5T Wealth LLC Acquires New Position in BlackRock, Inc. (NYSE:BLK)

5T Wealth LLC bought a new position in shares of BlackRock, Inc. (NYSE:BLK - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund bought 961 shares of the asset manager's stock, valued at approximately $985,000.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Marino Stram & Associates LLC grew its stake in BlackRock by 0.3% during the third quarter. Marino Stram & Associates LLC now owns 3,399 shares of the asset manager's stock valued at $3,227,000 after acquiring an additional 10 shares in the last quarter. Fidelity D & D Bancorp Inc. grew its stake in BlackRock by 3.7% during the third quarter. Fidelity D & D Bancorp Inc. now owns 277 shares of the asset manager's stock valued at $263,000 after acquiring an additional 10 shares in the last quarter. Princeton Global Asset Management LLC grew its stake in BlackRock by 8.7% during the fourth quarter. Princeton Global Asset Management LLC now owns 125 shares of the asset manager's stock valued at $128,000 after acquiring an additional 10 shares in the last quarter. Farmers & Merchants Trust Co of Chambersburg PA grew its stake in BlackRock by 0.8% during the fourth quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 1,279 shares of the asset manager's stock valued at $1,311,000 after acquiring an additional 10 shares in the last quarter. Finally, Ballentine Partners LLC grew its stake in BlackRock by 0.3% during the third quarter. Ballentine Partners LLC now owns 3,424 shares of the asset manager's stock valued at $3,251,000 after acquiring an additional 11 shares in the last quarter. Institutional investors own 80.69% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have commented on BLK. Wells Fargo & Company boosted their price target on shares of BlackRock from $1,155.00 to $1,175.00 and gave the stock an "overweight" rating in a research note on Thursday, January 16th. JPMorgan Chase & Co. boosted their price target on shares of BlackRock from $914.00 to $971.00 and gave the stock a "neutral" rating in a research note on Tuesday, January 14th. Deutsche Bank Aktiengesellschaft boosted their price target on shares of BlackRock from $1,215.00 to $1,275.00 and gave the stock a "buy" rating in a research note on Thursday, January 16th. UBS Group boosted their price target on shares of BlackRock from $1,017.00 to $1,045.00 and gave the stock a "neutral" rating in a research note on Tuesday, January 21st. Finally, Barclays cut their price target on shares of BlackRock from $1,220.00 to $1,160.00 and set an "overweight" rating for the company in a research note on Monday, January 13th. Three analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $1,120.67.

BlackRock Trading Up 0.4 %

NYSE:BLK traded up $4.13 during midday trading on Thursday, reaching $990.47. 768,915 shares of the stock traded hands, compared to its average volume of 808,873. The company has a fifty day moving average of $1,014.60 and a 200 day moving average of $975.94. BlackRock, Inc. has a 12 month low of $745.55 and a 12 month high of $1,084.22. The company has a debt-to-equity ratio of 0.45, a quick ratio of 5.23 and a current ratio of 5.23. The stock has a market capitalization of $153.40 billion, a P/E ratio of 23.58, a PEG ratio of 1.88 and a beta of 1.28.

BlackRock (NYSE:BLK - Get Free Report) last posted its quarterly earnings results on Wednesday, January 15th. The asset manager reported $11.93 EPS for the quarter, beating analysts' consensus estimates of $11.52 by $0.41. BlackRock had a net margin of 31.21% and a return on equity of 16.32%. The company had revenue of $5.68 billion during the quarter, compared to analyst estimates of $5.57 billion. During the same period in the prior year, the business posted $9.66 EPS. The firm's revenue was up 22.6% compared to the same quarter last year. On average, research analysts predict that BlackRock, Inc. will post 47.44 EPS for the current year.

BlackRock Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 24th. Investors of record on Friday, March 7th will be issued a dividend of $5.21 per share. This is a positive change from BlackRock's previous quarterly dividend of $5.10. This represents a $20.84 dividend on an annualized basis and a yield of 2.10%. The ex-dividend date of this dividend is Friday, March 7th. BlackRock's dividend payout ratio is currently 48.57%.

Insiders Place Their Bets

In other BlackRock news, Director J. Richard Kushel sold 10,000 shares of the company's stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $1,010.00, for a total value of $10,100,000.00. Following the completion of the transaction, the director now directly owns 68,433 shares in the company, valued at approximately $69,117,330. This represents a 12.75 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Robert L. Goldstein sold 54,000 shares of the company's stock in a transaction on Thursday, December 5th. The stock was sold at an average price of $1,046.03, for a total transaction of $56,485,620.00. Following the completion of the transaction, the chief operating officer now owns 41,916 shares of the company's stock, valued at $43,845,393.48. This trade represents a 56.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 110,190 shares of company stock worth $115,163,141. 0.90% of the stock is currently owned by corporate insiders.

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.