BlackRock, Inc. (NYSE:BLK) Shares Sold by AdvisorNet Financial Inc

AdvisorNet Financial Inc decreased its stake in BlackRock, Inc. (NYSE:BLKGet Rating) by 19.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 648 shares of the asset manager’s stock after selling 153 shares during the period. AdvisorNet Financial Inc’s holdings in BlackRock were worth $395,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Moody National Bank Trust Division increased its holdings in BlackRock by 336.4% during the 2nd quarter. Moody National Bank Trust Division now owns 1,728 shares of the asset manager’s stock valued at $1,052,000 after acquiring an additional 1,332 shares in the last quarter. Boltwood Capital Management increased its holdings in BlackRock by 5.0% during the 2nd quarter. Boltwood Capital Management now owns 668 shares of the asset manager’s stock valued at $407,000 after acquiring an additional 32 shares in the last quarter. Buttonwood Financial Advisors Inc. increased its holdings in BlackRock by 137.0% during the 2nd quarter. Buttonwood Financial Advisors Inc. now owns 1,353 shares of the asset manager’s stock valued at $824,000 after acquiring an additional 782 shares in the last quarter. Peoples Financial Services CORP. increased its holdings in BlackRock by 61.0% during the 2nd quarter. Peoples Financial Services CORP. now owns 1,127 shares of the asset manager’s stock valued at $686,000 after acquiring an additional 427 shares in the last quarter. Finally, Fulton Bank N.A. grew its holdings in shares of BlackRock by 11.2% during the second quarter. Fulton Bank N.A. now owns 1,397 shares of the asset manager’s stock worth $851,000 after buying an additional 141 shares in the last quarter. Institutional investors and hedge funds own 76.88% of the company’s stock.

Insider Activity

In other news, President Robert Kapito sold 37,588 shares of the company’s stock in a transaction on Monday, July 25th. The shares were sold at an average price of $632.88, for a total value of $23,788,693.44. Following the completion of the transaction, the president now directly owns 226,680 shares in the company, valued at $143,461,238.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other BlackRock news, President Robert Kapito sold 37,588 shares of the stock in a transaction on Monday, July 25th. The shares were sold at an average price of $632.88, for a total transaction of $23,788,693.44. Following the transaction, the president now directly owns 226,680 shares in the company, valued at approximately $143,461,238.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Mark Mccombe sold 1,360 shares of the stock in a transaction on Thursday, August 18th. The shares were sold at an average price of $739.79, for a total transaction of $1,006,114.40. Following the transaction, the director now owns 21,106 shares in the company, valued at $15,614,007.74. The disclosure for this sale can be found here. Over the last three months, insiders sold 83,448 shares of company stock worth $55,259,953. 1.06% of the stock is currently owned by company insiders.

BlackRock Trading Up 1.3 %

Shares of BLK stock opened at $634.73 on Tuesday. The stock has a market cap of $95.70 billion, a price-to-earnings ratio of 16.73, a price-to-earnings-growth ratio of 3.28 and a beta of 1.23. The company has a quick ratio of 3.64, a current ratio of 3.64 and a debt-to-equity ratio of 0.37. BlackRock, Inc. has a fifty-two week low of $575.60 and a fifty-two week high of $973.16. The firm’s 50 day moving average price is $670.71 and its two-hundred day moving average price is $667.50.

BlackRock (NYSE:BLKGet Rating) last announced its quarterly earnings results on Friday, July 15th. The asset manager reported $7.36 earnings per share for the quarter, missing analysts’ consensus estimates of $7.94 by ($0.58). The business had revenue of $4.53 billion for the quarter, compared to analyst estimates of $4.53 billion. BlackRock had a net margin of 30.12% and a return on equity of 15.74%. The company’s quarterly revenue was down 6.1% on a year-over-year basis. During the same period last year, the firm earned $10.03 earnings per share. On average, analysts anticipate that BlackRock, Inc. will post 33.92 EPS for the current year.

BlackRock Increases Dividend

The company also recently announced a dividend, which will be paid on Thursday, September 22nd. Stockholders of record on Wednesday, September 7th will be paid a $4.88 dividend. The ex-dividend date is Tuesday, September 6th. This is an increase from BlackRock’s previous dividend of $2.29. BlackRock’s dividend payout ratio is 51.46%.

Analyst Ratings Changes

A number of brokerages have recently commented on BLK. JPMorgan Chase & Co. lowered their price target on shares of BlackRock from $902.00 to $729.00 and set an “overweight” rating for the company in a report on Friday, July 8th. Morgan Stanley lowered their price target on shares of BlackRock from $801.00 to $773.00 and set an “overweight” rating for the company in a report on Wednesday, July 27th. The Goldman Sachs Group lowered their price target on shares of BlackRock from $830.00 to $710.00 and set a “buy” rating for the company in a report on Wednesday, June 29th. StockNews.com upgraded shares of BlackRock from a “sell” rating to a “hold” rating in a report on Tuesday, August 16th. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on shares of BlackRock from $720.00 to $860.00 and gave the company a “buy” rating in a report on Friday, August 12th. Five analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $804.46.

BlackRock Company Profile

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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.

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Institutional Ownership by Quarter for BlackRock (NYSE:BLK)

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