Block, Inc. (NYSE:SQ) Stock Holdings Lowered by Global Wealth Management Investment Advisory Inc.

Global Wealth Management Investment Advisory Inc. reduced its holdings in Block, Inc. (NYSE:SQ) by 47.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 573 shares of the technology company’s stock after selling 524 shares during the quarter. Global Wealth Management Investment Advisory Inc.’s holdings in Block were worth $44,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in SQ. Clearbridge Investments LLC raised its holdings in shares of Block by 10.4% during the third quarter. Clearbridge Investments LLC now owns 1,222,600 shares of the technology company’s stock valued at $54,112,000 after acquiring an additional 115,132 shares during the period. Mn Services Vermogensbeheer B.V. raised its holdings in shares of Block by 1.5% during the third quarter. Mn Services Vermogensbeheer B.V. now owns 261,300 shares of the technology company’s stock valued at $11,565,000 after acquiring an additional 3,900 shares during the period. IFG Advisory LLC acquired a new stake in shares of Block during the fourth quarter valued at approximately $213,000. Canada Pension Plan Investment Board raised its holdings in shares of Block by 16.1% during the third quarter. Canada Pension Plan Investment Board now owns 1,373,857 shares of the technology company’s stock valued at $60,807,000 after acquiring an additional 190,400 shares during the period. Finally, CenterBook Partners LP acquired a new stake in shares of Block during the third quarter valued at approximately $359,000. 70.44% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Block news, insider Brian Grassadonia sold 127,800 shares of the stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $65.45, for a total value of $8,364,510.00. Following the completion of the sale, the insider now directly owns 405,224 shares of the company’s stock, valued at approximately $26,521,910.80. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Block news, insider Brian Grassadonia sold 127,800 shares of the stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $65.45, for a total value of $8,364,510.00. Following the completion of the sale, the insider now directly owns 405,224 shares of the company’s stock, valued at approximately $26,521,910.80. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CAO Ajmere Dale sold 656 shares of the stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $64.30, for a total transaction of $42,180.80. Following the completion of the sale, the chief accounting officer now directly owns 68,823 shares of the company’s stock, valued at $4,425,318.90. The disclosure for this sale can be found here. In the last three months, insiders sold 363,801 shares of company stock valued at $27,284,175. Company insiders own 10.79% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on SQ shares. Robert W. Baird boosted their price target on shares of Block from $95.00 to $98.00 and gave the company an “outperform” rating in a report on Friday, April 19th. Piper Sandler reiterated an “overweight” rating and issued a $88.00 price objective (up previously from $86.00) on shares of Block in a research note on Friday, February 23rd. Wolfe Research upped their price objective on shares of Block from $95.00 to $100.00 and gave the company an “outperform” rating in a research note on Thursday, April 11th. Canaccord Genuity Group upped their price objective on shares of Block from $80.00 to $95.00 and gave the company a “buy” rating in a research note on Monday, February 26th. Finally, Wedbush reiterated an “outperform” rating and issued a $90.00 price objective on shares of Block in a research note on Tuesday, February 20th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and twenty-eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $85.67.

Block Price Performance

NYSE SQ opened at $66.83 on Thursday. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.22. The company has a fifty day simple moving average of $77.77 and a 200 day simple moving average of $67.82. The company has a market cap of $41.15 billion, a P/E ratio of 429.41, a P/E/G ratio of 2.02 and a beta of 2.57. Block, Inc. has a 1 year low of $38.85 and a 1 year high of $87.52.

Block (NYSE:SQ) last posted its quarterly earnings data on Thursday, February 22nd. The technology company reported $0.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.02 by $0.01. The business had revenue of $5.77 billion during the quarter, compared to the consensus estimate of $5.69 billion. Block had a net margin of 0.04% and a return on equity of 0.63%. On average, sell-side analysts predict that Block, Inc. will post 1.11 EPS for the current year.

About Block

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.