CMH Wealth Management LLC Lowers Stock Position in BlackRock, Inc. (NYSE:BLK)

CMH Wealth Management LLC reduced its position in BlackRock, Inc. (NYSE:BLK) by 3.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 7,706 shares of the asset manager’s stock after selling 267 shares during the quarter. BlackRock comprises about 1.8% of CMH Wealth Management LLC’s investment portfolio, making the stock its 24th biggest position. CMH Wealth Management LLC’s holdings in BlackRock were worth $7,899,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in BLK. Marino Stram & Associates LLC grew its stake in BlackRock by 0.3% during the third quarter. Marino Stram & Associates LLC now owns 3,399 shares of the asset manager’s stock worth $3,227,000 after buying an additional 10 shares during the period. Fidelity D & D Bancorp Inc. boosted its position in BlackRock by 3.7% during the 3rd quarter. Fidelity D & D Bancorp Inc. now owns 277 shares of the asset manager’s stock worth $263,000 after purchasing an additional 10 shares during the period. Onyx Bridge Wealth Group LLC increased its holdings in BlackRock by 3.5% in the 3rd quarter. Onyx Bridge Wealth Group LLC now owns 328 shares of the asset manager’s stock valued at $312,000 after purchasing an additional 11 shares in the last quarter. Ballentine Partners LLC increased its holdings in BlackRock by 0.3% in the 3rd quarter. Ballentine Partners LLC now owns 3,424 shares of the asset manager’s stock valued at $3,251,000 after purchasing an additional 11 shares in the last quarter. Finally, Harbor Capital Advisors Inc. raised its position 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 purchasing an additional 11 shares during the period. Institutional investors and hedge funds own 80.69% of the company’s stock.

Insider Buying and Selling

In other news, Director Mark Wiedman sold 36,190 shares of the company’s stock in a transaction dated Friday, December 6th. The shares were sold at an average price of $1,045.90, for a total transaction of $37,851,121.00. Following the completion of the transaction, the director now owns 6,480 shares in the company, valued at approximately $6,777,432. This represents a 84.81 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Robert L. Goldstein sold 54,000 shares of BlackRock stock in a transaction dated Thursday, December 5th. The shares were sold at an average price of $1,046.03, for a total transaction of $56,485,620.00. Following the completion of the sale, the chief operating officer now owns 41,916 shares in the company, valued at approximately $43,845,393.48. This represents a 56.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.90% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the company. JPMorgan Chase & Co. increased their target price on BlackRock from $914.00 to $971.00 and gave the company a “neutral” rating in a research note on Tuesday, January 14th. The Goldman Sachs Group increased their price objective on shares of BlackRock from $960.00 to $1,040.00 and gave the company a “buy” rating in a research report on Thursday, October 3rd. Barclays reduced their target price on shares of BlackRock from $1,220.00 to $1,160.00 and set an “overweight” rating on the stock in a research report on Monday, January 13th. Deutsche Bank Aktiengesellschaft raised their price target on shares of BlackRock from $1,215.00 to $1,275.00 and gave the company a “buy” rating in a report on Thursday, January 16th. Finally, StockNews.com assumed coverage on shares of BlackRock in a report on Thursday, January 16th. They issued a “hold” rating on the stock. Three equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, BlackRock presently has an average rating of “Moderate Buy” and a consensus target price of $1,103.33.

BlackRock Trading Up 0.9 %

NYSE:BLK opened at $1,004.23 on Tuesday. The company has a market cap of $155.54 billion, a PE ratio of 24.78, a P/E/G ratio of 1.53 and a beta of 1.28. The business’s 50 day moving average is $1,027.33 and its two-hundred day moving average is $948.40. 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, Inc. has a 52 week low of $745.55 and a 52 week high of $1,082.45.

BlackRock (NYSE:BLK) last announced its quarterly earnings data on Wednesday, January 15th. The asset manager reported $11.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $11.52 by $0.41. BlackRock had a return on equity of 15.52% and a net margin of 31.37%. The firm had revenue of $5.68 billion for the quarter, compared to analysts’ expectations of $5.57 billion. During the same period last year, the business posted $9.66 earnings per share. The firm’s revenue for the quarter was up 22.6% on a year-over-year basis. On average, analysts predict that BlackRock, Inc. will post 43.02 EPS for the current year.

BlackRock Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 23rd. Investors of record on Thursday, December 5th were given a dividend of $5.10 per share. This represents a $20.40 dividend on an annualized basis and a dividend yield of 2.03%. The ex-dividend date was Thursday, December 5th. BlackRock’s dividend payout ratio is presently 50.35%.

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.