5T Wealth LLC Invests $985,000 in BlackRock, Inc. (NYSE:BLK)

5T Wealth LLC bought a new stake in BlackRock, Inc. (NYSE:BLK) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 961 shares of the asset manager’s stock, valued at approximately $985,000.

Other institutional investors have also added to or reduced their stakes in the company. Creative Planning grew its stake in shares of BlackRock by 6.2% during the third quarter. Creative Planning now owns 23,217 shares of the asset manager’s stock valued at $22,044,000 after buying an additional 1,353 shares during the last quarter. Moss Adams Wealth Advisors LLC grew its stake in shares of BlackRock by 12.7% during the third quarter. Moss Adams Wealth Advisors LLC now owns 310 shares of the asset manager’s stock valued at $294,000 after buying an additional 35 shares during the last quarter. Blue Trust Inc. grew its stake in shares of BlackRock by 32.6% during the third quarter. Blue Trust Inc. now owns 899 shares of the asset manager’s stock valued at $854,000 after buying an additional 221 shares during the last quarter. Commonwealth Equity Services LLC grew its stake in shares of BlackRock by 1.4% during the third quarter. Commonwealth Equity Services LLC now owns 46,834 shares of the asset manager’s stock valued at $44,470,000 after buying an additional 656 shares during the last quarter. Finally, Wealth Alliance Advisory Group LLC purchased a new stake in shares of BlackRock during the third quarter worth about $630,000. Institutional investors own 80.69% of the company’s stock.

BlackRock Price Performance

Shares of BLK stock opened at $973.22 on Monday. The company’s 50-day simple moving average is $1,019.28 and its two-hundred day simple moving average is $973.49. BlackRock, Inc. has a one year low of $745.55 and a one year high of $1,084.22. The company has a market capitalization of $150.73 billion, a P/E ratio of 23.17, a P/E/G ratio of 1.93 and a beta of 1.28. The company has a debt-to-equity ratio of 0.45, a current ratio of 5.23 and a quick ratio of 5.23.

BlackRock (NYSE:BLK) last issued its quarterly earnings results on Wednesday, January 15th. The asset manager reported $11.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $11.52 by $0.41. The business had revenue of $5.68 billion for the quarter, compared to analyst estimates of $5.57 billion. BlackRock had a net margin of 31.21% and a return on equity of 16.32%. BlackRock’s revenue for the quarter was up 22.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $9.66 EPS. As a group, equities analysts anticipate that BlackRock, Inc. will post 47.44 EPS for the current year.

BlackRock Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 24th. Stockholders of record on Friday, March 7th will be paid a $5.21 dividend. The ex-dividend date is Friday, March 7th. This represents a $20.84 dividend on an annualized basis and a dividend yield of 2.14%. This is a positive change from BlackRock’s previous quarterly dividend of $5.10. BlackRock’s dividend payout ratio is presently 48.57%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on BLK shares. JPMorgan Chase & Co. increased their target price on shares of BlackRock from $914.00 to $971.00 and gave the stock a “neutral” rating in a report on Tuesday, January 14th. Morgan Stanley increased their target price on shares of BlackRock from $1,261.00 to $1,275.00 and gave the stock an “overweight” rating in a report on Thursday, January 16th. UBS Group raised their price objective on shares of BlackRock from $1,017.00 to $1,045.00 and gave the stock a “neutral” rating in a report on Tuesday, January 21st. Deutsche Bank Aktiengesellschaft raised their price objective on shares of BlackRock from $1,215.00 to $1,275.00 and gave the stock a “buy” rating in a report on Thursday, January 16th. Finally, StockNews.com initiated coverage on shares of BlackRock in a report on Monday. They issued a “hold” rating for the company. Three research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $1,120.67.

Insider Transactions at BlackRock

In related news, Director Mark Wiedman sold 36,190 shares of the firm’s stock in a transaction on Friday, December 6th. The shares were sold at an average price of $1,045.90, for a total transaction of $37,851,121.00. Following the sale, the director now owns 6,480 shares in the company, valued at approximately $6,777,432. This trade represents a 84.81 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Robert L. Goldstein sold 54,000 shares of the stock in a transaction on Thursday, December 5th. The shares were sold at an average price of $1,046.03, for a total transaction of $56,485,620.00. Following the transaction, the chief operating officer now directly owns 41,916 shares in the company, valued at approximately $43,845,393.48. The trade was a 56.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 110,190 shares of company stock worth $115,163,141 over the last 90 days. 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.