Bard Financial Services Inc. Has $2.79 Million Stock Position in BlackRock, Inc. (NYSE:BLK)

Bard Financial Services Inc. reduced its stake in BlackRock, Inc. (NYSE:BLK) by 29.0% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,935 shares of the asset manager’s stock after selling 1,200 shares during the period. Bard Financial Services Inc.’s holdings in BlackRock were worth $2,787,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Redmont Wealth Advisors LLC acquired a new stake in shares of BlackRock in the first quarter valued at about $27,000. Pineridge Advisors LLC bought a new stake in BlackRock in the 4th quarter valued at $28,000. Fairscale Capital LLC acquired a new position in BlackRock during the second quarter worth $31,000. Lam Group Inc. acquired a new stake in shares of BlackRock in the first quarter valued at $33,000. Finally, Fairman Group LLC acquired a new position in shares of BlackRock during the 4th quarter worth about $35,000. 80.69% of the stock is currently owned by institutional investors.

Insider Activity at BlackRock

In related news, CEO Laurence Fink sold 29,450 shares of BlackRock stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $843.25, for a total value of $24,833,712.50. Following the completion of the sale, the chief executive officer now owns 353,718 shares of the company’s stock, valued at approximately $298,272,703.50. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other BlackRock news, CEO Laurence Fink sold 29,450 shares of the business’s stock in a transaction on 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 completion of the transaction, the chief executive officer now owns 353,718 shares of the company’s stock, valued at $298,272,703.50. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Mark Wiedman sold 27,000 shares of the business’s stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $834.42, for a total transaction of $22,529,340.00. Following the transaction, the director now directly owns 6,480 shares of the company’s stock, valued at approximately $5,407,041.60. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 93,042 shares of company stock valued at $79,387,117. Insiders own 0.90% of the company’s stock.

BlackRock Price Performance

BlackRock stock traded down $2.30 during mid-day trading on Friday, hitting $949.19. The company’s stock had a trading volume of 491,906 shares, compared to its average volume of 575,968. BlackRock, Inc. has a twelve month low of $596.18 and a twelve month high of $960.74. The company has a quick ratio of 5.06, a current ratio of 5.06 and a debt-to-equity ratio of 0.37. The stock has a market capitalization of $141.05 billion, a P/E ratio of 24.12, a P/E/G ratio of 2.05 and a beta of 1.30. The stock’s fifty day moving average price is $890.01 and its two-hundred day moving average price is $826.50.

BlackRock (NYSE:BLK) last posted its quarterly earnings data on Monday, July 15th. The asset manager reported $10.36 earnings per share for the quarter, topping the consensus estimate of $9.96 by $0.40. BlackRock had a net margin of 32.36% and a return on equity of 15.44%. The firm had revenue of $4.81 billion for the quarter, compared to analysts’ expectations of $4.85 billion. During the same period in the previous year, the company posted $9.28 EPS. The company’s quarterly revenue was up 7.7% compared to the same quarter last year. Research analysts forecast that BlackRock, Inc. will post 41.37 earnings per share for the current year.

BlackRock Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 23rd. Investors of record on Monday, September 9th were paid a $5.10 dividend. This represents a $20.40 annualized dividend and a dividend yield of 2.15%. The ex-dividend date was Monday, September 9th. BlackRock’s payout ratio is presently 51.84%.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on BLK shares. Argus increased their price target on BlackRock from $880.00 to $910.00 and gave the stock a “buy” rating in a research note on Tuesday, July 16th. Citigroup raised their target price on BlackRock from $920.00 to $930.00 and gave the company a “buy” rating in a research note on Tuesday, July 16th. Deutsche Bank Aktiengesellschaft raised their target price on BlackRock from $912.00 to $937.00 and gave the company a “buy” rating in a research note on Thursday, August 15th. TD Cowen decreased their price target on BlackRock from $974.00 to $969.00 and set a “buy” rating for the company in a research note on Monday, July 8th. Finally, Barclays lifted their price target on BlackRock from $985.00 to $990.00 and gave the stock an “overweight” rating in a research note on Monday, September 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, BlackRock currently has an average rating of “Moderate Buy” and a consensus target price of $932.71.

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.