Okabena Investment Services Inc. Acquires 107 Shares of BlackRock, Inc. (NYSE:BLK)

Okabena Investment Services Inc. increased its stake in BlackRock, Inc. (NYSE:BLK) by 7.4% during the third quarter, Holdings Channel.com reports. The firm owned 1,548 shares of the asset manager’s stock after purchasing an additional 107 shares during the quarter. Okabena Investment Services Inc.’s holdings in BlackRock were worth $1,470,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently bought and sold shares of the stock. Fairscale Capital LLC bought a new position in shares of BlackRock in the second quarter worth about $31,000. Reston Wealth Management LLC bought a new stake in BlackRock during the 3rd quarter worth approximately $37,000. MFA Wealth Advisors LLC lifted its holdings in BlackRock by 100.0% during the third quarter. MFA Wealth Advisors LLC now owns 40 shares of the asset manager’s stock valued at $38,000 after purchasing an additional 20 shares in the last quarter. Addison Advisors LLC boosted its position in shares of BlackRock by 81.5% in the third quarter. Addison Advisors LLC now owns 49 shares of the asset manager’s stock worth $47,000 after purchasing an additional 22 shares during the period. Finally, Olistico Wealth LLC bought a new stake in shares of BlackRock during the 2nd quarter valued at $53,000. 80.69% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other BlackRock news, Director Mark Wiedman sold 12,000 shares of the firm’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $900.00, for a total value of $10,800,000.00. Following the completion of the sale, the director now owns 6,480 shares of the company’s stock, valued at $5,832,000. This trade represents a 64.94 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.90% of the stock is owned by insiders.

BlackRock Stock Performance

BlackRock stock opened at $1,036.46 on Friday. The company has a quick ratio of 5.06, a current ratio of 5.06 and a debt-to-equity ratio of 0.37. BlackRock, Inc. has a twelve month low of $724.54 and a twelve month high of $1,068.34. The company’s 50-day moving average price is $984.28 and its 200-day moving average price is $880.18. The company has a market cap of $160.53 billion, a PE ratio of 25.58, a price-to-earnings-growth ratio of 1.83 and a beta of 1.30.

BlackRock (NYSE:BLK) last issued its quarterly earnings data on Friday, October 11th. The asset manager reported $11.46 earnings per share for the quarter, topping the consensus estimate of $10.42 by $1.04. The company had revenue of $5.20 billion for the quarter, compared to analysts’ expectations of $5.03 billion. BlackRock had a return on equity of 15.52% and a net margin of 31.37%. The firm’s revenue for the quarter was up 14.9% on a year-over-year basis. During the same period in the previous year, the firm posted $10.91 earnings per share. On average, equities research analysts forecast that BlackRock, Inc. will post 43.17 EPS for the current fiscal year.

BlackRock Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 23rd. Investors of record on Thursday, December 5th will be given a $5.10 dividend. The ex-dividend date of this dividend is Thursday, December 5th. This represents a $20.40 dividend on an annualized basis and a yield of 1.97%. BlackRock’s dividend payout ratio is presently 50.35%.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on BLK. StockNews.com started coverage on shares of BlackRock in a report on Thursday. They issued a “hold” rating for the company. The Goldman Sachs Group upped their price objective on BlackRock from $960.00 to $1,040.00 and gave the stock a “buy” rating in a research note on Thursday, October 3rd. Wells Fargo & Company lifted their target price on BlackRock from $1,000.00 to $1,070.00 and gave the company an “overweight” rating in a research note on Wednesday, October 9th. JPMorgan Chase & Co. upped their price target on BlackRock from $864.00 to $914.00 and gave the stock a “neutral” rating in a research note on Monday, October 21st. Finally, Morgan Stanley lifted their price objective on shares of BlackRock from $1,150.00 to $1,245.00 and gave the company an “overweight” rating in a research report on Monday, October 14th. Three research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, BlackRock presently has a consensus rating of “Moderate Buy” and an average target price of $1,019.62.

BlackRock Company 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.