LPL Financial Holdings Inc. (NASDAQ:LPLA) Shares Bought by Horizon Wealth Management LLC

Horizon Wealth Management LLC raised its holdings in LPL Financial Holdings Inc. (NASDAQ:LPLA) by 8.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 675 shares of the financial services provider’s stock after purchasing an additional 54 shares during the period. Horizon Wealth Management LLC’s holdings in LPL Financial were worth $221,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the business. Procyon Advisors LLC acquired a new stake in LPL Financial in the first quarter valued at approximately $625,000. Thrive Wealth Management LLC grew its holdings in LPL Financial by 13.6% in the first quarter. Thrive Wealth Management LLC now owns 1,404 shares of the financial services provider’s stock valued at $459,000 after purchasing an additional 168 shares during the period. KWB Wealth grew its holdings in LPL Financial by 0.5% in the first quarter. KWB Wealth now owns 28,438 shares of the financial services provider’s stock valued at $9,285,000 after purchasing an additional 144 shares during the period. Lifestyle Asset Management Inc. grew its holdings in LPL Financial by 9.2% in the first quarter. Lifestyle Asset Management Inc. now owns 981 shares of the financial services provider’s stock valued at $321,000 after purchasing an additional 83 shares during the period. Finally, Portside Wealth Group LLC boosted its stake in shares of LPL Financial by 13.1% in the first quarter. Portside Wealth Group LLC now owns 1,043 shares of the financial services provider’s stock worth $341,000 after acquiring an additional 121 shares during the last quarter. 95.66% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. Wall Street Zen raised LPL Financial from a “hold” rating to a “buy” rating in a research note on Thursday, May 29th. JMP Securities lifted their price target on LPL Financial from $420.00 to $440.00 and gave the stock a “market outperform” rating in a research note on Friday, May 9th. Citigroup lowered their price target on LPL Financial from $415.00 to $400.00 and set a “buy” rating on the stock in a research note on Wednesday, April 2nd. Morgan Stanley lifted their price target on LPL Financial from $330.00 to $450.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 21st. Finally, Barclays lifted their price target on LPL Financial from $365.00 to $400.00 and gave the stock an “overweight” rating in a research note on Monday, May 12th. Thirteen analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $377.50.

LPL Financial Stock Performance

NASDAQ LPLA opened at $388.96 on Friday. The stock’s fifty day moving average is $341.36 and its two-hundred day moving average is $341.37. The firm has a market capitalization of $31.11 billion, a P/E ratio of 27.70, a price-to-earnings-growth ratio of 0.94 and a beta of 0.67. The company has a debt-to-equity ratio of 1.60, a quick ratio of 2.16 and a current ratio of 2.16. LPL Financial Holdings Inc. has a fifty-two week low of $187.19 and a fifty-two week high of $390.23.

LPL Financial (NASDAQ:LPLA) last released its quarterly earnings data on Thursday, May 8th. The financial services provider reported $5.15 earnings per share for the quarter, topping analysts’ consensus estimates of $4.54 by $0.61. The company had revenue of $3.67 billion for the quarter, compared to analyst estimates of $3.63 billion. LPL Financial had a return on equity of 49.41% and a net margin of 8.55%. The firm’s revenue for the quarter was up 4.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.83 earnings per share. On average, research analysts anticipate that LPL Financial Holdings Inc. will post 19.35 earnings per share for the current year.

LPL Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 12th. Shareholders of record on Friday, May 30th will be paid a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 0.31%. The ex-dividend date is Friday, May 30th. LPL Financial’s dividend payout ratio (DPR) is currently 8.30%.

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