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BlackRock Financial Management, Inc. is an investment advisory and hedge fund firm founded by Robert S. Kapito. The firm is a subsidiary of BlackRock, Inc. The firm caters to high net-worth individuals, banking or thrift institutions, pension and profit sharing plans, charitable organizations and corporations and manages over $150 billion in assets.

I discussed the Top Buys of BlackRock in my previous article here. In addition to buys, it is also interesting to have a look at top companies where BlackRock Capital is booking profit and selling its holdings.

The following is a list of its top 15 sells in the last quarter, as released in BlackRock's most recent 13F filing with the SEC.

Stock

Symbol

Shares Held - 12/31/2010

Shares Held - 03/31/2011

Motorola Solutions Inc

MSI

23,387,896

3,249,240

International Business Machines

IBM

5,238,269

4,783,676

Williams Companies Inc

WMB

4,179,178

2,455,511

General Electric Co

GE

46,695,856

44,113,471

Rowan Companies Inc

RDC

1,574,057

444,676

SanDisk Corp

SNDK

2,313,879

1,289,298

Intel Corporation

INTC

24,771,299

22,520,584

Gap Inc

GPS

5,950,666

3,990,732

AT&T Inc

T

23,143,084

21,727,252

International Paper Co

IP

5,632,827

4,206,860

News Corp

NWSA

11,712,725

9,355,126

Genworth Financial Inc

GNW

4,250,562

1,464,781

Morgan Stanley

MS

7,310,070

6,139,765

Exxon Mobil Corp

XOM

17,815,886

17,440,250

Covidien Plc

COV

826,373

0

Here are some of the specifics about these companies, including a brief description of their business, growth expectations (top line and bottom line) and valuation:

Motorola Solutions Inc

Blackrock sold 20,138,656 shares of Motorola Solutions Inc last quarter and now holds a total of 3,249,240 shares. This position is 0.24% of its portfolio. On January 4, 2011, the separation of Motorola Mobility Holdings, Inc (NYSE:MMI) from Motorola Solutions was completed. BlackRock likely booked profit after the spin off.

Motorola Solutions, Inc provides technologies, products, systems and services. Motorola Solutions’ portfolio include wireless handsets, wireless accessories, digital entertainment devices, set-top boxes and video distribution systems, analog and digital two-way radios, wireless and wireline broadband network products, and end-to-end enterprise mobility products. Motorola’s EPS forecast for the current year is $2.34 and for the next year is $2.60. According to consensus estimates, its top line is expected to decline 57.30% (not adjusted for spin off) in the current year and grow 5.10% next year. It is trading at a forward P/E of 18.03. Out of 23 analysts covering the company, four are positive and have buy ratings, 18 have hold ratings and one has a sell rating.

International Business Machines

BlackRock sold 454,593 shares of International Business Machines last quarter and now holds a total of 4,783,676 shares. This position is 1.28% of its portfolio. The share price of the company has increased from $146.76 on 31 December 2010 to $163.07 on 31 March 2011.

International Business Machines Corporation is an information technology (NYSE:IT) company. It operates under five segments: Global Technology Services (NYSE:GTS), Global Business Services (GBS), Software, Systems and Technology, and Global Financing. GTS primarily provides IT infrastructure services and business process services. GBS primarily provides professional services and application management services. IBM’s EPS forecast for the current year is $13.21 and next year is $14.60. According to consensus estimates, its top line is expected to grow 5.90% in the current year and 4.30% next year. It is trading at a forward P/E of 11.38. Out of 27 analysts covering the company, 16 are positive and have buy ratings and 11 three have hold ratings.

Williams Companies Inc

BlackRock sold 1,723,667 shares of Williams Companies Inc last quarter and now holds a total of 2,455,511 shares. This position is 0.13 % of its portfolio. The share price of the company has increased from $24.72 on 31 December 2010 to $31.18 on 31 March 2011.

The Williams Companies, Inc is an integrated natural gas company focused on exploration and production, midstream gathering and processing, and interstate natural gas transportation primarily in the Rocky Mountains, Gulf Coast, Pacific Northwest, Eastern Seaboard and the Marcellus Shale in Pennsylvania. Williams’ EPS forecast for the current year is $1.47 and next year is $1.74. According to consensus estimates, its top line is expected to grow 6.70% in the current year and 6.00% next year. It is trading at a forward P/E of 17.57. Out of 11 analysts covering the company, nine are positive and have buy ratings and two have hold ratings.

General Electric Co

Blackrock sold 2,582,385 shares of General Electric Co last quarter and now holds a total of 44,113,471 shares. This position is 1.45% of its portfolio. The share price of the company has increased from $18.29 on 31 December 2010 to $20.05 on 31 March 2011.

