BlackRock, Inc. (NYSE:BLK) Shares Sold by Foster Dykema Cabot & Partners LLC

Foster Dykema Cabot & Partners LLC lessened its position in shares of BlackRock, Inc. (NYSE:BLK) by 31.1% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 754 shares of the asset manager’s stock after selling 340 shares during the quarter. Foster Dykema Cabot & Partners LLC’s holdings in BlackRock were worth $773,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. IAG Wealth Partners LLC purchased a new position in BlackRock during the fourth quarter worth approximately $26,000. Collier Financial acquired a new position in shares of BlackRock during the 4th quarter worth approximately $32,000. Compass Planning Associates Inc purchased a new position in shares of BlackRock during the 4th quarter valued at approximately $33,000. Atwood & Palmer Inc. acquired a new stake in BlackRock in the 4th quarter valued at $36,000. Finally, West Financial Advisors LLC purchased a new stake in BlackRock in the 4th quarter worth $39,000. Hedge funds and other institutional investors own 80.69% of the company’s stock.

BlackRock Stock Down 2.5 %

Shares of NYSE BLK opened at $866.65 on Thursday. The company has a market capitalization of $134.55 billion, a P/E ratio of 20.63, a P/E/G ratio of 1.90 and a beta of 1.38. BlackRock, Inc. has a 1 year low of $745.55 and a 1 year high of $1,084.22. The company has a debt-to-equity ratio of 0.45, a current ratio of 5.23 and a quick ratio of 5.23. The company has a 50 day simple moving average of $934.74 and a 200-day simple moving average of $986.36.

BlackRock (NYSE:BLK) last announced its quarterly earnings results on Friday, April 11th. The asset manager reported $11.30 EPS for the quarter, beating the consensus estimate of $10.84 by $0.46. The business had revenue of $5.28 billion for the quarter, compared to analyst estimates of $5.47 billion. BlackRock had a return on equity of 16.32% and a net margin of 31.21%. The company’s quarterly revenue was up 11.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $9.81 EPS. On average, equities research analysts predict that BlackRock, Inc. will post 47.41 earnings per share for the current year.

BlackRock Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 24th. Shareholders of record on Friday, March 7th were given a dividend of $5.21 per share. The ex-dividend date of this dividend was Friday, March 7th. This is a boost from BlackRock’s previous quarterly dividend of $5.10. This represents a $20.84 dividend on an annualized basis and a dividend yield of 2.40%. BlackRock’s dividend payout ratio (DPR) is currently 50.63%.

Analysts Set New Price Targets

Several brokerages have recently issued reports on BLK. UBS Group dropped their target price on shares of BlackRock from $1,045.00 to $1,010.00 and set a “neutral” rating on the stock in a research report on Friday, April 11th. Bank of America lowered their price objective on BlackRock from $1,196.00 to $1,178.00 and set a “buy” rating on the stock in a report on Thursday, April 3rd. Citigroup reduced their target price on BlackRock from $1,200.00 to $1,100.00 and set a “buy” rating for the company in a report on Monday. Barclays lifted their price target on BlackRock from $950.00 to $990.00 and gave the stock an “overweight” rating in a research note on Monday. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on BlackRock from $1,215.00 to $1,275.00 and gave the company a “buy” rating in a research note on Thursday, January 16th. Three analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, BlackRock presently has an average rating of “Moderate Buy” and an average price target of $1,077.08.

Insider Activity

In related news, Director J. Richard Kushel sold 10,000 shares of BlackRock stock in a transaction that occurred on Thursday, January 30th. The shares were sold at an average price of $1,072.64, for a total value of $10,726,400.00. Following the completion of the sale, the director now owns 68,433 shares in the company, valued at approximately $73,403,973.12. This trade represents a 12.75 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In the last three months, insiders have sold 20,430 shares of company stock valued at $21,234,629. Company insiders own 0.90% of the company’s stock.

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.