Bogart Wealth LLC Purchases 1,635 Shares of BlackRock $BLK

Key Points

• Bogart Wealth LLC increased its BlackRock stake by 23.1% in the first quarter, buying 1,635 additional shares and bringing its total holding to 8,718 shares worth about $8.38 million.
• BlackRock continues to attract heavy institutional ownership, with large firms like Vanguard, State Street, and others also adding to positions; overall, 80.69% of the stock is owned by institutional investors.
• Analyst sentiment remains positive despite mixed target changes, and BlackRock recently beat quarterly earnings estimates, reporting $12.53 EPS and $6.70 billion in revenue, while also paying a $5.73 quarterly dividend.

Bogart Wealth LLC increased its position in shares of BlackRock (NYSE:BLK - Free Report) by 23.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 8,718 shares of the asset manager's stock after acquiring an additional 1,635 shares during the period. Bogart Wealth LLC's holdings in BlackRock were worth $8,384,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in BlackRock by 1.6% during the fourth quarter. Vanguard Group Inc. now owns 14,062,677 shares of the asset manager's stock worth $15,051,846,000 after purchasing an additional 221,123 shares during the last quarter. State Street Corp increased its stake in shares of BlackRock by 0.5% in the 4th quarter. State Street Corp now owns 6,264,545 shares of the asset manager's stock valued at $6,705,193,000 after purchasing an additional 33,752 shares during the last quarter. Corient Private Wealth LLC increased its stake in shares of BlackRock by 5,190.3% in the 4th quarter. Corient Private Wealth LLC now owns 5,490,422 shares of the asset manager's stock valued at $5,876,618,000 after purchasing an additional 5,386,640 shares during the last quarter. Bank of America Corp DE raised its holdings in shares of BlackRock by 3.0% during the 4th quarter. Bank of America Corp DE now owns 5,197,904 shares of the asset manager's stock worth $5,563,524,000 after buying an additional 149,902 shares in the last quarter. Finally, Capital Research Global Investors lifted its position in shares of BlackRock by 0.3% during the 4th quarter. Capital Research Global Investors now owns 3,838,937 shares of the asset manager's stock worth $4,108,968,000 after buying an additional 12,019 shares during the last quarter. 80.69% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several analysts recently weighed in on the company. Jefferies Financial Group reduced their price objective on BlackRock from $1,351.00 to $1,199.00 and set a "buy" rating on the stock in a research note on Wednesday, April 8th. BMO Capital Markets boosted their target price on BlackRock from $1,200.00 to $1,250.00 and gave the stock an "outperform" rating in a research note on Monday, April 20th. TD Cowen reduced their price target on shares of BlackRock from $1,238.00 to $1,105.00 and set a "hold" rating on the stock in a research note on Thursday, April 9th. Barclays lifted their price target on shares of BlackRock from $1,290.00 to $1,310.00 and gave the company an "overweight" rating in a report on Wednesday, April 15th. Finally, UBS Group upped their price objective on shares of BlackRock from $1,235.00 to $1,270.00 and gave the stock a "buy" rating in a research report on Wednesday, April 15th. One research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, BlackRock presently has an average rating of "Moderate Buy" and an average price target of $1,269.44.

Insider Buying and Selling

In related news, CEO Laurence Fink sold 33,900 shares of the firm's stock in a transaction that occurred on Tuesday, April 28th. The shares were sold at an average price of $1,050.55, for a total value of $35,613,645.00. Following the completion of the transaction, the chief executive officer owned 230,516 shares in the company, valued at $242,168,583.80. This trade represents a 12.82% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, President Robert Kapito sold 8,739 shares of BlackRock 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 transaction of $9,233,627.40. Following the sale, the president owned 210,186 shares in the company, valued at approximately $222,082,527.60. This represents a 3.99% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 1.92% of the stock is owned by company insiders.

BlackRock News Roundup

Here are the key news stories impacting BlackRock this week:

• Positive Sentiment: BlackRock’s ETFs were included in the Treasury’s approved lineup for Trump Accounts, potentially expanding assets and visibility for the firm’s flagship products. Reference
• Positive Sentiment: Articles highlighted continued analyst optimism around BlackRock’s earnings setup, with expectations that the company could beat estimates again when it reports next quarter. Article: Will BlackRock (BLK) Beat Estimates Again in Its Next Earnings Report?
• Positive Sentiment: Tokenized versions of BlackRock’s IVV ETF were launched by Ondo Finance under SEC guidance, reinforcing BlackRock’s relevance in the growing onchain asset market. Article: BlackRock (BLK) Stock Fair Value Edges Higher As Analysts Debate Earnings And Flows
• Neutral Sentiment: BlackRock also disclosed a small reduction in its voting stake in Umicore, but the filing appears routine and unlikely to materially affect BLK shares. Article: Umicore - Transparency notification by BlackRock, Inc.
• Neutral Sentiment: Crypto headlines were mixed, with Bitcoin ETF outflows and broader crypto weakness offset by growing demand for BlackRock’s tokenized BUIDL product. Article: Yield-bearing stablecoin slowdown ends three-year run for crypto-native products

BlackRock Trading Down 0.1%

Shares of BLK stock opened at $994.50 on Monday. The firm has a market capitalization of $154.38 billion, a P/E ratio of 24.96, a P/E/G ratio of 1.28 and a beta of 1.43. BlackRock has a twelve month low of $917.39 and a twelve month high of $1,219.94. The company has a quick ratio of 4.09, a current ratio of 4.09 and a debt-to-equity ratio of 0.34. The stock's fifty day simple moving average is $1,038.02 and its 200 day simple moving average is $1,045.71.

BlackRock (NYSE:BLK - Get Free Report) last posted its earnings results on Tuesday, April 14th. The asset manager reported $12.53 EPS for the quarter, beating the consensus estimate of $12.40 by $0.13. BlackRock had a return on equity of 14.74% and a net margin of 24.40%.The firm had revenue of $6.70 billion during the quarter, compared to the consensus estimate of $6.56 billion. During the same period last year, the company earned $9.64 earnings per share. The business's quarterly revenue was up 27.0% on a year-over-year basis. As a group, sell-side analysts predict that BlackRock will post 53.34 EPS for the current fiscal year.

BlackRock Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 23rd. Stockholders of record on Friday, June 5th were paid a $5.73 dividend. The ex-dividend date of this dividend was Friday, June 5th. This represents a $22.92 annualized dividend and a dividend yield of 2.3%. BlackRock's dividend payout ratio is currently 57.53%.

BlackRock Company Profile

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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