2,902 Shares in LPL Financial Holdings Inc. (NASDAQ:LPLA) Purchased by Friedenthal Financial

Friedenthal Financial acquired a new position in LPL Financial Holdings Inc. (NASDAQ:LPLA - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 2,902 shares of the financial services provider's stock, valued at approximately $949,000.

Several other hedge funds have also recently made changes to their positions in the business. Bank of Montreal Can boosted its stake in LPL Financial by 46.9% during the fourth quarter. Bank of Montreal Can now owns 59,910 shares of the financial services provider's stock worth $19,561,000 after acquiring an additional 19,126 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of LPL Financial by 4.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 335,749 shares of the financial services provider's stock worth $109,625,000 after purchasing an additional 13,936 shares in the last quarter. Dynasty Wealth Management LLC grew its stake in shares of LPL Financial by 58.8% in the 4th quarter. Dynasty Wealth Management LLC now owns 6,165 shares of the financial services provider's stock valued at $2,013,000 after buying an additional 2,283 shares during the period. Pinnacle Wealth Planning Services Inc. bought a new stake in LPL Financial in the 4th quarter valued at about $450,000. Finally, Merit Financial Group LLC raised its stake in LPL Financial by 195.1% during the 1st quarter. Merit Financial Group LLC now owns 3,341 shares of the financial services provider's stock worth $1,093,000 after buying an additional 2,209 shares during the period. 95.66% of the stock is owned by institutional investors.

LPL Financial Stock Up 0.3%

Shares of LPLA traded up $1.28 during trading hours on Thursday, reaching $379.29. 475,356 shares of the stock traded hands, compared to its average volume of 837,970. LPL Financial Holdings Inc. has a 52 week low of $187.19 and a 52 week high of $390.23. The company has a market cap of $30.34 billion, a price-to-earnings ratio of 26.25, a PEG ratio of 1.04 and a beta of 0.67. The stock has a fifty day simple moving average of $353.23 and a 200 day simple moving average of $344.35. The company has a current ratio of 2.31, a quick ratio of 2.31 and a debt-to-equity ratio of 1.82.

LPL Financial (NASDAQ:LPLA - Get Free Report) 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 net margin of 8.23% and a return on equity of 46.34%. The firm had revenue of $3.67 billion during the quarter, compared to analyst estimates of $3.63 billion. During the same quarter last year, the business posted $3.83 EPS. The company's revenue for the quarter was up 4.5% on a year-over-year basis. On average, equities analysts forecast that LPL Financial Holdings Inc. will post 19.35 EPS for the current year.

LPL Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 12th. Investors of record on Friday, May 30th were given a dividend of $0.30 per share. 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 payout ratio is 8.30%.

Wall Street Analyst Weigh In

Several research analysts have issued reports on LPLA shares. Redburn Atlantic upgraded LPL Financial from a "neutral" rating to a "buy" rating and increased their price target for the stock from $420.00 to $460.00 in a report on Monday, June 9th. Wall Street Zen lowered LPL Financial from a "buy" rating to a "hold" rating in a research report on Saturday, June 14th. Citigroup downgraded shares of LPL Financial from a "buy" rating to a "neutral" rating and set a $400.00 price target for the company. in a research report on Monday, June 9th. Barclays boosted their price target on shares of LPL Financial from $400.00 to $450.00 and gave the company an "overweight" rating in a research note on Monday, June 9th. Finally, JMP Securities raised their price objective on shares of LPL Financial from $420.00 to $440.00 and gave the company a "market outperform" rating in a research note on Friday, May 9th. Two investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $387.69.

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.