Woodward Diversified Capital LLC Purchases 475 Shares of BlackRock $BLK

Key Points

• Woodward Diversified Capital LLC increased its position in BlackRock by 81.2% in Q2, now holding 1,060 shares valued at approximately $1.11 million.
• BlackRock announced a quarterly dividend of $5.21, which contributes to an annual yield of 1.8%.
• Analysts have generally rated BlackRock as a "Moderate Buy," with a median target price of $1,171.93 as several firms adjusted their price objectives upward.

Woodward Diversified Capital LLC boosted its position in BlackRock (NYSE:BLK - Free Report) by 81.2% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,060 shares of the asset manager's stock after purchasing an additional 475 shares during the quarter. Woodward Diversified Capital LLC's holdings in BlackRock were worth $1,112,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the company. McLean Asset Management Corp increased its holdings in BlackRock by 3.9% in the 2nd quarter. McLean Asset Management Corp now owns 266 shares of the asset manager's stock worth $285,000 after buying an additional 10 shares in the last quarter. Trust Co. of Oklahoma raised its holdings in shares of BlackRock by 0.5% during the second quarter. Trust Co. of Oklahoma now owns 2,023 shares of the asset manager's stock valued at $2,123,000 after purchasing an additional 10 shares during the last quarter. TOWER TRUST & INVESTMENT Co raised its holdings in shares of BlackRock by 1.3% during the second quarter. TOWER TRUST & INVESTMENT Co now owns 799 shares of the asset manager's stock valued at $838,000 after purchasing an additional 10 shares during the last quarter. Detalus Advisors LLC grew its position in BlackRock by 2.8% in the 1st quarter. Detalus Advisors LLC now owns 409 shares of the asset manager's stock worth $387,000 after purchasing an additional 11 shares during the period. Finally, Blue Bell Private Wealth Management LLC grew its position in BlackRock by 20.4% in the 1st quarter. Blue Bell Private Wealth Management LLC now owns 65 shares of the asset manager's stock worth $62,000 after purchasing an additional 11 shares during the period. Institutional investors own 80.69% of the company's stock.

BlackRock Trading Down 2.0%

Shares of BlackRock stock opened at $1,142.33 on Thursday. The company has a market capitalization of $176.89 billion, a P/E ratio of 27.62, a P/E/G ratio of 2.23 and a beta of 1.45. The company has a debt-to-equity ratio of 0.39, a quick ratio of 4.04 and a current ratio of 4.04. The company has a fifty day moving average of $1,128.09 and a 200 day moving average of $1,024.88. BlackRock has a fifty-two week low of $773.74 and a fifty-two week high of $1,183.50.

BlackRock (NYSE:BLK - Get Free Report) last released its quarterly earnings data 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. The firm had revenue of $5.42 billion during the quarter, compared to analyst estimates of $5.40 billion. BlackRock had a return on equity of 15.53% and a net margin of 29.68%.The business's quarterly revenue was up 12.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $10.36 earnings per share. On average, sell-side analysts anticipate that BlackRock will post 47.41 earnings per share for the current fiscal 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 50.39%.

Wall Street Analyst Weigh In

Several analysts recently commented on BLK shares. JPMorgan Chase & Co. lifted their price objective on BlackRock from $1,018.00 to $1,093.00 and gave the stock a "neutral" rating in a report on Wednesday, July 16th. Barclays boosted their price target on BlackRock from $990.00 to $1,220.00 and gave the company an "overweight" rating in a research note on Thursday, July 10th. Evercore ISI boosted their price target on BlackRock from $1,170.00 to $1,200.00 and gave the company an "outperform" rating in a research note on Friday, September 5th. Keefe, Bruyette & Woods cut their target price on shares of BlackRock from $1,247.00 to $1,224.00 and set an "outperform" rating for the company in a research report on Wednesday, July 16th. Finally, Argus restated a "buy" rating on shares of BlackRock in a research report on Tuesday, July 8th. Twelve equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. According to MarketBeat.com, BlackRock has an average rating of "Moderate Buy" and an average target price of $1,171.93.

Insider Activity at BlackRock

In related news, Director J. Richard Kushel sold 17,142 shares of the company'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 transaction, 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Fabrizio Freda sold 4,434 shares of the company's stock in a transaction on Thursday, July 24th. The stock was sold at an average price of $1,122.81, for a total transaction of $4,978,539.54. Following the transaction, the director owned 3,506 shares of the company's stock, valued at approximately $3,936,571.86. This represents a 55.84% 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 in the last three months. Insiders own 1.98% of the company's stock.

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.

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