Goldenstone Wealth Management LLC Buys Shares of 503 BlackRock $BLK

Goldenstone Wealth Management LLC bought a new stake in BlackRock (NYSE:BLK) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund bought 503 shares of the asset manager’s stock, valued at approximately $538,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in BLK. Oak Harvest Investment Services grew its stake in BlackRock by 12,176.1% in the fourth quarter. Oak Harvest Investment Services now owns 1,595,153 shares of the asset manager’s stock valued at $1,707,356,000 after purchasing an additional 1,582,159 shares during the last quarter. Viking Global Investors LP boosted its holdings in BlackRock by 217.5% in the third quarter. Viking Global Investors LP now owns 619,492 shares of the asset manager’s stock worth $722,247,000 after acquiring an additional 424,388 shares in the last quarter. Parkside Financial Bank & Trust boosted its holdings in BlackRock by 29,043.2% in the third quarter. Parkside Financial Bank & Trust now owns 245,094 shares of the asset manager’s stock worth $285,748,000 after acquiring an additional 244,253 shares in the last quarter. Vanguard Group Inc. boosted its holdings in BlackRock by 1.6% in the fourth quarter. Vanguard Group Inc. now owns 14,062,677 shares of the asset manager’s stock worth $15,051,846,000 after acquiring an additional 221,123 shares in the last quarter. Finally, Amundi boosted its holdings in BlackRock by 39.5% in the third quarter. Amundi now owns 547,249 shares of the asset manager’s stock worth $645,354,000 after acquiring an additional 154,907 shares in the last quarter. Hedge funds and other institutional investors own 80.69% of the company’s stock.

BlackRock Trading Up 1.3%

BlackRock stock opened at $1,050.09 on Thursday. The company has a quick ratio of 4.09, a current ratio of 4.09 and a debt-to-equity ratio of 0.34. BlackRock has a 52 week low of $917.39 and a 52 week high of $1,219.94. The company has a market capitalization of $163.01 billion, a price-to-earnings ratio of 26.36, a price-to-earnings-growth ratio of 1.35 and a beta of 1.44. The stock has a 50-day moving average price of $1,013.75 and a 200 day moving average price of $1,054.00.

BlackRock (NYSE:BLK) last announced its quarterly earnings results on Tuesday, April 14th. The asset manager reported $12.53 earnings per share for the quarter, beating the consensus estimate of $12.40 by $0.13. The company had revenue of $6.70 billion during the quarter, compared to analysts’ expectations of $6.56 billion. BlackRock had a return on equity of 14.74% and a net margin of 24.40%.BlackRock’s quarterly revenue was up 27.0% on a year-over-year basis. During the same period last year, the business earned $9.64 earnings per share. Sell-side analysts anticipate that BlackRock will post 52.77 EPS for the current year.

BlackRock Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 23rd. Investors of record on Friday, June 5th will be given a dividend of $5.73 per share. This represents a $22.92 annualized dividend and a yield of 2.2%. The ex-dividend date is Friday, June 5th. BlackRock’s dividend payout ratio (DPR) is currently 57.53%.

Wall Street Analyst Weigh In

BLK has been the subject of several recent analyst reports. BMO Capital Markets raised their price target on BlackRock from $1,200.00 to $1,250.00 and gave the stock an “outperform” rating in a report on Monday, April 20th. UBS Group raised their price target on BlackRock from $1,235.00 to $1,270.00 and gave the stock a “buy” rating in a report on Wednesday, April 15th. TD Cowen lowered their price target on BlackRock from $1,238.00 to $1,105.00 and set a “hold” rating for the company in a report on Thursday, April 9th. Evercore reaffirmed an “outperform” rating and set a $1,220.00 target price on shares of BlackRock in a report on Wednesday, April 15th. Finally, CICC Research lifted their target price on BlackRock from $1,000.00 to $1,250.00 in a report on Tuesday, February 3rd. One investment analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $1,269.06.

Insider Buying and Selling

In related news, President Robert Kapito sold 8,739 shares of BlackRock stock in a transaction that occurred on Monday, April 27th. The stock was sold at an average price of $1,056.60, for a total transaction of $9,233,627.40. Following the completion of the transaction, the president directly owned 210,186 shares in the company, valued at approximately $222,082,527.60. This trade represents a 3.99% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director J. Richard Kushel sold 2,000 shares of BlackRock stock in a transaction that occurred on Tuesday, February 24th. The shares were sold at an average price of $1,083.05, for a total value of $2,166,100.00. Following the transaction, the director owned 61,980 shares of the company’s stock, valued at approximately $67,127,439. This represents a 3.13% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 45,249 shares of company stock valued at $47,671,714 in the last ninety days. Insiders own 1.92% of the company’s stock.

About BlackRock

BlackRock, Inc is a global investment management firm that provides a broad range of products and services to institutional, intermediary and individual investors. Its core activities include portfolio management across active and index strategies, exchange-traded funds (ETFs) under the iShares brand, fixed income, equity and multi-asset solutions, as well as alternatives such as private equity, real estate and infrastructure. The firm also offers cash management and liquidity solutions and retirement-focused products designed for defined contribution and defined benefit investors.

In addition to traditional investment management, BlackRock is known for its technology and risk management capabilities, most prominently its Aladdin platform, which combines portfolio management, trading and risk analytics and is used both internally and licensed to external clients.