Marietta Wealth Management LLC Has $10.16 Million Stake in BlackRock $BLK

Marietta Wealth Management LLC increased its stake in shares of BlackRock (NYSE:BLK) by 3.2% during the second quarter, HoldingsChannel.com reports. The fund owned 9,681 shares of the asset manager’s stock after purchasing an additional 300 shares during the period. BlackRock makes up 1.3% of Marietta Wealth Management LLC’s holdings, making the stock its 25th largest position. Marietta Wealth Management LLC’s holdings in BlackRock were worth $10,158,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. McLean Asset Management Corp boosted its stake in BlackRock by 3.9% during the 2nd quarter. McLean Asset Management Corp now owns 266 shares of the asset manager’s stock valued at $285,000 after purchasing an additional 10 shares during the period. Trust Co. of Oklahoma boosted its stake in BlackRock by 0.5% during the 2nd quarter. Trust Co. of Oklahoma now owns 2,023 shares of the asset manager’s stock valued at $2,123,000 after purchasing an additional 10 shares during the period. TOWER TRUST & INVESTMENT Co boosted its stake in BlackRock by 1.3% during the 2nd quarter. TOWER TRUST & INVESTMENT Co now owns 799 shares of the asset manager’s stock valued at $838,000 after purchasing an additional 10 shares during the period. Ashton Thomas Securities LLC boosted its stake in BlackRock by 4.7% during the 2nd quarter. Ashton Thomas Securities LLC now owns 223 shares of the asset manager’s stock valued at $234,000 after purchasing an additional 10 shares during the period. Finally, Ameriflex Group Inc. boosted its stake in BlackRock by 8.8% during the 2nd quarter. Ameriflex Group Inc. now owns 123 shares of the asset manager’s stock valued at $127,000 after purchasing an additional 10 shares during the period. Institutional investors and hedge funds own 80.69% of the company’s stock.

Insiders Place Their Bets

In related news, 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 transaction of $19,207,611.00. Following the completion of the sale, the director directly owned 61,369 shares of the company’s stock, valued at $68,763,964.50. This trade represents a 21.83% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Rachel Lord sold 18,036 shares of the firm’s stock in a transaction 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 sale, the director directly owned 19,205 shares of the company’s stock, valued at $21,617,148. This represents a 48.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 66,494 shares of company stock valued at $74,694,573. Company insiders own 1.98% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. Zacks Research downgraded BlackRock from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 14th. Morgan Stanley reduced their price objective on BlackRock from $1,247.00 to $1,224.00 and set an “overweight” rating for the company in a research report on Wednesday, July 16th. JPMorgan Chase & Co. raised their price objective on BlackRock from $1,093.00 to $1,242.00 and gave the stock a “neutral” rating in a research report on Thursday. Keefe, Bruyette & Woods reduced their price objective on BlackRock from $1,247.00 to $1,224.00 and set an “outperform” rating for the company in a research report on Wednesday, July 16th. Finally, Citigroup raised their price objective on BlackRock from $1,200.00 to $1,350.00 and gave the stock a “buy” rating in a research report on Monday, September 29th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $1,213.67.

BlackRock Price Performance

BlackRock stock opened at $1,160.75 on Friday. The company has a debt-to-equity ratio of 0.39, a current ratio of 4.04 and a quick ratio of 4.04. The company has a market capitalization of $179.74 billion, a PE ratio of 28.06, a price-to-earnings-growth ratio of 2.22 and a beta of 1.45. BlackRock has a one year low of $773.74 and a one year high of $1,183.50. The business has a 50 day simple moving average of $1,129.67 and a 200 day simple moving average of $1,028.18.

BlackRock (NYSE:BLK) last posted its earnings results on Tuesday, July 15th. The asset manager reported $12.05 EPS for the quarter, topping the consensus estimate of $10.41 by $1.64. The business had revenue of $5.42 billion during the quarter, compared to the consensus estimate of $5.40 billion. BlackRock had a return on equity of 15.53% and a net margin of 29.68%.BlackRock’s revenue was up 12.9% on a year-over-year basis. During the same quarter last year, the company earned $10.36 EPS. On average, sell-side analysts forecast that BlackRock will post 47.41 EPS for the current fiscal year.

BlackRock Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 23rd. Investors of record on Friday, September 5th were given a dividend of $5.21 per share. This represents a $20.84 annualized dividend and a dividend yield of 1.8%. The ex-dividend date was Friday, September 5th. BlackRock’s dividend payout ratio (DPR) is 50.39%.

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.