AlphaCore Capital LLC Invests $1.63 Million in BlackRock, Inc. (NYSE:BLK)

AlphaCore Capital LLC acquired a new position in BlackRock, Inc. (NYSE:BLK - Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 1,588 shares of the asset manager's stock, valued at approximately $1,628,000.

Other large investors also recently bought and sold shares of the company. Simon Quick Advisors LLC grew its stake in shares of BlackRock by 30.9% during the 4th quarter. Simon Quick Advisors LLC now owns 352 shares of the asset manager's stock valued at $361,000 after purchasing an additional 83 shares during the period. Bartlett & CO. Wealth Management LLC grew its stake in shares of BlackRock by 1.8% during the 4th quarter. Bartlett & CO. Wealth Management LLC now owns 1,685 shares of the asset manager's stock valued at $1,727,000 after acquiring an additional 30 shares during the period. Beacon Investment Advisory Services Inc. bought a new position in shares of BlackRock during the 4th quarter valued at approximately $279,000. Red Door Wealth Management LLC grew its stake in shares of BlackRock by 24.0% during the 4th quarter. Red Door Wealth Management LLC now owns 491 shares of the asset manager's stock valued at $503,000 after acquiring an additional 95 shares during the period. Finally, Brighton Jones LLC grew its stake in shares of BlackRock by 23.1% during the 4th quarter. Brighton Jones LLC now owns 1,575 shares of the asset manager's stock valued at $1,615,000 after acquiring an additional 296 shares during the period. 80.69% of the stock is currently owned by institutional investors.

Insider Activity at BlackRock

In related news, Director J. Richard Kushel sold 10,000 shares of the business's stock in a transaction on Thursday, April 24th. The stock was sold at an average price of $912.50, for a total transaction of $9,125,000.00. Following the completion of the transaction, the director now directly owns 66,034 shares of the company's stock, valued at $60,256,025. The trade was a 13.15% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In the last 90 days, insiders have sold 12,430 shares of company stock worth $11,237,249. 1.98% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

BLK has been the topic of a number of research analyst reports. Wall Street Zen raised BlackRock to a "hold" rating in a report on Saturday, May 24th. TD Cowen lowered their price target on BlackRock from $1,251.00 to $1,032.00 and set a "buy" rating on the stock in a report on Wednesday, April 9th. Citigroup lowered their price target on BlackRock from $1,200.00 to $1,100.00 and set a "buy" rating on the stock in a report on Monday, April 14th. JPMorgan Chase & Co. lowered their price target on BlackRock from $1,046.00 to $988.00 and set a "neutral" rating on the stock in a report on Monday, April 14th. Finally, Morgan Stanley lowered their price target on BlackRock from $1,275.00 to $1,124.00 and set an "overweight" rating on the stock in a report on Monday, April 7th. Three research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, BlackRock has a consensus rating of "Moderate Buy" and an average price target of $1,077.08.

BlackRock Price Performance

Shares of NYSE:BLK traded up $3.23 during trading on Thursday, reaching $974.51. The stock had a trading volume of 157,408 shares, compared to its average volume of 691,345. The company has a debt-to-equity ratio of 0.45, a quick ratio of 5.23 and a current ratio of 5.23. The business has a fifty day moving average price of $922.04 and a 200-day moving average price of $976.40. The stock has a market cap of $150.98 billion, a PE ratio of 23.20, a PEG ratio of 1.90 and a beta of 1.41. BlackRock, Inc. has a 1-year low of $752.30 and a 1-year high of $1,084.22.

BlackRock (NYSE:BLK - Get Free Report) last released its quarterly earnings data on Friday, April 11th. The asset manager reported $11.30 earnings per share for the quarter, topping analysts' consensus estimates of $10.84 by $0.46. BlackRock had a return on equity of 16.32% and a net margin of 31.21%. The company had revenue of $5.28 billion for the quarter, compared to analyst estimates of $5.47 billion. During the same quarter in the previous year, the company posted $9.81 earnings per share. The firm's revenue for the quarter was up 11.6% compared to the same quarter last year. On average, equities analysts forecast that BlackRock, Inc. will post 47.41 earnings per share for the current fiscal year.

BlackRock Dividend Announcement

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

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.