IHT Wealth Management LLC Has $600,000 Position in LPL Financial Holdings Inc. (NASDAQ:LPLA)

IHT Wealth Management LLC raised its stake in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA – Get Rating) by 18.2% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,747 shares of the financial services provider’s stock after buying an additional 423 shares during the period. IHT Wealth Management LLC’s holdings in LPL Financial were worth $600,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the stock. Benjamin Edwards Inc. boosted its stake in shares of LPL Financial by 22.3% during the 3rd quarter. Benjamin Edwards Inc. now owns 225 shares of the financial services provider’s stock valued at $49,000 after buying an additional 41 shares during the period. Sanchez Wealth Management Group lifted its stake in shares of LPL Financial by 4.6% in the 3rd quarter. Sanchez Wealth Management Group now owns 1,571 shares of the financial services provider’s stock valued at $343,000 after purchasing an additional 69 shares during the last quarter. Advisors Asset Management Inc. lifted its stake in shares of LPL Financial by 0.9% in the 1st quarter. Advisors Asset Management Inc. now owns 8,065 shares of the financial services provider’s stock valued at $1,473,000 after purchasing an additional 75 shares during the last quarter. CWM LLC lifted its stake in shares of LPL Financial by 8.5% in the 3rd quarter. CWM LLC now owns 1,018 shares of the financial services provider’s stock valued at $222,000 after purchasing an additional 80 shares during the last quarter. Finally, Yousif Capital Management LLC lifted its stake in shares of LPL Financial by 3.6% in the 1st quarter. Yousif Capital Management LLC now owns 2,424 shares of the financial services provider’s stock valued at $443,000 after purchasing an additional 85 shares during the last quarter. Institutional investors and hedge funds own 94.89% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. Credit Suisse Group reduced their price objective on shares of LPL Financial from $283.50 to $266.00 and set an “outperform” rating for the company in a research note on Friday, February 3rd. Keefe, Bruyette & Woods lifted their price objective on shares of LPL Financial from $258.00 to $277.00 and gave the company an “outperform” rating in a research note on Thursday, January 12th. StockNews.com started coverage on shares of LPL Financial in a research report on Thursday. They set a “hold” rating for the company. JPMorgan Chase & Co. boosted their target price on shares of LPL Financial from $259.00 to $260.00 and gave the stock a “neutral” rating in a research report on Monday, January 23rd. Finally, William Blair reissued an “outperform” rating on shares of LPL Financial in a research report on Tuesday, January 17th. Four analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $260.88.

Insider Transactions at LPL Financial

In other news, Director Sallie R. Larsen sold 20,519 shares of the business’s stock in a transaction dated Monday, February 13th. The shares were sold at an average price of $241.84, for a total transaction of $4,962,314.96. Following the transaction, the director now owns 24,555 shares in the company, valued at approximately $5,938,381.20. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, CEO Dan H. Arnold sold 38,444 shares of the company’s stock in a transaction dated Monday, February 27th. The shares were sold at an average price of $246.20, for a total value of $9,464,912.80. Following the sale, the chief executive officer now owns 154,884 shares of the company’s stock, valued at $38,132,440.80. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Sallie R. Larsen sold 20,519 shares of the company’s stock in a transaction dated Monday, February 13th. The shares were sold at an average price of $241.84, for a total transaction of $4,962,314.96. Following the completion of the sale, the director now directly owns 24,555 shares in the company, valued at approximately $5,938,381.20. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 91,693 shares of company stock worth $22,341,455. 1.60% of the stock is currently owned by company insiders.

LPL Financial Stock Performance

NASDAQ:LPLA opened at $195.47 on Friday. The firm’s 50-day moving average is $235.14 and its 200-day moving average is $232.12. LPL Financial Holdings Inc. has a 52-week low of $165.47 and a 52-week high of $271.56. The company has a debt-to-equity ratio of 1.25, a quick ratio of 1.60 and a current ratio of 1.60. The company has a market cap of $15.38 billion, a price-to-earnings ratio of 18.76, a PEG ratio of 0.22 and a beta of 0.95.

LPL Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 28th. Stockholders of record on Tuesday, March 14th will be issued a dividend of $0.30 per share. This is an increase from LPL Financial’s previous quarterly dividend of $0.25. The ex-dividend date is Monday, March 13th. This represents a $1.20 annualized dividend and a dividend yield of 0.61%. LPL Financial’s payout ratio is presently 11.52%.

LPL Financial Company Profile

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LPL Financial Holdings, Inc serves independent financial advisors and financial institutions, providing them with the technology, research, clearing and compliance services, and practice management programs they need to create and grow their practices. It provides objective financial guidance to millions of American families seeking wealth management, retirement planning, financial planning and asset management solutions.