Heard Capital LLC Sells 5,022 Shares of BlackRock, Inc. (NYSE:BLK)

Heard Capital LLC lowered its stake in shares of BlackRock, Inc. (NYSE:BLK) by 8.4% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 54,605 shares of the asset manager’s stock after selling 5,022 shares during the period. BlackRock comprises approximately 2.9% of Heard Capital LLC’s investment portfolio, making the stock its 13th biggest holding. Heard Capital LLC’s holdings in BlackRock were worth $51,848,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in BLK. FSA Wealth Management LLC purchased a new position in shares of BlackRock during the 3rd quarter worth about $26,000. Fairscale Capital LLC purchased a new stake in shares of BlackRock in the second quarter valued at about $31,000. Reston Wealth Management LLC acquired a new stake in BlackRock during the third quarter worth about $37,000. MFA Wealth Advisors LLC increased its stake in BlackRock by 100.0% during the 3rd quarter. MFA Wealth Advisors LLC now owns 40 shares of the asset manager’s stock valued at $38,000 after buying an additional 20 shares during the period. Finally, Addison Advisors LLC boosted its holdings in BlackRock by 81.5% during the third quarter. Addison Advisors LLC now owns 49 shares of the asset manager’s stock valued at $47,000 after acquiring an additional 22 shares during the period. Institutional investors own 80.69% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on BLK. JPMorgan Chase & Co. lifted their price objective on shares of BlackRock from $864.00 to $914.00 and gave the company a “neutral” rating in a report on Monday, October 21st. Barclays upped their price objective on shares of BlackRock from $1,010.00 to $1,120.00 and gave the stock an “overweight” rating in a report on Monday, October 14th. Deutsche Bank Aktiengesellschaft increased their price objective on shares of BlackRock from $1,105.00 to $1,133.00 and gave the company a “buy” rating in a research report on Monday, November 11th. Wells Fargo & Company boosted their price objective on BlackRock from $1,000.00 to $1,070.00 and gave the stock an “overweight” rating in a report on Wednesday, October 9th. Finally, The Goldman Sachs Group upped their price objective on BlackRock from $960.00 to $1,040.00 and gave the stock a “buy” rating in a research report on Thursday, October 3rd. Three analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, BlackRock has a consensus rating of “Moderate Buy” and an average target price of $1,019.62.

BlackRock Trading Down 0.2 %

Shares of BLK stock opened at $1,020.34 on Tuesday. The stock’s 50-day moving average price is $994.93 and its 200-day moving average price is $888.81. The company has a current ratio of 5.06, a quick ratio of 5.06 and a debt-to-equity ratio of 0.37. BlackRock, Inc. has a 12-month low of $742.22 and a 12-month high of $1,068.34. The stock has a market capitalization of $158.03 billion, a price-to-earnings ratio of 25.18, a price-to-earnings-growth ratio of 1.82 and a beta of 1.30.

BlackRock (NYSE:BLK) last posted its earnings results on Friday, October 11th. The asset manager reported $11.46 earnings per share for the quarter, topping the consensus estimate of $10.42 by $1.04. BlackRock had a net margin of 31.37% and a return on equity of 15.52%. The business had revenue of $5.20 billion for the quarter, compared to analyst estimates of $5.03 billion. During the same quarter in the prior year, the firm earned $10.91 EPS. The firm’s quarterly revenue was up 14.9% compared to the same quarter last year. Equities research analysts predict that BlackRock, Inc. will post 43.18 EPS for the current fiscal year.

BlackRock Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 23rd. Stockholders of record on Thursday, December 5th will be paid a $5.10 dividend. This represents a $20.40 dividend on an annualized basis and a dividend yield of 2.00%. The ex-dividend date of this dividend is Thursday, December 5th. BlackRock’s payout ratio is presently 50.35%.

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.