WCM Investment Management LLC Sells 6,261 Shares of LPL Financial Holdings Inc. (NASDAQ:LPLA)

WCM Investment Management LLC cut its stake in LPL Financial Holdings Inc. (NASDAQ:LPLA - Free Report) by 0.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,635,354 shares of the financial services provider's stock after selling 6,261 shares during the period. LPL Financial accounts for 1.4% of WCM Investment Management LLC's investment portfolio, making the stock its 29th largest holding. WCM Investment Management LLC owned about 2.06% of LPL Financial worth $550,934,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also added to or reduced their stakes in the company. Anchor Investment Management LLC boosted its position in shares of LPL Financial by 0.3% during the 4th quarter. Anchor Investment Management LLC now owns 9,697 shares of the financial services provider's stock valued at $3,166,000 after purchasing an additional 28 shares in the last quarter. Colonial Trust Co SC lifted its stake in LPL Financial by 6.1% in the fourth quarter. Colonial Trust Co SC now owns 505 shares of the financial services provider's stock valued at $165,000 after buying an additional 29 shares during the period. United Capital Financial Advisors LLC boosted its holdings in shares of LPL Financial by 2.6% during the 4th quarter. United Capital Financial Advisors LLC now owns 1,203 shares of the financial services provider's stock worth $393,000 after buying an additional 31 shares in the last quarter. Tyler Stone Wealth Management grew its position in shares of LPL Financial by 3.7% during the 4th quarter. Tyler Stone Wealth Management now owns 1,076 shares of the financial services provider's stock worth $351,000 after buying an additional 38 shares during the period. Finally, Koshinski Asset Management Inc. increased its stake in shares of LPL Financial by 4.9% in the 1st quarter. Koshinski Asset Management Inc. now owns 812 shares of the financial services provider's stock valued at $266,000 after acquiring an additional 38 shares in the last quarter. 95.66% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on LPLA shares. Morgan Stanley increased their price target on LPL Financial from $330.00 to $450.00 and gave the stock an "overweight" rating in a report on Wednesday, May 21st. JMP Securities lifted their price target on shares of LPL Financial from $420.00 to $440.00 and gave the company a "market outperform" rating in a research report on Friday, May 9th. Citigroup lowered 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 note on Monday, June 9th. Redburn Atlantic raised shares of LPL Financial from a "neutral" rating to a "buy" rating and raised their price objective for the company from $420.00 to $460.00 in a research note on Monday, June 9th. Finally, Wells Fargo & Company reduced their price objective on shares of LPL Financial from $405.00 to $342.00 and set an "overweight" rating for the company in a report on Tuesday, April 8th. Two equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $387.69.

LPL Financial Stock Performance

LPLA stock traded up $7.80 on Friday, hitting $384.27. The company had a trading volume of 348,551 shares, compared to its average volume of 851,480. The stock has a market cap of $30.73 billion, a price-to-earnings ratio of 26.59, a P/E/G ratio of 1.05 and a beta of 0.64. The company has a current ratio of 2.31, a quick ratio of 2.31 and a debt-to-equity ratio of 1.82. The stock's 50-day simple moving average is $368.80 and its 200 day simple moving average is $348.28. 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 quarterly 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 analysts' expectations of $3.63 billion. LPL Financial had a net margin of 8.23% and a return on equity of 46.34%. The company's revenue was up 4.5% compared to the same quarter last year. During the same quarter last year, the company posted $3.83 EPS. As a group, equities research analysts expect 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 announced a quarterly dividend, which was paid on Thursday, June 12th. Investors of record on Friday, May 30th were given a dividend of $0.30 per share. The ex-dividend date of this dividend was Friday, May 30th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.31%. LPL Financial's dividend payout ratio is 8.30%.

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.