Howard Capital Management Sells 555 Shares of BlackRock, Inc. (BLK)
Howard Capital Management trimmed its position in shares of BlackRock, Inc. (NYSE:BLK) by 2.0% in the 4th quarter, HoldingsChannel reports. The firm owned 27,740 shares of the asset manager’s stock after selling 555 shares during the period. BlackRock comprises approximately 2.1% of Howard Capital Management’s portfolio, making the stock its 23rd biggest holding. Howard Capital Management’s holdings in BlackRock were worth $14,250,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other large investors have also recently bought and sold shares of BLK. Bfsg LLC increased its holdings in shares of BlackRock by 0.4% during the 2nd quarter. Bfsg LLC now owns 7,438 shares of the asset manager’s stock valued at $3,142,000 after purchasing an additional 26 shares in the last quarter. Financial Counselors Inc. increased its holdings in shares of BlackRock by 2.9% during the 2nd quarter. Financial Counselors Inc. now owns 19,563 shares of the asset manager’s stock valued at $8,264,000 after purchasing an additional 547 shares in the last quarter. Weatherstone Capital Management purchased a new position in shares of BlackRock during the 2nd quarter valued at approximately $246,000. Trust Co. of Virginia VA increased its holdings in shares of BlackRock by 2.0% during the 2nd quarter. Trust Co. of Virginia VA now owns 29,072 shares of the asset manager’s stock valued at $12,280,000 after purchasing an additional 583 shares in the last quarter. Finally, Regal Investment Advisors LLC purchased a new position in shares of BlackRock during the 2nd quarter valued at approximately $2,427,000. 83.60% of the stock is owned by hedge funds and other institutional investors.
In other BlackRock news, insider Jeff A. Smith sold 100 shares of BlackRock stock in a transaction on Friday, November 17th. The shares were sold at an average price of $477.54, for a total transaction of $47,754.00. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Susan Wagner sold 4,000 shares of BlackRock stock in a transaction on Thursday, November 30th. The stock was sold at an average price of $506.10, for a total transaction of $2,024,400.00. Following the sale, the director now directly owns 481,915 shares in the company, valued at approximately $243,897,181.50. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 4,525 shares of company stock worth $2,312,687. 1.86% of the stock is currently owned by corporate insiders.
BlackRock (NYSE:BLK) last announced its earnings results on Friday, January 12th. The asset manager reported $6.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.94 by $0.30. BlackRock had a net margin of 39.79% and a return on equity of 12.54%. The company had revenue of $3.47 billion for the quarter, compared to analysts’ expectations of $3.33 billion. During the same quarter in the previous year, the company posted $5.14 EPS. The firm’s quarterly revenue was up 20.0% on a year-over-year basis. sell-side analysts predict that BlackRock, Inc. will post 28.52 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 22nd. Shareholders of record on Wednesday, March 7th will be paid a dividend of $2.88 per share. This represents a $11.52 annualized dividend and a yield of 1.94%. The ex-dividend date is Tuesday, March 6th. This is a boost from BlackRock’s previous quarterly dividend of $2.50. BlackRock’s payout ratio is 33.00%.
BLK has been the topic of a number of research analyst reports. Credit Suisse Group reissued an “outperform” rating on shares of BlackRock in a research note on Thursday, October 12th. Barclays lifted their price target on shares of BlackRock from $475.00 to $500.00 and gave the company an “overweight” rating in a research note on Tuesday, October 10th. Morgan Stanley reissued an “overweight” rating and issued a $501.00 price target (up previously from $476.00) on shares of BlackRock in a research note on Thursday, October 5th. Goldman Sachs Group raised shares of BlackRock from a “neutral” rating to a “buy” rating and lifted their price target for the company from $440.00 to $500.00 in a research note on Thursday, September 28th. Finally, Zacks Investment Research cut shares of BlackRock from a “buy” rating to a “hold” rating in a research note on Tuesday, December 5th. Four equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $547.92.
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BlackRock Company Profile
BlackRock, Inc (BlackRock) is an investment management company. BlackRock provides a range of investment and risk management services to institutional and retail clients worldwide. Its diverse platform of active (alpha) and index (beta) investment strategies across asset classes enables the Company to tailor investment outcomes and asset allocation solutions for clients.
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