Global Wealth Strategies & Associates Has $69,000 Stock Holdings in BlackRock $BLK

Global Wealth Strategies & Associates decreased its position in BlackRock (NYSE:BLK) by 16.5% during the 2nd quarter, Holdings Channel.com reports. The fund owned 66 shares of the asset manager’s stock after selling 13 shares during the quarter. Global Wealth Strategies & Associates’ holdings in BlackRock were worth $69,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in BLK. Fairway Wealth LLC boosted its holdings in BlackRock by 76.5% in the first quarter. Fairway Wealth LLC now owns 30 shares of the asset manager’s stock valued at $28,000 after acquiring an additional 13 shares during the last quarter. Game Plan Financial Advisors LLC boosted its holdings in BlackRock by 100.0% in the first quarter. Game Plan Financial Advisors LLC now owns 30 shares of the asset manager’s stock valued at $28,000 after acquiring an additional 15 shares during the last quarter. Garde Capital Inc. boosted its holdings in BlackRock by 200.0% during the second quarter. Garde Capital Inc. now owns 27 shares of the asset manager’s stock worth $28,000 after buying an additional 18 shares during the last quarter. Investment Management Corp VA ADV bought a new position in BlackRock during the fourth quarter worth about $30,000. Finally, Cheviot Value Management LLC bought a new position in BlackRock during the first quarter worth about $30,000. Institutional investors own 80.69% of the company’s stock.

Insider Transactions at BlackRock

In other news, Director Rachel Lord sold 18,036 shares of the stock in a transaction that occurred on Friday, July 25th. The stock was sold at an average price of $1,125.60, for a total transaction of $20,301,321.60. Following the transaction, the director owned 19,205 shares in the company, valued at approximately $21,617,148. This trade represents a 48.43% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director J. Richard Kushel sold 17,142 shares of the firm’s stock in a transaction on Wednesday, July 30th. The stock was sold at an average price of $1,120.50, for a total value of $19,207,611.00. Following the transaction, the director owned 61,369 shares in the company, valued at approximately $68,763,964.50. This trade represents a 21.83% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 66,494 shares of company stock worth $74,694,573 in the last ninety days. 1.98% of the stock is currently owned by company insiders.

BlackRock Stock Performance

BLK opened at $1,124.34 on Friday. BlackRock has a 12-month low of $773.74 and a 12-month high of $1,171.89. The stock has a market cap of $174.10 billion, a price-to-earnings ratio of 27.18, a PEG ratio of 2.17 and a beta of 1.45. The business has a 50 day moving average of $1,115.88 and a 200-day moving average of $1,007.38. The company has a quick ratio of 4.04, a current ratio of 4.04 and a debt-to-equity ratio of 0.39.

BlackRock (NYSE:BLK) last released its quarterly earnings data on Tuesday, July 15th. The asset manager reported $12.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $10.41 by $1.64. The company had revenue of $5.42 billion during the quarter, compared to analysts’ expectations of $5.40 billion. BlackRock had a return on equity of 15.53% and a net margin of 29.68%.The business’s revenue was up 12.9% on a year-over-year basis. During the same period last year, the firm posted $10.36 earnings per share. On average, equities research analysts expect that BlackRock will post 47.41 earnings per share for the current year.

BlackRock Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 23rd. Stockholders of record on Friday, September 5th will be paid a dividend of $5.21 per share. The ex-dividend date is Friday, September 5th. This represents a $20.84 dividend on an annualized basis and a dividend yield of 1.9%. BlackRock’s dividend payout ratio (DPR) is 50.39%.

Wall Street Analyst Weigh In

BLK has been the topic of a number of recent analyst reports. Wells Fargo & Company reduced their target price on BlackRock from $1,180.00 to $1,170.00 and set an “overweight” rating on the stock in a report on Wednesday, July 16th. Wall Street Zen raised shares of BlackRock to a “hold” rating in a research report on Saturday, May 24th. Jefferies Financial Group lifted their target price on BlackRock from $959.00 to $1,210.00 in a research report on Thursday, July 10th. Barclays increased their price target on BlackRock from $990.00 to $1,220.00 and gave the company an “overweight” rating in a research report on Thursday, July 10th. Finally, Zacks Research cut BlackRock from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 14th. Twelve research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $1,154.07.

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.