Gradient Investments LLC Decreases Stake in LPL Financial Holdings Inc. (NASDAQ:LPLA)

Gradient Investments LLC lessened its holdings in LPL Financial Holdings Inc. (NASDAQ:LPLA - Free Report) by 10.7% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 6,480 shares of the financial services provider's stock after selling 779 shares during the quarter. Gradient Investments LLC's holdings in LPL Financial were worth $2,120,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently bought and sold shares of LPLA. Graney & King LLC bought a new position in LPL Financial during the 4th quarter worth about $30,000. MassMutual Private Wealth & Trust FSB grew its holdings in LPL Financial by 63.9% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 100 shares of the financial services provider's stock worth $33,000 after acquiring an additional 39 shares in the last quarter. Fourth Dimension Wealth LLC bought a new position in LPL Financial during the 4th quarter worth about $40,000. Itau Unibanco Holding S.A. bought a new position in LPL Financial during the 4th quarter worth about $42,000. Finally, Jones Financial Companies Lllp grew its holdings in LPL Financial by 45.3% during the 4th quarter. Jones Financial Companies Lllp now owns 138 shares of the financial services provider's stock worth $45,000 after acquiring an additional 43 shares in the last quarter. Institutional investors own 95.66% of the company's stock.

LPL Financial Price Performance

Shares of LPL Financial stock traded down $9.78 on Wednesday, reaching $376.23. The company's stock had a trading volume of 498,224 shares, compared to its average volume of 836,073. The company has a market capitalization of $30.09 billion, a P/E ratio of 26.80, a PEG ratio of 0.94 and a beta of 0.65. LPL Financial Holdings Inc. has a 52-week low of $187.19 and a 52-week high of $390.23. The stock has a 50-day moving average price of $338.44 and a 200-day moving average price of $340.16. The company has a quick ratio of 2.16, a current ratio of 2.16 and a debt-to-equity ratio of 1.60.

LPL Financial (NASDAQ:LPLA - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The financial services provider reported $5.15 EPS for the quarter, topping the consensus estimate of $4.54 by $0.61. The firm had revenue of $3.67 billion during the quarter, compared to analysts' expectations 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% on a year-over-year basis. During the same period in the previous year, the business earned $3.83 earnings per share. Analysts expect 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 will be paid on Thursday, June 12th. Stockholders of record on Friday, May 30th will be paid a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 0.32%. The ex-dividend date of this dividend is Friday, May 30th. LPL Financial's dividend payout ratio (DPR) is presently 8.30%.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on LPLA. JMP Securities increased their target price on shares of LPL Financial from $420.00 to $440.00 and gave the stock a "market outperform" rating in a report on Friday, May 9th. Wall Street Zen raised LPL Financial from a "hold" rating to a "buy" rating in a research report on Thursday, May 29th. Morgan Stanley raised their price objective on LPL Financial from $330.00 to $450.00 and gave the company an "overweight" rating in a research report on Wednesday, May 21st. Barclays raised their price objective on LPL Financial from $365.00 to $400.00 and gave the company an "overweight" rating in a research report on Monday, May 12th. Finally, Citigroup dropped their price objective on LPL Financial from $415.00 to $400.00 and set a "buy" rating on the stock in a research report on Wednesday, April 2nd. Thirteen research analysts have rated the stock with a buy rating, According to MarketBeat, LPL Financial currently has a consensus rating of "Buy" and an average price target of $377.50.

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.