Wealth Alliance Advisory Group LLC Acquires Shares in BlackRock, Inc.

Wealth Alliance Advisory Group LLC has made a significant investment in BlackRock, Inc. (NYSE:BLK) during the third quarter, as disclosed in their recent report to the Securities and Exchange Commission. The institutional investor acquired 664 shares of BlackRock's stock, with an approximate valuation of $630,000.

Recent Institutional Changes

In addition to Wealth Alliance, several other institutional investors have adjusted their positions in BlackRock recently. For instance, Redmont Wealth Advisors LLC established a new stake in BlackRock during the first quarter worth around $27,000. Fairscale Capital LLC bought into the company during the second quarter, investing approximately $31,000. Similarly, Chilton Capital Management LLC acquired a new position in the first quarter valued at about $38,000. Olistico Wealth LLC invested around $53,000 in BlackRock during the second quarter. Furthermore, ORG Partners LLC increased its shareholdings in BlackRock by 257.9% in the second quarter, bringing their total to 68 shares valued at $54,000. Currently, institutional investors collectively hold about 80.69% of BlackRock's stock.

Insider Transactions

Recent insider trading activity has also been noteworthy. CEO Laurence Fink sold 29,450 shares of BlackRock stock on August 6th at an average price of $843.25, totaling approximately $24.8 million. After this sale, Fink held 353,718 shares, valued at about $298.3 million, reflecting no change in his ownership percentage. This transaction was documented in a filing with the SEC. Additionally, Director Mark Wiedman sold 12,000 shares of BlackRock on August 30th for an average price of $900.00, amounting to approximately $10.8 million. After the sale, he retained 6,480 shares, valued at around $5.8 million, with no change in his ownership stake. In the past three months, insiders have disposed of 66,042 shares, with a combined value of $56.9 million. Corporate insiders currently own 0.90% of BlackRock's stock.

Current Stock Performance

On Friday, NYSE BLK opened at $1,007.02. The company's fifty-day moving average stands at $915.45, while the 200-day moving average is $837.50. BlackRock boasts a market capitalization of $149.64 billion with a price-to-earnings (P/E) ratio of 25.59, a P/E/G ratio of 1.94, and a beta of 1.30. Its debt-to-equity ratio is 0.37, with both the current and quick ratio being 5.06. Over the past year, the stock has seen a low of $596.18 and a high of $1,032.00.

Dividend Announcement

In its recent updates, BlackRock announced a quarterly dividend payment made on September 23rd. Investors recorded as of September 9th received a dividend of $5.10, equating to an annualized dividend of $20.40 and a yield of 2.03%. The ex-dividend date for this dividend was also September 9th. BlackRock's current dividend payout ratio is 51.84%.

Analyst Ratings and Outlook

Various research firms have recently issued updated ratings and price targets for BlackRock. Wells Fargo & Company raised their price target from $1,000.00 to $1,070.00, assigning an "overweight" rating. Keefe, Bruyette & Woods adjusted their price objective from $915.00 to $934.00, rating the stock as "outperform." Similarly, JPMorgan Chase & Co. increased their target from $774.00 to $864.00, maintaining a "neutral" rating. Morgan Stanley and The Goldman Sachs Group also raised their targets, with Morgan Stanley setting a new price target of $1,245.00 and Goldman Sachs adjusting it to $1,040.00. Overall, three investment analysts rated the stock as a hold, while eleven gave it a buy rating, leading to an average rating of "Moderate Buy" with a price target of $991.46 according to MarketBeat data.

Company Overview

BlackRock, Inc. serves as a publicly owned investment manager, offering services to a wide array of clients, including institutional, intermediary, and individual investors such as pension plans, insurance companies, mutual funds, governments, and foundations.

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