BlackRock $BLK Stock Holdings Lessened by Welch & Forbes LLC

Welch & Forbes LLC reduced its holdings in BlackRock (NYSE:BLK) by 7.3% during the second quarter, HoldingsChannel reports. The institutional investor owned 1,761 shares of the asset manager’s stock after selling 138 shares during the period. Welch & Forbes LLC’s holdings in BlackRock were worth $1,848,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. Fairway Wealth LLC lifted its position in shares of BlackRock by 76.5% in the 1st quarter. Fairway Wealth LLC now owns 30 shares of the asset manager’s stock worth $28,000 after buying an additional 13 shares during the last quarter. Game Plan Financial Advisors LLC lifted its position in shares of BlackRock by 100.0% in the 1st quarter. Game Plan Financial Advisors LLC now owns 30 shares of the asset manager’s stock worth $28,000 after buying an additional 15 shares during the last quarter. Garde Capital Inc. lifted its position in shares of BlackRock by 200.0% in the 2nd quarter. Garde Capital Inc. now owns 27 shares of the asset manager’s stock worth $28,000 after buying an additional 18 shares during the last quarter. Cheviot Value Management LLC bought a new stake in BlackRock in the 1st quarter valued at about $30,000. Finally, Whipplewood Advisors LLC lifted its position in BlackRock by 107.1% in the 2nd 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 last quarter. 80.69% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts recently weighed in on BLK shares. Loop Capital set a $1,255.00 price objective on shares of BlackRock in a research report on Tuesday, October 21st. JPMorgan Chase & Co. lifted 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 report on Thursday, October 2nd. Keefe, Bruyette & Woods lifted their price objective on shares of BlackRock from $1,215.00 to $1,300.00 and gave the company an “outperform” rating in a research report on Monday, October 13th. Wells Fargo & Company cut their price objective on shares of BlackRock from $1,180.00 to $1,170.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 16th. Finally, BMO Capital Markets lifted 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 report on Tuesday, October 21st. Seventeen investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $1,299.29.

BlackRock Stock Performance

Shares of BLK opened at $1,081.62 on Monday. The firm’s 50 day moving average is $1,136.93 and its 200-day moving average is $1,063.71. The stock has a market capitalization of $167.49 billion, a P/E ratio of 27.81, a P/E/G ratio of 1.90 and a beta of 1.45. 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 12-month low of $773.74 and a 12-month high of $1,219.94.

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

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 directly owned 7,205 shares of the company’s stock, valued at $8,394,113.20. This trade represents a 62.48% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 1.98% of the stock is currently owned by company insiders.

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.