Opal Wealth Advisors LLC Purchases 262 Shares of BlackRock $BLK

Key Points

• Opal Wealth Advisors LLC increased its stake in BlackRock by 240.4%, acquiring an additional 262 shares for a total of 371 shares valued at $389,000.
• Insider trading activity included CEO Laurence Fink selling 12,054 shares for approximately $13.57 million, resulting in a 4.57% decrease in his ownership.
• BlackRock recently announced a quarterly dividend of $5.21 per share, with an annualized dividend yield of 1.8%.

Opal Wealth Advisors LLC raised its position in shares of BlackRock (NYSE:BLK - Free Report) by 240.4% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 371 shares of the asset manager's stock after purchasing an additional 262 shares during the period. Opal Wealth Advisors LLC's holdings in BlackRock were worth $389,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of BLK. Brighton Jones LLC raised its position in BlackRock by 23.1% during the 4th quarter. Brighton Jones LLC now owns 1,575 shares of the asset manager's stock valued at $1,615,000 after purchasing an additional 296 shares in the last quarter. Bison Wealth LLC raised its position in BlackRock by 1.6% during the 4th quarter. Bison Wealth LLC now owns 1,052 shares of the asset manager's stock valued at $1,078,000 after purchasing an additional 17 shares in the last quarter. Toronto Dominion Bank raised its position in BlackRock by 1.1% during the 4th quarter. Toronto Dominion Bank now owns 51,192 shares of the asset manager's stock valued at $52,475,000 after purchasing an additional 577 shares in the last quarter. Ascent Group LLC raised its position in BlackRock by 23.5% during the 4th quarter. Ascent Group LLC now owns 2,605 shares of the asset manager's stock valued at $2,670,000 after purchasing an additional 496 shares in the last quarter. Finally, United Advisor Group LLC bought a new stake in BlackRock during the 4th quarter valued at $662,000. 80.69% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, CEO Laurence Fink sold 12,054 shares of the stock in a transaction on Friday, July 25th. The stock was sold at an average price of $1,125.43, for a total value of $13,565,933.22. Following the sale, the chief executive officer directly owned 251,697 shares in the company, valued at approximately $283,267,354.71. This trade represents a 4.57% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director J. Richard Kushel sold 17,142 shares of the firm's stock in a transaction on Wednesday, July 30th. The shares were 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 owned 61,369 shares in the company, valued at approximately $68,763,964.50. This represents a 21.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 66,494 shares of company stock valued at $74,694,573 in the last three months. 1.98% of the stock is currently owned by insiders.

BlackRock Price Performance

BLK stock opened at $1,135.87 on Tuesday. The firm has a market capitalization of $175.89 billion, a PE ratio of 27.46, a price-to-earnings-growth ratio of 2.19 and a beta of 1.45. BlackRock has a 1 year low of $773.74 and a 1 year high of $1,171.89. 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 business has a 50 day simple moving average of $1,120.31 and a 200-day simple moving average of $1,014.87.

BlackRock (NYSE:BLK - Get Free Report) last issued its quarterly earnings data on Tuesday, July 15th. The asset manager reported $12.05 earnings per share for the quarter, topping the consensus estimate of $10.41 by $1.64. BlackRock had a return on equity of 15.53% and a net margin of 29.68%.The company had revenue of $5.42 billion during the quarter, compared to analyst estimates of $5.40 billion. During the same period in the prior year, the business posted $10.36 earnings per share. The firm's revenue for the quarter was up 12.9% compared to the same quarter last year. Equities research analysts anticipate that BlackRock will post 47.41 earnings per share for the current fiscal year.

BlackRock Dividend Announcement

The business also recently disclosed 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 dividend payout ratio (DPR) is presently 50.39%.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on BLK shares. Morgan Stanley cut their price target on BlackRock from $1,247.00 to $1,224.00 and set an "overweight" rating on the stock in a report on Wednesday, July 16th. The Goldman Sachs Group reiterated a "buy" rating and issued a $1,115.00 price target on shares of BlackRock in a report on Tuesday, July 8th. Jefferies Financial Group lifted their price target on BlackRock from $959.00 to $1,210.00 in a report on Thursday, July 10th. Evercore ISI lifted their price target on BlackRock from $1,170.00 to $1,200.00 and gave the company an "outperform" rating in a report on Friday, September 5th. Finally, Telsey Advisory Group reiterated an "outperform" rating on shares of BlackRock in a report on Tuesday, July 8th. Twelve investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target 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.

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