Hazlett Burt & Watson Inc. Purchases 50 Shares of BlackRock $BLK

Hazlett Burt & Watson Inc. increased its position in BlackRock (NYSE:BLK) by 7.8% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 695 shares of the asset manager’s stock after acquiring an additional 50 shares during the period. Hazlett Burt & Watson Inc.’s holdings in BlackRock were worth $725,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Garde Capital Inc. grew its holdings in shares of BlackRock by 200.0% in the second quarter. Garde Capital Inc. now owns 27 shares of the asset manager’s stock worth $28,000 after acquiring an additional 18 shares during the period. Fairway Wealth LLC grew its holdings in shares of BlackRock by 76.5% in the first quarter. Fairway Wealth LLC now owns 30 shares of the asset manager’s stock worth $28,000 after acquiring an additional 13 shares during the period. Game Plan Financial Advisors LLC grew its holdings in shares of BlackRock by 100.0% in the first quarter. Game Plan Financial Advisors LLC now owns 30 shares of the asset manager’s stock worth $28,000 after acquiring an additional 15 shares during the period. MorganRosel Wealth Management LLC bought a new stake in shares of BlackRock in the first quarter worth $31,000. Finally, Cheviot Value Management LLC purchased a new position in BlackRock during the first quarter valued at $30,000. Institutional investors own 80.69% of the company’s stock.

BlackRock Price Performance

Shares of BlackRock stock opened at $1,132.12 on Monday. The stock’s 50-day simple moving average is $1,134.85 and its 200-day simple moving average is $1,035.56. BlackRock has a 52 week low of $773.74 and a 52 week high of $1,184.13. The company has a market capitalization of $175.31 billion, a price-to-earnings ratio of 27.37, a PEG ratio of 2.15 and a beta of 1.45. The company has a quick ratio of 4.04, a current ratio of 4.04 and a debt-to-equity ratio of 0.39.

BlackRock (NYSE:BLK) last announced its quarterly earnings data on Tuesday, July 15th. The asset manager reported $12.05 EPS for the quarter, beating the consensus estimate of $10.41 by $1.64. BlackRock had a return on equity of 15.53% and a net margin of 29.68%.The business had revenue of $5.42 billion for the quarter, compared to the consensus estimate of $5.40 billion. During the same period in the previous year, the business earned $10.36 earnings per share. The business’s revenue was up 12.9% on a year-over-year basis. As a group, analysts expect that BlackRock will post 47.41 earnings per share for the current fiscal year.

BlackRock Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 23rd. Investors of record on Friday, September 5th were given a $5.21 dividend. This represents a $20.84 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date was Friday, September 5th. BlackRock’s payout ratio is currently 50.39%.

Analyst Upgrades and Downgrades

BLK has been the topic of several analyst reports. Deutsche Bank Aktiengesellschaft lifted their target price on BlackRock from $1,221.00 to $1,300.00 and gave the company a “buy” rating in a research report on Thursday. Jefferies Financial Group lifted their target price on BlackRock from $1,196.00 to $1,325.00 and gave the company a “buy” rating in a research report on Tuesday, October 7th. The Goldman Sachs Group lifted their target price on BlackRock from $1,163.00 to $1,312.00 and gave the company a “buy” rating in a research report on Friday, October 3rd. Evercore ISI lifted their target price on BlackRock from $1,200.00 to $1,230.00 and gave the company an “outperform” rating in a research report on Thursday. Finally, TD Cowen lifted their target price on BlackRock from $1,252.00 to $1,301.00 and gave the company a “buy” rating in a research report on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $1,258.56.

Insider Transactions at BlackRock

In related news, CEO Laurence Fink sold 12,054 shares of the business’s stock in a transaction dated Friday, July 25th. The stock was sold at an average price of $1,125.43, for a total value of $13,565,933.22. Following the sale, the chief executive officer directly owned 251,697 shares in the company, valued at approximately $283,267,354.71. The trade was a 4.57% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Fabrizio Freda sold 4,434 shares of the business’s stock in a transaction dated Thursday, July 24th. The stock was sold at an average price of $1,122.81, for a total value of $4,978,539.54. Following the completion of the sale, the director owned 3,506 shares in the company, valued at $3,936,571.86. This represents a 55.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 66,494 shares of company stock valued at $74,694,573 over the last three months. Corporate insiders own 1.98% of the company’s stock.

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.