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.
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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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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