WealthPlan Investment Management LLC Buys Shares of 264 BlackRock $BLK

Key Points

• WealthPlan Investment Management LLC acquired 264 shares of BlackRock, valued at approximately $277,000, as indicated in its latest 13F filing.
• BlackRock reported a quarterly revenue of $6.51 billion, exceeding estimates, but posted earnings per share of $11.55, missing the forecast by $0.23.
• Several research firms have raised their price targets on BlackRock shares, with Morgan Stanley setting a new target of $1,486.00 and maintaining an "overweight" rating.

WealthPlan Investment Management LLC bought a new stake in shares of BlackRock (NYSE:BLK - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 264 shares of the asset manager's stock, valued at approximately $277,000.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Fairway Wealth LLC increased its position in shares of BlackRock by 76.5% during the 1st quarter. Fairway Wealth LLC now owns 30 shares of the asset manager's stock valued at $28,000 after purchasing an additional 13 shares during the last quarter. Game Plan Financial Advisors LLC increased its position in shares of BlackRock by 100.0% during the 1st quarter. Game Plan Financial Advisors LLC now owns 30 shares of the asset manager's stock valued at $28,000 after purchasing an additional 15 shares during the last quarter. Garde Capital Inc. increased its position in shares of BlackRock by 200.0% during the 2nd quarter. Garde Capital Inc. now owns 27 shares of the asset manager's stock valued at $28,000 after purchasing an additional 18 shares during the last quarter. Cheviot Value Management LLC purchased a new stake in shares of BlackRock during the 1st quarter valued at about $30,000. Finally, MorganRosel Wealth Management LLC purchased a new stake in shares of BlackRock during the 1st quarter valued at about $31,000. Institutional investors own 80.69% of the company's stock.

BlackRock Trading Down 0.8%

BlackRock stock opened at $1,161.63 on Friday. The firm has a 50 day moving average of $1,140.85 and a 200 day moving average of $1,042.27. The firm has a market capitalization of $179.88 billion, a price-to-earnings ratio of 29.87, a P/E/G ratio of 2.03 and a beta of 1.45. BlackRock has a 12-month low of $773.74 and a 12-month high of $1,219.94. The company has a current ratio of 4.04, a quick ratio of 4.04 and a debt-to-equity ratio of 0.39.

BlackRock (NYSE:BLK - Get Free Report) last posted its quarterly earnings results on Tuesday, October 14th. The asset manager reported $11.55 earnings per share for the quarter, missing the consensus estimate of $11.78 by ($0.23). BlackRock had a return on equity of 15.36% and a net margin of 26.64%.The business had revenue of $6.51 billion during the quarter, compared to the consensus estimate of $6.22 billion. During the same quarter in the previous year, the company earned $11.46 earnings per share. The company's revenue for the quarter was up 25.2% compared to the same quarter last year. As a group, research analysts predict that BlackRock will post 47.41 earnings per share for the current year.

BlackRock Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 23rd. Shareholders of record on Friday, September 5th were paid a $5.21 dividend. This represents a $20.84 annualized dividend and a yield of 1.8%. The ex-dividend date was Friday, September 5th. BlackRock's dividend payout ratio is presently 53.59%.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on BLK shares. Morgan Stanley upped their price target on shares of BlackRock from $1,362.00 to $1,486.00 and gave the company an "overweight" rating in a research report on Wednesday. Evercore ISI upped their price target on shares of BlackRock from $1,200.00 to $1,230.00 and gave the company an "outperform" rating in a research report on Thursday, October 9th. Argus upped their price target on shares of BlackRock from $1,165.00 to $1,330.00 and gave the company a "buy" rating in a research report on Wednesday. TD Cowen upped their price target on shares of BlackRock from $1,301.00 to $1,407.00 and gave the company a "buy" rating in a research report on Wednesday. Finally, The Goldman Sachs Group increased their target price on shares of BlackRock from $1,163.00 to $1,312.00 and gave the stock a "buy" rating in a report on Friday, October 3rd. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and three have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $1,300.81.

Insiders Place Their Bets

In other BlackRock news, Director J. Richard Kushel sold 17,142 shares of the company's stock in a transaction that occurred 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 transaction, the director directly owned 61,369 shares in the company, valued at $68,763,964.50. This represents a 21.83% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Rachel Lord sold 18,036 shares of the company's stock in a transaction that occurred 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 transaction, the director owned 19,205 shares of the company's stock, valued at $21,617,148. The trade was a 48.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 66,494 shares of company stock valued at $74,694,573. 1.98% of the stock is owned by company insiders.

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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