Connectus Wealth LLC Has $1.35 Million Position in LPL Financial Holdings Inc. (NASDAQ:LPLA)

Connectus Wealth LLC lessened its stake in LPL Financial Holdings Inc. (NASDAQ:LPLAFree Report) by 2.0% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 5,934 shares of the financial services provider’s stock after selling 122 shares during the quarter. Connectus Wealth LLC’s holdings in LPL Financial were worth $1,353,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. EdgeRock Capital LLC acquired a new position in shares of LPL Financial during the 4th quarter valued at about $25,000. GAMMA Investing LLC acquired a new position in LPL Financial during the fourth quarter valued at approximately $30,000. Gladius Capital Management LP bought a new position in shares of LPL Financial in the fourth quarter valued at approximately $30,000. American National Bank acquired a new stake in shares of LPL Financial in the fourth quarter worth $32,000. Finally, Cary Street Partners Investment Advisory LLC lifted its stake in shares of LPL Financial by 770.0% in the third quarter. Cary Street Partners Investment Advisory LLC now owns 261 shares of the financial services provider’s stock worth $62,000 after buying an additional 231 shares during the last quarter. Hedge funds and other institutional investors own 95.66% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently commented on LPLA shares. TD Cowen lifted their target price on shares of LPL Financial from $269.00 to $271.00 and gave the stock a “hold” rating in a report on Wednesday, May 1st. Barclays boosted their price objective on LPL Financial from $302.00 to $312.00 and gave the stock an “overweight” rating in a research report on Monday, April 8th. Raymond James initiated coverage on LPL Financial in a report on Thursday, April 4th. They issued an “underperform” rating on the stock. JMP Securities reiterated a “market outperform” rating and set a $305.00 price target on shares of LPL Financial in a report on Wednesday, May 1st. Finally, UBS Group increased their price objective on LPL Financial from $260.00 to $267.00 and gave the company a “neutral” rating in a research report on Wednesday, February 14th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, LPL Financial presently has a consensus rating of “Hold” and a consensus target price of $276.20.

Read Our Latest Report on LPLA

LPL Financial Stock Performance

LPLA opened at $280.86 on Tuesday. The stock’s 50 day simple moving average is $269.75 and its 200-day simple moving average is $252.89. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 1.70. The stock has a market cap of $20.98 billion, a PE ratio of 21.21, a P/E/G ratio of 1.12 and a beta of 0.89. LPL Financial Holdings Inc. has a 1 year low of $195.59 and a 1 year high of $287.80.

LPL Financial (NASDAQ:LPLAGet Free Report) last announced its quarterly earnings results on Tuesday, April 30th. The financial services provider reported $4.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.77 by $0.44. The firm had revenue of $2.83 billion for the quarter, compared to analyst estimates of $2.68 billion. LPL Financial had a net margin of 9.71% and a return on equity of 55.22%. Sell-side analysts forecast that LPL Financial Holdings Inc. will post 15.85 EPS for the current year.

LPL Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 4th. Shareholders of record on Tuesday, May 21st were paid a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 0.43%. The ex-dividend date of this dividend was Monday, May 20th. LPL Financial’s dividend payout ratio is 9.06%.

LPL Financial Profile

(Free Report)

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, fixed income, alternative investments, retirement and 529 education savings plans, and insurance.

See Also

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Institutional Ownership by Quarter for LPL Financial (NASDAQ:LPLA)

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