Silicon Valley Capital Partners Sells 55,892 Shares of Blackstone Inc. (NYSE:BX)

Silicon Valley Capital Partners lowered its stake in shares of Blackstone Inc. (NYSE:BX) by 97.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,662 shares of the asset manager’s stock after selling 55,892 shares during the period. Silicon Valley Capital Partners’ holdings in Blackstone were worth $286,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in BX. Comprehensive Financial Planning Inc. PA acquired a new stake in shares of Blackstone during the fourth quarter worth about $34,000. Harbour Trust & Investment Management Co raised its position in Blackstone by 3.2% in the 4th quarter. Harbour Trust & Investment Management Co now owns 62,146 shares of the asset manager’s stock valued at $10,715,000 after buying an additional 1,920 shares during the last quarter. Angeles Wealth Management LLC raised its position in Blackstone by 1.2% in the 4th quarter. Angeles Wealth Management LLC now owns 11,743 shares of the asset manager’s stock valued at $2,025,000 after buying an additional 143 shares during the last quarter. Focused Wealth Management Inc raised its position in Blackstone by 0.4% in the 4th quarter. Focused Wealth Management Inc now owns 49,143 shares of the asset manager’s stock valued at $8,473,000 after buying an additional 201 shares during the last quarter. Finally, Newbridge Financial Services Group Inc. raised its position in Blackstone by 2.4% in the 4th quarter. Newbridge Financial Services Group Inc. now owns 2,723 shares of the asset manager’s stock valued at $469,000 after buying an additional 65 shares during the last quarter. Institutional investors own 70.00% of the company’s stock.

Wall Street Analyst Weigh In

BX has been the topic of a number of recent research reports. Evercore ISI lifted their target price on Blackstone from $148.00 to $155.00 and gave the company an “outperform” rating in a research report on Monday, October 14th. Keefe, Bruyette & Woods boosted their price target on Blackstone from $174.00 to $177.00 and gave the stock a “market perform” rating in a research report on Friday, January 31st. Bank of America boosted their price target on Blackstone from $171.00 to $192.00 and gave the stock a “buy” rating in a research report on Friday, October 18th. TD Cowen raised Blackstone from a “hold” rating to a “buy” rating and boosted their price target for the stock from $149.00 to $230.00 in a research report on Monday, December 9th. Finally, The Goldman Sachs Group boosted their price target on Blackstone from $135.00 to $150.00 and gave the stock a “neutral” rating in a research report on Friday, October 18th. Thirteen analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $172.38.

Blackstone Stock Performance

BX opened at $170.11 on Monday. The business has a fifty day simple moving average of $178.36 and a 200 day simple moving average of $163.62. The company has a market capitalization of $122.82 billion, a PE ratio of 46.86, a price-to-earnings-growth ratio of 1.13 and a beta of 1.53. Blackstone Inc. has a 1 year low of $115.82 and a 1 year high of $200.96. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.67 and a quick ratio of 0.71.

Blackstone (NYSE:BX) last released its quarterly earnings results on Thursday, January 30th. The asset manager reported $1.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.50 by $0.19. Blackstone had a return on equity of 19.58% and a net margin of 20.99%. Research analysts expect that Blackstone Inc. will post 5.88 EPS for the current year.

Blackstone Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, February 18th. Stockholders of record on Monday, February 10th will be given a dividend of $1.44 per share. This represents a $5.76 dividend on an annualized basis and a dividend yield of 3.39%. This is an increase from Blackstone’s previous quarterly dividend of $0.86. The ex-dividend date of this dividend is Monday, February 10th. Blackstone’s dividend payout ratio is presently 94.77%.

About Blackstone

Blackstone Inc is an alternative asset management firm specializing in real estate, private equity, hedge fund solutions, credit, secondary funds of funds, public debt and equity and multi-asset class strategies. The firm typically invests in early-stage companies. It also provide capital markets services.