Allen Mooney & Barnes Investment Advisors LLC Purchases 399 Shares of BlackRock, Inc. (NYSE:BLK)

Allen Mooney & Barnes Investment Advisors LLC increased its holdings in shares of BlackRock, Inc. (NYSE:BLK) by 2.6% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 15,626 shares of the asset manager’s stock after acquiring an additional 399 shares during the period. BlackRock comprises approximately 2.4% of Allen Mooney & Barnes Investment Advisors LLC’s holdings, making the stock its 11th largest holding. Allen Mooney & Barnes Investment Advisors LLC’s holdings in BlackRock were worth $14,789,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of BLK. Farmers & Merchants Trust Co of Chambersburg PA grew its stake in shares of BlackRock by 0.8% in the fourth quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 1,279 shares of the asset manager’s stock worth $1,311,000 after purchasing an additional 10 shares during the last quarter. Legacy Capital Group California Inc. increased its stake in shares of BlackRock by 2.8% in the fourth quarter. Legacy Capital Group California Inc. now owns 368 shares of the asset manager’s stock valued at $377,000 after buying an additional 10 shares during the period. Mascoma Wealth Management LLC increased its position in BlackRock by 9.5% during the 4th quarter. Mascoma Wealth Management LLC now owns 127 shares of the asset manager’s stock valued at $130,000 after purchasing an additional 11 shares during the period. Hazlett Burt & Watson Inc. lifted its position in shares of BlackRock by 2.1% in the 4th quarter. Hazlett Burt & Watson Inc. now owns 534 shares of the asset manager’s stock worth $542,000 after purchasing an additional 11 shares during the period. Finally, Annis Gardner Whiting Capital Advisors LLC boosted its stake in shares of BlackRock by 4.5% in the 4th quarter. Annis Gardner Whiting Capital Advisors LLC now owns 257 shares of the asset manager’s stock valued at $263,000 after purchasing an additional 11 shares during the last quarter. 80.69% of the stock is owned by institutional investors and hedge funds.

BlackRock Price Performance

Shares of NYSE:BLK opened at $993.30 on Thursday. The firm has a market capitalization of $153.89 billion, a PE ratio of 23.65, a P/E/G ratio of 1.90 and a beta of 1.41. The company has a 50-day moving average price of $931.30 and a two-hundred day moving average price of $972.72. BlackRock, Inc. has a twelve month low of $758.20 and a twelve month high of $1,084.22. The company has a quick ratio of 5.23, a current ratio of 5.23 and a debt-to-equity ratio of 0.45.

BlackRock (NYSE:BLK) last announced its earnings results on Friday, April 11th. The asset manager reported $11.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $10.84 by $0.46. The business had revenue of $5.28 billion during the quarter, compared to analyst estimates of $5.47 billion. BlackRock had a net margin of 31.21% and a return on equity of 16.32%. BlackRock’s revenue for the quarter was up 11.6% on a year-over-year basis. During the same period in the previous year, the business posted $9.81 earnings per share. Equities analysts forecast that BlackRock, Inc. will post 47.41 EPS for the current year.

BlackRock Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 23rd. Shareholders of record on Thursday, June 5th will be issued a $5.21 dividend. This represents a $20.84 annualized dividend and a yield of 2.10%. The ex-dividend date of this dividend is Thursday, June 5th. BlackRock’s dividend payout ratio (DPR) is currently 50.63%.

Analyst Upgrades and Downgrades

BLK has been the subject of several recent analyst reports. Wall Street Zen raised BlackRock to a “hold” rating in a research note on Saturday, May 24th. Bank of America reduced their price objective on BlackRock from $1,196.00 to $1,178.00 and set a “buy” rating for the company in a research note on Thursday, April 3rd. Wells Fargo & Company upped their target price on BlackRock from $1,035.00 to $1,105.00 and gave the stock an “overweight” rating in a research report on Wednesday, June 4th. JPMorgan Chase & Co. lowered their price objective on shares of BlackRock from $1,046.00 to $988.00 and set a “neutral” rating on the stock in a report on Monday, April 14th. Finally, Morgan Stanley dropped their price objective on shares of BlackRock from $1,275.00 to $1,124.00 and set an “overweight” rating on the stock in a research note on Monday, April 7th. Three analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $1,082.46.

Insider Activity at BlackRock

In related news, Director J. Richard Kushel sold 10,000 shares of BlackRock stock in a transaction dated Thursday, April 24th. The shares were sold at an average price of $912.50, for a total transaction of $9,125,000.00. Following the completion of the transaction, the director now directly owns 66,034 shares of the company’s stock, valued at $60,256,025. This trade represents a 13.15% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 1.98% of the stock is currently owned by company insiders.

BlackRock Company 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.