Olistico Wealth LLC Makes New Investment in BlackRock, Inc. (NYSE:BLK)

Olistico Wealth LLC acquired a new position in BlackRock, Inc. (NYSE:BLK) during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund acquired 68 shares of the asset manager’s stock, valued at approximately $53,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Redmont Wealth Advisors LLC acquired a new stake in BlackRock during the 1st quarter worth about $27,000. Tennessee Valley Asset Management Partners purchased a new stake in shares of BlackRock in the 4th quarter valued at approximately $27,000. Private Wealth Management Group LLC acquired a new position in BlackRock in the 4th quarter worth approximately $28,000. Pineridge Advisors LLC purchased a new position in BlackRock during the 4th quarter worth approximately $28,000. Finally, Northwest Financial Advisors acquired a new stake in BlackRock during the 4th quarter valued at $32,000. 80.69% of the stock is currently owned by institutional investors.

Insider Transactions at BlackRock

In related news, Director Pamela Daley sold 1,531 shares of the stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $842.08, for a total transaction of $1,289,224.48. Following the completion of the sale, the director now directly owns 5,732 shares of the company’s stock, valued at approximately $4,826,802.56. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other BlackRock news, Director Pamela Daley sold 1,531 shares of BlackRock stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $842.08, for a total value of $1,289,224.48. Following the sale, the director now owns 5,732 shares of the company’s stock, valued at approximately $4,826,802.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Mark Wiedman sold 27,000 shares of the company’s stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $834.42, for a total value of $22,529,340.00. Following the transaction, the director now directly owns 6,480 shares of the company’s stock, valued at $5,407,041.60. The disclosure for this sale can be found here. Insiders have sold a total of 68,509 shares of company stock valued at $55,981,794 over the last 90 days. 0.90% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on BLK. Citigroup lifted their price target on BlackRock from $920.00 to $930.00 and gave the company a “buy” rating in a report on Tuesday, July 16th. Morgan Stanley reduced their price target on shares of BlackRock from $1,025.00 to $1,013.00 and set an “overweight” rating for the company in a research report on Thursday, July 11th. Argus boosted their price objective on shares of BlackRock from $880.00 to $910.00 and gave the company a “buy” rating in a research report on Tuesday, July 16th. Keefe, Bruyette & Woods upped their price objective on shares of BlackRock from $915.00 to $934.00 and gave the company an “outperform” rating in a research note on Tuesday, July 16th. Finally, Deutsche Bank Aktiengesellschaft decreased their target price on shares of BlackRock from $924.00 to $912.00 and set a “buy” rating for the company in a research note on Tuesday, July 16th. Three research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, BlackRock currently has an average rating of “Moderate Buy” and a consensus price target of $872.29.

BlackRock Trading Down 0.1 %

Shares of BlackRock stock traded down $1.12 on Wednesday, hitting $839.84. 720,071 shares of the company’s stock traded hands, compared to its average volume of 610,891. The company has a debt-to-equity ratio of 0.35, a current ratio of 5.32 and a quick ratio of 5.32. The stock has a market capitalization of $124.80 billion, a PE ratio of 21.76, a price-to-earnings-growth ratio of 1.92 and a beta of 1.32. The firm’s 50-day moving average price is $805.15 and its two-hundred day moving average price is $798.65. BlackRock, Inc. has a one year low of $596.18 and a one year high of $885.10.

BlackRock (NYSE:BLK) last posted its earnings results 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 15.53%. The company had revenue of $4.81 billion for the quarter, compared to analyst estimates of $4.85 billion. During the same period last year, the business posted $9.28 earnings per share. The business’s revenue for the quarter was up 7.7% compared to the same quarter last year. On average, research analysts expect that BlackRock, Inc. will post 41.23 EPS for the current fiscal year.

BlackRock Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 23rd. Shareholders of record on Monday, September 9th will be issued a $5.10 dividend. The ex-dividend date of this dividend is Monday, September 9th. This represents a $20.40 annualized dividend and a dividend yield of 2.43%. BlackRock’s dividend payout ratio (DPR) is currently 51.84%.

BlackRock Company 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.