Bard Financial Services Inc. purchased a new stake in shares of BlackRock, Inc. (NYSE:BLK) in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 1,945 shares of the asset manager’s stock, valued at approximately $1,403,000.
A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. BlackRock Inc. grew its position in BlackRock by 0.3% during the fourth quarter. BlackRock Inc. now owns 9,698,942 shares of the asset manager’s stock valued at $6,998,176,000 after buying an additional 31,741 shares during the period. FMR LLC grew its position in BlackRock by 19.0% during the fourth quarter. FMR LLC now owns 3,819,050 shares of the asset manager’s stock valued at $2,755,598,000 after buying an additional 611,071 shares during the period. Wells Fargo & Company MN grew its position in BlackRock by 3.1% during the fourth quarter. Wells Fargo & Company MN now owns 2,388,277 shares of the asset manager’s stock valued at $1,723,239,000 after buying an additional 72,109 shares during the period. Norges Bank bought a new position in BlackRock during the fourth quarter valued at about $1,515,316,000. Finally, Northern Trust Corp boosted its position in BlackRock by 2.9% during the fourth quarter. Northern Trust Corp now owns 2,021,045 shares of the asset manager’s stock worth $1,458,265,000 after purchasing an additional 56,604 shares during the period. Institutional investors own 79.10% of the company’s stock.
Shares of BlackRock stock opened at $788.00 on Thursday. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.02 and a current ratio of 1.01. BlackRock, Inc. has a 52-week low of $440.00 and a 52-week high of $790.22. The stock has a market capitalization of $120.28 billion, a price-to-earnings ratio of 24.71, a P/E/G ratio of 1.88 and a beta of 1.16. The company’s 50 day moving average price is $725.50 and its 200-day moving average price is $688.58.
The business also recently declared a quarterly dividend, which was paid on Tuesday, March 23rd. Investors of record on Friday, March 5th were issued a $4.13 dividend. The ex-dividend date was Thursday, March 4th. This represents a $16.52 annualized dividend and a yield of 2.10%. This is a boost from BlackRock’s previous quarterly dividend of $3.63. BlackRock’s payout ratio is 48.85%.
A number of equities analysts have weighed in on the stock. Zacks Investment Research lowered shares of BlackRock from a “buy” rating to a “hold” rating and set a $733.00 target price for the company. in a research report on Monday, December 21st. Deutsche Bank Aktiengesellschaft increased their price target on shares of BlackRock from $835.00 to $838.00 and gave the stock a “buy” rating in a report on Friday, January 15th. Wells Fargo & Company increased their price target on shares of BlackRock from $875.00 to $890.00 and gave the stock an “overweight” rating in a report on Wednesday. Morgan Stanley increased their price target on shares of BlackRock from $750.00 to $890.00 and gave the stock an “overweight” rating in a report on Monday, January 11th. Finally, BMO Capital Markets increased their price target on shares of BlackRock from $709.00 to $715.00 and gave the company a “market perform” rating in a research report on Friday, January 15th. Two investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. BlackRock currently has a consensus rating of “Buy” and a consensus price target of $737.00.
In related news, COO Robert L. Goldstein sold 1,984 shares of BlackRock stock in a transaction on Tuesday, February 2nd. The shares were sold at an average price of $732.12, for a total value of $1,452,526.08. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Laurence Fink sold 2,800 shares of BlackRock stock in a transaction on Tuesday, January 26th. The shares were sold at an average price of $730.97, for a total transaction of $2,046,716.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 40,418 shares of company stock worth $29,492,515. 1.42% of the stock is currently owned by company insiders.
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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