BlackRock, Inc. (NYSE:BLK) Stock Holdings Reduced by Oak Harvest Investment Services

Oak Harvest Investment Services lowered its holdings in shares of BlackRock, Inc. (NYSE:BLK) by 89.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,250 shares of the asset manager’s stock after selling 10,187 shares during the quarter. Oak Harvest Investment Services’ holdings in BlackRock were worth $1,281,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. State Street Corp lifted its stake in shares of BlackRock by 0.7% in the third quarter. State Street Corp now owns 5,983,583 shares of the asset manager’s stock worth $5,681,472,000 after buying an additional 42,757 shares during the last quarter. Geode Capital Management LLC increased its position in shares of BlackRock by 1.1% during the third quarter. Geode Capital Management LLC now owns 2,816,577 shares of the asset manager’s stock valued at $2,663,330,000 after purchasing an additional 30,182 shares during the period. FMR LLC raised its stake in shares of BlackRock by 10.6% in the 3rd quarter. FMR LLC now owns 2,363,965 shares of the asset manager’s stock valued at $2,244,608,000 after buying an additional 226,135 shares in the last quarter. Fisher Asset Management LLC lifted its stake in BlackRock by 1.9% during the third quarter. Fisher Asset Management LLC now owns 2,192,247 shares of the asset manager’s stock worth $2,081,561,000 after purchasing an additional 40,865 shares during the period. Finally, Pathway Financial Advisers LLC raised its stake in BlackRock by 89,389.4% during the third quarter. Pathway Financial Advisers LLC now owns 1,046,131 shares of the asset manager’s stock worth $993,312,000 after acquiring an additional 1,044,962 shares in the last quarter. Institutional investors and hedge funds own 80.69% of the company’s stock.

BlackRock Stock Performance

Shares of BLK stock opened at $1,070.81 on Friday. BlackRock, Inc. has a 52 week low of $745.55 and a 52 week high of $1,082.45. The company has a 50-day simple moving average of $1,024.87 and a 200 day simple moving average of $959.65. The company has a debt-to-equity ratio of 0.45, a quick ratio of 5.23 and a current ratio of 5.23. The company has a market capitalization of $165.85 billion, a price-to-earnings ratio of 25.50, a PEG ratio of 1.82 and a beta of 1.28.

BlackRock (NYSE:BLK) last released its quarterly earnings results on Wednesday, January 15th. The asset manager reported $11.93 EPS for the quarter, beating the consensus estimate of $11.52 by $0.41. BlackRock had a net margin of 31.21% and a return on equity of 16.32%. The business had revenue of $5.68 billion for the quarter, compared to the consensus estimate of $5.57 billion. During the same period in the prior year, the company posted $9.66 earnings per share. BlackRock’s revenue was up 22.6% compared to the same quarter last year. On average, sell-side analysts predict that BlackRock, Inc. will post 47.43 earnings per share for the current year.

BlackRock Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 24th. Investors of record on Friday, March 7th will be given a dividend of $5.21 per share. This is an increase from BlackRock’s previous quarterly dividend of $5.10. This represents a $20.84 annualized dividend and a dividend yield of 1.95%. The ex-dividend date of this dividend is Friday, March 7th. BlackRock’s dividend payout ratio is currently 48.57%.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. Deutsche Bank Aktiengesellschaft boosted their price target on shares of BlackRock from $1,215.00 to $1,275.00 and gave the company a “buy” rating in a research report on Thursday, January 16th. Wells Fargo & Company lifted their price objective on BlackRock from $1,155.00 to $1,175.00 and gave the stock an “overweight” rating in a research report on Thursday, January 16th. UBS Group increased their price target on BlackRock from $1,017.00 to $1,045.00 and gave the company a “neutral” rating in a research note on Tuesday, January 21st. TD Cowen lifted their price objective on shares of BlackRock from $960.00 to $1,077.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. Finally, JPMorgan Chase & Co. raised their price target on BlackRock from $914.00 to $971.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 14th. Three analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $1,120.67.

Insider Activity

In other news, Director Mark Wiedman sold 36,190 shares of the company’s stock in a transaction on Friday, December 6th. The shares were sold at an average price of $1,045.90, for a total value of $37,851,121.00. Following the sale, the director now directly owns 6,480 shares of the company’s stock, valued at approximately $6,777,432. This represents a 84.81 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, COO Robert L. Goldstein sold 54,000 shares of the business’s 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 completion of the transaction, the chief operating officer now owns 41,916 shares in the company, valued at approximately $43,845,393.48. The trade was a 56.30 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 100,190 shares of company stock worth $104,436,741. Corporate insiders own 0.90% of the company’s stock.

About BlackRock

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.