BlackRock $BLK Shares Bought by Marietta Wealth Management LLC

Key Points

• Marietta Wealth Management LLC increased its stake in BlackRock by 3.2% during the second quarter, now holding 9,681 shares valued at approximately $10.2 million.
• BlackRock reported a quarterly earnings of $12.05 per share, exceeding the consensus estimate of $10.41, with revenue rising to $5.42 billion, up 12.9% year-over-year.
• BlackRock announced a quarterly dividend of $5.21 per share, representing an annual yield of 1.8% and a payout ratio of 50.39%.

Marietta Wealth Management LLC increased its position in BlackRock (NYSE:BLK - Free Report) by 3.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 9,681 shares of the asset manager's stock after buying an additional 300 shares during the quarter. BlackRock comprises approximately 1.3% of Marietta Wealth Management LLC's holdings, making the stock its 25th largest position. Marietta Wealth Management LLC's holdings in BlackRock were worth $10,158,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of BLK. Royal Bank of Canada lifted its holdings in shares of BlackRock by 73.2% in the first quarter. Royal Bank of Canada now owns 1,313,350 shares of the asset manager's stock valued at $1,243,059,000 after buying an additional 555,098 shares during the period. Vanguard Group Inc. lifted its holdings in shares of BlackRock by 2.9% in the first quarter. Vanguard Group Inc. now owns 13,764,072 shares of the asset manager's stock valued at $13,027,419,000 after buying an additional 387,466 shares during the period. Goldman Sachs Group Inc. lifted its holdings in shares of BlackRock by 32.8% in the first quarter. Goldman Sachs Group Inc. now owns 1,131,919 shares of the asset manager's stock valued at $1,071,339,000 after buying an additional 279,336 shares during the period. Unisphere Establishment lifted its holdings in shares of BlackRock by 29.2% in the first quarter. Unisphere Establishment now owns 839,500 shares of the asset manager's stock valued at $794,570,000 after buying an additional 189,500 shares during the period. Finally, Alliancebernstein L.P. lifted its holdings in shares of BlackRock by 58.8% in the first quarter. Alliancebernstein L.P. now owns 381,447 shares of the asset manager's stock valued at $361,032,000 after buying an additional 141,258 shares during the period. Institutional investors and hedge funds own 80.69% of the company's stock.

BlackRock Stock Up 0.0%

NYSE:BLK opened at $1,160.75 on Friday. The firm has a market capitalization of $179.74 billion, a price-to-earnings ratio of 28.06, a PEG ratio of 2.22 and a beta of 1.45. BlackRock has a 1-year low of $773.74 and a 1-year high of $1,183.50. The company has a current ratio of 4.04, a quick ratio of 4.04 and a debt-to-equity ratio of 0.39. The business's fifty day moving average price is $1,129.67 and its 200 day moving average price is $1,028.18.

BlackRock (NYSE:BLK - Get Free Report) last posted its quarterly 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 firm 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 quarterly revenue was up 12.9% on a year-over-year basis. During the same period in the previous year, the firm earned $10.36 earnings per share. On average, sell-side analysts forecast that BlackRock will post 47.41 earnings per share for the current fiscal year.

BlackRock Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 23rd. Shareholders of record on Friday, September 5th were given a $5.21 dividend. This represents a $20.84 annualized dividend and a yield of 1.8%. The ex-dividend date of this dividend was Friday, September 5th. BlackRock's dividend payout ratio is presently 50.39%.

Analyst Ratings Changes

Several analysts have recently weighed in on BLK shares. The Goldman Sachs Group upped their price objective on BlackRock from $1,163.00 to $1,312.00 and gave the company a "buy" rating in a report on Friday. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of BlackRock in a research report on Saturday, September 27th. Keefe, Bruyette & Woods cut their target price on BlackRock from $1,247.00 to $1,224.00 and set an "outperform" rating on the stock in a research report on Wednesday, July 16th. UBS Group reaffirmed a "neutral" rating and set a $980.00 target price on shares of BlackRock in a research report on Tuesday, July 8th. Finally, BMO Capital Markets started coverage on BlackRock in a research report on Friday. They set an "outperform" rating and a $1,280.00 target price on the stock. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $1,213.67.

Insider Transactions at BlackRock

In other BlackRock news, Director J. Richard Kushel sold 17,142 shares of the company's stock in a transaction dated Wednesday, July 30th. The stock was sold at an average price of $1,120.50, for a total value of $19,207,611.00. Following the transaction, the director directly owned 61,369 shares of the company's stock, valued at $68,763,964.50. This represents a 21.83% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Rachel Lord sold 18,036 shares of the company's stock in a transaction dated Friday, July 25th. The stock was sold at an average price of $1,125.60, for a total value of $20,301,321.60. Following the completion of the transaction, the director directly owned 19,205 shares in the company, valued at approximately $21,617,148. The trade was a 48.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 66,494 shares of company stock valued at $74,694,573. 1.98% of the stock is currently owned by company insiders.

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.

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