock Inc.’s holdings in Blackstone were worth $3,421,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of BX. Carnegie Investment Counsel bought a new position in shares of Blackstone during the third quarter worth about $220,000. Exchange Traded Concepts LLC grew its holdings in shares of Blackstone by 2,188.2% during the third quarter. Exchange Traded Concepts LLC now owns 1,167 shares of the asset manager’s stock worth $179,000 after buying an additional 1,116 shares in the last quarter. CX Institutional grew its stake in Blackstone by 4.8% in the third quarter. CX Institutional now owns 2,663 shares of the asset manager’s stock valued at $408,000 after purchasing an additional 122 shares in the last quarter. Creative Planning grew its stake in Blackstone by 4.2% in the third quarter. Creative Planning now owns 237,936 shares of the asset manager’s stock valued at $36,435,000 after purchasing an additional 9,668 shares in the last quarter. Finally, CFM Wealth Partners LLC grew its stake in Blackstone by 21.8% in the third quarter. CFM Wealth Partners LLC now owns 2,434 shares of the asset manager’s stock valued at $373,000 after purchasing an additional 435 shares in the last quarter. 70.00% of the stock is currently owned by institutional investors.

Blackstone Stock Performance

NYSE:BX opened at $160.90 on Thursday. The stock has a market cap of $116.17 billion, a P/E ratio of 44.33, a PEG ratio of 1.13 and a beta of 1.53. The company has a current ratio of 0.67, a quick ratio of 0.71 and a debt-to-equity ratio of 0.61. The stock has a 50 day simple moving average of $177.56 and a 200 day simple moving average of $164.16. Blackstone Inc. has a 1-year low of $115.82 and a 1-year high of $200.96.

Blackstone (NYSE:BX) last announced its quarterly earnings data on Thursday, January 30th. The asset manager reported $1.69 earnings per share for the quarter, beating the consensus estimate of $1.50 by $0.19. Blackstone had a return on equity of 19.58% and a net margin of 20.99%. Research analysts anticipate that Blackstone Inc. will post 5.88 earnings per share for the current year.

Blackstone Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 18th. Shareholders of record on Monday, February 10th will be issued a $1.44 dividend. The ex-dividend date of this dividend is Monday, February 10th. This is a boost from Blackstone’s previous quarterly dividend of $0.86. This represents a $5.76 annualized dividend and a yield of 3.58%. Blackstone’s payout ratio is currently 94.77%.

Analyst Ratings Changes

BX has been the subject of a number of analyst reports. Barclays decreased their price target on Blackstone from $192.00 to $186.00 and set an “equal weight” rating for the company in a research note on Friday, January 31st. StockNews.com downgraded Blackstone from a “buy” rating to a “hold” rating in a research note on Friday, January 31st. Piper Sandler raised their price target on Blackstone from $168.00 to $179.00 and gave the company a “neutral” rating in a research note on Monday, December 23rd. Cowen reaffirmed a “hold” rating on shares of Blackstone in a research report on Friday, October 18th. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on Blackstone from $172.00 to $182.00 and gave the company a “buy” rating in a research report on Monday, November 11th. Thirteen research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, Blackstone presently has a consensus rating of “Hold” and an average target price of $172.38.

Blackstone Company Profile

Blackstone Inc is an alternative asset management firm specializing in real estate, private equity, hedge fund solutions, credit, secondary funds of funds, public debt and equity and multi-asset class strategies. The firm typically invests in early-stage companies. It also provide capital markets services.