CMH Wealth Management LLC Trims Holdings in BlackRock $BLK

Key Points

• CMH Wealth Management LLC reduced its stake in BlackRock by 4.5%, selling 340 shares and holding a total of 7,263 shares valued at approximately $7.62 million.
• BlackRock reported earnings of $12.05 per share for the last quarter, exceeding analysts' expectations of $10.41, and recorded a revenue of $5.42 billion.
• The company declared a quarterly dividend of $5.21 per share, set to be paid on September 23rd, with an annualized yield of 1.8%.

CMH Wealth Management LLC decreased its position in BlackRock (NYSE:BLK - Free Report) by 4.5% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,263 shares of the asset manager's stock after selling 340 shares during the period. BlackRock makes up approximately 1.8% of CMH Wealth Management LLC's holdings, making the stock its 25th biggest position. CMH Wealth Management LLC's holdings in BlackRock were worth $7,621,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. GAMMA Investing LLC lifted its stake in BlackRock by 104,598.9% during the 1st quarter. GAMMA Investing LLC now owns 3,500,083 shares of the asset manager's stock valued at $3,312,759,000 after acquiring an additional 3,496,740 shares during the period. Royal Bank of Canada lifted its stake in BlackRock by 73.2% during the 1st quarter. Royal Bank of Canada now owns 1,313,350 shares of the asset manager's stock valued at $1,243,059,000 after acquiring an additional 555,098 shares during the period. Vanguard Group Inc. lifted its stake in BlackRock by 2.9% during the 1st quarter. Vanguard Group Inc. now owns 13,764,072 shares of the asset manager's stock valued at $13,027,419,000 after acquiring an additional 387,466 shares during the period. Goldman Sachs Group Inc. lifted its stake in BlackRock by 32.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,131,919 shares of the asset manager's stock valued at $1,071,339,000 after acquiring an additional 279,336 shares during the period. Finally, Universal Beteiligungs und Servicegesellschaft mbH bought a new position in BlackRock during the 4th quarter valued at about $225,481,000. Institutional investors own 80.69% of the company's stock.

BlackRock Price Performance

Shares of NYSE BLK traded down $6.88 during midday trading on Tuesday, reaching $1,129.33. 209,514 shares of the stock traded hands, compared to its average volume of 727,091. The company has a debt-to-equity ratio of 0.39, a current ratio of 4.04 and a quick ratio of 4.04. The stock has a market capitalization of $174.88 billion, a PE ratio of 27.27, a P/E/G ratio of 2.19 and a beta of 1.45. BlackRock has a one year low of $773.74 and a one year high of $1,171.89. The company's 50 day moving average is $1,120.31 and its 200 day moving average is $1,014.87.

BlackRock (NYSE:BLK - Get Free Report) last issued its quarterly earnings results on Tuesday, July 15th. The asset manager reported $12.05 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $10.41 by $1.64. The company had revenue of $5.42 billion during the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same period last year, the company earned $10.36 earnings per share. On average, equities research analysts anticipate that BlackRock will post 47.41 earnings per share for the current year.

BlackRock Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 23rd. Investors of record on Friday, September 5th will be given a $5.21 dividend. The ex-dividend date is Friday, September 5th. This represents a $20.84 dividend on an annualized basis and a yield of 1.8%. BlackRock's dividend payout ratio (DPR) is currently 50.39%.

Insider Buying and Selling

In related news, Director J. Richard Kushel sold 17,142 shares of the firm's stock in a transaction on 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 completion of the sale, the director directly owned 61,369 shares in the company, valued at $68,763,964.50. This trade represents a 21.83% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Rachel Lord sold 18,036 shares of the stock in a transaction on 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 sale, the director owned 19,205 shares in the company, valued at approximately $21,617,148. The trade was a 48.43% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 66,494 shares of company stock valued at $74,694,573 in the last three months. Corporate insiders own 1.98% of the company's stock.

Analysts Set New Price Targets

Several research firms have issued reports on BLK. UBS Group restated a "neutral" rating and set a $980.00 target price on shares of BlackRock in a research note on Tuesday, July 8th. Jefferies Financial Group upped their price target on shares of BlackRock from $959.00 to $1,210.00 in a research report on Thursday, July 10th. The Goldman Sachs Group reaffirmed a "buy" rating and set a $1,115.00 price target on shares of BlackRock in a research report on Tuesday, July 8th. Evercore ISI upped their price target on shares of BlackRock from $1,170.00 to $1,200.00 and gave the company an "outperform" rating in a research report on Friday, September 5th. Finally, Morgan Stanley reduced their price target on shares of BlackRock from $1,247.00 to $1,224.00 and set an "overweight" rating for the company in a research report on Wednesday, July 16th. Twelve research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, BlackRock has an average rating of "Moderate Buy" and a consensus target price of $1,154.07.

BlackRock 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.