Walkner Condon Financial Advisors LLC Makes New Investment in BlackRock $BLK

Walkner Condon Financial Advisors LLC bought a new stake in BlackRock (NYSE:BLK) in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 235 shares of the asset manager’s stock, valued at approximately $247,000.

Other hedge funds have also modified their holdings of the company. Game Plan Financial Advisors LLC raised its stake in shares of BlackRock by 100.0% during the first quarter. Game Plan Financial Advisors LLC now owns 30 shares of the asset manager’s stock valued at $28,000 after purchasing an additional 15 shares during the period. Garde Capital Inc. boosted its stake in shares of BlackRock by 200.0% in the second quarter. Garde Capital Inc. now owns 27 shares of the asset manager’s stock valued at $28,000 after purchasing an additional 18 shares during the period. Cheviot Value Management LLC acquired a new stake in BlackRock during the 1st quarter valued at $30,000. Whipplewood Advisors LLC increased its stake in BlackRock by 107.1% during the 2nd quarter. Whipplewood Advisors LLC now owns 29 shares of the asset manager’s stock worth $30,000 after buying an additional 15 shares during the period. Finally, Creekmur Asset Management LLC lifted its holdings in BlackRock by 87.5% in the 2nd quarter. Creekmur Asset Management LLC now owns 30 shares of the asset manager’s stock worth $32,000 after buying an additional 14 shares in the last quarter. 80.69% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have recently weighed in on BLK shares. Wells Fargo & Company lowered their target price on BlackRock from $1,180.00 to $1,170.00 and set an “overweight” rating for the company in a research note on Wednesday, July 16th. BMO Capital Markets increased their price target on BlackRock from $1,280.00 to $1,300.00 and gave the company an “outperform” rating in a report on Tuesday, October 21st. Bank of America lifted their price objective on BlackRock from $1,394.00 to $1,456.00 and gave the stock a “buy” rating in a report on Wednesday, October 15th. Loop Capital set a $1,255.00 target price on BlackRock in a research report on Tuesday, October 21st. Finally, The Goldman Sachs Group raised their price target on shares of BlackRock from $1,163.00 to $1,312.00 and gave the stock a “buy” rating in a research report on Friday, October 3rd. 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.com, BlackRock presently has a consensus rating of “Moderate Buy” and an average target price of $1,299.29.

Insider Activity

In other news, Director Rachel Lord sold 12,000 shares of the firm’s 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 transaction, the director directly owned 7,205 shares in the company, valued at approximately $8,394,113.20. This trade represents a 62.48% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 1.98% of the company’s stock.

BlackRock Trading Up 1.1%

NYSE:BLK opened at $1,081.66 on Friday. The company has a market cap 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 business’s 50 day moving average is $1,130.62 and its two-hundred day moving average is $1,068.02. The company has a quick ratio of 4.04, a current ratio of 4.04 and a debt-to-equity ratio of 0.39. BlackRock has a 52 week low of $773.74 and a 52 week high of $1,219.94.

BlackRock (NYSE:BLK) last posted its quarterly earnings results 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 firm had revenue of $6.51 billion for the quarter, compared to analyst estimates of $6.22 billion. BlackRock had a net margin of 26.64% and a return on equity of 15.36%. The business’s revenue was up 25.2% on a year-over-year basis. During the same period in the prior year, the company posted $11.46 earnings per share. On average, analysts predict that BlackRock will post 47.41 EPS for the current 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.