Oppenheimer Asset Management Inc. Sells 4,356 Shares of LPL Financial Holdings Inc. $LPLA

Key Points

• Oppenheimer Asset Management reduced its stake in LPL by 30.8%, selling 4,356 shares and now holding 9,778 shares worth about $3.49 million.
• LPL reported a Q1 EPS beat at $5.60 (vs. $5.49 consensus), saw advisory assets rise ~42% YoY, and resumed capital returns with ~$125M planned buybacks and a $0.30 quarterly dividend.
• Analysts remain broadly positive—MarketBeat consensus is a "Moderate Buy" with a target around $398.86 and several firms raising targets—yet concerns about weaker recruited assets, a trimmed Commonwealth EBITDA outlook and recent insider selling temper the outlook.

Oppenheimer Asset Management Inc. lowered its stake in LPL Financial Holdings Inc. (NASDAQ:LPLA - Free Report) by 30.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 9,778 shares of the financial services provider's stock after selling 4,356 shares during the quarter. Oppenheimer Asset Management Inc.'s holdings in LPL Financial were worth $3,492,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its stake in LPL Financial by 4.0% in the 3rd quarter. Vanguard Group Inc. now owns 8,303,768 shares of the financial services provider's stock worth $2,762,581,000 after purchasing an additional 317,002 shares during the period. Massachusetts Financial Services Co. MA boosted its stake in LPL Financial by 14.7% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 3,719,447 shares of the financial services provider's stock worth $1,328,475,000 after purchasing an additional 477,094 shares during the period. Dodge & Cox boosted its stake in LPL Financial by 23.2% in the 3rd quarter. Dodge & Cox now owns 3,329,255 shares of the financial services provider's stock worth $1,107,610,000 after purchasing an additional 627,546 shares during the period. Capital World Investors boosted its stake in LPL Financial by 15,960.1% in the 3rd quarter. Capital World Investors now owns 2,628,551 shares of the financial services provider's stock worth $874,493,000 after purchasing an additional 2,612,184 shares during the period. Finally, Lone Pine Capital LLC boosted its stake in LPL Financial by 20.5% in the 3rd quarter. Lone Pine Capital LLC now owns 2,255,714 shares of the financial services provider's stock worth $750,453,000 after purchasing an additional 383,466 shares during the period. Institutional investors own 95.66% of the company's stock.

Analysts Set New Price Targets

Several brokerages have commented on LPLA. Citigroup restated a "market outperform" rating on shares of LPL Financial in a research note on Tuesday, February 3rd. Barclays raised their target price on LPL Financial from $369.00 to $412.00 and gave the stock an "overweight" rating in a research note on Friday. UBS Group raised their target price on LPL Financial from $380.00 to $395.00 and gave the stock a "buy" rating in a research note on Friday. Weiss Ratings restated a "hold (c)" rating on shares of LPL Financial in a research note on Monday, April 27th. Finally, Citizens Jmp restated a "market outperform" rating and issued a $500.00 target price on shares of LPL Financial in a research note on Monday, April 6th. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, LPL Financial has a consensus rating of "Moderate Buy" and a consensus target price of $398.86.

LPL Financial Stock Performance

NASDAQ:LPLA opened at $318.63 on Monday. The business's 50-day moving average price is $308.70 and its two-hundred day moving average price is $342.82. LPL Financial Holdings Inc. has a twelve month low of $281.51 and a twelve month high of $403.58. The stock has a market cap of $25.55 billion, a P/E ratio of 28.45, a PEG ratio of 0.87 and a beta of 0.57. The company has a quick ratio of 2.45, a current ratio of 2.45 and a debt-to-equity ratio of 1.36.

LPL Financial (NASDAQ:LPLA - Get Free Report) last released its quarterly earnings results on Thursday, April 30th. The financial services provider reported $5.60 earnings per share for the quarter, beating the consensus estimate of $5.49 by $0.11. LPL Financial had a return on equity of 32.06% and a net margin of 4.93%.The firm had revenue of $4.94 billion for the quarter, compared to analysts' expectations of $4.98 billion. During the same quarter last year, the firm posted $5.15 EPS. The company's revenue was up 34.6% compared to the same quarter last year. As a group, equities analysts predict that LPL Financial Holdings Inc. will post 23.02 EPS for the current fiscal year.

