Live Oak Private Wealth LLC Acquires 95 Shares of BlackRock $BLK

Live Oak Private Wealth LLC grew its holdings in BlackRock (NYSE:BLK) by 8.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,191 shares of the asset manager’s stock after purchasing an additional 95 shares during the period. Live Oak Private Wealth LLC’s holdings in BlackRock were worth $1,250,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Garde Capital Inc. raised its position in shares of BlackRock by 200.0% in the second quarter. Garde Capital Inc. now owns 27 shares of the asset manager’s stock valued at $28,000 after purchasing an additional 18 shares during the period. Whipplewood Advisors LLC raised its position in shares of BlackRock by 107.1% in the second quarter. Whipplewood Advisors LLC now owns 29 shares of the asset manager’s stock valued at $30,000 after purchasing an additional 15 shares during the period. Fairway Wealth LLC raised its position in shares of 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 purchasing an additional 13 shares during the period. Game Plan Financial Advisors LLC raised its position in shares of 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 purchasing an additional 15 shares during the period. Finally, Mid American Wealth Advisory Group Inc. purchased a new position in BlackRock during the second quarter valued at approximately $34,000. Institutional investors own 80.69% of the company’s stock.

BlackRock Price Performance

BLK stock opened at $1,098.88 on Thursday. The company has a debt-to-equity ratio of 0.39, a current ratio of 4.04 and a quick ratio of 4.04. BlackRock has a one year low of $773.74 and a one year high of $1,219.94. The stock has a market cap of $170.16 billion, a PE ratio of 28.26, a P/E/G ratio of 1.95 and a beta of 1.45. The firm has a 50 day simple moving average of $1,138.79 and a two-hundred day simple moving average of $1,059.55.

BlackRock (NYSE:BLK) last released its quarterly earnings results on Tuesday, October 14th. The asset manager reported $11.55 EPS for the quarter, missing analysts’ consensus estimates of $11.78 by ($0.23). BlackRock had a return on equity of 15.36% and a net margin of 26.64%.The company had revenue of $6.51 billion during the quarter, compared to analysts’ expectations of $6.22 billion. During the same period in the prior year, the firm earned $11.46 EPS. BlackRock’s quarterly revenue was up 25.2% on a year-over-year basis. On average, analysts predict that BlackRock will post 47.41 EPS for the current fiscal year.

Insider Buying and Selling

In other BlackRock news, Director Rachel Lord sold 12,000 shares of the business’s stock in a transaction that occurred on Monday, October 20th. The shares were sold at an average price of $1,165.04, for a total value of $13,980,480.00. Following the completion of the transaction, the director owned 7,205 shares of the company’s stock, valued at $8,394,113.20. The trade was a 62.48% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.98% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several brokerages recently commented on BLK. Wells Fargo & Company reduced their price objective on shares of BlackRock from $1,180.00 to $1,170.00 and set an “overweight” rating for the company in a research note on Wednesday, July 16th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of BlackRock in a research note on Wednesday, October 8th. BMO Capital Markets boosted their price objective on shares of BlackRock from $1,280.00 to $1,300.00 and gave the company an “outperform” rating in a research note on Tuesday, October 21st. Morgan Stanley boosted their price objective on shares of BlackRock from $1,362.00 to $1,486.00 and gave the company an “overweight” rating in a research note on Wednesday, October 15th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of BlackRock from $1,093.00 to $1,242.00 and gave the company a “neutral” rating in a research note on Thursday, October 2nd. Seventeen analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $1,299.29.

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.