Noesis Capital Mangement Corp Sells 124 Shares of BlackRock, Inc. (NYSE:BLK)

Noesis Capital Mangement Corp cut its holdings in BlackRock, Inc. (NYSE:BLK) by 8.0% during the 4th quarter, Holdings Channel reports. The fund owned 1,435 shares of the asset manager’s stock after selling 124 shares during the period. Noesis Capital Mangement Corp’s holdings in BlackRock were worth $1,165,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently modified their holdings of BLK. Tennessee Valley Asset Management Partners purchased a new position in BlackRock during the fourth quarter valued at $27,000. LFA Lugano Financial Advisors SA lifted its position in shares of BlackRock by 208.3% during the 4th quarter. LFA Lugano Financial Advisors SA now owns 37 shares of the asset manager’s stock valued at $30,000 after buying an additional 25 shares in the last quarter. Wetzel Investment Advisors Inc. bought a new position in shares of BlackRock during the 4th quarter valued at approximately $32,000. Knuff & Co LLC increased its holdings in BlackRock by 48.1% in the 4th quarter. Knuff & Co LLC now owns 40 shares of the asset manager’s stock worth $32,000 after acquiring an additional 13 shares in the last quarter. Finally, FSC Wealth Advisors LLC purchased a new position in BlackRock during the fourth quarter valued at approximately $40,000. Institutional investors own 80.69% of the company’s stock.

BlackRock Trading Up 0.9 %

BLK traded up $6.91 on Friday, hitting $763.91. The company had a trading volume of 558,283 shares, compared to its average volume of 689,289. The business’s fifty day simple moving average is $797.35 and its 200 day simple moving average is $764.35. The company has a quick ratio of 3.48, a current ratio of 3.48 and a debt-to-equity ratio of 0.32. BlackRock, Inc. has a 12-month low of $596.18 and a 12-month high of $845.00. The company has a market cap of $113.78 billion, a PE ratio of 19.41, a PEG ratio of 1.57 and a beta of 1.37.

BlackRock (NYSE:BLK) last released its quarterly earnings results on Friday, April 12th. The asset manager reported $9.81 earnings per share for the quarter, beating the consensus estimate of $9.42 by $0.39. The company had revenue of $4.73 billion for the quarter, compared to analyst estimates of $4.65 billion. BlackRock had a return on equity of 15.34% and a net margin of 32.26%. BlackRock’s quarterly revenue was up 11.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $7.93 EPS. Equities research analysts expect that BlackRock, Inc. will post 41.19 EPS for the current year.

Analysts Set New Price Targets

Several brokerages have recently commented on BLK. JPMorgan Chase & Co. raised their price objective on shares of BlackRock from $742.00 to $767.00 and gave the company a “neutral” rating in a research report on Tuesday, April 2nd. Morgan Stanley upped their price objective on BlackRock from $1,013.00 to $1,025.00 and gave the stock an “overweight” rating in a research note on Monday, April 15th. UBS Group lifted their target price on BlackRock from $818.00 to $850.00 and gave the company a “neutral” rating in a research note on Friday, April 12th. Keefe, Bruyette & Woods restated an “outperform” rating and issued a $930.00 price target (up from $918.00) on shares of BlackRock in a research note on Friday, April 5th. Finally, TD Cowen upgraded shares of BlackRock from a “market perform” rating to an “outperform” rating and lifted their price objective for the company from $819.00 to $938.00 in a research report on Tuesday, January 16th. Three research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $845.42.

Insider Buying and Selling

In related news, CEO Laurence Fink sold 30,978 shares of the firm’s stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $809.92, for a total transaction of $25,089,701.76. Following the completion of the sale, the chief executive officer now directly owns 414,146 shares of the company’s stock, valued at approximately $335,425,128.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other BlackRock news, CEO Laurence Fink sold 30,978 shares of the business’s stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $809.92, for a total value of $25,089,701.76. Following the completion of the sale, the chief executive officer now directly owns 414,146 shares of the company’s stock, valued at approximately $335,425,128.32. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Rachel Lord sold 36,059 shares of the firm’s stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $818.06, for a total transaction of $29,498,425.54. Following the transaction, the director now directly owns 17,004 shares in the company, valued at $13,910,292.24. The disclosure for this sale can be found here. In the last ninety days, insiders sold 72,057 shares of company stock valued at $58,575,704. Company insiders own 0.90% of the company’s stock.

About BlackRock

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.