Avondale Wealth Management Has $302,000 Stock Holdings in Blackstone Inc. (NYSE:BX)

Avondale Wealth Management reduced its position in shares of Blackstone Inc. (NYSE:BX) by 10.3% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,750 shares of the asset manager’s stock after selling 200 shares during the period. Avondale Wealth Management’s holdings in Blackstone were worth $302,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. West Financial Advisors LLC acquired a new position in Blackstone during the 3rd quarter worth about $27,000. Bangor Savings Bank grew its stake in shares of Blackstone by 187.5% during the fourth quarter. Bangor Savings Bank now owns 161 shares of the asset manager’s stock valued at $28,000 after purchasing an additional 105 shares during the last quarter. Strategic Investment Solutions Inc. IL bought a new position in Blackstone in the 2nd quarter worth approximately $39,000. Raleigh Capital Management Inc. boosted its position in Blackstone by 32.1% in the 3rd quarter. Raleigh Capital Management Inc. now owns 255 shares of the asset manager’s stock valued at $39,000 after buying an additional 62 shares during the last quarter. Finally, Hazlett Burt & Watson Inc. raised its position in shares of Blackstone by 57.7% during the third quarter. Hazlett Burt & Watson Inc. now owns 276 shares of the asset manager’s stock worth $43,000 after acquiring an additional 101 shares during the last quarter. 70.00% of the stock is owned by institutional investors.

Insider Activity at Blackstone

In other Blackstone news, insider John G. Finley sold 42,249 shares of the company’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $175.94, for a total value of $7,433,289.06. Following the sale, the insider now owns 387,137 shares in the company, valued at $68,112,883.78. This represents a 9.84 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 1.00% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several analysts have weighed in on BX shares. Keefe, Bruyette & Woods boosted their price objective on Blackstone from $169.00 to $175.00 and gave the stock a “market perform” rating in a report on Friday, December 20th. Piper Sandler increased their price objective on shares of Blackstone from $168.00 to $179.00 and gave the company a “neutral” rating in a report on Monday, December 23rd. Barclays upped their target price on shares of Blackstone from $174.00 to $199.00 and gave the company an “equal weight” rating in a research report on Monday, December 9th. UBS Group lifted their price objective on Blackstone from $140.00 to $160.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 16th. Finally, The Goldman Sachs Group raised their target price on Blackstone from $135.00 to $150.00 and gave the stock a “neutral” rating in a report on Friday, October 18th. Thirteen analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, Blackstone presently has a consensus rating of “Hold” and an average target price of $171.00.

Blackstone Stock Down 4.4 %

Shares of NYSE:BX traded down $7.65 during mid-day trading on Friday, reaching $166.32. 1,074,835 shares of the stock were exchanged, compared to its average volume of 1,978,898. The company has a market cap of $120.08 billion, a P/E ratio of 57.15, a P/E/G ratio of 1.63 and a beta of 1.53. The stock’s 50 day simple moving average is $180.80 and its 200-day simple moving average is $156.25. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.58. Blackstone Inc. has a one year low of $114.88 and a one year high of $200.96.

Blackstone (NYSE:BX) last announced its quarterly earnings data on Thursday, October 17th. The asset manager reported $1.01 EPS for the quarter, topping analysts’ consensus estimates of $0.91 by $0.10. The business had revenue of $2.43 billion for the quarter, compared to analyst estimates of $2.37 billion. Blackstone had a net margin of 19.46% and a return on equity of 17.53%. As a group, equities research analysts predict that Blackstone Inc. will post 4.43 EPS for the current year.

Blackstone Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, November 4th. Stockholders of record on Monday, October 28th were paid a dividend of $0.86 per share. The ex-dividend date of this dividend was Monday, October 28th. This represents a $3.44 dividend on an annualized basis and a dividend yield of 2.07%. This is a boost from Blackstone’s previous quarterly dividend of $0.82. Blackstone’s dividend payout ratio is currently 118.21%.

About Blackstone

Blackstone Inc is an alternative asset management firm specializing in real estate, private equity, hedge fund solutions, credit, secondary funds of funds, public debt and equity and multi-asset class strategies. The firm typically invests in early-stage companies. It also provide capital markets services.