Birinyi Associates Inc Has $2.65 Million Stock Holdings in BlackRock $BLK

Key Points

• Birinyi Associates Inc cut its BlackRock stake by 39.2% in the fourth quarter, selling 1,596 shares and ending with 2,480 shares worth about $2.65 million.
• Institutional ownership of BlackRock remains high, with several large investors adding to positions, and 80.69% of the stock is held by institutions and hedge funds.
• Analysts remain generally positive despite some price-target cuts: the stock has a Moderate Buy consensus, and BlackRock recently beat quarterly EPS and revenue estimates while also declaring a $5.73 quarterly dividend.

Birinyi Associates Inc trimmed its holdings in BlackRock (NYSE:BLK - Free Report) by 39.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,480 shares of the asset manager's stock after selling 1,596 shares during the quarter. BlackRock comprises about 0.7% of Birinyi Associates Inc's portfolio, making the stock its 24th biggest position. Birinyi Associates Inc's holdings in BlackRock were worth $2,654,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in BLK. Norges Bank acquired a new position in shares of BlackRock in the 4th quarter valued at about $2,742,680,000. Oak Harvest Investment Services lifted its stake in shares of BlackRock by 12,176.1% in the 4th quarter. Oak Harvest Investment Services now owns 1,595,153 shares of the asset manager's stock valued at $1,707,356,000 after purchasing an additional 1,582,159 shares during the period. Blue Owl Capital Holdings LP acquired a new position in shares of BlackRock in the 4th quarter valued at about $1,012,487,000. Viking Global Investors LP lifted its stake in shares of BlackRock by 217.5% in the 3rd quarter. Viking Global Investors LP now owns 619,492 shares of the asset manager's stock valued at $722,247,000 after purchasing an additional 424,388 shares during the period. Finally, Vanguard Group Inc. lifted its stake in shares of BlackRock by 1.6% in the 4th quarter. Vanguard Group Inc. now owns 14,062,677 shares of the asset manager's stock valued at $15,051,846,000 after purchasing an additional 221,123 shares during the period. 80.69% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have recently issued reports on BLK shares. JPMorgan Chase & Co. dropped their price objective on BlackRock from $1,269.00 to $1,128.00 and set a "neutral" rating on the stock in a research note on Monday, April 13th. TD Cowen cut their price target on BlackRock from $1,238.00 to $1,105.00 and set a "hold" rating on the stock in a report on Thursday, April 9th. Jefferies Financial Group reduced their price objective on BlackRock from $1,351.00 to $1,199.00 and set a "buy" rating for the company in a research note on Wednesday, April 8th. Weiss Ratings raised BlackRock from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Wednesday, May 13th. Finally, Barclays increased their target price on BlackRock from $1,290.00 to $1,310.00 and gave the stock an "overweight" rating in a report on Wednesday, April 15th. One analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and three have assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $1,269.06.

Insider Activity at BlackRock

In other news, CEO Laurence Fink sold 33,900 shares of the stock in a transaction that occurred on Tuesday, April 28th. The stock was sold at an average price of $1,050.55, for a total value of $35,613,645.00. Following the completion of the sale, the chief executive officer directly owned 230,516 shares of the company's stock, valued at $242,168,583.80. This represents a 12.82% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, President Robert Kapito sold 8,739 shares of the stock in a transaction that occurred on Monday, April 27th. The stock was sold at an average price of $1,056.60, for a total value of $9,233,627.40. Following the completion of the sale, the president directly owned 210,186 shares of the company's stock, valued at approximately $222,082,527.60. This trade represents a 3.99% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 1.92% of the company's stock.