General Electric Company is a technology and financial services corporation. The Company's products and services range from aircraft engines, power generation, water processing, and household appliances to medical imaging, business and consumer financing and industrial products. GE’s EPS forecast for the current year is $1.36 and next year is $1.66. According to consensus estimates, its top line is expected to decline 2.20% in the current year and 0.80% next year. It is trading at a forward P/E of 11.83. Out of 18 analysts covering the company, 13 are positive and have buy ratings and five have hold ratings.

Rowan Companies Inc

BlackRock sold 1,129,381 shares of Rowan Companies Inc last quarter and now holds a total of 444,676 shares. This position is 0.03 % of its portfolio. The share price of the company has increased from $34.91 on 31 December 2010 to $44.18 on 31 March 2011.

Rowan Companies, Inc is a provider of international and domestic contract drilling services. Rowan also owns and operates a manufacturing division that produces equipment for the drilling, mining and timber industries. The Company operates in three segments: Drilling Services, Drilling Products and Systems, and Mining, Forestry and Steel Products. Rowan’s EPS forecast for the current year is $2.31 and for the next year is $3.89. According to consensus estimates, its top line is expected to grow 3.70% in the current year and 24.90% next year. It is trading at a forward P/E of 9.92. Out of 36 analysts covering the company, 24 are positive and have buy ratings, 11 have hold ratings and one has a sell rating.

SanDisk Corp

BlackRock sold 1,024,581 shares of SanDisk Corp Group Inc last quarter and now holds a total of 1,289,298 shares. This position is 0.10% of its portfolio. The share price of the company has increased from $49.86 on 31 December 2010 to $46.09 on 31 March 2011.

SanDisk Corporation is engaged in designing, developing and manufacturing data storage solutions in a range of form factors using the flash memory, controller and firmware technologies. The Company operates through flash memory storage products segment. Most of its products are manufactured by combining NAND flash memory with a controller chip. SanDisk’s EPS forecast for the current year is $4.39 and next year is $4.64. According to consensus estimates, its top line is expected to grow 19.40% in the current year and grow 14.30% next year. It is trading at a forward P/E of 9.78. Out of 19 analysts covering the company, 14 are positive and have buy ratings, three have hold ratings and two have sell ratings.

Intel Corporation

BlackRock sold shares of 2,250,715 Intel Corporation last quarter and now holds a total of 22,520,584 shares. This position is 0.75% of its portfolio. The share price of the company has increased from $21.03 on 31 December 2010 to $20.18 on 31 March 2011.

Intel Corporation is a semiconductor chip maker company. The Company develops advanced integrated digital technology products, primarily integrated circuits, for industries, such as computing and communications. The Company designs and manufactures computing and communications components, such as microprocessors, chipsets, motherboards, and wireless and wired connectivity products, as well as platforms that incorporate these components. Intel’s EPS forecast for the current year is $2.29 and next year is $2.39. According to consensus estimates, its top line is expected to grow 22.10% in the current year and 5.70% next year. It is trading at a forward P/E of 9.24. Out of 50 analysts covering the company, 31 are positive and have buy ratings, 16 have hold ratings and three have sell ratings.

Gap Inc

Blackrock sold 1,959,934 shares of Gap Inc last quarter and now holds a total of 3,990,732 shares. This position is 0.15% of its portfolio. The share price of the company has increased from $22.14 on 31 December 2010 to $22.66 on 31 March 2011.

The Gap, Inc is a global specialty retailer offering clothing, accessories, and personal care products for men, women, children, and babies under the Gap, Old Navy, banana republic, Piperlime, and Athleta brands. The company operates stores in the United States, Canada, the United Kingdom, France, Ireland, and Japan. Gap’s EPS forecast for the current year is $1.46 and next year is $1.75. According to consensus estimates, its top line is expected to grow 0.90% in the current year and 2.70% next year. It is trading at a forward P/E of 10.62. Out of 31 analysts covering the company, eight are positive and have buy ratings, 20 have hold ratings and three have sell ratings.

AT&T Inc

BlackRock sold 1,415,832 shares of AT&T Inc last quarter and now holds a total of 21,727,252 shares. This position is 1.09% of its portfolio. The share price of the company has increased from $29.38 on 31 December 2010 to $30.61 on 31 March 2011.

AT&T Inc is a holding company. The Company is a provider of telecommunications services in the United States and worldwide. These include wireless communications, local exchange services, long-distance services, data/broadband and Internet services, video services, managed networking, wholesale services and directory advertising and publishing. AT&T’s EPS forecast for the current year is $2.36 and next year is $2.54. According to consensus estimates, its top line is expected to grow 1.20% in the current year and 1.00% next year. It is trading at a forward P/E of 12.19. Out of 33 analysts covering the company, 17 are positive and have buy ratings and 16 have hold ratings.

International Paper Co

BlackRock sold 1,425,967 shares of International Paper Co last quarter and now holds a total of 4,206,860 shares. This position is 0.21% of its portfolio. The share price of the company has increased from $27.24 on 31 December 2010 to $30.18 on 31 March 2011.

