Cypress Wealth Services LLC Sells 67 Shares of BlackRock, Inc. (NYSE:BLK)

Cypress Wealth Services LLC reduced its position in shares of BlackRock, Inc. (NYSE:BLK) by 6.7% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 937 shares of the asset manager’s stock after selling 67 shares during the quarter. Cypress Wealth Services LLC’s holdings in BlackRock were worth $887,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently added to or reduced their stakes in the company. IAG Wealth Partners LLC acquired a new position in BlackRock in the fourth quarter valued at approximately $26,000. Investment Management Corp VA ADV acquired a new position in shares of BlackRock in the 4th quarter valued at $30,000. Collier Financial bought a new position in shares of BlackRock in the 4th quarter worth $32,000. Compass Planning Associates Inc bought a new stake in BlackRock in the fourth quarter valued at about $33,000. Finally, Synergy Investment Management LLC acquired a new position in BlackRock in the fourth quarter valued at about $40,000. 80.69% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. JPMorgan Chase & Co. lowered their price target on BlackRock from $1,046.00 to $988.00 and set a “neutral” rating for the company in a research note on Monday, April 14th. Citigroup reduced their price target on shares of BlackRock from $1,200.00 to $1,100.00 and set a “buy” rating on the stock in a research report on Monday, April 14th. Wall Street Zen raised shares of BlackRock to a “hold” rating in a report on Saturday, May 24th. Wells Fargo & Company raised their price objective on BlackRock from $1,035.00 to $1,105.00 and gave the stock an “overweight” rating in a research note on Wednesday. Finally, Bank of America decreased their target price on BlackRock from $1,196.00 to $1,178.00 and set a “buy” rating for the company in a research note on Thursday, April 3rd. Three equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $1,082.46.

Insider Transactions at BlackRock

In other BlackRock news, Director J. Richard Kushel sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, April 24th. The shares were sold at an average price of $912.50, for a total value of $9,125,000.00. Following the sale, the director now owns 66,034 shares in the company, valued at $60,256,025. This trade represents a 13.15% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Company insiders own 1.98% of the company’s stock.

BlackRock Price Performance

NYSE:BLK opened at $988.88 on Thursday. BlackRock, Inc. has a 52 week low of $752.30 and a 52 week high of $1,084.22. The company has a debt-to-equity ratio of 0.45, a quick ratio of 5.23 and a current ratio of 5.23. The firm’s 50-day simple moving average is $923.63 and its 200 day simple moving average is $974.25. The firm has a market cap of $153.20 billion, a price-to-earnings ratio of 23.54, a P/E/G ratio of 1.90 and a beta of 1.41.

BlackRock (NYSE:BLK) last posted its quarterly earnings data on Friday, April 11th. The asset manager reported $11.30 EPS for the quarter, topping analysts’ consensus estimates of $10.84 by $0.46. BlackRock had a return on equity of 16.32% and a net margin of 31.21%. The firm had revenue of $5.28 billion for the quarter, compared to analyst estimates of $5.47 billion. During the same quarter last year, the company earned $9.81 EPS. The company’s revenue was up 11.6% on a year-over-year basis. As a group, sell-side analysts predict that BlackRock, Inc. will post 47.41 earnings per share for the current year.

BlackRock Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 23rd. Shareholders of record on Thursday, June 5th will be paid a dividend of $5.21 per share. This represents a $20.84 annualized dividend and a yield of 2.11%. The ex-dividend date of this dividend is Thursday, June 5th. BlackRock’s payout ratio is 50.63%.

BlackRock Company 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.