BlackRock, Inc. (NYSE:BLK) Shares Bought by Avitas Wealth Management LLC

by · The Markets Daily

Avitas Wealth Management LLC raised its position in shares of BlackRock, Inc. (NYSE:BLK – Free Report) by 31.1% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,839 shares of the asset manager’s stock after acquiring an additional 674 shares during the quarter. Avitas Wealth Management LLC’s holdings in BlackRock were worth $2,696,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Marino Stram & Associates LLC grew its holdings in BlackRock by 0.3% during the 3rd quarter. Marino Stram & Associates LLC now owns 3,399 shares of the asset manager’s stock worth $3,227,000 after acquiring an additional 10 shares in the last quarter. Onyx Bridge Wealth Group LLC grew its stake in shares of BlackRock by 3.5% during the third quarter. Onyx Bridge Wealth Group LLC now owns 328 shares of the asset manager’s stock worth $312,000 after purchasing an additional 11 shares in the last quarter. Ballentine Partners LLC increased its holdings in BlackRock by 0.3% in the third quarter. Ballentine Partners LLC now owns 3,424 shares of the asset manager’s stock valued at $3,251,000 after buying an additional 11 shares during the last quarter. XML Financial LLC lifted its holdings in BlackRock by 2.6% during the 2nd quarter. XML Financial LLC now owns 473 shares of the asset manager’s stock worth $372,000 after buying an additional 12 shares during the last quarter. Finally, Pine Haven Investment Counsel Inc boosted its position in shares of BlackRock by 1.3% during the 3rd quarter. Pine Haven Investment Counsel Inc now owns 937 shares of the asset manager’s stock worth $890,000 after acquiring an additional 12 shares in the last quarter. Hedge funds and other institutional investors own 80.69% of the company’s stock.

Insider Buying and Selling

In other BlackRock news, Director Mark Wiedman sold 12,000 shares of BlackRock stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $900.00, for a total value of $10,800,000.00. Following the sale, the director now owns 6,480 shares of the company’s stock, valued at approximately $5,832,000. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other BlackRock news, Director Mark Wiedman sold 12,000 shares of the business’s stock in a transaction on 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 sale, the director now directly owns 6,480 shares in the company, valued at approximately $5,832,000. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Pamela Daley sold 1,531 shares of the stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $842.08, for a total transaction of $1,289,224.48. Following the completion of the transaction, the director now owns 5,732 shares of the company’s stock, valued at $4,826,802.56. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 66,042 shares of company stock valued at $56,857,777 over the last ninety days. Corporate insiders own 0.90% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently weighed in on BLK. Evercore ISI raised their target price on BlackRock from $995.00 to $1,040.00 and gave the stock an “outperform” rating in a research report on Monday, October 14th. Citigroup raised their price objective on shares of BlackRock from $920.00 to $930.00 and gave the stock a “buy” rating in a report on Tuesday, July 16th. Morgan Stanley upped their target price on shares of BlackRock from $1,150.00 to $1,245.00 and gave the company an “overweight” rating in a report on Monday, October 14th. JPMorgan Chase & Co. lifted their price target on shares of BlackRock from $864.00 to $914.00 and gave the stock a “neutral” rating in a research note on Monday, October 21st. Finally, TD Cowen upped their price objective on shares of BlackRock from $960.00 to $1,077.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. Three research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $995.31.

Read Our Latest Stock Analysis on BlackRock

BlackRock Stock Down 0.3 %

BlackRock stock opened at $983.40 on Wednesday. The stock has a 50 day moving average of $933.29 and a two-hundred day moving average of $847.45. BlackRock, Inc. has a twelve month low of $600.26 and a twelve month high of $1,032.00. The stock has a market capitalization of $146.13 billion, a price-to-earnings ratio of 24.99, a PEG ratio of 1.94 and a beta of 1.30. The company has a current ratio of 5.06, a quick ratio of 5.06 and a debt-to-equity ratio of 0.37.

BlackRock (NYSE:BLK – Get Free Report) last announced its quarterly earnings data on Friday, October 11th. The asset manager reported $11.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $10.42 by $1.04. BlackRock had a net margin of 32.36% and a return on equity of 15.44%. The company had revenue of $5.20 billion for the quarter, compared to analysts’ expectations of $5.03 billion. During the same period in the previous year, the company posted $10.91 EPS. BlackRock’s revenue was up 14.9% compared to the same quarter last year. As a group, research analysts expect that BlackRock, Inc. will post 41.73 earnings per share for the current year.

BlackRock Company Profile

(Free Report)

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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