Noesis Capital Mangement Corp Boosts Stake in BlackRock, Inc. (NYSE:BLK)

Noesis Capital Mangement Corp grew its stake in shares of BlackRock, Inc. (NYSE:BLK) by 0.9% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 1,236 shares of the asset manager’s stock after acquiring an additional 11 shares during the quarter. Noesis Capital Mangement Corp’s holdings in BlackRock were worth $1,174,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in BLK. Fairscale Capital LLC acquired a new position in BlackRock in the 2nd quarter valued at about $31,000. Reston Wealth Management LLC acquired a new position in shares of BlackRock in the third quarter valued at approximately $37,000. MFA Wealth Advisors LLC lifted its stake in shares of 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 buying an additional 20 shares during the period. Addison Advisors LLC boosted its position in BlackRock by 81.5% during the third quarter. Addison Advisors LLC now owns 49 shares of the asset manager’s stock worth $47,000 after acquiring an additional 22 shares during the last quarter. Finally, Olistico Wealth LLC purchased a new stake in BlackRock in the 2nd quarter worth approximately $53,000. 80.69% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. Wells Fargo & Company increased their price target on shares of BlackRock from $1,000.00 to $1,070.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 9th. StockNews.com initiated coverage on BlackRock in a report on Thursday, November 21st. They issued a “hold” rating on the stock. Deutsche Bank Aktiengesellschaft upped their price target on BlackRock from $1,105.00 to $1,133.00 and gave the stock a “buy” rating in a research note on Monday, November 11th. JPMorgan Chase & Co. lifted their price objective on BlackRock from $864.00 to $914.00 and gave the company a “neutral” rating in a research note on Monday, October 21st. Finally, The Goldman Sachs Group raised their price target on shares of BlackRock from $960.00 to $1,040.00 and gave the company a “buy” rating in a report on Thursday, October 3rd. Three equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $1,019.62.

BlackRock Stock Performance

Shares of BLK stock opened at $1,019.45 on Thursday. The company has a debt-to-equity ratio of 0.37, a current ratio of 5.06 and a quick ratio of 5.06. The company’s fifty day moving average price is $991.35 and its two-hundred day moving average price is $885.16. The firm has a market capitalization of $157.89 billion, a P/E ratio of 25.16, a P/E/G ratio of 1.84 and a beta of 1.30. BlackRock, Inc. has a 12 month low of $725.86 and a 12 month high of $1,068.34.

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, beating analysts’ consensus estimates of $10.42 by $1.04. BlackRock had a return on equity of 15.52% and a net margin of 31.37%. The firm had revenue of $5.20 billion during the quarter, compared to analyst estimates of $5.03 billion. During the same quarter last year, the firm earned $10.91 EPS. BlackRock’s quarterly revenue was up 14.9% on a year-over-year basis. On average, research analysts anticipate that BlackRock, Inc. will post 43.17 earnings per share 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 paid a $5.10 dividend. The ex-dividend date is Thursday, December 5th. This represents a $20.40 dividend on an annualized basis and a dividend yield of 2.00%. BlackRock’s dividend payout ratio (DPR) is presently 50.35%.

Insider Activity at BlackRock

In related news, Director Mark Wiedman sold 12,000 shares of the business’s stock in a transaction dated Friday, August 30th. The stock was 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 directly owns 6,480 shares of the company’s stock, valued at $5,832,000. The trade was a 64.94 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 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.