AdvisorNet Financial Inc Buys 4,787 Shares of BlackRock $BLK

AdvisorNet Financial Inc raised its position in shares of BlackRock (NYSE:BLK - Free Report) by 707.1% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 5,464 shares of the asset manager's stock after acquiring an additional 4,787 shares during the quarter. AdvisorNet Financial Inc's holdings in BlackRock were worth $5,782,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. BlackRock Inc. purchased a new stake in shares of BlackRock in the 2nd quarter worth about $9,747,857,000. Corient Private Wealth LLC increased its stake in shares of BlackRock by 5,190.3% in the 4th quarter. Corient Private Wealth LLC now owns 5,490,422 shares of the asset manager's stock worth $5,876,618,000 after acquiring an additional 5,386,640 shares in the last quarter. Bank of America Corp DE purchased a new position in BlackRock during the 2nd quarter valued at about $4,409,095,000. Santa Clara Valley Transportation Authority purchased a new position in BlackRock during the 2nd quarter valued at about $129,138,253,000. Finally, Auto Owners Insurance Co lifted its position in BlackRock by 106,934.0% during the 4th quarter. Auto Owners Insurance Co now owns 1,284,408 shares of the asset manager's stock valued at $128,441,000 after acquiring an additional 1,283,208 shares during the period. Hedge funds and other institutional investors own 80.69% of the company's stock.

Analyst Ratings Changes

A number of brokerages have weighed in on BLK. TD Cowen upped their price objective on shares of BlackRock from $1,190.00 to $1,212.00 and gave the stock a "hold" rating in a report on Monday. BNP Paribas Exane raised their price objective on BlackRock from $1,300.00 to $1,350.00 and gave the company an "outperform" rating in a research report on Tuesday, June 23rd. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating and set a $1,258.00 price objective on shares of BlackRock in a research note on Thursday, July 16th. UBS Group boosted their target price on BlackRock from $1,277.00 to $1,300.00 and gave the stock a "buy" rating in a report on Thursday. Finally, Morgan Stanley dropped their target price on BlackRock from $1,479.00 to $1,468.00 and set an "overweight" rating on the stock in a report on Tuesday. One research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and two have given a Hold rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $1,312.06.

Key Stories Impacting BlackRock

Here are the key news stories impacting BlackRock this week:

• Positive Sentiment: Strong Q3 beat: BlackRock reported adjusted EPS of $15.93, above the $14.32 consensus, while revenue rose 19.1% year over year to $7.75 billion, ahead of the $7.42 billion estimate. BlackRock Q3 earnings report
• Positive Sentiment: Record inflows and AUM: The firm attracted approximately $205 billion in quarterly net inflows, helping assets under management reach about $15.5 trillion. Strong demand for iShares ETFs, fixed-income products and private-market strategies supports recurring fee growth. BlackRock Q3 profit rises on inflows
• Positive Sentiment: Analysts raised targets: JPMorgan lifted its price target to $1,449 with an overweight rating, while Keefe, Bruyette & Woods raised its target to $1,310 and maintained an outperform rating. Bank of America also reiterated a buy rating and raised its target to $1,313. Analysts raise BlackRock forecasts
• Positive Sentiment: Growth initiatives: Management highlighted AI infrastructure financing, technology revenue, margin expansion and fundraising in private markets as potential drivers of future growth, including a developing opportunity in the compute market. BlackRock earnings call on AI financing
• Neutral Sentiment: Crypto exposure remains mixed: BlackRock’s crypto ETF assets reportedly increased sharply during the quarter, but bitcoin and ether ETFs subsequently recorded roughly $391 million in combined one-day outflows, creating near-term sentiment risk. Bitcoin and Ether ETF flows
• Negative Sentiment: Macro and execution risks: CEO Larry Fink warned that halting data-center construction could damage growth and trigger a recession. BlackRock is also reducing U.S. stock exposure in favor of Treasuries, while UBS expects the firm to exit several 2030 targets early—potentially signaling that some long-term goals may be difficult to achieve. Larry Fink data-center warning

BlackRock Trading Up 4.6%

Shares of NYSE BLK opened at $1,123.32 on Friday. The firm's 50 day moving average price is $1,106.32 and its 200-day moving average price is $1,062.35. The company has a market cap of $173.97 billion, a PE ratio of 25.54, a P/E/G ratio of 1.21 and a beta of 1.41. BlackRock has a 52-week low of $917.39 and a 52-week high of $1,209.89. The company has a debt-to-equity ratio of 0.33, a quick ratio of 3.59 and a current ratio of 3.59.

BlackRock (NYSE:BLK - Get Free Report) last posted its quarterly earnings results on Wednesday, October 14th. The asset manager reported $15.93 EPS for the quarter, beating analysts' consensus estimates of $14.32 by $1.61. The firm had revenue of $7.75 billion for the quarter, compared to analysts' expectations of $7.42 billion. BlackRock had a net margin of 24.22% and a return on equity of 16.08%. The business's revenue for the quarter was up 19.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $8.43 earnings per share. On average, equities research analysts expect that BlackRock will post 55.70 EPS for the current fiscal year.

BlackRock Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 22nd. Investors of record on Tuesday, September 8th were issued a $5.73 dividend. This represents a $22.92 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date was Tuesday, September 8th. BlackRock's payout ratio is presently 52.11%.

About BlackRock

BlackRock, Inc is a global investment management and financial technology company serving individual investors, institutions, governments and financial professionals. The company provides investment management, risk management and advisory services across a broad range of asset classes, including equities, fixed income, multi-asset strategies, alternatives and cash management.

BlackRock offers investment products through mutual funds, exchange-traded funds and other vehicles. Its iShares brand is one of the company's principal platforms for exchange-traded funds, providing access to domestic and international markets, industry sectors, bonds, commodities and specialized investment strategies.

The company also provides technology and analytical solutions through its Aladdin platform, which is used by asset managers, institutional investors and other financial organizations for portfolio management, risk analysis, trading and operational support.

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