Community Bank & Trust Waco Texas Invests $2.08 Million in BlackRock $BLK
Community Bank & Trust Waco Texas has invested $2.08 million in BlackRock (NYSE:BLK) by purchasing 2,194 shares during the first quarter, as reported in their Form 13F filing. Other institutional investors have also made changes to their positions in BlackRock. Analysts have given mixed ratings, with a consensus rating of "Moderate Buy" and an average target price of $1,151.21. BlackRock's stock has seen fluctuations, with a recent trading price of $1,135.88, and the company reported strong earnings results, exceeding expectations.
Community Bank & Trust Waco Texas purchased a new position in BlackRock (NYSE:BLK - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 2,194 shares of the asset manager's stock, valued at approximately $2,077,000.
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Other institutional investors have also recently made changes to their positions in the company. Investment Management Corp VA ADV bought a new position in shares of BlackRock in the 4th quarter worth $30,000. Fairway Wealth LLC increased its holdings 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. MorganRosel Wealth Management LLC bought a new position in shares of BlackRock in the 1st quarter worth $31,000. Cheviot Value Management LLC bought a new position in shares of BlackRock in the 1st quarter worth $30,000. Finally, CBIZ Investment Advisory Services LLC bought a new position in shares of BlackRock in the 1st quarter worth $34,000. Institutional investors own 80.69% of the company's stock.
Analyst Upgrades and Downgrades
BLK has been the subject of a number of research reports. JPMorgan Chase & Co. upped their price objective on shares of BlackRock from $1,018.00 to $1,093.00 and gave the company a "neutral" rating in a research note on Wednesday, July 16th. Wall Street Zen raised shares of BlackRock to a "hold" rating in a research note on Saturday, May 24th. Barclays upped their price objective on shares of BlackRock from $990.00 to $1,220.00 and gave the company an "overweight" rating in a research note on Thursday, July 10th. Keefe, Bruyette & Woods cut their price objective on shares of BlackRock from $1,247.00 to $1,224.00 and set an "outperform" rating for the company in a research note on Wednesday, July 16th. Finally, The Goldman Sachs Group reaffirmed a "buy" rating and issued a $1,115.00 price objective on shares of BlackRock in a research note on Tuesday, July 8th. Three research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $1,151.21.
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View Our Latest Stock Report on BlackRock
Insider Buying and Selling at BlackRock
In related news, Director J. Richard Kushel sold 17,142 shares of the stock in a transaction dated Wednesday, July 30th. The shares were sold at an average price of $1,120.50, for a total value of $19,207,611.00. Following the completion of the transaction, the director directly owned 61,369 shares in the company, valued at $68,763,964.50. This trade represents a 21.83% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Fabrizio Freda sold 4,434 shares of the stock in a transaction dated Thursday, July 24th. The stock was sold at an average price of $1,122.81, for a total transaction of $4,978,539.54. Following the completion of the transaction, the director owned 3,506 shares of the company's stock, valued at approximately $3,936,571.86. The trade was a 55.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 66,494 shares of company stock valued at $74,694,573 in the last quarter. 1.98% of the stock is owned by insiders.
BlackRock Trading Down 2.1%
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Shares of BLK opened at $1,135.88 on Monday. The firm has a fifty day simple moving average of $1,071.38 and a two-hundred day simple moving average of $988.76. BlackRock has a twelve month low of $773.74 and a twelve month high of $1,171.89. The company has a quick ratio of 4.04, a current ratio of 4.04 and a debt-to-equity ratio of 0.39. The stock has a market capitalization of $175.89 billion, a P/E ratio of 27.46, a PEG ratio of 2.28 and a beta of 1.42.
BlackRock (NYSE:BLK - Get Free Report) last posted its earnings results on Tuesday, July 15th. The asset manager reported $12.05 EPS for the quarter, topping the consensus estimate of $10.41 by $1.64. The firm had revenue of $5.42 billion during the quarter, compared to analysts' expectations of $5.40 billion. BlackRock had a net margin of 29.68% and a return on equity of 15.53%. The company's quarterly revenue was up 12.9% compared to the same quarter last year. During the same period last year, the company posted $10.36 EPS. On average, research analysts anticipate that BlackRock will post 47.41 EPS for the current year.
BlackRock Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 23rd. Investors of record on Friday, September 5th will be paid a $5.21 dividend. This represents a $20.84 annualized dividend and a dividend yield of 1.8%. The ex-dividend date is Friday, September 5th. BlackRock's dividend payout ratio (DPR) is presently 50.39%.
About BlackRock
(Free Report)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.
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