Kovack Advisors Inc. Invests $650,000 in H&R Block, Inc. (NYSE:HRB)

Kovack Advisors Inc. bought a new stake in shares of H&R Block, Inc. (NYSE:HRB - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 11,831 shares of the company's stock, valued at approximately $650,000.

Several other institutional investors have also bought and sold shares of HRB. Bogart Wealth LLC lifted its position in H&R Block by 42.9% during the first quarter. Bogart Wealth LLC now owns 666 shares of the company's stock valued at $37,000 after purchasing an additional 200 shares during the last quarter. GAMMA Investing LLC raised its position in H&R Block by 129.2% during the first quarter. GAMMA Investing LLC now owns 1,508 shares of the company's stock valued at $83,000 after purchasing an additional 850 shares during the period. GeoWealth Management LLC raised its position in H&R Block by 87.0% during the fourth quarter. GeoWealth Management LLC now owns 1,612 shares of the company's stock valued at $85,000 after purchasing an additional 750 shares during the period. Kapitalo Investimentos Ltda purchased a new stake in H&R Block during the fourth quarter valued at approximately $85,000. Finally, CIBC Private Wealth Group LLC raised its position in H&R Block by 11.0% during the fourth quarter. CIBC Private Wealth Group LLC now owns 2,646 shares of the company's stock valued at $144,000 after purchasing an additional 263 shares during the period. Institutional investors own 90.14% of the company's stock.

H&R Block Stock Down 0.7%

HRB traded down $0.37 on Friday, reaching $55.86. 1,043,305 shares of the company traded hands, compared to its average volume of 1,075,134. H&R Block, Inc. has a one year low of $49.16 and a one year high of $68.45. The firm has a fifty day simple moving average of $56.17 and a two-hundred day simple moving average of $55.75. The company has a market cap of $7.48 billion, a P/E ratio of 13.69, a price-to-earnings-growth ratio of 0.88 and a beta of 0.24.

H&R Block (NYSE:HRB - Get Free Report) last announced its quarterly earnings data on Wednesday, May 7th. The company reported $5.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.12 by $0.26. H&R Block had a negative return on equity of 179.57% and a net margin of 15.20%. The company had revenue of $2.28 billion for the quarter, compared to analysts' expectations of $2.25 billion. During the same quarter in the prior year, the firm earned $4.94 earnings per share. H&R Block's revenue was up 4.2% compared to the same quarter last year. On average, equities analysts forecast that H&R Block, Inc. will post 5.25 earnings per share for the current year.

H&R Block Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 3rd. Investors of record on Wednesday, June 4th were paid a $0.375 dividend. The ex-dividend date was Wednesday, June 4th. This represents a $1.50 annualized dividend and a yield of 2.69%. H&R Block's dividend payout ratio (DPR) is currently 36.76%.

Analyst Upgrades and Downgrades

HRB has been the subject of several analyst reports. The Goldman Sachs Group raised their target price on shares of H&R Block from $49.00 to $54.00 and gave the stock a "sell" rating in a report on Thursday, May 8th. Northcoast Research lowered shares of H&R Block from a "buy" rating to a "neutral" rating in a report on Friday, May 2nd. Wall Street Zen upgraded shares of H&R Block from a "hold" rating to a "buy" rating in a report on Friday, May 9th. Finally, Barrington Research restated an "outperform" rating and issued a $70.00 target price on shares of H&R Block in a report on Friday, April 25th.

H&R Block Company Profile

H&R Block, Inc engages in the provision of tax return preparation solutions, financial products and small business solutions. The company was founded by Henry W. Bloch and Richard A. Bloch on January 25, 1955, and is headquartered in Kansas City, MO.