Avidian Wealth Enterprises LLC Increases Stock Position in BlackRock, Inc. (NYSE:BLK)

Avidian Wealth Enterprises LLC grew its holdings in BlackRock, Inc. (NYSE:BLK) by 50.1% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,063 shares of the asset manager’s stock after purchasing an additional 355 shares during the period. Avidian Wealth Enterprises LLC’s holdings in BlackRock were worth $1,010,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Marino Stram & Associates LLC lifted its stake in BlackRock by 0.3% during the 3rd quarter. Marino Stram & Associates LLC now owns 3,399 shares of the asset manager’s stock valued at $3,227,000 after acquiring an additional 10 shares during the period. Onyx Bridge Wealth Group LLC lifted its position in BlackRock by 3.5% during the third 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 during the period. Ballentine Partners LLC boosted its holdings in BlackRock by 0.3% in the third quarter. Ballentine Partners LLC now owns 3,424 shares of the asset manager’s stock worth $3,251,000 after purchasing an additional 11 shares during the last quarter. Harbor Capital Advisors Inc. grew its position in BlackRock by 0.4% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 2,979 shares of the asset manager’s stock worth $2,829,000 after purchasing an additional 11 shares during the period. Finally, XML Financial LLC raised its stake in BlackRock by 2.6% during the 2nd quarter. XML Financial LLC now owns 473 shares of the asset manager’s stock valued at $372,000 after buying an additional 12 shares during the last quarter. Hedge funds and other institutional investors own 80.69% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently commented on the company. The Goldman Sachs Group upped their price objective on BlackRock from $960.00 to $1,040.00 and gave the company a “buy” rating in a research report on Thursday, October 3rd. Argus increased their price objective on shares of BlackRock from $880.00 to $910.00 and gave the stock a “buy” rating in a research note on Tuesday, July 16th. JPMorgan Chase & Co. boosted their target price on shares of BlackRock from $864.00 to $914.00 and gave the company a “neutral” rating in a research report on Monday, October 21st. TD Cowen increased their price target on shares of BlackRock from $960.00 to $1,077.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. Finally, 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. Three equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $995.31.

Insiders Place Their Bets

In other news, Director Mark Wiedman sold 12,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $875.03, for a total value of $10,500,360.00. Following the completion of the sale, the director now directly owns 6,480 shares of the company’s stock, valued at $5,670,194.40. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders sold 35,061 shares of company stock valued at $30,734,840 in the last three months. Corporate insiders own 0.90% of the company’s stock.

BlackRock Stock Performance

BLK opened at $1,029.82 on Thursday. 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 stock has a market capitalization of $152.55 billion, a price-to-earnings ratio of 25.42, a PEG ratio of 1.77 and a beta of 1.30. The company has a fifty day moving average of $947.54 and a 200 day moving average of $857.04. BlackRock, Inc. has a fifty-two week low of $646.91 and a fifty-two week high of $1,057.51.

BlackRock (NYSE:BLK) last announced its quarterly earnings results on Friday, October 11th. The asset manager reported $11.46 EPS for the quarter, beating analysts’ consensus estimates of $10.42 by $1.04. The company had revenue of $5.20 billion during the quarter, compared to analyst estimates of $5.03 billion. BlackRock had a return on equity of 15.52% and a net margin of 31.37%. The firm’s revenue was up 14.9% on a year-over-year basis. During the same period in the prior year, the company earned $10.91 earnings per share. As a group, sell-side analysts forecast that BlackRock, Inc. will post 42.94 earnings per share for the current fiscal 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.