Heritage Wealth Management LLC Purchases Shares of 2,021 LPL Financial Holdings Inc. (NASDAQ:LPLA)

Heritage Wealth Management LLC acquired a new stake in LPL Financial Holdings Inc. (NASDAQ:LPLA) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 2,021 shares of the financial services provider’s stock, valued at approximately $460,000.

Several other institutional investors have also modified their holdings of the company. Smithfield Trust Co raised its position in LPL Financial by 164.4% in the third quarter. Smithfield Trust Co now owns 119 shares of the financial services provider’s stock worth $28,000 after acquiring an additional 74 shares in the last quarter. GAMMA Investing LLC acquired a new stake in LPL Financial during the fourth quarter valued at approximately $30,000. Cary Street Partners Investment Advisory LLC lifted its stake in LPL Financial by 770.0% during the third quarter. Cary Street Partners Investment Advisory LLC now owns 261 shares of the financial services provider’s stock valued at $62,000 after purchasing an additional 231 shares during the last quarter. Harvest Fund Management Co. Ltd boosted its holdings in LPL Financial by 724.2% during the third quarter. Harvest Fund Management Co. Ltd now owns 272 shares of the financial services provider’s stock worth $65,000 after buying an additional 239 shares in the last quarter. Finally, Tennessee Valley Asset Management Partners acquired a new position in LPL Financial in the fourth quarter worth approximately $73,000. Institutional investors and hedge funds own 95.66% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on LPLA shares. JMP Securities reiterated a “market outperform” rating and set a $305.00 price objective on shares of LPL Financial in a research report on Wednesday. Morgan Stanley raised LPL Financial from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $254.00 to $315.00 in a report on Tuesday, April 9th. Raymond James initiated coverage on LPL Financial in a research note on Thursday, April 4th. They issued an “underperform” rating on the stock. Barclays upped their price objective on shares of LPL Financial from $302.00 to $312.00 and gave the company an “overweight” rating in a research note on Monday, April 8th. Finally, JPMorgan Chase & Co. lifted their target price on shares of LPL Financial from $254.00 to $260.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 2nd. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and four have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $276.20.

Insider Activity at LPL Financial

In related news, CEO Dan H. Arnold sold 34,807 shares of the business’s stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $266.54, for a total value of $9,277,457.78. Following the completion of the sale, the chief executive officer now owns 141,810 shares of the company’s stock, valued at approximately $37,798,037.40. The sale was disclosed in a document filed with the SEC, which is available at this link. In other LPL Financial news, CEO Dan H. Arnold sold 34,807 shares of LPL Financial stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $266.54, for a total value of $9,277,457.78. Following the completion of the sale, the chief executive officer now directly owns 141,810 shares in the company, valued at $37,798,037.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Kabir Sethi sold 1,300 shares of the stock in a transaction on Monday, February 26th. The stock was sold at an average price of $266.50, for a total transaction of $346,450.00. Following the transaction, the director now owns 10,245 shares in the company, valued at approximately $2,730,292.50. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 60,151 shares of company stock valued at $15,911,088. Insiders own 1.30% of the company’s stock.

LPL Financial Stock Up 2.0 %

Shares of NASDAQ LPLA traded up $5.42 during mid-day trading on Thursday, reaching $270.91. The company had a trading volume of 111,948 shares, compared to its average volume of 537,109. The company has a debt-to-equity ratio of 1.80, a quick ratio of 1.77 and a current ratio of 1.77. The company has a market capitalization of $20.24 billion, a price-to-earnings ratio of 20.05, a PEG ratio of 1.30 and a beta of 0.83. The stock has a fifty day moving average of $264.62 and a two-hundred day moving average of $242.70. LPL Financial Holdings Inc. has a 12-month low of $179.00 and a 12-month high of $276.12.

LPL Financial (NASDAQ:LPLA) last released its earnings results on Thursday, February 1st. The financial services provider reported $3.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.33 by $0.18. LPL Financial had a net margin of 9.71% and a return on equity of 56.36%. The company had revenue of $2.64 billion during the quarter, compared to the consensus estimate of $2.55 billion. During the same quarter in the prior year, the firm earned $4.21 EPS. The company’s revenue was up 13.3% compared to the same quarter last year. As a group, equities research analysts expect that LPL Financial Holdings Inc. will post 15.55 EPS for the current year.

LPL Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 4th. Investors of record on Tuesday, May 21st will be issued a dividend of $0.30 per share. The ex-dividend date is Monday, May 20th. This represents a $1.20 annualized dividend and a dividend yield of 0.44%. LPL Financial’s dividend payout ratio is 9.06%.

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