Pinnacle Wealth Management Advisory Group LLC Buys 23 Shares of BlackRock, Inc. (NYSE:BLK)

Pinnacle Wealth Management Advisory Group LLC raised its stake in BlackRock, Inc. (NYSE:BLK) by 0.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 6,316 shares of the asset manager’s stock after purchasing an additional 23 shares during the period. Pinnacle Wealth Management Advisory Group LLC’s holdings in BlackRock were worth $6,475,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. FSA Wealth Management LLC bought a new stake in BlackRock in the third quarter valued at $26,000. Collier Financial bought a new stake in shares of BlackRock during the fourth quarter worth about $32,000. Atwood & Palmer Inc. bought a new stake in shares of BlackRock during the fourth quarter worth about $36,000. Reston Wealth Management LLC bought a new stake in shares of BlackRock during the third quarter worth about $37,000. Finally, MFA Wealth Advisors LLC increased its position in shares of BlackRock by 100.0% during the third quarter. MFA Wealth Advisors LLC now owns 40 shares of the asset manager’s stock worth $38,000 after acquiring an additional 20 shares in the last quarter. 80.69% of the stock is owned by institutional investors.

Insider Transactions at BlackRock

In other news, Director J. Richard Kushel sold 10,000 shares of the business’s stock in a transaction on Thursday, January 30th. The shares were sold at an average price of $1,072.64, for a total value of $10,726,400.00. Following the transaction, the director now owns 68,433 shares of the company’s stock, valued at approximately $73,403,973.12. The trade was a 12.75 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Mark Wiedman sold 36,190 shares of the business’s stock in a transaction on Friday, December 6th. The stock was sold at an average price of $1,045.90, for a total transaction of $37,851,121.00. Following the completion of the transaction, the director now directly owns 6,480 shares in the company, valued at $6,777,432. This trade represents a 84.81 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 110,190 shares of company stock valued at $115,163,141. 0.90% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on BLK shares. Evercore ISI boosted their target price on shares of BlackRock from $1,040.00 to $1,160.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th. Wells Fargo & Company boosted their target price on shares of BlackRock from $1,155.00 to $1,175.00 and gave the stock an “overweight” rating in a research report on Thursday, January 16th. Citigroup boosted their target price on shares of BlackRock from $1,150.00 to $1,200.00 and gave the stock a “buy” rating in a research report on Monday, December 23rd. Barclays decreased their target price on shares of BlackRock from $1,220.00 to $1,160.00 and set an “overweight” rating for the company in a research report on Monday, January 13th. Finally, Morgan Stanley boosted their price target on shares of BlackRock from $1,261.00 to $1,275.00 and gave the stock an “overweight” rating in a report on Thursday, January 16th. Three research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $1,120.67.

BlackRock Price Performance

Shares of BlackRock stock opened at $973.22 on Friday. BlackRock, Inc. has a 52-week low of $745.55 and a 52-week high of $1,084.22. The stock has a market capitalization of $150.73 billion, a price-to-earnings ratio of 23.17, a price-to-earnings-growth ratio of 1.93 and a beta of 1.28. The company has a fifty day moving average of $1,019.28 and a 200-day moving average of $972.80. The company has a debt-to-equity ratio of 0.45, a quick ratio of 5.23 and a current ratio of 5.23.

BlackRock (NYSE:BLK) last announced its earnings results on Wednesday, January 15th. The asset manager reported $11.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $11.52 by $0.41. The company had revenue of $5.68 billion during the quarter, compared to analyst estimates of $5.57 billion. BlackRock had a net margin of 31.21% and a return on equity of 16.32%. The firm’s quarterly revenue was up 22.6% compared to the same quarter last year. During the same period in the previous year, the business posted $9.66 earnings per share. Equities research analysts expect that BlackRock, Inc. will post 47.44 EPS for the current year.

BlackRock Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 24th. Stockholders of record on Friday, March 7th will be issued a $5.21 dividend. This represents a $20.84 annualized dividend and a dividend yield of 2.14%. The ex-dividend date is Friday, March 7th. This is an increase from BlackRock’s previous quarterly dividend of $5.10. BlackRock’s payout ratio is 48.57%.

About BlackRock

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.