IHT Wealth Management LLC Sells 95 Shares of BlackRock, Inc. (NYSE:BLK)

IHT Wealth Management LLC trimmed its holdings in shares of BlackRock, Inc. (NYSE:BLK) by 4.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,133 shares of the asset manager’s stock after selling 95 shares during the period. IHT Wealth Management LLC’s holdings in BlackRock were worth $2,186,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the stock. Morse Asset Management Inc acquired a new position in BlackRock during the third quarter worth approximately $66,000. Invst LLC increased its holdings in shares of BlackRock by 2.2% during the 3rd quarter. Invst LLC now owns 2,435 shares of the asset manager’s stock worth $2,312,000 after acquiring an additional 52 shares during the last quarter. Wealthquest Corp bought a new stake in BlackRock in the 3rd quarter valued at $225,000. Tudor Financial Inc. acquired a new stake in BlackRock during the 3rd quarter valued at $399,000. Finally, Anchor Investment Management LLC boosted its position in BlackRock by 31.8% during the third quarter. Anchor Investment Management LLC now owns 791 shares of the asset manager’s stock worth $751,000 after purchasing an additional 191 shares during the period. 80.69% of the stock is currently owned by institutional investors.

BlackRock Stock Up 4.0 %

NYSE BLK opened at $887.84 on Wednesday. The business has a fifty day moving average price of $926.10 and a two-hundred day moving average price of $984.56. The stock has a market capitalization of $137.84 billion, a PE ratio of 21.14, a PEG ratio of 1.90 and a beta of 1.38. BlackRock, Inc. has a fifty-two week low of $748.02 and a fifty-two week high of $1,084.22. The company has a debt-to-equity ratio of 0.45, a current ratio of 5.23 and a quick ratio of 5.23.

BlackRock (NYSE:BLK) last released its quarterly earnings data on Friday, April 11th. The asset manager reported $11.30 earnings per share for the quarter, beating the consensus estimate of $10.84 by $0.46. The business had revenue of $5.28 billion for the quarter, compared to analyst estimates of $5.47 billion. BlackRock had a return on equity of 16.32% and a net margin of 31.21%. BlackRock’s revenue was up 11.6% compared to the same quarter last year. During the same period last year, the firm posted $9.81 earnings per share. Equities analysts expect that BlackRock, Inc. will post 47.41 earnings per share for the current fiscal year.

BlackRock Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 24th. Investors of record on Friday, March 7th were paid a $5.21 dividend. This is an increase from BlackRock’s previous quarterly dividend of $5.10. The ex-dividend date of this dividend was Friday, March 7th. This represents a $20.84 annualized dividend and a yield of 2.35%. BlackRock’s dividend payout ratio is presently 50.63%.

Insider Activity

In other BlackRock news, Director J. Richard Kushel sold 10,000 shares of the stock in a transaction dated Thursday, January 30th. The stock was sold at an average price of $1,072.64, for a total value of $10,726,400.00. Following the completion of the transaction, the director now directly owns 68,433 shares in the company, valued at approximately $73,403,973.12. This trade represents a 12.75 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.98% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

BLK has been the subject of a number of research reports. Deutsche Bank Aktiengesellschaft raised their target price on shares of BlackRock from $1,215.00 to $1,275.00 and gave the stock a “buy” rating in a research note on Thursday, January 16th. JPMorgan Chase & Co. decreased their target price on BlackRock from $1,046.00 to $988.00 and set a “neutral” rating on the stock in a research report on Monday, April 14th. UBS Group dropped their price target on BlackRock from $1,045.00 to $1,010.00 and set a “neutral” rating for the company in a report on Friday, April 11th. Bank of America lowered their price objective on BlackRock from $1,196.00 to $1,178.00 and set a “buy” rating on the stock in a research report on Thursday, April 3rd. Finally, StockNews.com assumed coverage on shares of BlackRock in a research report on Tuesday. They issued a “hold” rating for the company. Three analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $1,077.08.

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.