LPL Financial (NASDAQ:LPLA) Stock Acquired Sen. Markwayne Mullin

Senator Markwayne Mullin (R-Oklahoma) recently bought shares of LPL Financial Holdings Inc. NASDAQ: LPLA. In a filing disclosed on June 11th, the Senator disclosed that they had bought between $15,001 and $50,000 in LPL Financial stock on May 13th.

Senator Markwayne Mullin also recently made the following trade(s):

• Purchased $50,001 - $100,000 in shares of Valero Energy NYSE: VLO on 5/13/2025.
• Purchased $50,001 - $100,000 in shares of Chevron NYSE: CVX on 5/13/2025.
• Purchased $50,001 - $100,000 in shares of Zoetis NYSE: ZTS on 5/13/2025.
• Purchased $15,001 - $50,000 in shares of L3Harris Technologies NYSE: LHX on 5/13/2025.
• Purchased $15,001 - $50,000 in shares of Adobe NASDAQ: ADBE on 5/13/2025.
• Purchased $15,001 - $50,000 in shares of CSX NASDAQ: CSX on 5/13/2025.
• Purchased $15,001 - $50,000 in shares of Texas Instruments NASDAQ: TXN on 5/13/2025.
• Purchased $15,001 - $50,000 in shares of ConocoPhillips NYSE: COP on 5/13/2025.
• Purchased $15,001 - $50,000 in shares of Applied Materials NASDAQ: AMAT on 5/13/2025.
• Sold $500,001 - $1,000,000 in shares of SPDR S&P 500 ETF Trust NYSEARCA: SPY on 5/13/2025.

LPL Financial Stock Up 1.3%

Shares of NASDAQ:LPLA traded up $4.84 during trading on Friday, reaching $381.63. 106,368 shares of the company traded hands, compared to its average volume of 797,217. The firm has a fifty day simple moving average of $377.76 and a 200 day simple moving average of $352.67. The firm has a market cap of $30.52 billion, a P/E ratio of 26.41, a price-to-earnings-growth ratio of 0.93 and a beta of 0.64. LPL Financial Holdings Inc. has a 1-year low of $187.19 and a 1-year high of $396.25. The company has a quick ratio of 2.31, a current ratio of 2.31 and a debt-to-equity ratio of 1.82.

LPL Financial (NASDAQ:LPLA - Get Free Report) last released its quarterly earnings results on Thursday, May 8th. The financial services provider reported $5.15 earnings per share for the quarter, beating analysts' consensus estimates of $4.54 by $0.61. The business had revenue of $3.67 billion for the quarter, compared to the consensus estimate of $3.63 billion. LPL Financial had a net margin of 8.23% and a return on equity of 46.34%. LPL Financial's revenue for the quarter was up 4.5% on a year-over-year basis. During the same quarter last year, the firm earned $3.83 EPS. Analysts anticipate that LPL Financial Holdings Inc. will post 19.35 earnings per share for the current fiscal year.

LPL Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 12th. Investors of record on Friday, May 30th were paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 0.31%. The ex-dividend date of this dividend was Friday, May 30th. LPL Financial's dividend payout ratio is 8.30%.

Insider Activity at LPL Financial

In related news, Director Greg Gates sold 1,500 shares of the stock in a transaction dated Thursday, July 3rd. The shares were sold at an average price of $382.63, for a total transaction of $573,945.00. Following the completion of the transaction, the director owned 20,620 shares in the company, valued at approximately $7,889,830.60. This represents a 6.78% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 1.30% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on LPLA shares. TD Cowen downgraded shares of LPL Financial from a "strong-buy" rating to a "hold" rating and dropped their price objective for the stock from $406.00 to $403.00 in a report on Wednesday, July 9th. Citigroup downgraded shares of LPL Financial from a "neutral" rating to a "sell" rating and set a $80.00 price objective on the stock. in a report on Wednesday, July 9th. Morgan Stanley restated an "overweight" rating and set a $490.00 price objective (up previously from $450.00) on shares of LPL Financial in a report on Tuesday, July 15th. Wall Street Zen lowered shares of LPL Financial from a "buy" rating to a "hold" rating in a research report on Saturday, June 14th. Finally, JMP Securities lifted their target price 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. One analyst has rated the stock with a sell rating, two have assigned a hold rating and eleven have given a buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $372.15.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Dodge & Cox raised its holdings in LPL Financial by 224.1% during the first quarter. Dodge & Cox now owns 1,523,460 shares of the financial services provider's stock worth $498,385,000 after buying an additional 1,053,351 shares during the last quarter. Principal Financial Group Inc. raised its holdings in LPL Financial by 1,453.3% during the first quarter. Principal Financial Group Inc. now owns 1,038,683 shares of the financial services provider's stock worth $339,795,000 after buying an additional 971,814 shares during the last quarter. Norges Bank acquired a new position in LPL Financial during the fourth quarter worth $305,747,000. Raymond James Financial Inc. acquired a new position in LPL Financial during the fourth quarter worth $295,982,000. Finally, Jennison Associates LLC raised its holdings in shares of LPL Financial by 786.2% in the first quarter. Jennison Associates LLC now owns 959,371 shares of the financial services provider's stock valued at $313,849,000 after purchasing an additional 851,115 shares during the last quarter. Institutional investors and hedge funds own 95.66% of the company's stock.

About Senator Mullin

Markwayne Mullin (Republican Party) is a member of the U.S. Senate from Oklahoma. He assumed office on January 11, 2023. His current term ends on January 3, 2027. Mullin (Republican Party) ran in a special election to the U.S. Senate to represent Oklahoma. He won in the special general election on November 8, 2022. Mullin is a member of the Cherokee Nation and one of four Native American members of the 116th Congress. At the age of 20, Mullin took over his father's plumbing business. He is also a former professional mixed martial artist. Markwayne Mullin graduated from Stilwell High School. Mullin earned an associate degree in construction technology from Oklahoma State University Institute of Technology. His career experience includes owning and founding multiple businesses.

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.