Avidian Wealth Enterprises LLC Acquires 3,348 Shares of BlackRock $BLK

by · The Markets Daily

Avidian Wealth Enterprises LLC grew its holdings in shares of BlackRock (NYSE:BLK – Free Report) by 79.8% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 7,541 shares of the asset manager’s stock after acquiring an additional 3,348 shares during the period. Avidian Wealth Enterprises LLC’s holdings in BlackRock were worth $7,981,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in BLK. Breakwater Capital Group lifted its holdings in shares of BlackRock by 3.8% in the 1st quarter. Breakwater Capital Group now owns 271 shares of the asset manager’s stock worth $261,000 after acquiring an additional 10 shares during the last quarter. Stronghold Wealth Management L.L.C. boosted its stake in shares of BlackRock by 2.9% in the first quarter. Stronghold Wealth Management L.L.C. now owns 359 shares of the asset manager’s stock valued at $345,000 after purchasing an additional 10 shares during the period. Financial Management Professionals Inc. grew its stake in shares of BlackRock by 1.8% in the second quarter. Financial Management Professionals Inc. now owns 564 shares of the asset manager’s stock worth $542,000 after acquiring an additional 10 shares in the last quarter. JNBA Financial Advisors increased its position in shares of BlackRock by 1.4% during the second quarter. JNBA Financial Advisors now owns 706 shares of the asset manager’s stock worth $679,000 after acquiring an additional 10 shares during the period. Finally, Hilton Head Capital Partners LLC increased its stake in shares of BlackRock by 1.3% during the first quarter. Hilton Head Capital Partners LLC now owns 849 shares of the asset manager’s stock worth $816,000 after buying an additional 11 shares during the period. Institutional investors own 80.69% of the company’s stock.

BlackRock Stock Performance

BlackRock stock traded down $1.47 during trading hours on Thursday, reaching $1,068.16. 170,168 shares of the stock were exchanged, compared to its average volume of 739,490. BlackRock has a 52-week low of $917.39 and a 52-week high of $1,219.94. The stock has a market cap of $165.43 billion, a P/E ratio of 25.53, a P/E/G ratio of 1.22 and a beta of 1.41. The company has a debt-to-equity ratio of 0.33, a quick ratio of 3.59 and a current ratio of 3.59. The firm’s 50 day moving average is $1,110.65 and its 200 day moving average is $1,057.36.

BlackRock (NYSE:BLK – Get Free Report) last announced its quarterly earnings data on Wednesday, July 15th. The asset manager reported $13.91 earnings per share for the quarter, beating analysts’ consensus estimates of $12.69 by $1.22. The company had revenue of $7.08 billion for the quarter, compared to analyst estimates of $6.73 billion. BlackRock had a return on equity of 14.90% and a net margin of 24.09%.The firm’s revenue for the quarter was up 30.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $12.05 EPS. Analysts predict that BlackRock will post 55.73 EPS for the current fiscal year.

BlackRock Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 22nd. Shareholders of record on Tuesday, September 8th were issued a dividend of $5.73 per share. This represents a $22.92 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date was Tuesday, September 8th. BlackRock’s dividend payout ratio is 54.78%.

Analysts Set New Price Targets

BLK has been the topic of a number of recent analyst reports. Keefe, Bruyette & Woods downgraded BlackRock from a “moderate buy” rating to a “hold” rating in a report on Friday, August 7th. BNP Paribas Exane increased their target price on shares of BlackRock from $1,300.00 to $1,350.00 and gave the company an “outperform” rating in a research report on Tuesday, June 23rd. Bank of America boosted their price target on shares of BlackRock from $1,298.00 to $1,320.00 and gave the company a “buy” rating in a research report on Thursday, July 16th. Weiss Ratings cut BlackRock from a “buy (b)” rating to a “buy (b-)” rating in a research report on Tuesday, August 11th. Finally, Wells Fargo & Company reduced their price objective on BlackRock from $1,245.00 to $1,230.00 and set an “overweight” rating for the company in a research note on Thursday. One investment analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $1,303.35.

Check Out Our Latest Analysis on BlackRock

Key Stories Impacting BlackRock

Here are the key news stories impacting BlackRock this week:

  • Positive Sentiment: BlackRock and its partners are reportedly in exclusive talks to acquire Stack Infrastructure’s Asia-Pacific data-center assets in a potential $20 billion-to-$25 billion transaction. The deal would expand BlackRock’s exposure to AI and cloud infrastructure, although it could also require substantial capital. BlackRock in talks on data center deal
  • Positive Sentiment: BlackRock’s digital-asset franchise remains a growth driver: its spot Bitcoin ETFs have become the world’s largest pool of Bitcoin holdings, while executives continue promoting tokenized money-market funds, stablecoins and potential AI-related crypto payments. These initiatives could support future fee growth and asset gathering. Bitcoin ETFs reach 1,000 days
  • Positive Sentiment: Several BlackRock products have recently outperformed competing funds, including an income strategy that beat JEPI and a semiconductor fund that outpaced SMH over the past year. Strong performance can help attract new client assets, though past performance may not persist. BlackRock income fund performance
  • Neutral Sentiment: Fixed-income CIO Rick Rieder said short-term bonds remain attractive and indicated he is positioned for a hawkish Federal Reserve. Higher yields may benefit fixed-income demand, but persistent rate hikes can pressure equity valuations and economic activity. BlackRock’s Rieder on rates
  • Negative Sentiment: U.S. spot Bitcoin ETFs recorded approximately $485 million in net outflows, with BlackRock’s iShares Bitcoin Trust accounting for $207.7 million. The withdrawals reversed October’s previous inflows and directly weaken near-term sentiment toward BlackRock’s fastest-growing product area. Bitcoin ETF outflows
  • Negative Sentiment: Analysts expect earnings growth in BlackRock’s upcoming report, but some commentary says the company lacks the typical combination of positive earnings revisions and estimate momentum associated with a likely beat. That creates a near-term catalyst risk. BlackRock earnings expectations
  • Negative Sentiment: The Rosen Law Firm announced an investigation into potential securities claims involving BlackRock mutual funds, alleging potentially misleading business information. The announcement is preliminary, but it adds reputational and legal overhang. BlackRock investor investigation

About BlackRock

(Free Report)

BlackRock, Inc is a global investment management and financial technology company serving individual investors, institutions, governments and financial professionals. The company provides investment management, risk management and advisory services across a broad range of asset classes, including equities, fixed income, multi-asset strategies, alternatives and cash management.

BlackRock offers investment products through mutual funds, exchange-traded funds and other vehicles. Its iShares brand is one of the company’s principal platforms for exchange-traded funds, providing access to domestic and international markets, industry sectors, bonds, commodities and specialized investment strategies.

The company also provides technology and analytical solutions through its Aladdin platform, which is used by asset managers, institutional investors and other financial organizations for portfolio management, risk analysis, trading and operational support.

Featured Stories

Want to see what other hedge funds are holding BLK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for BlackRock (NYSE:BLK – Free Report).