Walkner Condon Financial Advisors LLC Acquires New Shares in BlackRock $BLK

Walkner Condon Financial Advisors LLC acquired a new position in shares of BlackRock (NYSE:BLK) in the second quarter, HoldingsChannel.com reports. The firm acquired 235 shares of the asset manager’s stock, valued at approximately $247,000.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Princeton Capital Management LLC increased its holdings in shares of BlackRock by 6.6% in the 2nd quarter. Princeton Capital Management LLC now owns 226 shares of the asset manager’s stock worth $237,000 after acquiring an additional 14 shares during the period. Bryn Mawr Trust Advisors LLC boosted its stake in BlackRock by 6.5% during the 2nd quarter. Bryn Mawr Trust Advisors LLC now owns 11,466 shares of the asset manager’s stock valued at $12,031,000 after purchasing an additional 701 shares during the period. Maltin Wealth Management Inc. bought a new position in BlackRock in the 2nd quarter worth about $214,000. Pekin Hardy Strauss Inc. increased its stake in shares of BlackRock by 5.8% in the second quarter. Pekin Hardy Strauss Inc. now owns 2,284 shares of the asset manager’s stock valued at $2,396,000 after purchasing an additional 125 shares during the period. Finally, Texas Yale Capital Corp. acquired a new stake in shares of BlackRock in the second quarter valued at approximately $4,542,000. 80.69% of the stock is currently owned by institutional investors.

Insider Buying and Selling at BlackRock

In other news, Director Rachel Lord sold 12,000 shares of BlackRock 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 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 sale was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 1.98% of the company’s stock.

Wall Street Analysts Forecast Growth

BLK has been the subject of several analyst reports. The Goldman Sachs Group boosted their price objective on BlackRock from $1,163.00 to $1,312.00 and gave the stock a “buy” rating in a research report on Friday, October 3rd. Barclays boosted their price target on BlackRock from $1,310.00 to $1,360.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 15th. UBS Group reissued a “hold” rating on shares of BlackRock in a research note on Tuesday, October 21st. Citigroup lifted their price objective on shares of BlackRock from $1,200.00 to $1,350.00 and gave the company a “buy” rating in a research note on Monday, September 29th. Finally, Morgan Stanley upped their price objective on shares of BlackRock from $1,362.00 to $1,486.00 and gave the stock an “overweight” rating in a report on Wednesday, October 15th. Seventeen equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $1,299.29.

BlackRock Stock Up 1.1%

BLK opened at $1,081.66 on Friday. The company has a debt-to-equity ratio of 0.39, a quick ratio of 4.04 and a current ratio of 4.04. The company has a market capitalization of $167.50 billion, a PE ratio of 27.81, a P/E/G ratio of 1.90 and a beta of 1.48. The stock’s fifty day moving average is $1,130.62 and its 200-day moving average is $1,068.02. BlackRock has a one year low of $773.74 and a one year high of $1,219.94.

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

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.