CMH Wealth Management LLC Sells 340 Shares of BlackRock $BLK

CMH Wealth Management LLC decreased its stake in BlackRock (NYSE:BLK) by 4.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 7,263 shares of the asset manager’s stock after selling 340 shares during the period. BlackRock comprises about 1.8% of CMH Wealth Management LLC’s investment portfolio, making the stock its 25th biggest position. CMH Wealth Management LLC’s holdings in BlackRock were worth $7,621,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in the stock. GAMMA Investing LLC boosted its stake in shares of BlackRock by 104,598.9% in the 1st quarter. GAMMA Investing LLC now owns 3,500,083 shares of the asset manager’s stock valued at $3,312,759,000 after purchasing an additional 3,496,740 shares in the last quarter. Royal Bank of Canada grew its holdings in shares of BlackRock by 73.2% during the 1st quarter. Royal Bank of Canada now owns 1,313,350 shares of the asset manager’s stock valued at $1,243,059,000 after purchasing an additional 555,098 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of BlackRock by 2.9% during the 1st quarter. Vanguard Group Inc. now owns 13,764,072 shares of the asset manager’s stock valued at $13,027,419,000 after purchasing an additional 387,466 shares during the last quarter. Goldman Sachs Group Inc. grew its holdings in shares of BlackRock by 32.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,131,919 shares of the asset manager’s stock valued at $1,071,339,000 after purchasing an additional 279,336 shares during the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH bought a new position in shares of BlackRock during the 4th quarter valued at $225,481,000. Institutional investors own 80.69% of the company’s stock.

BlackRock Stock Up 0.5%

NYSE:BLK opened at $1,142.76 on Friday. The firm has a market cap of $176.96 billion, a P/E ratio of 27.63, a P/E/G ratio of 2.18 and a beta of 1.45. The company has a debt-to-equity ratio of 0.39, a quick ratio of 4.04 and a current ratio of 4.04. BlackRock has a fifty-two week low of $773.74 and a fifty-two week high of $1,171.89. The firm has a 50-day simple moving average of $1,119.82 and a two-hundred day simple moving average of $1,012.87.

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

BlackRock Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 23rd. Shareholders of record on Friday, September 5th will be paid a dividend of $5.21 per share. This represents a $20.84 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date is Friday, September 5th. BlackRock’s dividend payout ratio (DPR) is currently 50.39%.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. Jefferies Financial Group increased their target price on shares of BlackRock from $959.00 to $1,210.00 in a report on Thursday, July 10th. Wall Street Zen raised shares of BlackRock to a “hold” rating in a research report on Saturday, May 24th. Bank of America increased their price target on shares of BlackRock from $1,214.00 to $1,224.00 and gave the company a “buy” rating in a research report on Wednesday, July 16th. JPMorgan Chase & Co. increased their price target on shares of BlackRock from $1,018.00 to $1,093.00 and gave the company a “neutral” rating in a research report on Wednesday, July 16th. Finally, Telsey Advisory Group reissued an “outperform” rating on shares of BlackRock in a research report on Tuesday, July 8th. Twelve investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, BlackRock currently has an average rating of “Moderate Buy” and an average price target of $1,154.07.

Insider Activity

In other news, Director Rachel Lord sold 18,036 shares of BlackRock stock in a transaction that occurred on Friday, July 25th. The shares were sold at an average price of $1,125.60, for a total value of $20,301,321.60. Following the completion of the sale, the director directly owned 19,205 shares in the company, valued at $21,617,148. The trade was a 48.43% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Fabrizio Freda sold 4,434 shares of BlackRock stock in a transaction that occurred on Thursday, July 24th. The stock was sold at an average price of $1,122.81, for a total transaction of $4,978,539.54. Following the completion of the sale, the director owned 3,506 shares of the company’s stock, valued at $3,936,571.86. This represents a 55.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 66,494 shares of company stock valued at $74,694,573 in the last quarter. 1.98% of the stock is owned by company insiders.

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.