Avidian Wealth Enterprises LLC Acquires 355 Shares of BlackRock, Inc. (NYSE:BLK)

Avidian Wealth Enterprises LLC raised its holdings in BlackRock, Inc. (NYSE:BLK) by 50.1% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,063 shares of the asset manager’s stock after acquiring an additional 355 shares during the quarter. Avidian Wealth Enterprises LLC’s holdings in BlackRock were worth $1,010,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Pathway Financial Advisers LLC grew its stake in BlackRock by 89,389.4% in the 3rd quarter. Pathway Financial Advisers LLC now owns 1,046,131 shares of the asset manager’s stock worth $993,312,000 after acquiring an additional 1,044,962 shares in the last quarter. International Assets Investment Management LLC grew its stake in BlackRock by 104,468.9% in the third quarter. International Assets Investment Management LLC now owns 792,632 shares of the asset manager’s stock worth $7,526,120,000 after purchasing an additional 791,874 shares in the last quarter. Capital Research Global Investors increased its holdings in BlackRock by 11.1% during the 1st quarter. Capital Research Global Investors now owns 4,354,236 shares of the asset manager’s stock worth $3,630,127,000 after purchasing an additional 435,358 shares during the period. Vanguard Group Inc. raised its position in BlackRock by 2.3% during the 1st quarter. Vanguard Group Inc. now owns 13,182,262 shares of the asset manager’s stock valued at $10,990,052,000 after purchasing an additional 292,017 shares in the last quarter. Finally, M&G Plc purchased a new stake in shares of BlackRock in the 1st quarter worth $161,918,000. Hedge funds and other institutional investors own 80.69% of the company’s stock.

Insider Buying and Selling

In other BlackRock news, Director Mark Wiedman sold 12,000 shares of BlackRock stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $900.00, for a total transaction of $10,800,000.00. Following the completion of the sale, the director now directly owns 6,480 shares in the company, valued at approximately $5,832,000. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders sold 35,061 shares of company stock valued at $30,734,840 over the last quarter. 0.90% of the stock is currently owned by company insiders.

BlackRock Trading Up 1.5 %

Shares of BlackRock stock opened at $1,029.82 on Thursday. BlackRock, Inc. has a 12-month low of $646.91 and a 12-month high of $1,057.51. The firm’s 50 day simple moving average is $947.54 and its two-hundred day simple moving average is $857.04. The company has a current ratio of 5.06, a quick ratio of 5.06 and a debt-to-equity ratio of 0.37. The firm has a market capitalization of $152.55 billion, a price-to-earnings ratio of 25.42, a PEG ratio of 1.77 and a beta of 1.30.

BlackRock (NYSE:BLK) last issued its earnings results on Friday, October 11th. The asset manager reported $11.46 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $10.42 by $1.04. The company had revenue of $5.20 billion during the quarter, compared to analyst estimates of $5.03 billion. BlackRock had a return on equity of 15.52% and a net margin of 31.37%. The firm’s quarterly revenue was up 14.9% on a year-over-year basis. During the same quarter last year, the business posted $10.91 EPS. Analysts predict that BlackRock, Inc. will post 42.94 EPS for the current year.

Analyst Ratings Changes

BLK has been the subject of several recent research reports. JPMorgan Chase & Co. lifted their price objective on BlackRock from $864.00 to $914.00 and gave the company a “neutral” rating in a report on Monday, October 21st. StockNews.com began coverage on shares of BlackRock in a research report on Tuesday. They issued a “hold” rating for the company. Barclays lifted their price objective on shares of BlackRock from $1,010.00 to $1,120.00 and gave the company an “overweight” rating in a report on Monday, October 14th. Evercore ISI increased their target price on BlackRock from $995.00 to $1,040.00 and gave the company an “outperform” rating in a research report on Monday, October 14th. Finally, Citigroup boosted their price target on BlackRock from $920.00 to $930.00 and gave the stock a “buy” rating in a research report on Tuesday, July 16th. Three analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $995.31.

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.