BlackRock $BLK Stock Sold by Axxcess Wealth Management LLC

Key Points

• Axxcess Wealth Management cut its BlackRock position by 49.5% in the third quarter, selling 2,188 shares and retaining 2,232 shares valued at approximately $2.36 million.
• BlackRock reported a strong quarter, with EPS of $15.93 exceeding estimates of $14.32 and revenue rising 19.1% year over year to $7.75 billion. Analysts maintain a “Moderate Buy” consensus with an average price target of $1,337.19.
• BlackRock is expanding its product lineup through a robotics-focused ETF, while strong inflows into its spot Bitcoin ETF support potential asset and fee growth; however, CEO Larry Fink warned that data-center construction delays could weigh on economic growth.

Axxcess Wealth Management LLC cut its position in shares of BlackRock (NYSE:BLK - Free Report) by 49.5% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,232 shares of the asset manager's stock after selling 2,188 shares during the quarter. Axxcess Wealth Management LLC's holdings in BlackRock were worth $2,363,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of BLK. Breakwater Capital Group boosted its stake in BlackRock by 3.8% in the 1st quarter. Breakwater Capital Group now owns 271 shares of the asset manager's stock worth $261,000 after buying an additional 10 shares during the last quarter. Stronghold Wealth Management L.L.C. grew its holdings in BlackRock by 2.9% in the 1st quarter. Stronghold Wealth Management L.L.C. now owns 359 shares of the asset manager's stock valued at $345,000 after buying an additional 10 shares during the period. Financial Management Professionals Inc. increased its stake in shares of BlackRock by 1.8% during the 2nd quarter. Financial Management Professionals Inc. now owns 564 shares of the asset manager's stock valued at $542,000 after acquiring an additional 10 shares during the last quarter. JNBA Financial Advisors increased its stake in shares of BlackRock by 1.4% during the 2nd quarter. JNBA Financial Advisors now owns 706 shares of the asset manager's stock valued at $679,000 after acquiring an additional 10 shares during the last quarter. Finally, McGlone Suttner Wealth Management Inc. increased its stake in shares of BlackRock by 0.8% during the 3rd quarter. McGlone Suttner Wealth Management Inc. now owns 1,205 shares of the asset manager's stock valued at $1,275,000 after acquiring an additional 10 shares during the last quarter. Institutional investors and hedge funds own 80.69% of the company's stock.

Key BlackRock News

Here are the key news stories impacting BlackRock this week:

• Positive Sentiment: U.S. spot Bitcoin ETFs attracted $524.8 million of inflows on October 21, with BlackRock and Fidelity accounting for most of the buying. Continued demand for BlackRock’s Bitcoin ETF could support fee revenue and asset growth. Bitcoin ETFs Draw $524.8 Million As BlackRock And Fidelity Lead
• Positive Sentiment: BlackRock launched the actively managed iShares Future Robotics and Related Technologies ETF (RBTX), expanding its AI-themed product lineup and potentially opening a new source of management fees as investor interest in robotics grows. BlackRock Introduces Active Robotics ETF
• Positive Sentiment: TD Cowen reportedly upgraded BlackRock to Buy, citing a third-quarter inflection. The action reinforces the view that improving operating trends and strong recent earnings could support further upside. BlackRock raised to Buy at TD Cowen
• Neutral Sentiment: BlackRock’s HPS Investment Partners plans to invest up to $434.6 million in TBS Energi Utama. The transaction highlights private-market expansion but its direct earnings impact is unclear. BlackRock's HPS Investment Partners Investment
• Neutral Sentiment: Ethereum ETFs returned to a modest $14.9 million net inflow after five sessions of outflows, although BlackRock’s ETHA continued to experience withdrawals. Ethereum ETFs Break Five-Day Outflow Run
• Negative Sentiment: CEO Larry Fink warned that delays in data-center construction could raise computing costs, fuel inflation and threaten economic growth, potentially pushing the U.S. toward recession. The comments raise concerns about broader market conditions and the pace of AI-related asset growth. Larry Fink Warns Data Center Slowdown Could Push US Into Recession

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on BLK shares. Truist Financial set a $1,310.00 target price on shares of BlackRock in a research report on Thursday, October 15th. Barclays lowered their target price on shares of BlackRock from $1,420.00 to $1,410.00 and set an "overweight" rating for the company in a report on Thursday, October 15th. Keefe, Bruyette & Woods upped their price target on shares of BlackRock from $1,290.00 to $1,310.00 and gave the stock an "outperform" rating in a research report on Thursday, October 15th. Jefferies Financial Group lifted their price target on shares of BlackRock from $1,222.00 to $1,260.00 and gave the company a "buy" rating in a report on Tuesday, October 6th. Finally, BNP Paribas Exane boosted their price objective on shares of BlackRock from $1,370.00 to $1,430.00 and gave the company an "outperform" rating in a research note on Thursday, October 15th. One analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $1,337.19.

BlackRock Stock Down 1.1%

Shares of NYSE:BLK opened at $1,137.00 on Friday. The company has a 50 day moving average of $1,104.55 and a two-hundred day moving average of $1,068.59. The company has a market capitalization of $176.09 billion, a price-to-earnings ratio of 20.70, a price-to-earnings-growth ratio of 1.20 and a beta of 1.41. BlackRock has a 52-week low of $917.39 and a 52-week high of $1,187.17. The company has a quick ratio of 3.59, a current ratio of 3.59 and a debt-to-equity ratio of 0.33.

BlackRock (NYSE:BLK - Get Free Report) last released its quarterly earnings results on Wednesday, October 14th. The asset manager reported $15.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $14.32 by $1.61. The firm had revenue of $7.75 billion for the quarter, compared to the consensus estimate of $7.42 billion. BlackRock had a net margin of 24.22% and a return on equity of 16.08%. The firm's quarterly revenue was up 19.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $8.43 EPS. As a group, analysts forecast that BlackRock will post 57.47 earnings per share for the current fiscal year.

BlackRock Profile

BlackRock, Inc is a global investment management and financial technology company headquartered in New York. Founded in 1988, the company provides investment, technology and advisory services to institutional and individual investors, governments, foundations and other clients worldwide.

BlackRock offers a broad range of investment products and strategies, including equity and fixed-income funds, index funds, exchange-traded funds through its iShares business, multi-asset portfolios, cash-management products and alternative investments.

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