Dumont & Blake Investment Advisors LLC Grows Stock Holdings in BlackRock $BLK

Dumont & Blake Investment Advisors LLC increased its position in BlackRock (NYSE:BLK) by 0.3% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,634 shares of the asset manager’s stock after purchasing an additional 10 shares during the quarter. BlackRock accounts for 1.0% of Dumont & Blake Investment Advisors LLC’s portfolio, making the stock its 20th largest position. Dumont & Blake Investment Advisors LLC’s holdings in BlackRock were worth $3,813,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Fairway Wealth LLC raised its holdings in BlackRock by 76.5% in the first quarter. Fairway Wealth LLC now owns 30 shares of the asset manager’s stock valued at $28,000 after acquiring an additional 13 shares in the last quarter. Game Plan Financial Advisors LLC raised its holdings in shares of BlackRock by 100.0% during the first quarter. Game Plan Financial Advisors LLC now owns 30 shares of the asset manager’s stock worth $28,000 after purchasing an additional 15 shares during the period. Garde Capital Inc. raised its holdings in shares of BlackRock by 200.0% during the second quarter. Garde Capital Inc. now owns 27 shares of the asset manager’s stock worth $28,000 after purchasing an additional 18 shares during the period. Cheviot Value Management LLC acquired a new stake in shares of BlackRock during the first quarter worth $30,000. Finally, MorganRosel Wealth Management LLC acquired a new stake in shares of BlackRock during the first quarter worth $31,000. 80.69% of the stock is currently owned by hedge funds and other institutional investors.

BlackRock Stock Performance

Shares of BLK opened at $1,161.63 on Friday. The firm has a 50-day moving average price of $1,140.85 and a 200 day moving average price of $1,042.82. The firm has a market capitalization of $179.88 billion, a PE ratio of 29.87, a P/E/G ratio of 2.01 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 has a 52-week low of $773.74 and a 52-week high of $1,219.94.

BlackRock (NYSE:BLK) last posted its quarterly earnings data on Tuesday, October 14th. The asset manager reported $11.55 earnings per share for the quarter, missing the consensus estimate of $11.78 by ($0.23). BlackRock had a net margin of 26.64% and a return on equity of 15.36%. The business had revenue of $6.51 billion for the quarter, compared to the consensus estimate of $6.22 billion. During the same quarter last year, the business posted $11.46 EPS. The business’s revenue for the quarter was up 25.2% on a year-over-year basis. On average, sell-side analysts anticipate 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. Shareholders of record on Friday, September 5th were issued a $5.21 dividend. This represents a $20.84 annualized dividend and a dividend yield of 1.8%. The ex-dividend date was Friday, September 5th. BlackRock’s dividend payout ratio (DPR) is presently 53.59%.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on BLK shares. Evercore ISI increased their target price on shares of BlackRock from $1,200.00 to $1,230.00 and gave the stock an “outperform” rating in a report on Thursday, October 9th. Zacks Research cut shares of BlackRock from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 14th. Wells Fargo & Company dropped their price objective on shares of BlackRock from $1,180.00 to $1,170.00 and set an “overweight” rating on the stock in a report on Wednesday, July 16th. Citigroup increased their price objective on shares of BlackRock from $1,200.00 to $1,350.00 and gave the stock a “buy” rating in a report on Monday, September 29th. Finally, Bank of America increased their price objective on shares of BlackRock from $1,394.00 to $1,456.00 and gave the stock a “buy” rating in a report on Wednesday. One analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $1,300.81.

Insider Activity

In other news, CEO Laurence Fink sold 14,828 shares of the stock in a transaction that occurred on Thursday, July 24th. The shares were sold at an average price of $1,122.28, for a total value of $16,641,167.84. Following the completion of the sale, the chief executive officer directly owned 263,751 shares of the company’s stock, valued at $296,002,472.28. This represents a 5.32% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Rachel Lord sold 18,036 shares of the stock in a transaction that occurred on Friday, July 25th. The stock was sold at an average price of $1,125.60, for a total transaction of $20,301,321.60. Following the completion of the sale, the director directly owned 19,205 shares of the company’s stock, valued at $21,617,148. This trade represents a 48.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 66,494 shares of company stock valued at $74,694,573. Corporate insiders own 1.98% of the company’s stock.

BlackRock Profile

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.