Howard Capital Management trimmed its holdings in shares of BlackRock, Inc. (NYSE:BLK) by 2.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 27,740 shares of the asset manager’s stock after selling 555 shares during the period. BlackRock comprises about 2.1% of Howard Capital Management’s portfolio, making the stock its 23rd largest position. Howard Capital Management’s holdings in BlackRock were worth $14,250,000 at the end of the most recent quarter.
A number of other institutional investors have also modified their holdings of the business. Osborn Williams & Donohoe LLC boosted its holdings in shares of BlackRock by 8.3% in the 4th quarter. Osborn Williams & Donohoe LLC now owns 23,318 shares of the asset manager’s stock valued at $11,978,000 after buying an additional 1,779 shares in the last quarter. Asset Advisors Corp boosted its holdings in shares of BlackRock by 1.9% in the 4th quarter. Asset Advisors Corp now owns 16,985 shares of the asset manager’s stock valued at $8,725,000 after buying an additional 310 shares in the last quarter. Oakworth Capital Inc. boosted its holdings in shares of BlackRock by 67.6% in the 4th quarter. Oakworth Capital Inc. now owns 305 shares of the asset manager’s stock valued at $153,000 after buying an additional 123 shares in the last quarter. Steward Partners Investment Advisory LLC boosted its holdings in shares of BlackRock by 149.3% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 9,918 shares of the asset manager’s stock valued at $5,095,000 after buying an additional 5,939 shares in the last quarter. Finally, Naples Global Advisors LLC boosted its holdings in shares of BlackRock by 1.7% in the 4th quarter. Naples Global Advisors LLC now owns 5,495 shares of the asset manager’s stock valued at $2,823,000 after buying an additional 93 shares in the last quarter. Institutional investors own 83.60% of the company’s stock.
In other BlackRock news, Director Deryck C. Maughan purchased 3,861 shares of BlackRock stock in a transaction on Wednesday, January 17th. The stock was bought at an average cost of $573.44 per share, with a total value of $2,214,051.84. Following the transaction, the director now owns 12,265 shares of the company’s stock, valued at approximately $7,033,241.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Jeff A. Smith sold 425 shares of the firm’s stock in a transaction that occurred on Tuesday, January 16th. The stock was sold at an average price of $565.96, for a total transaction of $240,533.00. The disclosure for this sale can be found here. Insiders sold a total of 4,525 shares of company stock valued at $2,312,687 over the last quarter. 1.86% of the stock is owned by company insiders.
BlackRock (NYSE:BLK) last released its earnings results on Friday, January 12th. The asset manager reported $6.24 EPS for the quarter, topping analysts’ consensus estimates of $5.94 by $0.30. The company had revenue of $3.47 billion during the quarter, compared to analysts’ expectations of $3.33 billion. BlackRock had a net margin of 39.79% and a return on equity of 12.54%. BlackRock’s revenue for the quarter was up 20.0% on a year-over-year basis. During the same period last year, the business earned $5.14 EPS. sell-side analysts anticipate that BlackRock, Inc. will post 28.52 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, March 22nd. Investors of record on Wednesday, March 7th will be paid a $2.88 dividend. The ex-dividend date is Tuesday, March 6th. This is a boost from BlackRock’s previous quarterly dividend of $2.50. This represents a $11.52 dividend on an annualized basis and a yield of 1.94%. BlackRock’s dividend payout ratio (DPR) is 33.00%.
A number of research firms have recently weighed in on BLK. Zacks Investment Research upgraded shares of BlackRock from a “hold” rating to a “strong-buy” rating and set a $614.00 price target on the stock in a report on Thursday, January 11th. Jefferies Group raised their price target on shares of BlackRock to $565.00 and gave the company a “hold” rating in a report on Monday, January 15th. Citigroup raised their price target on shares of BlackRock to $625.00 and gave the company a “buy” rating in a report on Tuesday, January 16th. JPMorgan Chase & Co. raised their price target on shares of BlackRock to $558.00 and gave the company an “overweight” rating in a report on Thursday, October 12th. Finally, Credit Suisse Group reiterated an “outperform” rating on shares of BlackRock in a research note on Thursday, October 12th. Four investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $547.92.
BlackRock Company Profile
BlackRock, Inc (BlackRock) is an investment management company. BlackRock provides a range of investment and risk management services to institutional and retail clients worldwide. Its diverse platform of active (alpha) and index (beta) investment strategies across asset classes enables the Company to tailor investment outcomes and asset allocation solutions for clients.
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