BlackRock, Inc. (NYSE:BLK) Position Trimmed by Adell Harriman & Carpenter Inc.

Adell Harriman & Carpenter Inc. cut its stake in shares of BlackRock, Inc. (NYSE:BLK) by 1.1% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 14,382 shares of the asset manager’s stock after selling 165 shares during the period. BlackRock comprises about 1.4% of Adell Harriman & Carpenter Inc.’s investment portfolio, making the stock its 25th biggest position. Adell Harriman & Carpenter Inc.’s holdings in BlackRock were worth $6,075,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. BB&T Securities LLC lifted its position in BlackRock by 16.8% during the second quarter. BB&T Securities LLC now owns 16,310 shares of the asset manager’s stock valued at $6,889,000 after purchasing an additional 2,341 shares in the last quarter. Northeast Investment Management lifted its position in BlackRock by 12.4% during the second quarter. Northeast Investment Management now owns 47,408 shares of the asset manager’s stock valued at $20,026,000 after purchasing an additional 5,233 shares in the last quarter. ZWJ Investment Counsel Inc. lifted its position in BlackRock by 0.4% during the second quarter. ZWJ Investment Counsel Inc. now owns 688 shares of the asset manager’s stock valued at $291,000 after purchasing an additional 3 shares in the last quarter. Blair William & Co. IL lifted its position in BlackRock by 2.9% during the second quarter. Blair William & Co. IL now owns 69,554 shares of the asset manager’s stock valued at $29,380,000 after purchasing an additional 1,940 shares in the last quarter. Finally, Penobscot Investment Management Company Inc. lifted its position in BlackRock by 3.2% during the second quarter. Penobscot Investment Management Company Inc. now owns 5,740 shares of the asset manager’s stock valued at $2,425,000 after purchasing an additional 178 shares in the last quarter. Institutional investors own 82.77% of the company’s stock.

In other BlackRock news, insider Jeff A. Smith sold 250 shares of the stock in a transaction that occurred on Wednesday, July 26th. The shares were sold at an average price of $434.87, for a total transaction of $108,717.50. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Robert W. Fairbairn sold 3,675 shares of the stock in a transaction that occurred on Tuesday, September 5th. The stock was sold at an average price of $415.31, for a total transaction of $1,526,264.25. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 4,447 shares of company stock worth $1,855,015. 1.86% of the stock is currently owned by insiders.

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Several brokerages have recently commented on BLK. Jefferies Group LLC restated a “hold” rating and issued a $440.00 price objective on shares of BlackRock in a research report on Friday, August 18th. Bank of America Corporation restated a “buy” rating and issued a $450.00 price objective on shares of BlackRock in a research report on Monday, June 19th. Morgan Stanley restated an “overweight” rating and issued a $476.00 price objective (up from $460.00) on shares of BlackRock in a research report on Tuesday, July 18th. Zacks Investment Research upgraded BlackRock from a “hold” rating to a “buy” rating and set a $480.00 target price on the stock in a research report on Tuesday, June 20th. Finally, Deutsche Bank AG boosted their target price on BlackRock from $447.00 to $449.00 and gave the stock a “buy” rating in a research report on Tuesday, July 4th. Six investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $449.08.

Shares of BlackRock, Inc. (NYSE BLK) traded up 0.06% on Friday, reaching $425.96. The company had a trading volume of 265,949 shares. The company’s 50 day moving average price is $422.04 and its 200-day moving average price is $405.83. BlackRock, Inc. has a 1-year low of $336.84 and a 1-year high of $442.84. The stock has a market capitalization of $69.09 billion, a P/E ratio of 20.45 and a beta of 1.71.

BlackRock (NYSE:BLK) last announced its quarterly earnings data on Monday, July 17th. The asset manager reported $5.24 earnings per share (EPS) for the quarter, missing the consensus estimate of $5.39 by ($0.15). The firm had revenue of $2.97 billion for the quarter, compared to analysts’ expectations of $3.01 billion. BlackRock had a net margin of 29.92% and a return on equity of 11.74%. The business’s quarterly revenue was up 5.7% on a year-over-year basis. During the same period in the previous year, the company posted $4.78 EPS. Equities analysts predict that BlackRock, Inc. will post $21.83 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, September 22nd. Shareholders of record on Tuesday, September 5th will be paid a dividend of $2.50 per share. This represents a $10.00 dividend on an annualized basis and a yield of 2.35%. The ex-dividend date of this dividend is Thursday, August 31st. BlackRock’s dividend payout ratio is currently 47.98%.

BlackRock Profile

BlackRock, Inc (BlackRock) is an investment management company. BlackRock provides a range of investment and risk management services to institutional and retail clients worldwide. Its diverse platform of active (alpha) and index (beta) investment strategies across asset classes enables the Company to tailor investment outcomes and asset allocation solutions for clients.

Institutional Ownership by Quarter for BlackRock (NYSE:BLK)

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