Hudock Inc. Has $3.42 Million Position in Blackstone Inc. (NYSE:BX)

Hudock Inc. reduced its stake in Blackstone Inc. (NYSE:BX) by 0.9% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 19,840 shares of the asset manager’s stock after selling 171 shares during the quarter. Blackstone makes up 0.6% of Hudock Inc.’s investment portfolio, making the stock its 27th largest holding. Hudock Inc.’s holdings in Blackstone were worth $3,421,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in BX. Sather Financial Group Inc lifted its holdings in shares of Blackstone by 202.5% during the third quarter. Sather Financial Group Inc now owns 6,050 shares of the asset manager’s stock worth $926,000 after buying an additional 4,050 shares during the last quarter. Portside Wealth Group LLC acquired a new position in shares of Blackstone during the third quarter worth approximately $201,000. Aljian Capital Management LLC acquired a new position in shares of Blackstone during the third quarter worth approximately $1,951,000. Icon Wealth Advisors LLC increased its position in shares of Blackstone by 2,185.4% during the third quarter. Icon Wealth Advisors LLC now owns 18,946 shares of the asset manager’s stock valued at $2,901,000 after purchasing an additional 18,117 shares during the period. Finally, Highland Capital Management LLC increased its position in shares of Blackstone by 214.2% during the fourth quarter. Highland Capital Management LLC now owns 22,303 shares of the asset manager’s stock valued at $3,845,000 after purchasing an additional 15,205 shares during the period. 70.00% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have recently issued reports on BX. BMO Capital Markets boosted their price objective on Blackstone from $134.00 to $157.00 and gave the company a “market perform” rating in a research report on Thursday, December 19th. Piper Sandler boosted their price objective on Blackstone from $168.00 to $179.00 and gave the company a “neutral” rating in a research report on Monday, December 23rd. Cowen restated a “hold” rating on shares of Blackstone in a research report on Friday, October 18th. JPMorgan Chase & Co. upped their price target on Blackstone from $149.00 to $154.00 and gave the company a “neutral” rating in a research report on Friday, January 31st. Finally, The Goldman Sachs Group upped their price target on Blackstone from $135.00 to $150.00 and gave the company a “neutral” rating in a research report on Friday, October 18th. Thirteen equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $172.38.

Blackstone Trading Down 2.4 %

NYSE:BX opened at $160.90 on Thursday. Blackstone Inc. has a 1-year low of $115.82 and a 1-year high of $200.96. The business’s 50-day moving average price is $177.56 and its two-hundred day moving average price is $164.16. The company has a current ratio of 0.67, a quick ratio of 0.71 and a debt-to-equity ratio of 0.61. The firm has a market capitalization of $116.17 billion, a price-to-earnings ratio of 44.33, a PEG ratio of 1.13 and a beta of 1.53.

Blackstone (NYSE:BX) last released its earnings results on Thursday, January 30th. The asset manager reported $1.69 earnings per share for the quarter, beating the consensus estimate of $1.50 by $0.19. Blackstone had a return on equity of 19.58% and a net margin of 20.99%. On average, equities analysts expect that Blackstone Inc. will post 5.88 earnings per share for the current year.

Blackstone Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, February 18th. Stockholders of record on Monday, February 10th will be given a dividend of $1.44 per share. The ex-dividend date is Monday, February 10th. This represents a $5.76 dividend on an annualized basis and a dividend yield of 3.58%. This is a positive change from Blackstone’s previous quarterly dividend of $0.86. Blackstone’s dividend payout ratio (DPR) is currently 94.77%.

Blackstone Company Profile

Blackstone Inc is an alternative asset management firm specializing in real estate, private equity, hedge fund solutions, credit, secondary funds of funds, public debt and equity and multi-asset class strategies. The firm typically invests in early-stage companies. It also provide capital markets services.