Brady Martz Wealth Solutions LLC Purchases New Shares in BlackRock, Inc. (NYSE:BLK)

Brady Martz Wealth Solutions LLC purchased a new stake in BlackRock, Inc. (NYSE:BLK - Free Report) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm purchased 1,910 shares of the asset manager's stock, valued at approximately $1,840,000.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. FSA Wealth Management LLC purchased a new stake in shares of BlackRock during the 3rd quarter worth approximately $26,000. Fairscale Capital LLC acquired a new stake in BlackRock in the second quarter valued at $31,000. West Financial Advisors LLC purchased a new position in shares of BlackRock in the fourth quarter valued at $39,000. Reston Wealth Management LLC acquired a new position in shares of BlackRock during the 3rd quarter worth $37,000. Finally, MFA Wealth Advisors LLC raised its stake in shares of BlackRock by 100.0% during the 3rd quarter. MFA Wealth Advisors LLC now owns 40 shares of the asset manager's stock worth $38,000 after buying an additional 20 shares during the last quarter. Hedge funds and other institutional investors own 80.69% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on BLK. Barclays dropped their target price on shares of BlackRock from $1,220.00 to $1,160.00 and set an "overweight" rating for the company in a report on Monday, January 13th. The Goldman Sachs Group lifted their price objective on BlackRock from $960.00 to $1,040.00 and gave the stock a "buy" rating in a research report on Thursday, October 3rd. StockNews.com assumed coverage on BlackRock in a report on Thursday. They set a "hold" rating on the stock. TD Cowen boosted their price target on BlackRock from $960.00 to $1,077.00 and gave the stock a "buy" rating in a report on Thursday, October 10th. Finally, JPMorgan Chase & Co. increased their price objective on BlackRock from $914.00 to $971.00 and gave the company a "neutral" rating in a research note on Tuesday, January 14th. Three equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $1,103.33.

BlackRock Trading Up 0.9 %

Shares of NYSE BLK traded up $8.51 on Friday, reaching $1,004.23. 1,079,196 shares of the company traded hands, compared to its average volume of 610,586. The company has a 50 day moving average of $1,027.33 and a 200 day moving average of $947.28. The company has a current ratio of 5.06, a quick ratio of 5.06 and a debt-to-equity ratio of 0.37. BlackRock, Inc. has a fifty-two week low of $745.55 and a fifty-two week high of $1,082.45. The stock has a market capitalization of $155.54 billion, a PE ratio of 24.78, a P/E/G ratio of 1.53 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 earnings per share for the quarter, topping analysts' consensus estimates of $11.52 by $0.41. BlackRock had a net margin of 31.37% and a return on equity of 15.52%. The company had revenue of $5.68 billion for the quarter, compared to the consensus estimate of $5.57 billion. During the same quarter last year, the firm posted $9.66 earnings per share. BlackRock's revenue was up 22.6% on a year-over-year basis. On average, equities research analysts forecast that BlackRock, Inc. will post 43.02 earnings per share for the current fiscal year.

BlackRock Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, December 23rd. Shareholders of record on Thursday, December 5th were paid a dividend of $5.10 per share. The ex-dividend date of this dividend was Thursday, December 5th. This represents a $20.40 annualized dividend and a yield of 2.03%. BlackRock's dividend payout ratio is presently 50.35%.

Insider Transactions at BlackRock

In related news, COO Robert L. Goldstein sold 54,000 shares of the stock in a transaction on Thursday, December 5th. The stock was sold at an average price of $1,046.03, for a total value of $56,485,620.00. Following the completion of the sale, the chief operating officer now directly owns 41,916 shares in the company, valued at approximately $43,845,393.48. This represents a 56.30 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Mark Wiedman sold 36,190 shares of the business's stock in a transaction dated Friday, December 6th. The stock was sold at an average price of $1,045.90, for a total value of $37,851,121.00. Following the transaction, the director now owns 6,480 shares in the company, valued at approximately $6,777,432. This represents a 84.81 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.90% of the company's stock.

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.