Block, Inc. (NYSE:SQ) Stock Position Increased by Tempus Wealth Planning LLC

Tempus Wealth Planning LLC raised its position in Block, Inc. (NYSE:SQ) by 5.1% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 5,403 shares of the technology company’s stock after purchasing an additional 263 shares during the quarter. Tempus Wealth Planning LLC’s holdings in Block were worth $348,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in SQ. Montag A & Associates Inc. lifted its holdings in Block by 843.2% in the fourth quarter. Montag A & Associates Inc. now owns 349 shares of the technology company’s stock worth $27,000 after purchasing an additional 312 shares during the period. Riverview Trust Co acquired a new stake in shares of Block in the 1st quarter worth approximately $28,000. Tidemark LLC bought a new position in shares of Block in the fourth quarter valued at approximately $32,000. YHB Investment Advisors Inc. acquired a new position in shares of Block during the first quarter valued at approximately $33,000. Finally, Vima LLC bought a new stake in Block during the fourth quarter worth approximately $34,000. 70.44% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

SQ has been the subject of a number of research reports. The Goldman Sachs Group reaffirmed a “buy” rating and set a $80.00 price target on shares of Block in a research note on Monday, June 24th. Morgan Stanley lowered their target price on Block from $60.00 to $55.00 and set an “underweight” rating on the stock in a report on Tuesday, July 30th. TD Cowen upped their price target on shares of Block from $90.00 to $92.00 and gave the company a “buy” rating in a report on Friday, May 3rd. Citigroup lifted their price objective on shares of Block from $86.00 to $90.00 and gave the stock a “buy” rating in a research note on Monday, May 6th. Finally, Macquarie reissued an “outperform” rating and set a $100.00 target price on shares of Block in a research note on Friday, July 26th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $86.59.

Block Stock Up 2.4 %

Shares of NYSE:SQ traded up $1.52 during midday trading on Friday, hitting $65.36. 5,618,465 shares of the stock were exchanged, compared to its average volume of 8,718,805. The company has a market capitalization of $40.33 billion, a PE ratio of 84.88, a P/E/G ratio of 1.15 and a beta of 2.52. Block, Inc. has a 52-week low of $38.85 and a 52-week high of $87.52. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.82 and a current ratio of 1.82. The business’s fifty day simple moving average is $63.92 and its two-hundred day simple moving average is $69.88.

Block (NYSE:SQ) last posted its quarterly earnings results on Thursday, August 1st. The technology company reported $0.93 earnings per share for the quarter, topping analysts’ consensus estimates of $0.84 by $0.09. The company had revenue of $6.16 billion during the quarter, compared to the consensus estimate of $6.27 billion. Block had a return on equity of 3.77% and a net margin of 3.47%. The business’s quarterly revenue was up 11.2% on a year-over-year basis. During the same period last year, the business earned $0.40 EPS. As a group, research analysts predict that Block, Inc. will post 1.72 earnings per share for the current fiscal year.

Insider Buying and Selling at Block

In related news, CFO Amrita Ahuja sold 6,661 shares of the company’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $64.70, for a total value of $430,966.70. Following the completion of the sale, the chief financial officer now directly owns 264,697 shares in the company, valued at $17,125,895.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Block news, insider Brian Grassadonia sold 8,328 shares of the stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $64.77, for a total transaction of $539,404.56. Following the transaction, the insider now owns 580,086 shares in the company, valued at $37,572,170.22. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Amrita Ahuja sold 6,661 shares of the business’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $64.70, for a total transaction of $430,966.70. Following the completion of the sale, the chief financial officer now owns 264,697 shares of the company’s stock, valued at $17,125,895.90. The disclosure for this sale can be found here. Insiders sold 28,179 shares of company stock worth $1,833,962 over the last ninety days. 10.49% of the stock is currently owned by insiders.

Block Profile

Square, Inc provides payment and point-of-sale solutions in the United States and internationally. The company's commerce ecosystem includes point-of-sale software and hardware that enables sellers to turn mobile and computing devices into payment and point-of-sale solutions. It offers hardware products, including Magstripe reader, which enables swiped transactions of magnetic stripe cards; Contactless and chip reader that accepts EMV® chip cards and Near Field Communication payments; Chip card reader, which accepts EMV® chip cards and enables swiped transactions of magnetic stripe cards; Square Stand, which enables an iPad to be used as a payment terminal or full point of sale solution; and Square Register that combines its hardware, point-of-sale software, and payments technology, as well as managed payments solutions.