Oppenheimer & Co. Inc. Sells 77 Shares of LPL Financial Holdings Inc. (NASDAQ:LPLA)

Oppenheimer & Co. Inc. trimmed its position in LPL Financial Holdings Inc. (NASDAQ:LPLA) by 6.9% during the first quarter, according to its most recent 13F filing with the SEC. The fund owned 1,036 shares of the financial services provider’s stock after selling 77 shares during the period. Oppenheimer & Co. Inc.’s holdings in LPL Financial were worth $210,000 as of its most recent filing with the SEC.

Other large investors also recently added to or reduced their stakes in the company. Private Advisor Group LLC bought a new stake in shares of LPL Financial during the 1st quarter valued at $4,682,000. Moran Wealth Management LLC grew its position in shares of LPL Financial by 326.0% during the 1st quarter. Moran Wealth Management LLC now owns 9,320 shares of the financial services provider’s stock worth $1,886,000 after buying an additional 7,132 shares during the period. Gateway Wealth Partners LLC acquired a new position in shares of LPL Financial during the 1st quarter worth about $605,000. Vanguard Personalized Indexing Management LLC grew its position in shares of LPL Financial by 8.8% during the 1st quarter. Vanguard Personalized Indexing Management LLC now owns 9,170 shares of the financial services provider’s stock worth $1,856,000 after buying an additional 740 shares during the period. Finally, Resources Investment Advisors LLC. acquired a new position in shares of LPL Financial during the 1st quarter worth about $770,000. 92.84% of the stock is currently owned by institutional investors and hedge funds.

LPL Financial Stock Down 1.2 %

LPL Financial stock opened at $230.59 on Friday. The company has a fifty day simple moving average of $226.35 and a 200 day simple moving average of $215.54. The company has a current ratio of 1.74, a quick ratio of 1.74 and a debt-to-equity ratio of 1.41. LPL Financial Holdings Inc. has a 1-year low of $179.00 and a 1-year high of $271.56. The company has a market cap of $17.59 billion, a P/E ratio of 15.69, a price-to-earnings-growth ratio of 0.76 and a beta of 0.92.

LPL Financial (NASDAQ:LPLA) last released its earnings results on Thursday, July 27th. The financial services provider reported $3.94 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.87 by $0.07. LPL Financial had a return on equity of 59.52% and a net margin of 12.53%. The business had revenue of $2.47 billion for the quarter, compared to analyst estimates of $2.44 billion. During the same quarter in the prior year, the company posted $2.24 earnings per share. LPL Financial’s revenue was up 21.1% on a year-over-year basis. Research analysts anticipate that LPL Financial Holdings Inc. will post 16.31 earnings per share for the current fiscal year.

LPL Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 25th. Investors of record on Friday, August 11th were given a dividend of $0.30 per share. The ex-dividend date was Thursday, August 10th. This represents a $1.20 annualized dividend and a yield of 0.52%. LPL Financial’s dividend payout ratio (DPR) is presently 8.16%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the stock. Morgan Stanley lifted their price target on shares of LPL Financial from $238.00 to $243.00 and gave the stock an “equal weight” rating in a research report on Monday, July 31st. Citigroup lifted their price target on shares of LPL Financial from $245.00 to $275.00 and gave the stock a “buy” rating in a research report on Friday, July 28th. Jefferies Financial Group raised their price target on LPL Financial from $246.00 to $253.00 in a research report on Monday, July 10th. JMP Securities reaffirmed a “market outperform” rating and set a $290.00 price target on shares of LPL Financial in a research report on Friday, August 18th. Finally, Bank of America raised their price target on LPL Financial from $232.00 to $233.00 in a research report on Sunday, July 30th. Six analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $245.67.

LPL Financial Company Profile

LPL Financial Holdings Inc, together with its subsidiaries, provides an integrated platform of brokerage and investment advisory services to independent financial advisors and financial advisors at enterprises in the United States. Its brokerage offerings include variable and fixed annuities, mutual funds, equities, retirement and education savings plans, fixed income, and insurance, as well as alternative investments, such as non-traded real estate investment trusts and auction rate notes.