More BlackRock News

Here are the key news stories impacting BlackRock this week:

• Positive Sentiment: Several articles framed BlackRock as a strong dividend stock, which can support investor interest in BLK’s income profile and overall quality reputation. Why BlackRock (BLK) is a Great Dividend Stock Right Now
• Positive Sentiment: BlackRock’s recent earnings strength remains a backdrop for the stock, with the company having reported better-than-expected EPS and revenue in its latest quarter. This reinforces confidence in the firm’s fundamentals. BlackRock Scales Back Equities After ‘Generational’ Earnings
• Neutral Sentiment: BlackRock is trimming stock exposure in its model portfolios after a strong run in U.S. equities. That suggests a more cautious near-term stance, but it is more of an asset-allocation decision than a direct hit to BLK’s earnings. BlackRock Scales Back Equities After ‘Generational’ Earnings
• Neutral Sentiment: Texas is shifting its Bitcoin reserve from BlackRock’s IBIT ETF to direct custody, but the allocation is small and the move reflects a change in custody preference rather than a broad rejection of BlackRock’s crypto platform. Texas Bitcoin reserve plans shift from ETF to direct custody
• Negative Sentiment: U.S. spot Bitcoin ETFs saw large outflows, and BlackRock’s IBIT accounted for the biggest share of redemptions. That can weigh on sentiment around one of BLK’s most visible growth products. U.S. Bitcoin Spot ETFs Hit by $228M Outflow as IBIT Sees Heavy Exit
• Negative Sentiment: Additional reports said IBIT had near-record outflows as Bitcoin fell below $75,000, suggesting investors are pulling back from the product during the crypto selloff. BlackRock Bitcoin ETF sees near-record outflows as BTC dips below $75K
• Negative Sentiment: Another report described a large single-day withdrawal from a BlackRock ETF, reinforcing concerns that crypto ETF flows are weakening and may be creating short-term pressure on BLK sentiment. Mysterious trader dumps $1B from BlackRock ETF
• Negative Sentiment: BlackRock’s IBIT also saw heavy daily outflows in the latest ETF flow data, which may be contributing to the stock’s softer tone today. Texas Shifts Bitcoin Holdings from ETF to Direct Custody Control

BlackRock Stock Performance

Shares of BlackRock stock opened at $1,045.88 on Monday. The company has a market cap of $162.35 billion, a PE ratio of 26.25, a price-to-earnings-growth ratio of 1.36 and a beta of 1.42. BlackRock has a 52 week low of $917.39 and a 52 week high of $1,219.94. The business has a 50 day moving average price of $1,029.75 and a 200-day moving average price of $1,053.49. The company has a quick ratio of 4.09, a current ratio of 4.09 and a debt-to-equity ratio of 0.34.

BlackRock (NYSE:BLK - Get Free Report) last issued its quarterly earnings data on Tuesday, April 14th. The asset manager reported $12.53 EPS for the quarter, topping the consensus estimate of $12.40 by $0.13. The firm had revenue of $6.70 billion during the quarter, compared to the consensus estimate of $6.56 billion. BlackRock had a return on equity of 14.74% and a net margin of 24.40%.The company's quarterly revenue was up 27.0% compared to the same quarter last year. During the same period in the prior year, the business posted $9.64 earnings per share. Equities analysts anticipate that BlackRock will post 52.8 earnings per share for the current fiscal year.

BlackRock Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 23rd. Stockholders of record on Friday, June 5th will be paid a $5.73 dividend. The ex-dividend date of this dividend is Friday, June 5th. This represents a $22.92 annualized dividend and a dividend yield of 2.2%. BlackRock's dividend payout ratio is 57.53%.

About BlackRock

BlackRock, Inc is a global investment management firm that provides a broad range of products and services to institutional, intermediary and individual investors. Its core activities include portfolio management across active and index strategies, exchange-traded funds (ETFs) under the iShares brand, fixed income, equity and multi-asset solutions, as well as alternatives such as private equity, real estate and infrastructure. The firm also offers cash management and liquidity solutions and retirement-focused products designed for defined contribution and defined benefit investors.

In addition to traditional investment management, BlackRock is known for its technology and risk management capabilities, most prominently its Aladdin platform, which combines portfolio management, trading and risk analytics and is used both internally and licensed to external clients.

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