Noesis Capital Mangement Corp Sells 124 Shares of BlackRock, Inc. (NYSE:BLK)

Noesis Capital Mangement Corp trimmed its stake in shares of BlackRock, Inc. (NYSE:BLK) by 8.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,435 shares of the asset manager’s stock after selling 124 shares during the quarter. Noesis Capital Mangement Corp’s holdings in BlackRock were worth $1,165,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Tennessee Valley Asset Management Partners acquired a new stake in BlackRock in the 4th quarter worth about $27,000. LFA Lugano Financial Advisors SA lifted its position in BlackRock by 208.3% during the fourth quarter. LFA Lugano Financial Advisors SA now owns 37 shares of the asset manager’s stock worth $30,000 after purchasing an additional 25 shares during the period. Wetzel Investment Advisors Inc. acquired a new stake in BlackRock during the fourth quarter worth about $32,000. Knuff & Co LLC lifted its stake in BlackRock by 48.1% during the fourth quarter. Knuff & Co LLC now owns 40 shares of the asset manager’s stock worth $32,000 after purchasing an additional 13 shares during the last quarter. Finally, Exchange Traded Concepts LLC increased its stake in shares of BlackRock by 671.4% in the 3rd quarter. Exchange Traded Concepts LLC now owns 54 shares of the asset manager’s stock valued at $35,000 after purchasing an additional 47 shares during the last quarter. Institutional investors and hedge funds own 80.69% of the company’s stock.

BlackRock Trading Up 0.9 %

NYSE BLK traded up $6.91 during trading hours on Friday, hitting $763.91. 558,283 shares of the company’s stock were exchanged, compared to its average volume of 689,289. BlackRock, Inc. has a 1-year low of $596.18 and a 1-year high of $845.00. The company has a current ratio of 3.48, a quick ratio of 3.48 and a debt-to-equity ratio of 0.32. The stock has a 50-day simple moving average of $797.35 and a 200 day simple moving average of $764.35. The firm has a market cap of $113.78 billion, a price-to-earnings ratio of 19.41, a PEG ratio of 1.57 and a beta of 1.37.

BlackRock (NYSE:BLK) last released its earnings results on Friday, April 12th. The asset manager reported $9.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $9.42 by $0.39. The company had revenue of $4.73 billion for the quarter, compared to the consensus estimate of $4.65 billion. BlackRock had a net margin of 32.26% and a return on equity of 15.34%. BlackRock’s quarterly revenue was up 11.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $7.93 EPS. On average, equities analysts forecast that BlackRock, Inc. will post 41.19 EPS for the current fiscal year.

Wall Street Analyst Weigh In

BLK has been the topic of a number of research reports. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $930.00 target price (up previously from $918.00) on shares of BlackRock in a research note on Friday, April 5th. TD Cowen upgraded shares of BlackRock from a “market perform” rating to an “outperform” rating and lifted their target price for the stock from $819.00 to $938.00 in a research report on Tuesday, January 16th. Morgan Stanley raised their price target on shares of BlackRock from $1,013.00 to $1,025.00 and gave the company an “overweight” rating in a research note on Monday, April 15th. UBS Group increased their price objective on BlackRock from $818.00 to $850.00 and gave the company a “neutral” rating in a report on Friday, April 12th. Finally, JPMorgan Chase & Co. lifted their target price on BlackRock from $742.00 to $767.00 and gave the stock a “neutral” rating in a report on Tuesday, April 2nd. Three investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $845.42.

Insider Transactions at BlackRock

In other BlackRock news, insider Marc D. Comerchero sold 450 shares of the business’s stock in a transaction on Monday, February 5th. The shares were sold at an average price of $785.11, for a total transaction of $353,299.50. Following the completion of the sale, the insider now owns 5,975 shares in the company, valued at approximately $4,691,032.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider Marc D. Comerchero sold 450 shares of the stock in a transaction on Monday, February 5th. The stock was sold at an average price of $785.11, for a total value of $353,299.50. Following the completion of the sale, the insider now directly owns 5,975 shares of the company’s stock, valued at approximately $4,691,032.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Stephen Cohen sold 950 shares of the firm’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $805.55, for a total value of $765,272.50. Following the transaction, the director now owns 4,437 shares in the company, valued at $3,574,225.35. The disclosure for this sale can be found here. Insiders have sold 72,057 shares of company stock valued at $58,575,704 in the last 90 days. 0.90% of the stock is currently owned by corporate insiders.

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.