Brightworth Acquires Shares of 13,785 BlackRock, Inc. (BLK)

Brightworth acquired a new stake in shares of BlackRock, Inc. (NYSE:BLK) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 13,785 shares of the asset manager’s stock, valued at approximately $6,163,000. BlackRock accounts for approximately 1.5% of Brightworth’s holdings, making the stock its 11th biggest holding.

A number of other hedge funds have also modified their holdings of the stock. North Point Portfolio Managers Corp OH increased its holdings in BlackRock by 1.5% during the third quarter. North Point Portfolio Managers Corp OH now owns 36,795 shares of the asset manager’s stock valued at $16,451,000 after buying an additional 535 shares during the period. Zevin Asset Management LLC increased its holdings in BlackRock by 9.5% during the third quarter. Zevin Asset Management LLC now owns 20,447 shares of the asset manager’s stock valued at $9,142,000 after buying an additional 1,776 shares during the period. Weatherly Asset Management L. P. increased its holdings in BlackRock by 4.2% during the third quarter. Weatherly Asset Management L. P. now owns 3,224 shares of the asset manager’s stock valued at $1,441,000 after buying an additional 130 shares during the period. Bainco International Investors grew its holdings in BlackRock by 4.4% in the third quarter. Bainco International Investors now owns 11,909 shares of the asset manager’s stock worth $5,324,000 after purchasing an additional 500 shares during the last quarter. Finally, Linscomb & Williams Inc. grew its holdings in BlackRock by 4.8% in the third quarter. Linscomb & Williams Inc. now owns 9,791 shares of the asset manager’s stock worth $4,378,000 after purchasing an additional 446 shares during the last quarter. 82.30% of the stock is currently owned by institutional investors.

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BlackRock, Inc. (BLK) traded down $0.77 during trading hours on Friday, hitting $465.83. 304,500 shares of the stock traded hands, compared to its average volume of 443,741. The firm has a market capitalization of $75,276.73, a P/E ratio of 21.62, a P/E/G ratio of 1.61 and a beta of 1.79. BlackRock, Inc. has a 1-year low of $365.83 and a 1-year high of $489.79. The company has a quick ratio of 3.22, a current ratio of 2.89 and a debt-to-equity ratio of 1.09.

BlackRock (NYSE:BLK) last posted its earnings results on Wednesday, October 11th. The asset manager reported $5.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.49 by $0.43. The company had revenue of $3.23 billion during the quarter, compared to the consensus estimate of $3.10 billion. BlackRock had a net margin of 29.52% and a return on equity of 12.01%. The firm’s quarterly revenue was up 14.0% on a year-over-year basis. During the same period in the previous year, the firm posted $5.14 earnings per share. research analysts forecast that BlackRock, Inc. will post 22.29 earnings per share for the current fiscal year.

Several equities analysts have issued reports on the stock. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $500.00 price target on shares of BlackRock in a report on Thursday, October 12th. Jefferies Group LLC reaffirmed a “hold” rating and issued a $465.00 price target on shares of BlackRock in a report on Thursday, October 12th. Credit Suisse Group reaffirmed an “outperform” rating on shares of BlackRock in a report on Thursday, October 12th. J P Morgan Chase & Co lifted their price target on shares of BlackRock to $558.00 and gave the stock an “overweight” rating in a report on Thursday, October 12th. Finally, Wells Fargo & Company reaffirmed a “market perform” rating and issued a $475.00 price target (up from $450.00) on shares of BlackRock in a report on Thursday, October 12th. Four equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $489.08.

In related news, insider Mark Mccombe sold 1,000 shares of the business’s stock in a transaction on Thursday, October 12th. The shares were sold at an average price of $478.99, for a total transaction of $478,990.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director J. Richard Kushel sold 100 shares of the business’s stock in a transaction on Thursday, October 12th. The shares were sold at an average price of $481.58, for a total transaction of $48,158.00. The disclosure for this sale can be found here. Insiders have sold 4,775 shares of company stock valued at $2,053,412 over the last 90 days. 1.86% of the stock is currently owned by insiders.

About BlackRock

BlackRock, Inc (BlackRock) is an investment management company. BlackRock provides a range of investment and risk management services to institutional and retail clients worldwide. Its diverse platform of active (alpha) and index (beta) investment strategies across asset classes enables the Company to tailor investment outcomes and asset allocation solutions for clients.

Institutional Ownership by Quarter for BlackRock (NYSE:BLK)

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