Fountainhead AM LLC Invests $246,000 in BlackRock (NYSE:BLK)

Fountainhead AM LLC acquired a new stake in shares of BlackRock (NYSE:BLK - Free Report) in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 260 shares of the asset manager's stock, valued at approximately $246,000.

A number of other large investors also recently bought and sold shares of BLK. Hazlett Burt & Watson Inc. boosted its holdings in BlackRock by 2.1% in the fourth quarter. Hazlett Burt & Watson Inc. now owns 534 shares of the asset manager's stock valued at $542,000 after purchasing an additional 11 shares during the period. Annis Gardner Whiting Capital Advisors LLC lifted its holdings in BlackRock by 4.5% during the 4th quarter. Annis Gardner Whiting Capital Advisors LLC now owns 257 shares of the asset manager's stock worth $263,000 after buying an additional 11 shares during the last quarter. Detalus Advisors LLC lifted its holdings in BlackRock by 2.8% during the 1st quarter. Detalus Advisors LLC now owns 409 shares of the asset manager's stock worth $387,000 after buying an additional 11 shares during the last quarter. Prestige Wealth Management Group LLC lifted its holdings in BlackRock by 3.1% during the 4th quarter. Prestige Wealth Management Group LLC now owns 399 shares of the asset manager's stock worth $409,000 after buying an additional 12 shares during the last quarter. Finally, Jump Financial LLC lifted its holdings in BlackRock by 1.6% during the 4th quarter. Jump Financial LLC now owns 786 shares of the asset manager's stock worth $806,000 after buying an additional 12 shares during the last quarter. Hedge funds and other institutional investors own 80.69% of the company's stock.

BlackRock Price Performance

BlackRock stock traded down $1.17 during mid-day trading on Friday, hitting $1,104.21. 991,217 shares of the company were exchanged, compared to its average volume of 702,213. The company has a debt-to-equity ratio of 0.38, a current ratio of 4.34 and a quick ratio of 4.34. The business's 50 day simple moving average is $1,013.56 and its two-hundred day simple moving average is $972.96. The company has a market capitalization of $171.08 billion, a P/E ratio of 26.70, a PEG ratio of 2.23 and a beta of 1.41. BlackRock has a 12-month low of $773.74 and a 12-month high of $1,119.19.

BlackRock (NYSE:BLK - Get Free Report) last posted its quarterly earnings data on Tuesday, July 15th. The asset manager reported $12.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $10.41 by $1.64. BlackRock had a return on equity of 15.83% and a net margin of 29.68%. The business had revenue of $5.42 billion for the quarter, compared to analysts' expectations of $5.40 billion. During the same quarter last year, the firm earned $10.36 earnings per share. The business's revenue was up 12.9% on a year-over-year basis. Analysts forecast that BlackRock will post 47.41 earnings per share for the current fiscal year.

BlackRock Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 23rd. Stockholders of record on Thursday, June 5th were issued a dividend of $5.21 per share. This represents a $20.84 annualized dividend and a dividend yield of 1.89%. The ex-dividend date of this dividend was Thursday, June 5th. BlackRock's dividend payout ratio (DPR) is 50.39%.

Insider Activity

In related news, Director J. Richard Kushel sold 10,000 shares of BlackRock stock in a transaction on Thursday, April 24th. The stock was sold at an average price of $912.50, for a total value of $9,125,000.00. Following the transaction, the director owned 66,034 shares in the company, valued at approximately $60,256,025. This trade represents a 13.15% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.98% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

BLK has been the topic of a number of research analyst reports. Wall Street Zen upgraded BlackRock to a "hold" rating in a research report on Saturday, May 24th. Wells Fargo & Company cut their target price on BlackRock from $1,180.00 to $1,170.00 and set an "overweight" rating on the stock in a research report on Wednesday. TD Cowen cut their target price on BlackRock from $1,251.00 to $1,032.00 and set a "buy" rating on the stock in a research report on Wednesday, April 9th. The Goldman Sachs Group reiterated a "buy" rating and set a $1,115.00 target price on shares of BlackRock in a research report on Tuesday, July 8th. Finally, Morgan Stanley cut their target price on BlackRock from $1,247.00 to $1,224.00 and set an "overweight" rating on the stock in a research report on Wednesday. Three equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $1,151.21.

About BlackRock

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.