385 Shares in BlackRock, Inc. (NYSE:BLK) Purchased by Cornerstone Advisory LLC

Cornerstone Advisory LLC acquired a new position in shares of BlackRock, Inc. (NYSE:BLK - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 385 shares of the asset manager's stock, valued at approximately $375,000.

A number of other hedge funds have also bought and sold shares of BLK. Vanguard Group Inc. grew its stake in BlackRock by 0.5% in the 4th quarter. Vanguard Group Inc. now owns 13,376,606 shares of the asset manager's stock worth $13,712,493,000 after acquiring an additional 68,405 shares in the last quarter. Capital World Investors grew its stake in BlackRock by 2.3% in the fourth quarter. Capital World Investors now owns 4,097,524 shares of the asset manager's stock worth $4,200,450,000 after purchasing an additional 93,844 shares in the last quarter. Geode Capital Management LLC raised its position in BlackRock by 6.8% during the 4th quarter. Geode Capital Management LLC now owns 3,006,765 shares of the asset manager's stock valued at $3,072,787,000 after purchasing an additional 190,188 shares in the last quarter. FMR LLC lifted its holdings in shares of BlackRock by 1.1% in the 4th quarter. FMR LLC now owns 2,390,450 shares of the asset manager's stock worth $2,450,475,000 after buying an additional 26,485 shares during the period. Finally, Norges Bank purchased a new position in shares of BlackRock during the fourth quarter valued at $2,356,357,000. Institutional investors own 80.69% of the company's stock.

BlackRock Stock Down 0.6%

Shares of BLK traded down $5.43 during mid-day trading on Wednesday, reaching $975.89. The company's stock had a trading volume of 113,665 shares, compared to its average volume of 692,246. The company's 50 day moving average is $921.62 and its 200 day moving average is $976.43. The stock has a market cap of $151.19 billion, a PE ratio of 23.21, a price-to-earnings-growth ratio of 1.90 and a beta of 1.41. BlackRock, Inc. has a 12-month low of $752.30 and a 12-month high of $1,084.22. The company has a debt-to-equity ratio of 0.45, a current ratio of 5.23 and a quick ratio of 5.23.

BlackRock (NYSE:BLK - Get Free Report) last issued its earnings results on Friday, April 11th. The asset manager reported $11.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $10.84 by $0.46. BlackRock had a net margin of 31.21% and a return on equity of 16.32%. The business had revenue of $5.28 billion during the quarter, compared to analysts' expectations of $5.47 billion. During the same quarter in the prior year, the business posted $9.81 EPS. The company's revenue for the quarter was up 11.6% on a year-over-year basis. Equities analysts anticipate that BlackRock, Inc. will post 47.41 EPS for the current fiscal year.

BlackRock Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 23rd. Stockholders of record on Thursday, June 5th will be paid a $5.21 dividend. This represents a $20.84 annualized dividend and a dividend yield of 2.14%. The ex-dividend date of this dividend is Thursday, June 5th. BlackRock's dividend payout ratio (DPR) is presently 50.63%.

Insider Activity at BlackRock

In related news, Director J. Richard Kushel sold 430 shares of the company's stock in a transaction on Friday, February 28th. The shares were sold at an average price of $949.37, for a total value of $408,229.10. Following the sale, the director now directly owns 3,720 shares of the company's stock, valued at $3,531,656.40. This represents a 10.36% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders sold a total of 12,430 shares of company stock worth $11,237,249 over the last 90 days. Company insiders own 1.98% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have recently commented on BLK. Wells Fargo & Company reduced their price target on shares of BlackRock from $1,065.00 to $1,035.00 and set an "overweight" rating for the company in a report on Monday, April 14th. JPMorgan Chase & Co. decreased their price objective on shares of BlackRock from $1,046.00 to $988.00 and set a "neutral" rating for the company in a research note on Monday, April 14th. UBS Group dropped their price objective on shares of BlackRock from $1,045.00 to $1,010.00 and set a "neutral" rating on the stock in a research note on Friday, April 11th. Bank of America decreased their price target on shares of BlackRock from $1,196.00 to $1,178.00 and set a "buy" rating on the stock in a research note on Thursday, April 3rd. Finally, Barclays increased their target price on shares of BlackRock from $950.00 to $990.00 and gave the stock an "overweight" rating in a research note on Monday, April 14th. Three analysts have rated the stock with a hold rating and eleven have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $1,077.08.

BlackRock Company 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.