Community Bank & Trust Waco Texas Boosts Position in BlackRock, Inc. (BLK)

Community Bank & Trust Waco Texas lifted its holdings in shares of BlackRock, Inc. (NYSE:BLK) by 12.9% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,491 shares of the asset manager’s stock after purchasing an additional 284 shares during the quarter. Community Bank & Trust Waco Texas’ holdings in BlackRock were worth $1,065,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the company. WESPAC Advisors SoCal LLC acquired a new stake in BlackRock in the 4th quarter valued at about $25,000. Hanson McClain Inc. increased its position in BlackRock by 425.0% in the 4th quarter. Hanson McClain Inc. now owns 63 shares of the asset manager’s stock valued at $25,000 after acquiring an additional 51 shares in the last quarter. Private Ocean LLC increased its position in BlackRock by 620.0% in the 4th quarter. Private Ocean LLC now owns 72 shares of the asset manager’s stock valued at $28,000 after acquiring an additional 62 shares in the last quarter. Evolution Wealth Advisors LLC acquired a new stake in BlackRock in the 4th quarter valued at about $33,000. Finally, Highwater Wealth Management LLC acquired a new stake in BlackRock in the 4th quarter valued at about $41,000. Institutional investors own 83.67% of the company’s stock.

BLK traded down $1.22 during trading on Friday, reaching $463.00. The company had a trading volume of 483,998 shares, compared to its average volume of 545,110. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.11 and a current ratio of 1.11. BlackRock, Inc. has a 12 month low of $360.79 and a 12 month high of $557.00. The firm has a market cap of $73.36 billion, a P/E ratio of 17.19, a PEG ratio of 1.67 and a beta of 1.44.

BlackRock (NYSE:BLK) last announced its quarterly earnings results on Tuesday, April 16th. The asset manager reported $6.61 earnings per share for the quarter, beating the Zacks’ consensus estimate of $6.13 by $0.48. The firm had revenue of $3.35 billion for the quarter, compared to analyst estimates of $3.30 billion. BlackRock had a net margin of 30.58% and a return on equity of 13.35%. The business’s revenue was down 6.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $6.48 earnings per share. On average, sell-side analysts anticipate that BlackRock, Inc. will post 27.78 earnings per share for the current fiscal year.

In related news, Chairman Laurence Fink sold 31,250 shares of the company’s stock in a transaction dated Tuesday, April 30th. The shares were sold at an average price of $481.79, for a total value of $15,055,937.50. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Jeff A. Smith sold 75 shares of the company’s stock in a transaction dated Monday, April 29th. The shares were sold at an average price of $479.40, for a total transaction of $35,955.00. The disclosure for this sale can be found here. In the last three months, insiders sold 88,346 shares of company stock worth $39,030,645. 1.42% of the stock is currently owned by insiders.

Several equities research analysts have weighed in on BLK shares. Bank of America restated a “buy” rating and issued a $498.00 price objective (up previously from $490.00) on shares of BlackRock in a research report on Friday, March 8th. Deutsche Bank lifted their price target on shares of BlackRock from $428.00 to $431.00 and gave the stock a “hold” rating in a research report on Friday, March 15th. Wells Fargo & Co reiterated a “hold” rating and set a $425.00 price target (up previously from $410.00) on shares of BlackRock in a research report on Wednesday, January 16th. Credit Suisse Group lowered their price target on shares of BlackRock from $573.00 to $529.00 and set an “outperform” rating for the company in a research report on Monday, January 14th. Finally, Zacks Investment Research upgraded shares of BlackRock from a “sell” rating to a “hold” rating in a research report on Wednesday, March 6th. Three investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $509.38.

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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.

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Institutional Ownership by Quarter for BlackRock (NYSE:BLK)

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