The Garde Capital Inc. Buys Shares of 3,025 BlackRock, Inc. (BLK), Report finds

The Garde Capital Inc. Buys Shares of 3,025 BlackRock, Inc. (BLK), Report finds

Other institutional investors also recently bought and sold shares of the company. NEXT Financial Group Inc boosted its position in BlackRock by 22.2% in the third quarter. NEXT Financial Group Inc now owns 275 shares of the company’s stock valued at $100,000 after buying an additional 50 shares during the last quarter. Mycio Wealth Partners LLC boosted its position in BlackRock by 3.3% in the second quarter. Mycio Wealth Partners LLC now owns 379 shares of the company’s stock valued at $130,000 after buying an additional 12 shares during the last quarter. Global X Management Co. LLC boosted its position in BlackRock by 294.9% in the third quarter. Global X Management Co. LLC now owns 391 shares of the company’s stock valued at $142,000 after buying an additional 292 shares during the last quarter. Benjamin F. Edwards & Company Inc. boosted its position in BlackRock by 22.4% in the third quarter. Benjamin F. Edwards & Company Inc. now owns 393 shares of the company’s stock valued at $142,000 after buying an additional 72 shares during the last quarter. Finally, Adirondack Trust Co. boosted its position in BlackRock by 16.7% in the third quarter. Adirondack Trust Co. now owns 420 shares of the company’s stock valued at $153,000 after buying an additional 60 shares during the last quarter. 80.82% of the stock is owned by institutional investors.

Garde Capital Inc. bought a new stake in shares of BlackRock, Inc. (NYSE:BLK) during the third quarter, Holdings Channel reports. The fund bought 3,025 shares of the company’s stock, valued at approximately $900,000.

BlackRock, Inc. (NYSE:BLK) opened at 382.89 on Monday. BlackRock, Inc. has a 1-year low of $297.04 and a 1-year high of $399.46. The company has a 50-day moving average of $379.67 and a 200 day moving average of $369.64. The stock has a market cap of $62.46 billion, a P/E ratio of 20.11 and a beta of 1.72.

BlackRock (NYSE:BLK) last posted its quarterly earnings results on Friday, January 13th. The company reported $5.14 EPS for the quarter, beating the consensus estimate of $5.02 by $0.12. The company earned $2.89 billion during the quarter, compared to analysts’ expectations of $2.93 billion. BlackRock had a return on equity of 11.20% and a net margin of 28.44%. The firm’s revenue was up .9% on a year-over-year basis. During the same quarter in the previous year, the business earned $4.75 EPS. Analysts predict that BlackRock, Inc. will post $21.36 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 23rd. Shareholders of record on Monday, March 6th will be issued a $2.50 dividend. This is a boost from BlackRock’s previous quarterly dividend of $2.29. This represents a $10.00 annualized dividend and a yield of 2.61%. BlackRock’s payout ratio is 48.11%.

Several research firms recently weighed in on BLK. Argus reaffirmed a “buy” rating and set a $400.00 target price on shares of BlackRock in a research note on Friday, October 21st. Wells Fargo & Company reiterated a “market perform” rating on shares of BlackRock in a research report on Friday, October 21st. Credit Suisse Group reiterated a “buy” rating and set a $464.00 price objective on shares of BlackRock in a research report on Thursday. Morgan Stanley reiterated a “market perform” rating on shares of BlackRock in a research report on Saturday, December 17th. Finally, Barclays PLC lowered their price objective on shares of BlackRock from $411.00 to $396.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 17th. Eight equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $403.16.

In other news, COO Robert L. Goldstein sold 10,374 shares of BlackRock stock in a transaction dated Friday, February 3rd. The stock was sold at an average price of $377.31, for a total value of $3,914,213.94. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider J. Richard Kushel sold 8,573 shares of BlackRock stock in a transaction dated Wednesday, February 8th. The shares were sold at an average price of $374.92, for a total value of $3,214,189.16. The disclosure for this sale can be found here. Insiders sold a total of 26,614 shares of company stock valued at $10,014,028 in the last 90 days. 2.20% of the stock is owned by company insiders.

About BlackRock

BlackRock, Inc is an investment management company. The Company provides a range of investment and risk management services to institutional and retail clients across the world. Its offerings include single and multi-asset class portfolios investing in equities, fixed income, alternatives and money market instruments.

Want to see what other hedge funds are holding BLK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for BlackRock, Inc. (NYSE:BLK).

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