LPL Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 4th. Shareholders of record on Thursday, May 21st will be issued a $0.30 dividend. The ex-dividend date of this dividend is Thursday, May 21st. This represents a $1.20 annualized dividend and a dividend yield of 0.4%. LPL Financial's dividend payout ratio (DPR) is presently 10.71%.

Insider Buying and Selling at LPL Financial

In other LPL Financial news, Director Matthew Enyedi sold 2,109 shares of the firm's stock in a transaction dated Thursday, February 26th. The stock was sold at an average price of $320.15, for a total value of $675,196.35. Following the sale, the director owned 14,121 shares of the company's stock, valued at $4,520,838.15. This trade represents a 12.99% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Matthew J. Audette sold 1,110 shares of the firm's stock in a transaction dated Wednesday, April 15th. The shares were sold at an average price of $330.01, for a total value of $366,311.10. Following the completion of the sale, the chief financial officer directly owned 19,803 shares in the company, valued at approximately $6,535,188.03. The trade was a 5.31% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 8,569 shares of company stock valued at $2,720,733 in the last 90 days. Corporate insiders own 0.60% of the company's stock.

LPL Financial News Roundup

Here are the key news stories impacting LPL Financial this week:

• Positive Sentiment: Q1 beat on the top and bottom line — adjusted EPS of $5.60 and revenue of $4.94B, above consensus; gross profit and adjusted pre-tax income rose year-over-year, supporting profitability. LPL Financial Announces First-Quarter 2026 Results
• Positive Sentiment: Advisory assets and total client assets expanded materially (advisory assets +42% YoY; total client assets $2.3T), increasing recurring-fee exposure and long-term revenue mix. LPLA Q1 Earnings Beat — Zacks
• Positive Sentiment: Capital returns and shareholder-friendly actions: company resumed share repurchases (~$125M planned for Q2) and declared a quarterly dividend ($0.30/share), which can support valuation. LPL Q1 Slide Deck / Press Release
• Neutral Sentiment: JPMorgan slightly trimmed its price target (from $396 to $390) but kept an Overweight rating, signaling continued analyst conviction despite trimming assumptions. Benzinga — JPMorgan Price Target
• Neutral Sentiment: Full earnings call/transcript and analyst notes are available for deeper read-through of assumptions and guidance changes. Earnings Call Transcript — Seeking Alpha
• Negative Sentiment: Recruited assets plunged (~$17B; down ~55% YoY), and organic net new assets were modest ($21B), raising concerns about forward growth momentum for AUM-driven fees. This softness is a key driver of the intra-day decline. Quiver Quant — Asset Metrics & Price Reaction
• Negative Sentiment: Management lowered the estimated Commonwealth run‑rate EBITDA (to ~$410M from $425M) and flagged higher Core G&A, which tempers margin upside and near-term cash flow expectations. LPL Financial Q1 Release — GlobeNewswire
• Negative Sentiment: Market reaction is amplified by visible insider selling activity reported in recent months (multiple insiders selling, few purchases), which can add to near-term selling pressure. Quiver Quant — Insider & Institutional Activity

About LPL Financial

LPL Financial NASDAQ: LPLA is a U.S.-focused financial services firm that provides brokerage, custodial and advisory platforms to independent financial advisors, registered investment advisers and institutions. Operating primarily as an independent broker-dealer and custodian, the company supports a network of advisors with the operational, compliance and clearing infrastructure needed to manage client accounts and deliver investment advice outside of traditional wirehouse models.

The firm's product and service offerings include trade execution and clearing, custody services, retirement plan services, model portfolio and advisory platforms, wealth management technology, investment research and product access across equities, fixed income, mutual funds, exchange-traded funds and insurance and annuity solutions.

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