Allen Mooney & Barnes Investment Advisors LLC Buys 35 Shares of BlackRock, Inc. (NYSE:BLK)

Allen Mooney & Barnes Investment Advisors LLC grew its stake in BlackRock, Inc. (NYSE:BLK) by 0.2% in the 1st quarter, Holdings Channel.com reports. The fund owned 15,305 shares of the asset manager’s stock after purchasing an additional 35 shares during the quarter. BlackRock makes up 2.3% of Allen Mooney & Barnes Investment Advisors LLC’s holdings, making the stock its 14th largest holding. Allen Mooney & Barnes Investment Advisors LLC’s holdings in BlackRock were worth $12,029,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently modified their holdings of the stock. Abacus Planning Group Inc. grew its holdings in shares of BlackRock by 4.0% in the 4th quarter. Abacus Planning Group Inc. now owns 334 shares of the asset manager’s stock valued at $271,000 after acquiring an additional 13 shares in the last quarter. Knuff & Co LLC grew its holdings in BlackRock by 48.1% during the fourth quarter. Knuff & Co LLC now owns 40 shares of the asset manager’s stock worth $32,000 after purchasing an additional 13 shares during the period. Everhart Financial Group Inc. grew its holdings in BlackRock by 3.2% during the fourth quarter. Everhart Financial Group Inc. now owns 450 shares of the asset manager’s stock worth $365,000 after purchasing an additional 14 shares during the period. Spreng Capital Management Inc. grew its holdings in BlackRock by 1.1% during the fourth quarter. Spreng Capital Management Inc. now owns 1,329 shares of the asset manager’s stock worth $1,079,000 after purchasing an additional 14 shares during the period. Finally, Magellan Asset Management Ltd grew its holdings in BlackRock by 3.6% during the fourth quarter. Magellan Asset Management Ltd now owns 404 shares of the asset manager’s stock worth $328,000 after purchasing an additional 14 shares during the period. Institutional investors own 80.69% of the company’s stock.

Insider Activity

In other news, Director Mark Wiedman sold 9,000 shares of BlackRock stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $795.00, for a total value of $7,155,000.00. Following the completion of the sale, the director now directly owns 6,480 shares in the company, valued at $5,151,600. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other BlackRock news, Director Mark Wiedman sold 9,000 shares of the business’s stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $795.00, for a total transaction of $7,155,000.00. Following the completion of the transaction, the director now directly owns 6,480 shares in the company, valued at $5,151,600. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Laurence Fink sold 30,978 shares of the business’s stock in a transaction that occurred on Monday, May 20th. The shares were sold at an average price of $807.29, for a total transaction of $25,008,229.62. Following the transaction, the chief executive officer now owns 383,168 shares of the company’s stock, valued at $309,327,694.72. The disclosure for this sale can be found here. 0.90% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of equities analysts recently commented on BLK shares. Keefe, Bruyette & Woods reiterated an “outperform” rating and set a $930.00 price target (up previously from $918.00) on shares of BlackRock in a report on Friday, April 5th. Morgan Stanley lifted their price target on BlackRock from $1,013.00 to $1,025.00 and gave the stock an “overweight” rating in a report on Monday, April 15th. JPMorgan Chase & Co. lifted their price target on BlackRock from $742.00 to $767.00 and gave the stock a “neutral” rating in a report on Tuesday, April 2nd. Finally, UBS Group lifted their price target on BlackRock from $818.00 to $850.00 and gave the stock a “neutral” rating in a report on Friday, April 12th. Three equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $845.42.

BlackRock Trading Up 1.4 %

Shares of BLK stock opened at $798.95 on Tuesday. The firm has a 50 day moving average price of $776.33 and a two-hundred day moving average price of $792.19. The company has a quick ratio of 5.32, a current ratio of 5.32 and a debt-to-equity ratio of 0.35. The company has a market capitalization of $118.72 billion, a PE ratio of 20.30, a price-to-earnings-growth ratio of 1.63 and a beta of 1.34. BlackRock, Inc. has a 12-month low of $596.18 and a 12-month high of $845.00.

BlackRock (NYSE:BLK) last released its quarterly earnings results on Friday, April 12th. The asset manager reported $9.81 earnings per share for the quarter, beating analysts’ consensus estimates of $9.42 by $0.39. BlackRock had a net margin of 32.26% and a return on equity of 15.24%. The company had revenue of $4.73 billion during the quarter, compared to the consensus estimate of $4.65 billion. During the same period in the previous year, the business earned $7.93 earnings per share. The firm’s quarterly revenue was up 11.4% on a year-over-year basis. As a group, analysts predict that BlackRock, Inc. will post 41.25 earnings per share for the current year.

BlackRock Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 24th. Stockholders of record on Friday, June 7th were given a $5.10 dividend. The ex-dividend date of this dividend was Friday, June 7th. This represents a $20.40 dividend on an annualized basis and a dividend yield of 2.55%. BlackRock’s payout ratio is 51.84%.

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.