Cypress Wealth Services LLC Buys 18 Shares of BlackRock, Inc. (NYSE:BLK)

Cypress Wealth Services LLC boosted its position in shares of BlackRock, Inc. (NYSE:BLK) by 1.8% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,015 shares of the asset manager’s stock after acquiring an additional 18 shares during the period. Cypress Wealth Services LLC’s holdings in BlackRock were worth $964,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of BLK. Axxcess Wealth Management LLC lifted its holdings in BlackRock by 35.8% in the 1st quarter. Axxcess Wealth Management LLC now owns 4,732 shares of the asset manager’s stock worth $3,945,000 after purchasing an additional 1,248 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. boosted its position in shares of BlackRock by 3.9% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 387,202 shares of the asset manager’s stock worth $322,810,000 after acquiring an additional 14,477 shares during the last quarter. Oak Harvest Investment Services purchased a new position in BlackRock during the first quarter valued at $6,735,000. Cetera Investment Advisers increased its holdings in BlackRock by 219.5% in the 1st quarter. Cetera Investment Advisers now owns 44,065 shares of the asset manager’s stock valued at $36,737,000 after acquiring an additional 30,274 shares during the last quarter. Finally, M&G Plc bought a new position in shares of BlackRock during the 1st quarter valued at about $161,918,000. 80.69% of the stock is currently owned by institutional investors.

Insider Buying and Selling at BlackRock

In related news, CEO Laurence Fink sold 29,450 shares of the stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $843.25, for a total value 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other BlackRock news, CEO Laurence Fink sold 29,450 shares of the firm’s stock in a transaction dated Tuesday, August 6th. The shares were 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 approximately $298,272,703.50. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Mark Wiedman sold 27,000 shares of the stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $834.42, for a total transaction of $22,529,340.00. Following the transaction, the director now owns 6,480 shares in the company, valued at approximately $5,407,041.60. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 93,042 shares of company stock valued at $79,387,117 in the last three months. Company insiders own 0.90% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently commented on BLK shares. Morgan Stanley boosted their target price on BlackRock from $1,036.00 to $1,150.00 and gave the stock an “overweight” rating in a research report on Monday. Barclays increased their target price on BlackRock from $990.00 to $1,010.00 and gave the company an “overweight” rating in a research report on Monday. UBS Group reduced their price target on shares of BlackRock from $842.00 to $837.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 10th. StockNews.com assumed coverage on shares of BlackRock in a research note on Friday, October 4th. They issued a “hold” rating for the company. Finally, TD Cowen decreased their target price on shares of BlackRock from $974.00 to $969.00 and set a “buy” rating on the stock in a research report on Monday, July 8th. Three analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $948.93.

BlackRock Trading Up 0.4 %

Shares of NYSE:BLK traded up $4.22 during trading hours on Thursday, hitting $960.14. 20,267 shares of the company’s stock traded hands, compared to its average volume of 572,092. The firm has a market capitalization of $142.68 billion, a P/E ratio of 24.31, a price-to-earnings-growth ratio of 2.05 and a beta of 1.30. The business has a fifty day moving average price of $894.70 and a 200-day moving average price of $829.20. BlackRock, Inc. has a 1 year low of $596.18 and a 1 year high of $962.95. 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 (NYSE:BLK) last announced its quarterly earnings data on Monday, July 15th. The asset manager reported $10.36 EPS for the quarter, beating the consensus estimate of $9.96 by $0.40. BlackRock had a return on equity of 15.44% and a net margin of 32.36%. The company had revenue of $4.81 billion for the quarter, compared to the consensus estimate of $4.85 billion. During the same quarter in the prior year, the company posted $9.28 EPS. BlackRock’s quarterly revenue was up 7.7% on a year-over-year basis. Equities analysts expect that BlackRock, Inc. will post 41.37 earnings per share for the current year.

BlackRock Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 23rd. Investors of record on Monday, September 9th were issued a dividend of $5.10 per share. The ex-dividend date of this dividend was Monday, September 9th. This represents a $20.40 dividend on an annualized basis and a yield of 2.12%. 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.