Adell Harriman & Carpenter Inc. Makes New $7.99 Million Investment in BlackRock (NYSE:BLK)

Adell Harriman & Carpenter Inc. purchased a new stake in BlackRock (NYSE:BLK - Free Report) in the 1st quarter, according to its most recent filing with the SEC. The fund purchased 8,440 shares of the asset manager's stock, valued at approximately $7,989,000.

Several other institutional investors also recently bought and sold shares of the business. Mascoma Wealth Management LLC increased its stake in shares of BlackRock by 9.5% during the 4th quarter. Mascoma Wealth Management LLC now owns 127 shares of the asset manager's stock worth $130,000 after purchasing an additional 11 shares during the last quarter. Hazlett Burt & Watson Inc. increased its stake in shares of BlackRock by 2.1% during the 4th quarter. Hazlett Burt & Watson Inc. now owns 534 shares of the asset manager's stock worth $542,000 after purchasing an additional 11 shares during the last quarter. Annis Gardner Whiting Capital Advisors LLC increased its stake in shares of BlackRock by 4.5% during the 4th quarter. Annis Gardner Whiting Capital Advisors LLC now owns 257 shares of the asset manager's stock worth $263,000 after purchasing an additional 11 shares during the last quarter. Detalus Advisors LLC increased its stake in shares of BlackRock by 2.8% during the 1st quarter. Detalus Advisors LLC now owns 409 shares of the asset manager's stock worth $387,000 after purchasing an additional 11 shares during the last quarter. Finally, Truvestments Capital LLC increased its stake in shares of BlackRock by 10.8% during the 4th quarter. Truvestments Capital LLC now owns 123 shares of the asset manager's stock worth $126,000 after purchasing an additional 12 shares during the last quarter. 80.69% of the stock is currently owned by institutional investors and hedge funds.

BlackRock Stock Performance

Shares of NYSE:BLK traded down $0.05 on Tuesday, reaching $1,075.92. 498,806 shares of the company's stock were exchanged, compared to its average volume of 796,955. The company has a fifty day moving average of $982.91 and a 200-day moving average of $969.29. BlackRock has a twelve month low of $773.74 and a twelve month high of $1,086.84. The company has a current ratio of 4.34, a quick ratio of 4.34 and a debt-to-equity ratio of 0.38. The company has a market capitalization of $166.69 billion, a price-to-earnings ratio of 26.14, a PEG ratio of 3.26 and a beta of 1.41.

BlackRock (NYSE:BLK - Get Free Report) last released its quarterly 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 30.09% and a return on equity of 15.57%. The firm had revenue of $5.28 billion during the quarter, compared to the consensus estimate of $5.47 billion. During the same quarter last year, the firm earned $9.81 earnings per share. The company's revenue for the quarter was up 11.6% on a year-over-year basis. On average, research analysts predict that BlackRock will post 47.41 EPS for the current fiscal year.

BlackRock Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 23rd. Investors of record on Thursday, June 5th were paid a dividend of $5.21 per share. This represents a $20.84 dividend on an annualized basis and a yield of 1.94%. The ex-dividend date of this dividend was Thursday, June 5th. BlackRock's dividend payout ratio is presently 50.63%.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on BLK. Wall Street Zen upgraded shares of BlackRock to a "hold" rating in a research note on Saturday, May 24th. Argus reiterated a "buy" rating on shares of BlackRock in a research note on Tuesday. UBS Group reiterated a "neutral" rating and issued a $980.00 price target on shares of BlackRock in a research note on Tuesday. TD Cowen decreased their price target on shares of BlackRock from $1,251.00 to $1,032.00 and set a "buy" rating on the stock in a research note on Wednesday, April 9th. Finally, Barclays upped their price target on shares of BlackRock from $950.00 to $990.00 and gave the company an "overweight" rating in a research note on Monday, April 14th. Three analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $1,108.62.

Insiders Place Their Bets

In other news, Director J. Richard Kushel sold 10,000 shares of the business's stock in a transaction dated Thursday, April 24th. The shares were sold at an average price of $912.50, for a total transaction of $9,125,000.00. Following the completion of the sale, the director directly owned 66,034 shares of the company's stock, valued at $60,256,025. The trade was a 13.15% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 1.98% of the stock is owned by corporate insiders.

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.