Napa Wealth Management Purchases New Position in BlackRock, Inc. (NYSE:BLK)

Napa Wealth Management acquired a new position in BlackRock, Inc. (NYSE:BLK - Free Report) in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 1,242 shares of the asset manager's stock, valued at approximately $1,179,000.

Several other large investors have also recently added to or reduced their stakes in the business. Marino Stram & Associates LLC increased its holdings in shares of 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 purchasing an additional 10 shares during the period. Onyx Bridge Wealth Group LLC grew its position in BlackRock by 3.5% in the 3rd quarter. Onyx Bridge Wealth Group LLC now owns 328 shares of the asset manager's stock valued at $312,000 after buying an additional 11 shares in the last quarter. Ballentine Partners LLC increased its stake in BlackRock by 0.3% during the 3rd quarter. Ballentine Partners LLC now owns 3,424 shares of the asset manager's stock valued at $3,251,000 after buying an additional 11 shares during the period. Harbor Capital Advisors Inc. raised its position in shares of BlackRock by 0.4% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 2,979 shares of the asset manager's stock worth $2,829,000 after buying an additional 11 shares in the last quarter. Finally, Venturi Wealth Management LLC lifted its stake in shares of BlackRock by 0.7% in the 3rd quarter. Venturi Wealth Management LLC now owns 1,524 shares of the asset manager's stock worth $1,447,000 after acquiring an additional 11 shares during the period. 80.69% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on BLK shares. Deutsche Bank Aktiengesellschaft boosted their target price on BlackRock from $1,105.00 to $1,133.00 and gave the stock a "buy" rating in a report on Monday, November 11th. Barclays boosted their price objective on BlackRock from $1,010.00 to $1,120.00 and gave the stock an "overweight" rating in a research note on Monday, October 14th. Wells Fargo & Company raised 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. Morgan Stanley upped their price target on shares of BlackRock from $1,150.00 to $1,245.00 and gave the company an "overweight" rating in a report on Monday, October 14th. Finally, StockNews.com started coverage on shares of BlackRock in a research report on Wednesday, November 13th. They set a "hold" rating for the company. Three analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, BlackRock has an average rating of "Moderate Buy" and an average target price of $1,019.62.

Insider Activity

In other news, Director Mark Wiedman sold 12,000 shares of the business's stock in a transaction on Friday, August 30th. The shares were sold at an average price of $900.00, for a total transaction of $10,800,000.00. Following the transaction, the director now directly owns 6,480 shares in the company, valued at $5,832,000. The trade was a 64.94 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.90% of the stock is owned by corporate insiders.

BlackRock Trading Up 0.2 %

NYSE BLK traded up $2.60 on Monday, hitting $1,049.97. 500,304 shares of the stock were exchanged, compared to its average volume of 574,430. The company's 50-day moving average price is $969.04 and its two-hundred day moving average price is $871.62. The company has a debt-to-equity ratio of 0.37, a current ratio of 5.06 and a quick ratio of 5.06. BlackRock, Inc. has a 52-week low of $712.11 and a 52-week high of $1,068.34. The company has a market capitalization of $162.62 billion, a price-to-earnings ratio of 25.85, a P/E/G ratio of 1.87 and a beta of 1.30.

BlackRock (NYSE:BLK - Get Free Report) last issued its quarterly earnings results on Friday, October 11th. The asset manager reported $11.46 earnings per share for the quarter, beating analysts' consensus estimates of $10.42 by $1.04. The business had revenue of $5.20 billion for the quarter, compared to the consensus estimate of $5.03 billion. BlackRock had a return on equity of 15.52% and a net margin of 31.37%. BlackRock's revenue for the quarter was up 14.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $10.91 earnings per share. Research analysts predict that BlackRock, Inc. will post 43.17 EPS for the current year.

BlackRock 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.