U.S. Capital Wealth Advisors LLC Invests $2.98 Million in LPL Financial Holdings Inc. $LPLA

Key Points

• U.S. Capital Wealth Advisors LLC has invested approximately $2.98 million in LPL Financial Holdings Inc., acquiring 7,948 shares of the company's stock.
• Several analysts have updated their ratings for LPL Financial, with ten analysts rating it as a Buy and an average target price of $391.54.
• LPL Financial recently announced a quarterly dividend of $0.30 per share, representing an annualized yield of 0.4%.

U.S. Capital Wealth Advisors LLC bought a new position in LPL Financial Holdings Inc. (NASDAQ:LPLA - Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 7,948 shares of the financial services provider's stock, valued at approximately $2,980,000.

Other large investors have also recently made changes to their positions in the company. Summit Securities Group LLC bought a new stake in shares of LPL Financial in the first quarter worth about $26,000. Millstone Evans Group LLC increased its stake in LPL Financial by 123.1% during the first quarter. Millstone Evans Group LLC now owns 87 shares of the financial services provider's stock worth $28,000 after acquiring an additional 48 shares during the last quarter. Private Trust Co. NA increased its stake in LPL Financial by 234.5% during the first quarter. Private Trust Co. NA now owns 97 shares of the financial services provider's stock worth $32,000 after acquiring an additional 68 shares during the last quarter. MassMutual Private Wealth & Trust FSB increased its stake in LPL Financial by 63.9% during the first 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 during the last quarter. Finally, City Holding Co. bought a new stake in LPL Financial during the first quarter worth approximately $34,000. 95.66% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

LPLA has been the topic of several analyst reports. Rothschild & Co Redburn cut LPL Financial from a "buy" rating to a "neutral" rating and set a $390.00 price objective on the stock. in a research note on Friday. Redburn Atlantic raised LPL Financial from a "neutral" rating to a "buy" rating and boosted their price objective for the stock from $420.00 to $460.00 in a research note on Monday, June 9th. The Goldman Sachs Group initiated coverage on LPL Financial in a research note on Friday, September 12th. They set a "buy" rating and a $405.00 price objective on the stock. Citigroup cut LPL Financial from a "neutral" rating to a "sell" rating and set a $80.00 price objective on the stock. in a research note on Wednesday, July 9th. Finally, Morgan Stanley reaffirmed an "overweight" rating and set a $490.00 target price (up previously from $450.00) on shares of LPL Financial in a research note on Tuesday, July 15th. Ten research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $391.54.

LPL Financial Stock Up 0.4%

LPL Financial stock opened at $336.99 on Tuesday. The business has a fifty day moving average of $362.75 and a two-hundred day moving average of $353.50. The company has a quick ratio of 3.22, a current ratio of 3.22 and a debt-to-equity ratio of 1.41. The firm has a market cap of $26.96 billion, a P/E ratio of 23.05, a P/E/G ratio of 0.78 and a beta of 0.66. LPL Financial Holdings Inc. has a twelve month low of $216.65 and a twelve month high of $403.58.

LPL Financial (NASDAQ:LPLA - Get Free Report) last posted its earnings results on Thursday, July 31st. The financial services provider reported $4.51 earnings per share for the quarter, topping analysts' consensus estimates of $4.21 by $0.30. The company had revenue of $3.84 billion during the quarter, compared to analyst estimates of $3.77 billion. LPL Financial had a return on equity of 39.80% and a net margin of 7.91%.LPL Financial's revenue was up 30.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $3.88 earnings per share. On average, analysts forecast that LPL Financial Holdings Inc. will post 19.35 earnings per share for the current fiscal year.

LPL Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 29th. Stockholders of record on Friday, August 15th were given a dividend of $0.30 per share. The ex-dividend date of this dividend was Friday, August 15th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.4%. LPL Financial's dividend payout ratio is presently 8.21%.

Insiders Place Their Bets

In other news, Director Greg Gates sold 1,500 shares of the company's stock in a transaction on Tuesday, August 5th. The stock was sold at an average price of $374.05, for a total transaction of $561,075.00. Following the transaction, the director directly owned 19,120 shares of the company's stock, valued at approximately $7,151,836. This represents a 7.27% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Aneri Jambusaria sold 80 shares of the company's stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $361.25, for a total value of $28,900.00. Following the transaction, the director directly owned 5,582 shares in the company, valued at approximately $2,016,497.50. The trade was a 1.41% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 4,580 shares of company stock worth $1,671,235. Insiders own 0.70% of the company's stock.

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.

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