Oak Harvest Investment Services Has $11.20 Million Stock Position in BlackRock $BLK

Key Points

• Oak Harvest Investment Services significantly increased its holdings in BlackRock by 846.6%, acquiring an additional 10,583 shares in the first quarter, bringing its total to 11,833 shares valued at approximately $11.2 million.
• Other institutional investors have also raised their positions in BlackRock, with Vanguard and Goldman Sachs increasing holdings by 2.9% and 32.8% respectively during the same quarter.
• BlackRock announced a quarterly dividend of $5.21 per share, with an ex-dividend date set for September 5th, contributing to an annualized dividend yield of 1.8%.

Oak Harvest Investment Services grew its holdings in shares of BlackRock (NYSE:BLK - Free Report) by 846.6% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 11,833 shares of the asset manager's stock after purchasing an additional 10,583 shares during the period. BlackRock accounts for 1.6% of Oak Harvest Investment Services' portfolio, making the stock its 14th biggest position. Oak Harvest Investment Services' holdings in BlackRock were worth $11,200,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Vanguard Group Inc. increased 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 buying an additional 387,466 shares during the period. GAMMA Investing LLC boosted its holdings in shares of BlackRock by 104,598.9% in the first quarter. GAMMA Investing LLC now owns 3,500,083 shares of the asset manager's stock worth $3,312,759,000 after buying an additional 3,496,740 shares during the period. Ameriprise Financial Inc. boosted its holdings in shares of BlackRock by 18.6% during the fourth quarter. Ameriprise Financial Inc. now owns 2,100,163 shares of the asset manager's stock worth $2,152,907,000 after purchasing an additional 329,244 shares during the period. Northern Trust Corp boosted its holdings in shares of BlackRock by 20.6% during the fourth quarter. Northern Trust Corp now owns 1,591,716 shares of the asset manager's stock worth $1,631,684,000 after purchasing an additional 272,176 shares during the period. Finally, Goldman Sachs Group Inc. boosted its holdings in shares of BlackRock by 32.8% during the first quarter. Goldman Sachs Group Inc. now owns 1,131,919 shares of the asset manager's stock worth $1,071,339,000 after purchasing an additional 279,336 shares during the period. Institutional investors and hedge funds own 80.69% of the company's stock.

Insider Activity

In other news, Director Fabrizio Freda sold 4,434 shares of the business's stock in a transaction on Thursday, July 24th. The shares were sold at an average price of $1,122.81, for a total value of $4,978,539.54. Following the sale, the director owned 3,506 shares in the company, valued at approximately $3,936,571.86. The trade was a 55.84% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director J. Richard Kushel sold 17,142 shares of the business's stock in a transaction on Wednesday, July 30th. The shares were sold at an average price of $1,120.50, for a total transaction of $19,207,611.00. Following the completion of the sale, the director owned 61,369 shares in the company, valued at $68,763,964.50. This represents a 21.83% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 66,494 shares of company stock worth $74,694,573 over the last 90 days. 1.98% of the stock is currently owned by company insiders.

BlackRock Stock Performance

BLK traded up $3.45 during trading on Tuesday, reaching $1,140.55. 580,218 shares of the company's stock were exchanged, compared to its average volume of 484,293. BlackRock has a fifty-two week low of $773.74 and a fifty-two week high of $1,171.89. The company has a quick ratio of 4.04, a current ratio of 4.04 and a debt-to-equity ratio of 0.39. The business has a 50 day moving average price of $1,092.57 and a 200 day moving average price of $994.55. The company has a market capitalization of $176.62 billion, a P/E ratio of 27.58, a PEG ratio of 2.18 and a beta of 1.42.

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, topping analysts' consensus estimates of $10.41 by $1.64. BlackRock had a net margin of 29.68% and a return on equity of 15.53%. The firm had revenue of $5.42 billion for the quarter, compared to the consensus estimate of $5.40 billion. During the same quarter in the previous year, the company earned $10.36 earnings per share. The business's revenue was up 12.9% compared to the same quarter last year. As a group, analysts predict 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 will be paid on Tuesday, September 23rd. Stockholders of record on Friday, September 5th will be paid a $5.21 dividend. This represents a $20.84 annualized dividend and a dividend yield of 1.8%. The ex-dividend date is Friday, September 5th. BlackRock's payout ratio is currently 50.39%.

Analyst Upgrades and Downgrades

BLK has been the topic of several recent research reports. Wall Street Zen raised shares of BlackRock to a "hold" rating in a research report on Saturday, May 24th. JPMorgan Chase & Co. lifted their price target on shares of BlackRock from $1,018.00 to $1,093.00 and gave the company a "neutral" rating in a research report on Wednesday, July 16th. The Goldman Sachs Group reissued a "buy" rating and issued a $1,115.00 price target on shares of BlackRock in a research report on Tuesday, July 8th. Argus reissued a "buy" rating on shares of BlackRock in a research report on Tuesday, July 8th. Finally, Morgan Stanley dropped their price target on shares of BlackRock from $1,247.00 to $1,224.00 and set an "overweight" rating on the stock in a research report on Wednesday, July 16th. Twelve analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $1,151.21.

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.