Cypress Wealth Services LLC Trims Holdings in BlackRock, Inc. (NYSE:BLK)


Share on StockTwits

Cypress Wealth Services LLC cut its holdings in BlackRock, Inc. (NYSE:BLK) by 12.0% during the first quarter, Holdings Channel reports. The institutional investor owned 701 shares of the asset manager’s stock after selling 96 shares during the quarter. Cypress Wealth Services LLC’s holdings in BlackRock were worth $529,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in BLK. IHT Wealth Management LLC grew its position in shares of BlackRock by 50.7% in the 3rd quarter. IHT Wealth Management LLC now owns 657 shares of the asset manager’s stock worth $370,000 after buying an additional 221 shares during the period. Kathmere Capital Management LLC purchased a new stake in BlackRock during the 3rd quarter valued at about $56,000. Mercer Global Advisors Inc. ADV grew its position in BlackRock by 11.8% during the 3rd quarter. Mercer Global Advisors Inc. ADV now owns 3,342 shares of the asset manager’s stock valued at $1,883,000 after purchasing an additional 353 shares during the last quarter. Woodstock Corp purchased a new stake in BlackRock during the 4th quarter valued at about $275,000. Finally, Carroll Financial Associates Inc. grew its position in BlackRock by 34.9% during the 4th quarter. Carroll Financial Associates Inc. now owns 85 shares of the asset manager’s stock valued at $61,000 after purchasing an additional 22 shares during the last quarter. 79.10% of the stock is currently owned by hedge funds and other institutional investors.

In other BlackRock news, insider Marc D. Comerchero sold 600 shares of BlackRock stock in a transaction dated Friday, April 16th. The stock was sold at an average price of $808.38, for a total value of $485,028.00. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Rachel Lord sold 4,416 shares of BlackRock stock in a transaction dated Tuesday, April 20th. The shares were sold at an average price of $808.00, for a total value of $3,568,128.00. The disclosure for this sale can be found here. Insiders sold 13,499 shares of company stock valued at $10,408,036 over the last 90 days. 1.42% of the stock is currently owned by corporate insiders.

NYSE:BLK opened at $825.62 on Tuesday. BlackRock, Inc. has a twelve month low of $451.35 and a twelve month high of $832.40. The company has a market cap of $126.02 billion, a price-to-earnings ratio of 25.89, a price-to-earnings-growth ratio of 1.88 and a beta of 1.16. The stock has a fifty day simple moving average of $778.84 and a 200-day simple moving average of $718.66. The company has a current ratio of 1.01, a quick ratio of 1.02 and a debt-to-equity ratio of 0.45.

BlackRock (NYSE:BLK) last released its quarterly earnings data on Wednesday, April 14th. The asset manager reported $7.77 earnings per share for the quarter, beating the consensus estimate of $7.64 by $0.13. The firm had revenue of $4.40 billion during the quarter, compared to the consensus estimate of $4.29 billion. BlackRock had a return on equity of 15.74% and a net margin of 30.43%. The firm’s quarterly revenue was up 18.5% on a year-over-year basis. During the same period in the previous year, the company posted $6.60 earnings per share. As a group, equities research analysts predict that BlackRock, Inc. will post 36.68 EPS for the current fiscal year.

Several analysts recently commented on the stock. BMO Capital Markets increased their price objective on shares of BlackRock from $709.00 to $715.00 and gave the company a “market perform” rating in a research report on Friday, January 15th. Citigroup upped their target price on shares of BlackRock from $950.00 to $1,000.00 in a research note on Friday, April 16th. Morgan Stanley increased their price objective on shares of BlackRock from $924.00 to $944.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 20th. Argus raised their target price on shares of BlackRock from $845.00 to $915.00 and gave the stock a “buy” rating in a research note on Thursday, April 22nd. Finally, Barclays increased their price objective on shares of BlackRock from $850.00 to $925.00 and gave the company an “overweight” rating in a report on Thursday, April 22nd. Two analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $858.23.

BlackRock Company Profile

BlackRock, Inc engages in providing investment management, risk management, and advisory services for institutional and retail clients worldwide. Its products include single and multi-asset class portfolios investing in equities, fixed income, alternatives, and money market instruments. The company was founded by Ralph L.

Read More: What is a trade deficit?

Want to see what other hedge funds are holding BLK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for BlackRock, Inc. (NYSE:BLK).

Institutional Ownership by Quarter for BlackRock (NYSE:BLK)

Receive News & Ratings for BlackRock Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for BlackRock and related companies with MarketBeat.com's FREE daily email newsletter.