Oak Harvest Investment Services Buys 1,582,159 Shares of BlackRock $BLK

Oak Harvest Investment Services raised its holdings in shares of BlackRock (NYSE:BLK) by 12,176.1% during the 4th quarter, HoldingsChannel reports. The fund owned 1,595,153 shares of the asset manager’s stock after purchasing an additional 1,582,159 shares during the period. BlackRock accounts for approximately 65.3% of Oak Harvest Investment Services’ portfolio, making the stock its biggest holding. Oak Harvest Investment Services’ holdings in BlackRock were worth $1,707,356,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently bought and sold shares of BLK. Pacifica Partners Inc. grew its stake in BlackRock by 450.0% during the 3rd quarter. Pacifica Partners Inc. now owns 22 shares of the asset manager’s stock valued at $25,000 after acquiring an additional 18 shares in the last quarter. TruNorth Capital Management LLC grew its stake in shares of BlackRock by 1,000.0% in the 3rd quarter. TruNorth Capital Management LLC now owns 22 shares of the asset manager’s stock valued at $26,000 after buying an additional 20 shares in the last quarter. Hopwood Financial Services Inc. grew its stake in shares of BlackRock by 866.7% in the 3rd quarter. Hopwood Financial Services Inc. now owns 29 shares of the asset manager’s stock valued at $34,000 after buying an additional 26 shares in the last quarter. Collier Financial bought a new stake in shares of BlackRock in the 3rd quarter valued at approximately $36,000. Finally, Goodman Advisory Group LLC bought a new stake in shares of BlackRock in the 3rd quarter valued at approximately $37,000. Hedge funds and other institutional investors own 80.69% of the company’s stock.

Insider Transactions at BlackRock

In other news, Director Stephen Cohen sold 2,179 shares of the company’s stock in a transaction that occurred on Wednesday, February 11th. The stock was sold at an average price of $1,073.87, for a total transaction of $2,339,962.73. Following the completion of the transaction, the director directly owned 6,543 shares in the company, valued at $7,026,331.41. The trade was a 24.98% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Robert L. Goldstein sold 54,190 shares of the company’s stock in a transaction that occurred on Tuesday, February 10th. The stock was sold at an average price of $1,087.29, for a total value of $58,920,245.10. Following the transaction, the chief operating officer owned 51,478 shares of the company’s stock, valued at approximately $55,971,514.62. This trade represents a 51.28% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 84,272 shares of company stock worth $92,323,426 over the last three months. 1.98% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on BLK shares. TD Cowen lowered their price target on BlackRock from $1,238.00 to $1,105.00 and set a “hold” rating for the company in a research note on Thursday, April 9th. Morgan Stanley boosted their price target on BlackRock from $1,368.00 to $1,393.00 and gave the company an “overweight” rating in a research note on Wednesday. Wall Street Zen upgraded BlackRock from a “sell” rating to a “hold” rating in a report on Saturday, January 17th. Barclays boosted their target price on BlackRock from $1,290.00 to $1,310.00 and gave the stock an “overweight” rating in a report on Wednesday. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on BlackRock from $1,296.00 to $1,380.00 in a report on Thursday, January 15th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, BlackRock currently has an average rating of “Moderate Buy” and a consensus price target of $1,266.28.

Key Headlines Impacting BlackRock

Here are the key news stories impacting BlackRock this week:

• Positive Sentiment: Q1 results beat expectations — BlackRock reported stronger-than-expected revenue and EPS with healthy net inflows, which supports fee growth and the stock’s rally. BlackRock, Inc. Just Beat Earnings Expectations
• Positive Sentiment: Senior management bullish — Rick Rieder highlighted “extraordinary” equity technicals and strong earnings momentum on Bloomberg, reinforcing a risk-on view that can attract flows into BlackRock products. BlackRock’s Rieder Says Equity Technicals Are Extraordinary
• Positive Sentiment: Analyst support and higher targets — Recent analyst notes and a new UBS price target lift sentiment and provide cover for buyers after the earnings print. BlackRock Given New $1,270.00 Price Target at UBS Group
• Positive Sentiment: Media endorsements and product demand — Commentary (including Jim Cramer) and attention to BlackRock’s private-credit capabilities and high-yield iShares ETFs may support asset-gathering prospects. Jim Cramer Highlights “BlackRock Has Good Private Credit”
• Neutral Sentiment: Product innovation / retirement flows — Coverage about private assets possibly entering 401(k)s and interest in BlackRock dividend/high-yield ETFs could expand addressable market over time, but adoption and regulation are still uncertain. Private Assets Could Join Your 401(k): What You Need To Know 5 Best High-Yield BlackRock Dividend ETFs Paying Over 5%
• Negative Sentiment: Private-credit liquidity concerns — Investors remain wary after a March cap on quarterly repurchases at BlackRock’s HPS corporate-lending vehicle and softer quarter-end AUM versus year-end, which pressured sentiment and prompted a post-earnings pullback earlier in the week. BlackRock slips 3.2% as investors digest Q1 results and lingering private-credit concerns
• Negative Sentiment: Investor lawsuit inquiry — Pomerantz has opened an investigation into BLK investor claims; legal action can create headline risk and potential costs, keeping some investors cautious. Pomerantz Law Firm Investigates Claims On Behalf of Investors of BlackRock

BlackRock Stock Up 2.7%

BLK opened at $1,052.56 on Friday. The business has a 50 day moving average price of $1,012.55 and a 200 day moving average price of $1,067.73. BlackRock has a twelve month low of $845.82 and a twelve month high of $1,219.94. The company has a debt-to-equity ratio of 0.37, a quick ratio of 2.98 and a current ratio of 2.98. The firm has a market cap of $163.71 billion, a P/E ratio of 26.42, a price-to-earnings-growth ratio of 1.41 and a beta of 1.48.

BlackRock (NYSE:BLK) last issued its quarterly earnings results on Tuesday, April 14th. The asset manager reported $12.53 EPS for the quarter, topping analysts’ consensus estimates of $12.40 by $0.13. BlackRock had a return on equity of 14.96% and a net margin of 24.40%.The company had revenue of $6.70 billion during the quarter, compared to analyst estimates of $6.56 billion. During the same period in the previous year, the company earned $9.64 earnings per share. The company’s quarterly revenue was up 27.0% compared to the same quarter last year. Research analysts forecast that BlackRock will post 47.41 EPS for the current year.

About BlackRock

BlackRock, Inc is a global investment management firm that provides a broad range of products and services to institutional, intermediary and individual investors. Its core activities include portfolio management across active and index strategies, exchange-traded funds (ETFs) under the iShares brand, fixed income, equity and multi-asset solutions, as well as alternatives such as private equity, real estate and infrastructure. The firm also offers cash management and liquidity solutions and retirement-focused products designed for defined contribution and defined benefit investors.

In addition to traditional investment management, BlackRock is known for its technology and risk management capabilities, most prominently its Aladdin platform, which combines portfolio management, trading and risk analytics and is used both internally and licensed to external clients.