Soltis Investment Advisors LLC Has $673,000 Position in BlackRock $BLK

Soltis Investment Advisors LLC lifted its holdings in BlackRock (NYSE:BLK) by 12.7% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 641 shares of the asset manager’s stock after acquiring an additional 72 shares during the period. Soltis Investment Advisors LLC’s holdings in BlackRock were worth $673,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also added to or reduced their stakes in the business. Game Plan Financial Advisors LLC boosted its holdings in shares of BlackRock by 100.0% during 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 in the last quarter. Garde Capital Inc. lifted its position in shares of BlackRock by 200.0% during the 2nd quarter. Garde Capital Inc. now owns 27 shares of the asset manager’s stock valued at $28,000 after acquiring an additional 18 shares during the period. Cheviot Value Management LLC bought a new position in BlackRock during the first quarter worth $30,000. Whipplewood Advisors LLC grew its holdings in BlackRock by 107.1% in the second quarter. Whipplewood Advisors LLC now owns 29 shares of the asset manager’s stock worth $30,000 after purchasing an additional 15 shares during the period. Finally, Creekmur Asset Management LLC increased its stake in BlackRock by 87.5% in the second quarter. Creekmur Asset Management LLC now owns 30 shares of the asset manager’s stock valued at $32,000 after purchasing an additional 14 shares in the last quarter. Institutional investors and hedge funds own 80.69% of the company’s stock.

BlackRock Stock Performance

Shares of BLK opened at $1,070.02 on Friday. The stock has a 50 day moving average of $1,131.56 and a 200 day moving average of $1,066.45. The company has a market capitalization of $165.70 billion, a price-to-earnings ratio of 27.51, a PEG ratio of 1.90 and a beta of 1.48. BlackRock has a 12 month low of $773.74 and a 12 month high of $1,219.94. The company has a current ratio of 4.04, a quick ratio of 4.04 and a debt-to-equity ratio of 0.39.

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 analysts’ consensus estimates of $11.78 by ($0.23). The business had revenue of $6.51 billion during 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 firm’s revenue for the quarter was up 25.2% compared to the same quarter last year. During the same quarter last year, the company earned $11.46 EPS. As a group, sell-side analysts forecast that BlackRock will post 47.41 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. TD Cowen boosted their target price on BlackRock from $1,301.00 to $1,407.00 and gave the company a “buy” rating in a research report on Wednesday, October 15th. Morgan Stanley upped their target price on BlackRock from $1,362.00 to $1,486.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 15th. BMO Capital Markets raised 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 note on Tuesday, October 21st. Deutsche Bank Aktiengesellschaft set a $1,320.00 target price on shares of BlackRock and gave the stock a “buy” rating in a research report on Wednesday, October 15th. Finally, UBS Group reiterated a “hold” rating on shares of BlackRock in a research note on Tuesday, October 21st. Seventeen equities research 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.com, the company presently has an average rating of “Moderate Buy” and an average price target of $1,299.29.

Insider Transactions at BlackRock

In other BlackRock news, Director Rachel Lord sold 12,000 shares of BlackRock stock in a transaction dated 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 sale, the director owned 7,205 shares of the company’s stock, valued at approximately $8,394,113.20. The trade was a 62.48% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 1.98% 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.