Integrated Wealth Concepts LLC Has $536,000 Stock Position in Block, Inc. (NYSE:SQ)

Integrated Wealth Concepts LLC grew its position in Block, Inc. (NYSE:SQGet Rating) by 3.2% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 8,716 shares of the technology company’s stock after buying an additional 272 shares during the period. Integrated Wealth Concepts LLC’s holdings in Block were worth $536,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in SQ. Sandy Spring Bank boosted its stake in Block by 33.4% in the 1st quarter. Sandy Spring Bank now owns 1,170 shares of the technology company’s stock worth $159,000 after purchasing an additional 293 shares during the period. Glassman Wealth Services boosted its stake in Block by 42.3% in the 2nd quarter. Glassman Wealth Services now owns 1,264 shares of the technology company’s stock worth $78,000 after purchasing an additional 376 shares during the period. Desjardins Global Asset Management Inc. boosted its stake in Block by 23.3% in the 1st quarter. Desjardins Global Asset Management Inc. now owns 1,602 shares of the technology company’s stock worth $217,000 after purchasing an additional 303 shares during the period. GraniteShares Advisors LLC boosted its stake in Block by 7.2% in the 1st quarter. GraniteShares Advisors LLC now owns 2,266 shares of the technology company’s stock worth $307,000 after purchasing an additional 153 shares during the period. Finally, NovaPoint Capital LLC boosted its stake in Block by 37.0% in the 1st quarter. NovaPoint Capital LLC now owns 2,578 shares of the technology company’s stock worth $350,000 after purchasing an additional 696 shares during the period. Institutional investors and hedge funds own 62.26% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on SQ shares. Susquehanna Bancshares reduced their target price on shares of Block from $160.00 to $100.00 and set a “positive” rating for the company in a research note on Tuesday, July 19th. Citigroup reduced their price objective on shares of Block from $185.00 to $135.00 in a research note on Tuesday, July 26th. Sumitomo Mitsui Financial Group downgraded shares of Block from an “outperform” rating to a “neutral” rating and reduced their price objective for the stock from $120.00 to $70.00 in a research note on Wednesday, September 21st. Susquehanna reduced their price objective on shares of Block from $160.00 to $100.00 in a research note on Tuesday, July 19th. Finally, Atlantic Securities reduced their price objective on shares of Block from $110.00 to $75.00 and set an “overweight” rating for the company in a research note on Wednesday, October 12th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and thirty-three have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $119.90.

Block Stock Up 6.3 %

SQ stock opened at $71.66 on Friday. Block, Inc. has a 12 month low of $51.34 and a 12 month high of $241.50. The company has a quick ratio of 1.80, a current ratio of 1.86 and a debt-to-equity ratio of 0.25. The company has a 50-day moving average price of $60.53 and a 200 day moving average price of $71.12.

Block (NYSE:SQGet Rating) last announced its quarterly earnings results on Thursday, November 3rd. The technology company reported $0.01 earnings per share for the quarter, topping the consensus estimate of ($0.15) by $0.16. The firm had revenue of $4.52 billion during the quarter, compared to analysts’ expectations of $4.48 billion. Block had a negative net margin of 2.97% and a negative return on equity of 2.10%. On average, equities analysts expect that Block, Inc. will post -0.7 EPS for the current fiscal year.

Insider Transactions at Block

In related news, insider Alyssa Henry sold 30,769 shares of the stock in a transaction on Wednesday, August 24th. The shares were sold at an average price of $72.09, for a total transaction of $2,218,137.21. Following the sale, the insider now directly owns 428,058 shares of the company’s stock, valued at $30,858,701.22. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Block news, insider Alyssa Henry sold 30,769 shares of the stock in a transaction on Wednesday, August 24th. The shares were sold at an average price of $72.09, for a total transaction of $2,218,137.21. Following the transaction, the insider now directly owns 428,058 shares of the company’s stock, valued at $30,858,701.22. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Sivan Whiteley sold 4,045 shares of the stock in a transaction on Monday, October 3rd. The shares were sold at an average price of $54.61, for a total transaction of $220,897.45. Following the transaction, the insider now directly owns 108,220 shares in the company, valued at $5,909,894.20. The disclosure for this sale can be found here. Insiders have sold 381,967 shares of company stock worth $23,832,661 over the last 90 days. 11.52% of the stock is currently owned by company insiders.

About Block

(Get Rating)

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.

See Also

Institutional Ownership by Quarter for Block (NYSE:SQ)

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