Scott & Selber Inc. Has $2.24 Million Stock Position in BlackRock, Inc. (NYSE:BLK)

Scott & Selber Inc. decreased its stake in shares of BlackRock, Inc. (NYSE:BLK) by 0.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,357 shares of the asset manager’s stock after selling 13 shares during the period. Scott & Selber Inc.’s holdings in BlackRock were worth $2,238,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Fairscale Capital LLC bought a new position in BlackRock during the 2nd quarter worth about $31,000. Reston Wealth Management LLC acquired a new position in shares of BlackRock during the third quarter worth about $37,000. MFA Wealth Advisors LLC grew its holdings in shares of BlackRock by 100.0% during the third quarter. MFA Wealth Advisors LLC now owns 40 shares of the asset manager’s stock worth $38,000 after buying an additional 20 shares in the last quarter. Chilton Capital Management LLC acquired a new stake in BlackRock in the 1st quarter valued at approximately $38,000. Finally, Capital Performance Advisors LLP bought a new stake in BlackRock in the 3rd quarter valued at approximately $54,000. 80.69% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at BlackRock

In related news, Director Mark Wiedman sold 12,000 shares of the company’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $875.03, for a total value of $10,500,360.00. Following the transaction, the director now directly owns 6,480 shares in the company, valued at approximately $5,670,194.40. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders sold 35,061 shares of company stock worth $30,734,840 in the last ninety days. 0.90% of the stock is owned by company insiders.

BlackRock Price Performance

Shares of BLK opened at $1,039.28 on Friday. The company’s 50-day moving average is $953.10 and its 200-day moving average is $860.23. The company has a debt-to-equity ratio of 0.37, a current ratio of 5.06 and a quick ratio of 5.06. The firm has a market capitalization of $153.95 billion, a PE ratio of 25.65, a PEG ratio of 1.78 and a beta of 1.30. BlackRock, Inc. has a fifty-two week low of $650.63 and a fifty-two week high of $1,057.51.

BlackRock (NYSE:BLK) last issued its quarterly earnings data on Friday, October 11th. The asset manager reported $11.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $10.42 by $1.04. BlackRock had a net margin of 31.37% and a return on equity of 15.52%. The firm had revenue of $5.20 billion during the quarter, compared to the consensus estimate of $5.03 billion. During the same period last year, the business posted $10.91 earnings per share. The business’s revenue for the quarter was up 14.9% compared to the same quarter last year. Equities analysts forecast that BlackRock, Inc. will post 42.94 EPS for the current year.

Analyst Ratings Changes

A number of analysts have recently issued reports on BLK shares. The Goldman Sachs Group lifted their price objective on shares of BlackRock from $960.00 to $1,040.00 and gave the company a “buy” rating in a 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. Morgan Stanley lifted their target price on BlackRock from $1,150.00 to $1,245.00 and gave the company an “overweight” rating in a research report on Monday, October 14th. JPMorgan Chase & Co. increased their price target on BlackRock from $864.00 to $914.00 and gave the company a “neutral” rating in a research report on Monday, October 21st. Finally, Wells Fargo & Company boosted their price target on BlackRock from $1,000.00 to $1,070.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 9th. Three analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $1,004.54.

About BlackRock

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.