LPL Financial Holdings Inc. (NASDAQ:LPLA) Shares Sold by Schechter Investment Advisors LLC

Schechter Investment Advisors LLC decreased its position in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA) by 21.8% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,159 shares of the financial services provider’s stock after selling 602 shares during the quarter. Schechter Investment Advisors LLC’s holdings in LPL Financial were worth $706,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of LPLA. Graney & King LLC acquired a new stake in LPL Financial during the 4th quarter valued at approximately $30,000. Private Trust Co. NA lifted its position in LPL Financial by 234.5% during the first quarter. Private Trust Co. NA now owns 97 shares of the financial services provider’s stock valued at $32,000 after purchasing an additional 68 shares during the period. MassMutual Private Wealth & Trust FSB lifted its position in LPL Financial by 63.9% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 100 shares of the financial services provider’s stock valued at $33,000 after purchasing an additional 39 shares during the period. City Holding Co. acquired a new position in LPL Financial during the first quarter valued at $34,000. Finally, Fourth Dimension Wealth LLC acquired a new position in LPL Financial during the fourth quarter valued at $40,000. Institutional investors and hedge funds own 95.66% of the company’s stock.

Insider Activity at LPL Financial

In other LPL Financial news, Director Greg Gates sold 1,500 shares of the stock in a transaction dated Thursday, July 3rd. The shares were sold at an average price of $382.63, for a total value of $573,945.00. Following the completion of the sale, the director owned 20,620 shares in the company, valued at approximately $7,889,830.60. This represents a 6.78% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.30% of the stock is owned by company insiders.

LPL Financial Stock Down 0.4%

LPLA opened at $370.48 on Tuesday. The company has a 50-day moving average price of $374.51 and a 200 day moving average price of $350.06. LPL Financial Holdings Inc. has a twelve month low of $187.19 and a twelve month high of $390.23. The company has a market cap of $29.63 billion, a PE ratio of 25.64, a price-to-earnings-growth ratio of 0.92 and a beta of 0.64. The company has a quick ratio of 2.31, a current ratio of 2.31 and a debt-to-equity ratio of 1.82.

LPL Financial (NASDAQ:LPLA) last posted its quarterly earnings data on Thursday, May 8th. The financial services provider reported $5.15 EPS for the quarter, beating the consensus estimate of $4.54 by $0.61. LPL Financial had a return on equity of 46.34% and a net margin of 8.23%. The firm had revenue of $3.67 billion during the quarter, compared to the consensus estimate of $3.63 billion. During the same period in the prior year, the company earned $3.83 EPS. The firm’s revenue was up 4.5% compared to the same quarter last year. Sell-side analysts expect that LPL Financial Holdings Inc. will post 19.35 earnings per share for the current fiscal year.

LPL Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 12th. Stockholders of record on Friday, May 30th were given a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.32%. The ex-dividend date of this dividend was Friday, May 30th. LPL Financial’s dividend payout ratio (DPR) is 8.30%.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. TD Cowen cut LPL Financial from a “strong-buy” rating to a “hold” rating and decreased their price objective for the company from $406.00 to $403.00 in a report on Wednesday, July 9th. Citigroup downgraded LPL Financial from a “neutral” rating to a “sell” rating and set a $80.00 price target for the company. in a report on Wednesday, July 9th. Redburn Atlantic upgraded shares of LPL Financial from a “neutral” rating to a “buy” rating and boosted their target price for the company from $420.00 to $460.00 in a research note on Monday, June 9th. Barclays boosted their target price on shares of LPL Financial from $450.00 to $460.00 and gave the company an “overweight” rating in a research note on Thursday, July 10th. Finally, Morgan Stanley upped their price objective on shares of LPL Financial from $330.00 to $450.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 21st. One analyst has rated the stock with a sell rating, two have assigned a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, LPL Financial presently has a consensus rating of “Moderate Buy” and a consensus target price of $369.08.

About LPL Financial

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.