Bedell Frazier Investment Counselling LLC Buys New Shares in BlackRock $BLK

Bedell Frazier Investment Counselling LLC purchased a new position in shares of BlackRock (NYSE:BLK) in the second quarter, according to its most recent filing with the SEC. The firm purchased 3,152 shares of the asset manager’s stock, valued at approximately $3,307,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Garde Capital Inc. grew its stake in BlackRock by 200.0% during the second quarter. Garde Capital Inc. now owns 27 shares of the asset manager’s stock worth $28,000 after purchasing an additional 18 shares during the period. Whipplewood Advisors LLC grew its position in shares of BlackRock by 107.1% during the 2nd quarter. Whipplewood Advisors LLC now owns 29 shares of the asset manager’s stock worth $30,000 after buying an additional 15 shares during the period. Game Plan Financial Advisors LLC increased its stake in shares of BlackRock by 100.0% in the 1st quarter. Game Plan Financial Advisors LLC now owns 30 shares of the asset manager’s stock valued at $28,000 after acquiring an additional 15 shares in the last quarter. Creekmur Asset Management LLC lifted its position in shares of BlackRock by 87.5% during the 2nd quarter. Creekmur Asset Management LLC now owns 30 shares of the asset manager’s stock valued at $32,000 after acquiring an additional 14 shares during the period. Finally, Mid American Wealth Advisory Group Inc. bought a new position in BlackRock during the second quarter worth $34,000. 80.69% of the stock is owned by institutional investors and hedge funds.

BlackRock Trading Down 3.2%

NYSE BLK opened at $1,024.20 on Tuesday. The company has a current ratio of 4.04, a quick ratio of 4.04 and a debt-to-equity ratio of 0.39. The business has a fifty day simple moving average of $1,125.77 and a 200 day simple moving average of $1,076.97. BlackRock has a 12 month low of $773.74 and a 12 month high of $1,219.94. The firm has a market capitalization of $158.91 billion, a P/E ratio of 26.34, a PEG ratio of 1.90 and a beta of 1.48.

BlackRock (NYSE:BLK) last announced its earnings results on Tuesday, October 14th. The asset manager reported $11.55 EPS for the quarter, missing the consensus estimate of $11.78 by ($0.23). BlackRock had a net margin of 26.64% and a return on equity of 15.36%. The firm had revenue of $6.51 billion during the quarter, compared to analysts’ expectations of $6.22 billion. During the same quarter in the prior year, the company earned $11.46 EPS. The business’s revenue for the quarter was up 25.2% on a year-over-year basis. On average, analysts predict that BlackRock will post 47.41 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have weighed in on BLK. Argus lifted their price target on shares of BlackRock from $1,165.00 to $1,330.00 and gave the company a “buy” rating in a research note on Wednesday, October 15th. Evercore ISI upped their price target on BlackRock from $1,200.00 to $1,300.00 and gave the stock an “outperform” rating in a research note on Friday, November 7th. UBS Group reiterated a “hold” rating on shares of BlackRock in a report on Tuesday, October 21st. Keefe, Bruyette & Woods boosted their price objective on BlackRock from $1,215.00 to $1,300.00 and gave the company an “outperform” rating in a report on Monday, October 13th. Finally, Deutsche Bank Aktiengesellschaft cut their target price on BlackRock from $1,312.00 to $1,305.00 and set a “buy” rating on the stock in a report on Friday. Seventeen equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $1,302.53.

Insider Activity at BlackRock

In other BlackRock news, Director Rachel Lord sold 12,000 shares of BlackRock stock in a transaction that occurred on Monday, October 20th. The shares were sold at an average price of $1,165.04, for a total transaction of $13,980,480.00. Following the transaction, the director owned 7,205 shares of the company’s stock, valued at $8,394,113.20. This trade represents a 62.48% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 1.98% of the stock is currently owned by corporate insiders.

BlackRock 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.