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Baxter Bros Inc. Raises Stock Holdings in BlackRock $BLK

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Key Points

  • Baxter Bros Inc. increased its stake in BlackRock by 25.5%, resulting in ownership of 2,921 shares valued at approximately $3.1 million at the end of the second quarter.
  • BlackRock recently reported a quarterly earnings per share of $12.05, surpassing expectations and reflecting a year-over-year revenue growth of 12.9%.
  • The company announced a quarterly dividend of $5.21 per share, which indicates an annualized dividend yield of 1.8% and a payout ratio of 50.39%.
  • MarketBeat previews the top five stocks to own by November 1st.

Baxter Bros Inc. lifted its stake in shares of BlackRock (NYSE:BLK - Free Report) by 25.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,921 shares of the asset manager's stock after purchasing an additional 594 shares during the quarter. Baxter Bros Inc.'s holdings in BlackRock were worth $3,065,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Fairway Wealth LLC raised its stake in shares of BlackRock by 76.5% during the first quarter. Fairway Wealth LLC now owns 30 shares of the asset manager's stock worth $28,000 after purchasing an additional 13 shares during the last quarter. Game Plan Financial Advisors LLC raised its stake in shares of BlackRock by 100.0% during the first quarter. Game Plan Financial Advisors LLC now owns 30 shares of the asset manager's stock worth $28,000 after purchasing an additional 15 shares during the last quarter. Garde Capital Inc. raised its stake in shares of BlackRock by 200.0% during the second quarter. Garde Capital Inc. now owns 27 shares of the asset manager's stock worth $28,000 after purchasing an additional 18 shares during the last quarter. Cheviot Value Management LLC purchased a new stake in shares of BlackRock during the first quarter worth approximately $30,000. Finally, MorganRosel Wealth Management LLC purchased a new stake in shares of BlackRock during the first quarter worth approximately $31,000. Hedge funds and other institutional investors own 80.69% of the company's stock.

BlackRock Stock Down 0.2%

BlackRock stock opened at $1,163.72 on Thursday. The company has a debt-to-equity ratio of 0.39, a quick ratio of 4.04 and a current ratio of 4.04. The firm has a market capitalization of $180.21 billion, a price-to-earnings ratio of 28.14, a price-to-earnings-growth ratio of 2.20 and a beta of 1.45. BlackRock has a fifty-two week low of $773.74 and a fifty-two week high of $1,184.13. The stock's fifty day moving average is $1,132.82 and its two-hundred day moving average is $1,032.16.

BlackRock (NYSE:BLK - Get Free Report) last posted its earnings results on Tuesday, July 15th. The asset manager reported $12.05 earnings per share for the quarter, beating the consensus estimate of $10.41 by $1.64. The company had revenue of $5.42 billion for the quarter, compared to analyst estimates of $5.40 billion. BlackRock had a return on equity of 15.53% and a net margin of 29.68%.BlackRock's revenue was up 12.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $10.36 earnings per share. Analysts predict that BlackRock will post 47.41 EPS for the current fiscal year.

BlackRock Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 23rd. Investors of record on Friday, September 5th were paid a dividend of $5.21 per share. The ex-dividend date of this dividend was Friday, September 5th. This represents a $20.84 dividend on an annualized basis and a dividend yield of 1.8%. BlackRock's dividend payout ratio (DPR) is presently 50.39%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. Evercore ISI upped their price target on BlackRock from $1,170.00 to $1,200.00 and gave the stock an "outperform" rating in a research note on Friday, September 5th. TD Cowen increased their price objective on BlackRock from $1,252.00 to $1,301.00 and gave the stock a "buy" rating in a research report on Wednesday. Telsey Advisory Group reiterated an "outperform" rating on shares of BlackRock in a research report on Tuesday, July 8th. Weiss Ratings reiterated a "buy (b-)" rating on shares of BlackRock in a research report on Wednesday. Finally, Zacks Research cut BlackRock from a "strong-buy" rating to a "hold" rating in a research report on Thursday, August 14th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, BlackRock presently has an average rating of "Moderate Buy" and an average target price of $1,254.47.

Read Our Latest Analysis on BlackRock

Insider Buying and Selling

In related news, Director Fabrizio Freda sold 4,434 shares of the stock in a transaction on Thursday, July 24th. The stock was sold at an average price of $1,122.81, for a total transaction of $4,978,539.54. Following the sale, the director owned 3,506 shares of the company's stock, valued at $3,936,571.86. This trade represents a 55.84% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Laurence Fink sold 12,054 shares of the stock in a transaction on Friday, July 25th. The shares were sold at an average price of $1,125.43, for a total value of $13,565,933.22. Following the sale, the chief executive officer directly owned 251,697 shares in the company, valued at approximately $283,267,354.71. The trade was a 4.57% decrease in their position. The disclosure for this sale can be found here. Insiders sold 66,494 shares of company stock worth $74,694,573 in the last ninety days. 1.98% of the stock is currently owned by insiders.

About BlackRock

(Free Report)

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.

See Also

Institutional Ownership by Quarter for BlackRock (NYSE:BLK)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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