Hohimer Wealth Management LLC Makes New Investment in Block, Inc. (NYSE:SQ)

Hohimer Wealth Management LLC acquired a new stake in Block, Inc. (NYSE:SQ - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 15,253 shares of the technology company's stock, valued at approximately $984,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Montag A & Associates Inc. raised its stake in Block by 843.2% in the 4th quarter. Montag A & Associates Inc. now owns 349 shares of the technology company's stock valued at $27,000 after purchasing an additional 312 shares during the last quarter. Riverview Trust Co acquired a new stake in shares of Block in the 1st quarter worth $28,000. Tidemark LLC acquired a new stake in shares of Block in the 4th quarter worth $32,000. YHB Investment Advisors Inc. acquired a new stake in shares of Block in the 1st quarter worth $33,000. Finally, Vima LLC acquired a new stake in shares of Block in the 4th quarter worth $34,000. 70.44% of the stock is owned by institutional investors and hedge funds.

Block Stock Up 0.8 %

Shares of NYSE SQ traded up $0.52 during midday trading on Thursday, hitting $64.60. 3,685,374 shares of the company's stock were exchanged, compared to its average volume of 8,536,183. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.82 and a quick ratio of 1.82. Block, Inc. has a twelve month low of $38.85 and a twelve month high of $87.52. The company has a market cap of $39.77 billion, a PE ratio of 83.90, a P/E/G ratio of 1.16 and a beta of 2.49. The firm's fifty day simple moving average is $64.34 and its 200-day simple moving average is $69.73.

Block (NYSE:SQ - Get Free Report) last released its quarterly earnings results on Thursday, August 1st. The technology company reported $0.93 EPS for the quarter, topping the consensus estimate of $0.84 by $0.09. The company had revenue of $6.16 billion for the quarter, compared to analyst estimates of $6.27 billion. Block had a return on equity of 3.77% and a net margin of 3.47%. The firm's revenue was up 11.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.40 earnings per share. Research analysts predict that Block, Inc. will post 1.72 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

SQ has been the subject of a number of recent research reports. BMO Capital Markets raised their target price on Block from $92.00 to $93.00 and gave the stock an "outperform" rating in a research note on Friday, August 2nd. Royal Bank of Canada reiterated an "outperform" rating and set a $88.00 price target on shares of Block in a report on Friday, August 2nd. Keefe, Bruyette & Woods lowered their price target on Block from $82.00 to $74.00 and set a "market perform" rating for the company in a report on Monday, July 8th. Susquehanna reiterated a "positive" rating and set a $100.00 price target on shares of Block in a report on Wednesday, June 26th. Finally, The Goldman Sachs Group reiterated a "buy" rating and set a $80.00 price target on shares of Block in a report on Monday, June 24th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, twenty-five have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $87.52.

Insiders Place Their Bets

In other Block news, insider Brian Grassadonia sold 8,328 shares of Block 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 of the company's stock, valued at $37,572,170.22. The transaction was disclosed in a filing with the SEC, which is available at this link. In other Block news, insider Brian Grassadonia sold 8,328 shares of Block stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $64.77, for a total value of $539,404.56. Following the transaction, the insider now directly owns 580,086 shares in the company, valued at approximately $37,572,170.22. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Roelof Botha bought 434,405 shares of the stock in a transaction on Tuesday, August 6th. The stock was bought at an average price of $57.55 per share, for a total transaction of $25,000,007.75. Following the completion of the purchase, the director now directly owns 434,405 shares in the company, valued at approximately $25,000,007.75. The disclosure for this purchase can be found here. Insiders have sold a total of 28,179 shares of company stock valued at $1,833,962 over the last quarter. Company insiders own 10.49% of the company's stock.

Block Company 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.