LPL Financial Holdings Inc. (NASDAQ:LPLA) is Tobam's 10th Largest Position

Tobam cut its stake in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA - Free Report) by 18.9% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 16,331 shares of the financial services provider's stock after selling 3,802 shares during the quarter. LPL Financial accounts for about 2.3% of Tobam's investment portfolio, making the stock its 10th largest holding. Tobam's holdings in LPL Financial were worth $5,343,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of LPLA. Truist Financial Corp boosted its position in LPL Financial by 7.9% during the 4th quarter. Truist Financial Corp now owns 192,153 shares of the financial services provider's stock valued at $62,740,000 after acquiring an additional 14,106 shares in the last quarter. Bank of Montreal Can lifted its stake in shares of LPL Financial by 46.9% in the 4th quarter. Bank of Montreal Can now owns 59,910 shares of the financial services provider's stock valued at $19,561,000 after purchasing an additional 19,126 shares during the period. Charles Schwab Investment Management Inc. lifted its stake 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 purchasing an additional 13,936 shares during the period. Dynasty Wealth Management LLC boosted its position in shares of LPL Financial by 58.8% during the fourth quarter. Dynasty Wealth Management LLC now owns 6,165 shares of the financial services provider's stock valued at $2,013,000 after purchasing an additional 2,283 shares in the last quarter. Finally, Pinnacle Wealth Planning Services Inc. purchased a new stake in LPL Financial in the fourth quarter worth $450,000. 95.66% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. Citigroup lowered shares of LPL Financial from a "buy" rating to a "neutral" rating and set a $400.00 price objective on the stock. in a research note on Monday. Barclays lifted their target price on shares of LPL Financial from $400.00 to $450.00 and gave the company an "overweight" rating in a report on Monday. JMP Securities upped 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. Wells Fargo & Company reduced their price objective on LPL Financial from $405.00 to $342.00 and set an "overweight" rating for the company in a research report on Tuesday, April 8th. Finally, Wall Street Zen upgraded LPL Financial from a "hold" rating to a "buy" rating in a research note on Thursday, May 29th. One analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, LPL Financial currently has an average rating of "Moderate Buy" and an average target price of $387.69.

LPL Financial Price Performance

LPLA stock traded down $5.31 during trading on Friday, hitting $374.08. The stock had a trading volume of 427,374 shares, compared to its average volume of 837,326. The company's 50-day moving average price is $348.98 and its two-hundred day moving average price is $343.24. LPL Financial Holdings Inc. has a twelve month low of $187.19 and a twelve month high of $390.23. The company has a debt-to-equity ratio of 1.60, a current ratio of 2.16 and a quick ratio of 2.16. The stock has a market capitalization of $29.92 billion, a P/E ratio of 26.64, a PEG ratio of 0.94 and a beta of 0.67.

LPL Financial (NASDAQ:LPLA - Get Free Report) last released its quarterly earnings results 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. The firm had revenue of $3.67 billion for the quarter, compared to analyst estimates of $3.63 billion. LPL Financial had a net margin of 8.55% and a return on equity of 49.41%. The business'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 earned $3.83 EPS. As a group, research analysts predict that LPL Financial Holdings Inc. will post 19.35 EPS for the current fiscal year.

LPL Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 12th. Shareholders of record on Friday, May 30th were issued a dividend of $0.30 per share. The ex-dividend date was Friday, May 30th. This represents a $1.20 dividend on an annualized basis and a yield of 0.32%. LPL Financial's payout ratio is currently 8.30%.

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.