International Paper Company is a global paper and packaging company, with markets and manufacturing operations in North America, Europe, Latin America, Russia, Asia and North Africa. As of December 31, 2010, in the United States, the Company operated 20 pulp, paper and packaging mills, 144 converting and packaging plants, 19 recycling plants and three bag facilities. International Paper’s EPS forecast for the current year is $2.98 and next year is $3.35. According to consensus estimates, its top line is expected to grow 5.20% in the current year and 3.00% next year. It is trading at a forward P/E of 9.05. Out of 15 analysts covering the company, 11 are positive and have buy ratings, two have hold ratings and two have sell ratings.

News Corp

BlackRock sold 2,357,599 shares of News Corp last quarter and now holds a total of 9,355,126 shares. This position is 0.27% of its portfolio. The share price of the company has increased from $14.56 on 31 December 2010 to $17.58 on 31 March 2011.

News Corporation is a diversified global media company. It has operations in eight segments: Filmed Entertainment, Television, Cable Network Programming, Direct Broadcast Satellite Television, Integrated Marketing Services, Newspapers and Information Services, Book Publishing, and Others. The Company’s activities are conducted in the United States, the United Kingdom, Continental Europe, Australia, Asia and Latin America. News Corp’s EPS forecast for the current year is $1.13 and for the next year is $1.34. According to consensus estimates, its top line is expected to grow 0.20% in the current year and 4.70% next year. It is trading at a forward P/E of 13.12. Out of 22 analysts covering the company, 16 are positive and have buy ratings and six have hold ratings.

Genworth Financial Inc

BlackRock sold 2,785,781 shares of Genworth Financial Inc last quarter and now holds a total of 1,464,781 shares. This position is 0.03% of its portfolio. The share price of the company has increased from $13.14 on 31 December 2010 to $13.46 on 31 March 2011.

Genworth Financial, Inc is a financial security company, which provides insurance, wealth management, investment and financial solutions. It provides homeownership, life security, wealth management and retirement security needs to its customers. Genworth’s EPS forecast for the current year is $1.00 and next year is $ 1.64. According to consensus estimates, its top line is expected to grow 4.20% in the current year and 3.70% next year. It is trading at a forward P/E of 6.74. Out of 17 analysts covering the company, four are positive and have buy ratings, ten have hold ratings and three have sell ratings.

Morgan Stanley

BlackRock sold 1,170,305 shares of Morgan Stanley last quarter and now holds a total of 6,139,765 shares. This position is 0.28% of its portfolio. The share price of the company has increased from $27.21 on 31 December 2010 to $27.32 on 31 March 2011.

Morgan Stanley is a global financial services firm that, through its subsidiaries and affiliates, provides its products and services to a group of clients and customers, including corporations, governments, financial institutions and individuals. The Company is a financial holding company. Morgan Stanley’s EPS forecast for the current year is $2.24 and for the next year is $2.98. According to consensus estimates, its top line is expected to grow 5.60% in the current year and 11.50% in the next year. It is trading at a forward P/E of 7.72. Out of 27 analysts covering the company, 13 are positive and have buy ratings, 13 have hold ratings and one has a sell rating.

Exxon Mobil Corp

BlackRock sold 375,636 shares of Exxon Mobil Corp last quarter and now holds a total of 17,440,250 shares. This position is 2.41% of its portfolio. The share price of the company has increased from $73.12 on 31 December 2010 to $84.13 on 31 March 2011.

Exxon Mobil Corporation is a manufacturer and marketer of commodity petrochemicals, including olefins, aromatics, polyethylene and polypropylene plastics and a range of specialty products. It also has interests in electric power generation facilities. Exxon Mobil’s EPS forecast for the current year is $8.81 and next year is $9.16. According to consensus estimates, its top line is expected to grow 28.10% in the current year and 5.90% next year. It is trading at a forward P/E of 8.88. Out of 20 analysts covering the company, eight are positive and have buy ratings and 11 have hold ratings and one has a sell rating.

Covidien Plc

BlackRock sold all (826,373) shares of Covidien Plc last quarter. The share price of the company has increased from $45.7 on 31 December 2010 to $51.94 on 31 March 2011.

Covidien Public Limited Company is engaged in the development, manufacture and sale of healthcare products for use in clinical and home settings. The Company operates its businesses through three segments: Medical Devices, Pharmaceuticals and Medical Supplies. Covidien’s EPS forecast for the current year is $3.86 and next year is $4.23. According to consensus estimates, its top line is expected to grow 9.50% in the current year and grow 4.70% next year. It is trading at a forward P/E of 12.97. Out of 22 analysts covering the company, 21 are positive and have buy ratings and one has a sell rating.

Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.

Source: BlackRock's Top 15 Sells