Oak Harvest Investment Services Invests $6.74 Million in BlackRock, Inc. (NYSE:BLK)

Oak Harvest Investment Services purchased a new stake in shares of BlackRock, Inc. (NYSE:BLK) during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 8,078 shares of the asset manager’s stock, valued at approximately $6,735,000.

Several other hedge funds have also recently bought and sold shares of BLK. Tennessee Valley Asset Management Partners purchased a new stake in shares of BlackRock in the fourth quarter worth approximately $27,000. Redmont Wealth Advisors LLC purchased a new stake in BlackRock in the 1st quarter worth approximately $27,000. Private Wealth Management Group LLC acquired a new stake in shares of BlackRock during the 4th quarter valued at $28,000. Pineridge Advisors LLC purchased a new position in shares of BlackRock during the 4th quarter valued at $28,000. Finally, LFA Lugano Financial Advisors SA increased its stake in shares of BlackRock by 208.3% in the fourth quarter. LFA Lugano Financial Advisors SA now owns 37 shares of the asset manager’s stock worth $30,000 after acquiring an additional 25 shares during the last quarter. 80.69% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the stock. UBS Group upped their price target on shares of BlackRock from $818.00 to $850.00 and gave the stock a “neutral” rating in a research note on Friday, April 12th. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and issued a $915.00 price target on shares of BlackRock in a research note on Tuesday. Morgan Stanley upped their price target on shares of BlackRock from $1,013.00 to $1,025.00 and gave the stock an “overweight” rating in a research note on Monday, April 15th. Finally, JPMorgan Chase & Co. upped their price target on shares of BlackRock from $742.00 to $767.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 2nd. Three equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, BlackRock currently has a consensus rating of “Moderate Buy” and a consensus target price of $844.17.

Insider Activity at BlackRock

In related news, CEO Laurence Fink sold 30,978 shares of the firm’s stock in a transaction that occurred on Monday, May 20th. The shares were sold at an average price of $807.29, for a total value of $25,008,229.62. Following the completion of the sale, the chief executive officer now owns 383,168 shares of the company’s stock, valued at $309,327,694.72. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other BlackRock news, Director Mark Wiedman sold 9,000 shares of the firm’s stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $795.00, for a total value of $7,155,000.00. Following the transaction, the director now directly owns 6,480 shares of the company’s stock, valued at $5,151,600. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Laurence Fink sold 30,978 shares of the firm’s stock in a transaction that occurred on Monday, May 20th. The shares were sold at an average price of $807.29, for a total transaction of $25,008,229.62. Following the completion of the transaction, the chief executive officer now directly owns 383,168 shares in the company, valued at $309,327,694.72. The disclosure for this sale can be found here. 0.90% of the stock is currently owned by company insiders.

BlackRock Price Performance

NYSE:BLK traded down $0.01 during mid-day trading on Thursday, hitting $789.12. The company’s stock had a trading volume of 250,799 shares, compared to its average volume of 506,332. BlackRock, Inc. has a fifty-two week low of $596.18 and a fifty-two week high of $845.00. The company has a current ratio of 5.32, a quick ratio of 5.32 and a debt-to-equity ratio of 0.35. The company has a market capitalization of $117.26 billion, a price-to-earnings ratio of 20.05, a P/E/G ratio of 1.63 and a beta of 1.32. The stock has a fifty day moving average of $780.75 and a 200-day moving average of $792.72.

BlackRock (NYSE:BLK) last posted its quarterly earnings data on Friday, April 12th. The asset manager reported $9.81 earnings per share for the quarter, topping the consensus estimate of $9.42 by $0.39. The company had revenue of $4.73 billion during the quarter, compared to analyst estimates of $4.65 billion. BlackRock had a net margin of 32.26% and a return on equity of 15.24%. The company’s revenue was up 11.4% on a year-over-year basis. During the same quarter last year, the business posted $7.93 earnings per share. As a group, equities analysts forecast that BlackRock, Inc. will post 41.25 EPS for the current fiscal year.

BlackRock Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 24th. Investors of record on Friday, June 7th were issued a $5.10 dividend. This represents a $20.40 dividend on an annualized basis and a dividend yield of 2.59%. The ex-dividend date was Friday, June 7th. BlackRock’s dividend payout ratio is currently 51.84%.

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.