BlackRock, Inc. (NYSE:BLK) Stock Position Lessened by CMH Wealth Management LLC

CMH Wealth Management LLC reduced its stake in shares of BlackRock, Inc. (NYSE:BLK) by 3.3% during the fourth quarter, Holdings Channel.com reports. The firm owned 7,706 shares of the asset manager’s stock after selling 267 shares during the period. BlackRock accounts for about 1.8% of CMH Wealth Management LLC’s portfolio, making the stock its 24th biggest position. CMH Wealth Management LLC’s holdings in BlackRock were worth $7,899,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Edgestream Partners L.P. acquired a new position in shares of BlackRock during the second quarter valued at approximately $383,000. King Luther Capital Management Corp boosted its stake in BlackRock by 12.6% during the 2nd quarter. King Luther Capital Management Corp now owns 421 shares of the asset manager’s stock valued at $331,000 after purchasing an additional 47 shares in the last quarter. AE Wealth Management LLC increased its position in shares of BlackRock by 19.9% during the 2nd quarter. AE Wealth Management LLC now owns 1,162 shares of the asset manager’s stock valued at $915,000 after purchasing an additional 193 shares during the period. Pacer Advisors Inc. raised its stake in shares of BlackRock by 5.5% in the 2nd quarter. Pacer Advisors Inc. now owns 9,941 shares of the asset manager’s stock worth $7,827,000 after buying an additional 522 shares in the last quarter. Finally, ProShare Advisors LLC lifted its holdings in shares of BlackRock by 4.7% in the second quarter. ProShare Advisors LLC now owns 28,358 shares of the asset manager’s stock valued at $22,327,000 after buying an additional 1,276 shares during the period. Institutional investors and hedge funds own 80.69% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. TD Cowen boosted their price target on shares of BlackRock from $960.00 to $1,077.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. StockNews.com initiated coverage on shares of BlackRock in a research note on Thursday, January 16th. They set a “hold” rating for the company. Keefe, Bruyette & Woods decreased their price target on shares of BlackRock from $1,225.00 to $1,160.00 and set an “outperform” rating on the stock in a research report on Monday, January 13th. The Goldman Sachs Group increased their price objective on BlackRock from $960.00 to $1,040.00 and gave the company a “buy” rating in a research report on Thursday, October 3rd. Finally, Morgan Stanley lifted their target price on BlackRock from $1,261.00 to $1,275.00 and gave the stock an “overweight” rating in a report on Thursday, January 16th. Three investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $1,103.33.

Insiders Place Their Bets

In other BlackRock news, COO Robert L. Goldstein sold 54,000 shares of the stock in a transaction on Thursday, December 5th. The shares were sold at an average price of $1,046.03, for a total transaction of $56,485,620.00. Following the transaction, the chief operating officer now directly owns 41,916 shares of the company’s stock, valued at $43,845,393.48. This represents a 56.30 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Mark Wiedman sold 36,190 shares of BlackRock stock in a transaction on Friday, December 6th. The stock was sold at an average price of $1,045.90, for a total transaction of $37,851,121.00. Following the completion of the transaction, the director now owns 6,480 shares in the company, valued at $6,777,432. This trade represents a 84.81 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.90% of the company’s stock.

BlackRock Price Performance

NYSE BLK opened at $1,004.23 on Tuesday. The company has a debt-to-equity ratio of 0.37, a current ratio of 5.06 and a quick ratio of 5.06. The firm has a market capitalization of $155.54 billion, a price-to-earnings ratio of 24.78, a price-to-earnings-growth ratio of 1.53 and a beta of 1.28. The company has a 50 day simple moving average of $1,027.33 and a 200-day simple moving average of $948.40. BlackRock, Inc. has a 52-week low of $745.55 and a 52-week high of $1,082.45.

BlackRock (NYSE:BLK) last released its earnings results on Wednesday, January 15th. The asset manager reported $11.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $11.52 by $0.41. BlackRock had a net margin of 31.37% and a return on equity of 15.52%. The company had revenue of $5.68 billion during the quarter, compared to the consensus estimate of $5.57 billion. During the same quarter in the prior year, the firm earned $9.66 EPS. The company’s revenue was up 22.6% compared to the same quarter last year. Equities research analysts predict that BlackRock, Inc. will post 43.02 earnings per share for the current fiscal year.

BlackRock Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, December 23rd. Shareholders of record on Thursday, December 5th were paid a $5.10 dividend. The ex-dividend date was Thursday, December 5th. This represents a $20.40 dividend on an annualized basis and a yield of 2.03%. BlackRock’s dividend payout ratio (DPR) is currently 50.35%.

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.