Graybill Wealth Management LTD. Has $7.74 Million Position in BlackRock, Inc. (NYSE:BLK)

Graybill Wealth Management LTD. lowered its stake in BlackRock, Inc. (NYSE:BLK) by 2.6% during the third quarter, Holdings Channel reports. The firm owned 8,153 shares of the asset manager’s stock after selling 216 shares during the period. BlackRock makes up approximately 2.9% of Graybill Wealth Management LTD.’s investment portfolio, making the stock its 8th biggest position. Graybill Wealth Management LTD.’s holdings in BlackRock were worth $7,741,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Redmont Wealth Advisors LLC acquired a new position in BlackRock during the 1st quarter worth approximately $27,000. Fairscale Capital LLC bought a new stake in BlackRock during the 2nd quarter worth approximately $31,000. Chilton Capital Management LLC acquired a new position in BlackRock in the 1st quarter valued at approximately $38,000. Olistico Wealth LLC bought a new position in shares of BlackRock during the second quarter valued at $53,000. Finally, ORG Partners LLC grew its stake in shares of BlackRock by 257.9% in the second quarter. ORG Partners LLC now owns 68 shares of the asset manager’s stock worth $54,000 after purchasing an additional 49 shares during the last quarter. 80.69% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research analysts have commented on BLK shares. Argus lifted their target price on BlackRock from $880.00 to $910.00 and gave the stock a “buy” rating in a report on Tuesday, July 16th. JPMorgan Chase & Co. lifted their price objective on BlackRock from $864.00 to $914.00 and gave the stock a “neutral” rating in a research report on Monday. Wells Fargo & Company lifted their price objective on shares of BlackRock from $1,000.00 to $1,070.00 and gave the company an “overweight” rating in a research note on Wednesday, October 9th. TD Cowen raised their target price on BlackRock from $960.00 to $1,077.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. Finally, Morgan Stanley raised their price objective on BlackRock from $1,150.00 to $1,245.00 and gave the company an “overweight” rating in a research note on Monday, October 14th. Three analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $995.31.

Insider Activity

In other BlackRock news, Director Mark Wiedman sold 12,000 shares of the stock in a transaction on Friday, August 30th. The stock was sold at an average price of $900.00, for a total value of $10,800,000.00. Following the completion of the transaction, the director now owns 6,480 shares in the company, valued at approximately $5,832,000. This represents a 0.00 % 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. In other BlackRock news, Director Mark Wiedman sold 12,000 shares of the firm’s 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 transaction, the director now owns 6,480 shares of the company’s stock, valued at approximately $5,832,000. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Laurence Fink sold 29,450 shares of the business’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $843.25, for a total value of $24,833,712.50. Following the completion of the sale, the chief executive officer now directly owns 353,718 shares in the company, valued at approximately $298,272,703.50. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 66,042 shares of company stock worth $56,857,777 in the last quarter. 0.90% of the stock is owned by company insiders.

BlackRock Trading Down 0.8 %

Shares of BLK traded down $8.44 during mid-day trading on Tuesday, hitting $992.09. 102,499 shares of the company’s stock traded hands, compared to its average volume of 574,216. The business’s 50-day moving average price is $918.70 and its 200-day moving average price is $839.13. BlackRock, Inc. has a 1 year low of $596.18 and a 1 year high of $1,032.00. The firm has a market capitalization of $147.42 billion, a P/E ratio of 25.43, a PEG ratio of 1.94 and a beta of 1.30. The company has a quick ratio of 5.06, a current ratio of 5.06 and a debt-to-equity ratio of 0.37.

BlackRock (NYSE:BLK) last posted its earnings results on Friday, October 11th. The asset manager reported $11.46 EPS for the quarter, topping the consensus estimate of $10.42 by $1.04. BlackRock had a net margin of 32.36% and a return on equity of 15.44%. The firm had revenue of $5.20 billion during the quarter, compared to analysts’ expectations of $5.03 billion. During the same period last year, the company posted $10.91 EPS. The company’s quarterly revenue was up 14.9% compared to the same quarter last year. As a group, sell-side analysts forecast that BlackRock, Inc. will post 41.73 EPS for the current fiscal year.

BlackRock Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 23rd. Stockholders of record on Monday, September 9th were given a $5.10 dividend. This represents a $20.40 annualized dividend and a dividend yield of 2.06%. The ex-dividend date of this dividend was Monday, September 9th. BlackRock’s dividend payout ratio is currently 51.84%.

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.