Oak Harbor Wealth Partners LLC Invests $205,000 in BlackRock, Inc. (NYSE:BLK)

Oak Harbor Wealth Partners LLC bought a new stake in shares of BlackRock, Inc. (NYSE:BLK) in the 3rd quarter, according to its most recent filing with the SEC. The institutional investor bought 216 shares of the asset manager’s stock, valued at approximately $205,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Marino Stram & Associates LLC boosted its position in shares of BlackRock by 0.3% in the 3rd quarter. Marino Stram & Associates LLC now owns 3,399 shares of the asset manager’s stock worth $3,227,000 after purchasing an additional 10 shares in the last quarter. Onyx Bridge Wealth Group LLC lifted its stake in BlackRock by 3.5% during the third quarter. Onyx Bridge Wealth Group LLC now owns 328 shares of the asset manager’s stock worth $312,000 after purchasing an additional 11 shares in the last quarter. Ballentine Partners LLC increased its position in shares of BlackRock by 0.3% during the third quarter. Ballentine Partners LLC now owns 3,424 shares of the asset manager’s stock worth $3,251,000 after acquiring an additional 11 shares during the period. Harbor Capital Advisors Inc. increased its holdings in BlackRock by 0.4% in the third quarter. Harbor Capital Advisors Inc. now owns 2,979 shares of the asset manager’s stock valued at $2,829,000 after buying an additional 11 shares during the last quarter. Finally, Venturi Wealth Management LLC grew its holdings in shares of BlackRock by 0.7% during the third quarter. Venturi Wealth Management LLC now owns 1,524 shares of the asset manager’s stock worth $1,447,000 after purchasing an additional 11 shares during the last quarter. Institutional investors own 80.69% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on BLK shares. TD Cowen lifted their price target on shares of BlackRock from $960.00 to $1,077.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. Wells Fargo & Company boosted 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 report on Wednesday, October 9th. Evercore ISI increased their price objective on shares of BlackRock from $1,040.00 to $1,160.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. JPMorgan Chase & Co. raised their price objective on shares of BlackRock from $864.00 to $914.00 and gave the stock a “neutral” rating in a research note on Monday, October 21st. Finally, Deutsche Bank Aktiengesellschaft raised their price target on shares of BlackRock from $1,105.00 to $1,133.00 and gave the company a “buy” rating in a report on Monday. Three investment 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 presently has a consensus rating of “Moderate Buy” and an average target price of $1,019.62.

Insider Transactions at BlackRock

In related news, Director Mark Wiedman sold 12,000 shares of BlackRock stock in a transaction on Friday, August 30th. The shares were sold at an average price of $900.00, for a total value of $10,800,000.00. Following the completion of the sale, the director now owns 6,480 shares in the company, valued at approximately $5,832,000. The trade was a 64.94 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.90% of the company’s stock.

BlackRock Stock Performance

Shares of NYSE:BLK opened at $1,047.01 on Friday. The firm has a market cap of $155.09 billion, a PE ratio of 25.84, a price-to-earnings-growth ratio of 1.84 and a beta of 1.30. BlackRock, Inc. has a one year low of $697.70 and a one year high of $1,068.34. The company has a debt-to-equity ratio of 0.37, a quick ratio of 5.06 and a current ratio of 5.06. The firm’s 50 day simple moving average is $962.02 and its 200-day simple moving average is $866.74.

BlackRock (NYSE:BLK) last released its earnings results on Friday, October 11th. The asset manager reported $11.46 EPS for the quarter, topping analysts’ consensus estimates of $10.42 by $1.04. BlackRock had a net margin of 31.37% and a return on equity of 15.52%. The business had revenue of $5.20 billion during the quarter, compared to analysts’ expectations of $5.03 billion. During the same quarter in the previous year, the company earned $10.91 earnings per share. The company’s quarterly revenue was up 14.9% on a year-over-year basis. As a group, equities analysts predict that BlackRock, Inc. will post 43.17 EPS for the current year.

BlackRock Company 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.