LPL Financial Holdings Inc. (NASDAQ:LPLA) Shares Sold by Shepherd Financial Partners LLC

Shepherd Financial Partners LLC cut its holdings in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA - Free Report) by 65.4% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 4,755 shares of the financial services provider's stock after selling 9,000 shares during the quarter. Shepherd Financial Partners LLC's holdings in LPL Financial were worth $1,556,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Truist Financial Corp raised its position in LPL Financial by 7.9% in the fourth quarter. Truist Financial Corp now owns 192,153 shares of the financial services provider's stock valued at $62,740,000 after purchasing an additional 14,106 shares during the period. Bank of Montreal Can grew its stake in shares of LPL Financial by 46.9% in the fourth quarter. Bank of Montreal Can now owns 59,910 shares of the financial services provider's stock valued at $19,561,000 after buying an additional 19,126 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of LPL Financial by 4.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 335,749 shares of the financial services provider's stock valued at $109,625,000 after buying an additional 13,936 shares during the period. Dynasty Wealth Management LLC lifted its stake in LPL Financial by 58.8% during the 4th quarter. Dynasty Wealth Management LLC now owns 6,165 shares of the financial services provider's stock worth $2,013,000 after acquiring an additional 2,283 shares in the last quarter. Finally, Pinnacle Wealth Planning Services Inc. acquired a new position in LPL Financial during the 4th quarter worth about $450,000. 95.66% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on LPLA shares. Morgan Stanley lifted their target price on LPL Financial from $330.00 to $450.00 and gave the company an "overweight" rating in a research report on Wednesday, May 21st. Wall Street Zen cut shares of LPL Financial from a "buy" rating to a "hold" rating in a report on Saturday. 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. Citigroup cut 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. Finally, Wells Fargo & Company cut their price objective on LPL Financial from $405.00 to $342.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 8th. Two investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, LPL Financial currently has an average rating of "Moderate Buy" and an average price target of $387.69.

LPL Financial Stock Performance

NASDAQ:LPLA opened at $378.01 on Wednesday. The firm has a market capitalization of $30.23 billion, a PE ratio of 26.16, a price-to-earnings-growth ratio of 1.04 and a beta of 0.67. The company has a debt-to-equity ratio of 1.82, a current ratio of 2.31 and a quick ratio of 2.31. The business's fifty day moving average price is $352.02 and its 200 day moving average price is $344.10. LPL Financial Holdings Inc. has a 12 month low of $187.19 and a 12 month high of $390.23.

LPL Financial (NASDAQ:LPLA - Get Free Report) last issued its earnings results on Thursday, May 8th. The financial services provider reported $5.15 earnings per share for the quarter, topping the consensus estimate of $4.54 by $0.61. The business 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 46.34% and a net margin of 8.23%. The business's quarterly revenue was up 4.5% on a year-over-year basis. During the same quarter last year, the company earned $3.83 EPS. On average, sell-side analysts anticipate that LPL Financial Holdings Inc. will post 19.35 earnings per share for the current fiscal year.

LPL Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 12th. Stockholders of record on Friday, May 30th were given a dividend of $0.30 per share. The ex-dividend date was Friday, May 30th. This represents a $1.20 annualized dividend and a dividend yield of 0.32%. LPL Financial's dividend payout ratio is presently 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.

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