Eagle Bay Advisors LLC Sells 73 Shares of LPL Financial Holdings Inc. (NASDAQ:LPLA)

Eagle Bay Advisors LLC decreased its stake in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA) by 10.7% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 611 shares of the financial services provider’s stock after selling 73 shares during the quarter. Eagle Bay Advisors LLC’s holdings in LPL Financial were worth $200,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in LPLA. Ashton Thomas Private Wealth LLC bought a new position in shares of LPL Financial during the 2nd quarter worth about $25,000. Ashton Thomas Securities LLC bought a new position in shares of LPL Financial during the 3rd quarter worth about $31,000. Paladin Wealth LLC acquired a new stake in shares of LPL Financial during the 3rd quarter valued at about $34,000. Brooklyn Investment Group acquired a new stake in shares of LPL Financial during the 3rd quarter valued at about $43,000. Finally, First Horizon Advisors Inc. boosted its position in shares of LPL Financial by 32.3% during the 3rd quarter. First Horizon Advisors Inc. now owns 385 shares of the financial services provider’s stock valued at $90,000 after acquiring an additional 94 shares in the last quarter. Institutional investors own 95.66% of the company’s stock.

LPL Financial Price Performance

Shares of NASDAQ LPLA traded down $2.60 during trading on Monday, reaching $327.81. The company had a trading volume of 115,000 shares, compared to its average volume of 493,146. LPL Financial Holdings Inc. has a 52 week low of $187.19 and a 52 week high of $344.86. The stock has a market cap of $24.55 billion, a PE ratio of 24.65, a PEG ratio of 1.60 and a beta of 0.87. The company has a debt-to-equity ratio of 1.60, a quick ratio of 2.16 and a current ratio of 2.16. The business’s 50 day moving average price is $323.22 and its 200-day moving average price is $265.66.

LPL Financial (NASDAQ:LPLA) last announced its earnings results on Wednesday, October 30th. The financial services provider reported $4.16 earnings per share for the quarter, topping analysts’ consensus estimates of $3.69 by $0.47. LPL Financial had a net margin of 8.73% and a return on equity of 49.47%. The company had revenue of $3.11 billion during the quarter, compared to the consensus estimate of $3.04 billion. During the same period in the previous year, the firm posted $3.74 earnings per share. The company’s revenue was up 6.0% on a year-over-year basis. Analysts expect that LPL Financial Holdings Inc. will post 16.1 earnings per share for the current year.

LPL Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Thursday, November 14th were paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.37%. The ex-dividend date was Thursday, November 14th. LPL Financial’s dividend payout ratio is presently 9.02%.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. TD Cowen upgraded shares of LPL Financial from a “hold” rating to a “buy” rating and lifted their target price for the company from $277.00 to $413.00 in a research report on Thursday, December 19th. Keefe, Bruyette & Woods lifted their target price on shares of LPL Financial from $325.00 to $390.00 and gave the company an “outperform” rating in a research report on Friday, December 20th. StockNews.com upgraded shares of LPL Financial from a “sell” rating to a “hold” rating in a research report on Saturday, November 9th. JPMorgan Chase & Co. upgraded shares of LPL Financial from a “neutral” rating to an “overweight” rating and lifted their target price for the company from $288.00 to $397.00 in a research report on Tuesday, January 7th. Finally, Morgan Stanley lifted their target price on shares of LPL Financial from $303.00 to $309.00 and gave the company an “overweight” rating in a research report on Thursday, October 17th. One analyst has rated the stock with a sell rating, one has given a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $351.50.

Insider Buying and Selling

In related news, Director Aneri Jambusaria sold 305 shares of the business’s stock in a transaction that occurred on Thursday, December 5th. The shares were sold at an average price of $331.94, for a total transaction of $101,241.70. Following the completion of the sale, the director now directly owns 3,920 shares of the company’s stock, valued at $1,301,204.80. The trade was a 7.22 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. 1.30% of the stock is currently owned by insiders.

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.