Wealth Alliance Advisory Group LLC Acquires 664 Shares of BlackRock, Inc.

Wealth Alliance Advisory Group LLC has made a significant move by purchasing a new position in BlackRock, Inc. (NYSE:BLK) during the third quarter, as disclosed in a recent filing with the Securities and Exchange Commission. The institutional investor acquired 664 shares of BlackRock's stock, which is valued at approximately $630,000.

Institutional Investments

In recent months, there have been several changes in the holdings of BlackRock among various hedge funds and institutional investors. For instance, Redmont Wealth Advisors LLC bought a new stake in BlackRock valued at $27,000 in the first quarter. Additionally, Fairscale Capital LLC acquired shares worth about $31,000 in the second quarter, while Chilton Capital Management LLC increased its position in the first quarter with an investment of about $38,000.

Olistico Wealth LLC also made notable purchases during the second quarter with shares worth around $53,000. Another significant move came from ORG Partners LLC, which boosted its holdings by an impressive 257.9% in the second quarter, now owning 68 shares valued at $54,000 after acquiring an additional 49 shares. Currently, institutional investors hold around 80.69% of BlackRock's stock.

Insider Transactions

In other news related to BlackRock, CEO Laurence Fink executed a massive sale of 29,450 shares on August 6th, at an average price of $843.25. This transaction was valued at approximately $24.8 million. After this sale, CEO Fink retains 353,718 shares, with a value nearing $298.3 million. In a separate transaction on August 30th, Director Mark Wiedman sold 12,000 shares at an average price of $900.00, amounting to around $10.8 million. Following this sale, he owns 6,480 shares valued at about $5.8 million. Over the past three months, insiders have sold a total of 66,042 shares, valued at about $56.9 million. Notably, corporate insiders possess 0.90% of the company's stock.

Stock Performance

On Friday, shares of BlackRock trading under the ticker symbol BLK opened at $1,007.02. The company has seen a fifty-day moving average of $915.45 and a two-hundred-day moving average of $837.50. BlackRock holds a market capitalization of $149.64 billion with a PE ratio of 25.59, a P/E/G ratio of 1.94, and a beta of 1.30. Its debt-to-equity ratio stands at 0.37, with both current and quick ratio figures at 5.06.

The company has experienced a one-year lowest trading price of $596.18 and a peak of $1,032.00. On October 11th, BlackRock released its latest earnings results, reporting earnings per share of $11.46 for the quarter, which exceeded analysts' expectations of $10.42 by $1.04. The firm reported revenue of $5.20 billion, up 14.9% year-over-year, surpassing analyst estimates.

Dividend Update

Recently, BlackRock announced a quarterly dividend, distributed on September 23rd. Investors of record as of September 9th received a dividend of $5.10. This brings the annualized dividend to $20.40, providing a dividend yield of 2.03%. The company's dividend payout ratio is reported at 51.84%.

Analyst Ratings

Various research firms have recently reviewed shares of BlackRock, modifying their target prices. Wells Fargo & Company raised its target price from $1,000.00 to $1,070.00, assigning an "overweight" rating. Keefe, Bruyette & Woods increased their price objective from $915.00 to $934.00, giving the stock an "outperform" rating. JPMorgan Chase & Co. raised its price target to $864.00, while Morgan Stanley went further, lifting their target from $1,150.00 to $1,245.00. Overall, three analysts have rated BlackRock as a hold, while eleven have given it a buy rating. Data from MarketBeat.com reveals an average rating of "Moderate Buy" and an average target price of $991.46.

Conclusion

BlackRock, Inc. is a well-known investment management firm that services institutional and individual investors, offering various investment strategies and products. As market dynamics continue to shift, investor interest in BlackRock remains noteworthy, reflecting its robust position in the financial sector.

Wealth, Alliance, BlackRock, Investment, Shares