Accretive Wealth Partners LLC Cuts Holdings in BlackRock, Inc. (NYSE:BLK)

Accretive Wealth Partners LLC lowered its stake in shares of BlackRock, Inc. (NYSE:BLK) by 2.6% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,861 shares of the asset manager’s stock after selling 49 shares during the quarter. Accretive Wealth Partners LLC’s holdings in BlackRock were worth $1,767,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Fairscale Capital LLC bought a new stake in BlackRock during the second quarter worth about $31,000. Reston Wealth Management LLC bought a new stake in BlackRock in the 3rd quarter worth approximately $37,000. MFA Wealth Advisors LLC boosted its stake in BlackRock by 100.0% in the third quarter. MFA Wealth Advisors LLC now owns 40 shares of the asset manager’s stock worth $38,000 after buying an additional 20 shares in the last quarter. Addison Advisors LLC raised its stake in shares of BlackRock by 81.5% during the third quarter. Addison Advisors LLC now owns 49 shares of the asset manager’s stock worth $47,000 after acquiring an additional 22 shares in the last quarter. Finally, Olistico Wealth LLC bought a new stake in shares of BlackRock in the 2nd quarter worth approximately $53,000. 80.69% of the stock is currently owned by hedge funds and other institutional investors.

BlackRock Stock Up 0.7 %

BlackRock stock opened at $1,032.30 on Friday. The stock has a fifty day moving average of $981.26 and a 200 day moving average of $877.67. The company has a debt-to-equity ratio of 0.37, a quick ratio of 5.06 and a current ratio of 5.06. The stock has a market cap of $159.88 billion, a PE ratio of 25.48, a price-to-earnings-growth ratio of 1.83 and a beta of 1.30. BlackRock, Inc. has a one year low of $724.54 and a one year high of $1,068.34.

BlackRock (NYSE:BLK) last issued its quarterly earnings results on Friday, October 11th. The asset manager reported $11.46 EPS for the quarter, topping analysts’ consensus estimates of $10.42 by $1.04. The business had revenue of $5.20 billion during the quarter, compared to analysts’ expectations of $5.03 billion. BlackRock had a return on equity of 15.52% and a net margin of 31.37%. The business’s quarterly revenue was up 14.9% on a year-over-year basis. During the same quarter in the prior year, the business posted $10.91 earnings per share. As a group, sell-side analysts predict that BlackRock, Inc. will post 43.17 EPS for the current year.

BlackRock Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 23rd. Stockholders of record on Thursday, December 5th will be given a dividend of $5.10 per share. The ex-dividend date is Thursday, December 5th. This represents a $20.40 dividend on an annualized basis and a dividend yield of 1.98%. BlackRock’s dividend payout ratio is currently 50.35%.

Insiders Place Their Bets

In related news, Director Mark Wiedman sold 12,000 shares of BlackRock stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $900.00, for a total transaction of $10,800,000.00. Following the completion of the transaction, the director now directly owns 6,480 shares of the company’s stock, valued at approximately $5,832,000. The trade was a 64.94 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.90% of the company’s stock.

Wall Street Analyst Weigh In

BLK has been the topic of a number of analyst reports. StockNews.com assumed coverage on shares of BlackRock in a research report on Thursday. They issued a “hold” rating on the stock. TD Cowen boosted their target price on BlackRock from $960.00 to $1,077.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. Wells Fargo & Company raised their price target on BlackRock from $1,000.00 to $1,070.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 9th. Barclays increased their price objective on BlackRock from $1,010.00 to $1,120.00 and gave the company an “overweight” rating in a research note on Monday, October 14th. Finally, Evercore ISI upped their price target on shares of BlackRock from $1,040.00 to $1,160.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. Three investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $1,019.62.

BlackRock 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.