Tobam acquires 14,307 shares of LPL Financial Holdings Inc. (NASDAQ:LPLA)

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Tobam lifted its position in LPL Financial Holdings Inc. (NASDAQ:LPLA – Free Report) by 51.5% during the 3rd quarter, Holdings Channel reports. The firm owned 42,074 shares of the financial services provider’s stock after buying an additional 14,307 shares during the quarter. LPL Financial makes up 1.8% of Tobam’s investment portfolio, making the stock its 17th biggest holding. Tobam’s holdings in LPL Financial were worth $9,788,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the company. Ashton Thomas Private Wealth LLC purchased a new position in LPL Financial during the 2nd quarter valued at about $25,000. Key Financial Inc acquired a new stake in shares of LPL Financial in the second quarter valued at approximately $28,000. Riverview Trust Co bought a new stake in LPL Financial in the 1st quarter worth approximately $30,000. Crewe Advisors LLC raised its stake in LPL Financial by 360.7% in the 2nd quarter. Crewe Advisors LLC now owns 129 shares of the financial services provider’s stock worth $36,000 after buying an additional 101 shares in the the last quarter. Finally, Tortoise Investment Management LLC raised its stake in LPL Financial by 74.7% in the second quarter. Tortoise Investment Management LLC now owns 131 shares of the financial services provider’s stock worth $37,000 after acquiring an additional 56 shares in the last quarter. Institutional investors own 95.66% of the company’s shares.

Performance of LPL financial shares

Shares of LPL Financial traded down $0.39 during trading on Thursday, reaching $245.44. The company’s stock had a trading volume of 353,391 shares, compared to its average volume of 731,456. The company’s 50-day moving average price is $218.03 and its 200-day moving average price is $248.74. The firm has a market cap of $18.34 billion, a PE ratio of 18.57, a P/E/G ratio of 1.27 and a beta of 0.88. LPL Financial Holdings Inc. it has a 52-week low of $187.19 and a 52-week high of $289.88. The company has a quick ratio of 2.16, a current ratio of 2.16, and a debt-to-equity ratio of 1.77.

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LPL Financial (NASDAQ:LPLA – Get Your Free Report ) last issued its quarterly earnings data on Thursday, July 25th. The financial services provider reported $3.88 earnings per share for the quarter, topping the consensus estimate of $3.66 by $0.22. LPL Financial had a net margin of 8.91% and a return on equity of 52.14%. The business had revenue of $2.93 billion during the quarter, compared to analysts’ expectations of $2.89 billion. In the same quarter last year, the company posted earnings of $3.94 per share. LPL Financial’s revenue was up 18.8% compared to the same quarter last year. Equities analysts estimate that LPL Financial Holdings Inc. will post 15.88 earnings per share for the current year.

LPL Financial announces dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 23rd. Investors of record on Friday, August 9th were given a dividend of $0.30 per share. The ex-dividend date of this dividend was Friday, August 9. This represents an annualized dividend of $1.20 and a yield of 0.49%. LPL Financial’s dividend payout ratio is 9.06%.

Analysts on Wall Street are forecasting an increase

Several research firms recently weighed in on LPLA. JMP Securities reissued a “market outperform” rating and issued a $310.00 target price on shares of LPL Financial in a research note on Wednesday. Jefferies Financial Group cut their price objective on shares of LPL Financial from $309.00 to $282.00 and set a “buy” rating for the company in a research report on Friday, October 4th. Keefe, Bruyette & Woods lowered their price objective on shares of LPL Financial from $326.00 to $315.00 and set an “outperform” rating for the company in a research report on Friday, July 26th. StockNews.com lowered shares of LPL Financial from a “hold” rating to a “sell” rating in a research report on Tuesday, October 1st. Finally, Goldman Sachs Group decreased their price objective on shares of LPL Financial from $289.00 to $271.00 and set a “buy” rating for the company in a research report on Thursday. September 26. Two analysts have rated the stock with a sell rating, four have given a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $278.23.

See the latest stock report on LPLA

LPL Financial Company Profile

(Free report)

LPL Financial Holdings Inc, together with its subsidiaries, provides an integrated platform of brokerage and investment advisory services to independent financial advisors and corporate financial advisors in the United States. Its brokerage offerings include variable and fixed annuities, mutual funds, stocks, fixed income, alternative investments, retirement plans, and 529 education and insurance savings.