AlphaCore Capital LLC Purchases New Stake in BlackRock, Inc. (NYSE:BLK)

AlphaCore Capital LLC purchased a new stake in BlackRock, Inc. (NYSE:BLK - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 1,588 shares of the asset manager's stock, valued at approximately $1,628,000.

A number of other hedge funds also recently made changes to their positions in BLK. IAG Wealth Partners LLC acquired a new stake in shares of BlackRock during the fourth quarter worth approximately $26,000. Investment Management Corp VA ADV acquired a new stake in shares of BlackRock during the fourth quarter worth approximately $30,000. Collier Financial acquired a new stake in shares of BlackRock during the fourth quarter worth approximately $32,000. Compass Planning Associates Inc acquired a new position in BlackRock in the fourth quarter worth $33,000. Finally, Synergy Investment Management LLC acquired a new position in BlackRock in the fourth quarter worth $40,000. Hedge funds and other institutional investors own 80.69% of the company's stock.

Insiders Place Their Bets

In other news, Director J. Richard Kushel sold 2,000 shares of the firm's stock in a transaction on Monday, April 21st. The stock was sold at an average price of $852.01, for a total value of $1,704,020.00. Following the completion of the sale, the director now directly owns 66,034 shares in the company, valued at approximately $56,261,628.34. This trade represents a 2.94% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Insiders sold 12,430 shares of company stock worth $11,237,249 over the last three months. 1.98% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of research firms have commented on BLK. Citigroup decreased their price objective on shares of BlackRock from $1,200.00 to $1,100.00 and set a "buy" rating for the company in a report on Monday, April 14th. UBS Group dropped their price target on shares of BlackRock from $1,045.00 to $1,010.00 and set a "neutral" rating on the stock in a research report on Friday, April 11th. Bank of America dropped their target price on BlackRock from $1,196.00 to $1,178.00 and set a "buy" rating on the stock in a report on Thursday, April 3rd. Morgan Stanley lowered their price target on BlackRock from $1,275.00 to $1,124.00 and set an "overweight" rating for the company in a research note on Monday, April 7th. Finally, Wells Fargo & Company lowered their price target on BlackRock from $1,065.00 to $1,035.00 and set an "overweight" rating for the company in a research note on Monday, April 14th. Three equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, BlackRock has an average rating of "Moderate Buy" and an average price target of $1,077.08.

BlackRock Stock Performance

BLK stock traded up $17.17 during midday trading on Tuesday, hitting $980.35. The stock had a trading volume of 843,123 shares, compared to its average volume of 694,531. The firm has a market capitalization of $151.88 billion, a price-to-earnings ratio of 23.34, a P/E/G ratio of 1.90 and a beta of 1.41. BlackRock, Inc. has a 52 week low of $752.30 and a 52 week high of $1,084.22. The stock has a 50-day simple moving average of $921.10 and a 200 day simple moving average of $976.41. The company has a current ratio of 5.23, a quick ratio of 5.23 and a debt-to-equity ratio of 0.45.

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

BlackRock Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 23rd. Shareholders of record on Thursday, June 5th will be paid a dividend of $5.21 per share. The ex-dividend date of this dividend is Thursday, June 5th. This represents a $20.84 annualized dividend and a yield of 2.13%. BlackRock's dividend payout ratio is currently 50.63%.

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.