Horizon Wealth Management LLC Takes $203,000 Position in LPL Financial Holdings Inc. (NASDAQ:LPLA)

Horizon Wealth Management LLC bought a new stake in LPL Financial Holdings Inc. (NASDAQ:LPLA) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 621 shares of the financial services provider’s stock, valued at approximately $203,000.

Several other institutional investors also recently bought and sold shares of LPLA. Ashton Thomas Private Wealth LLC bought a new stake in LPL Financial in the second quarter valued at approximately $25,000. Ashton Thomas Securities LLC purchased a new stake in LPL Financial during the 3rd quarter valued at $31,000. Paladin Wealth LLC bought a new stake in LPL Financial in the 3rd quarter worth $34,000. Brooklyn Investment Group purchased a new position in shares of LPL Financial in the third quarter valued at about $43,000. Finally, First Horizon Advisors Inc. raised its stake in shares of LPL Financial by 32.3% during the third 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 during the last quarter. 95.66% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at LPL Financial

In other LPL Financial news, Director Aneri Jambusaria sold 305 shares of the stock in a transaction on Thursday, December 5th. The stock was sold at an average price of $331.94, for a total transaction of $101,241.70. Following the sale, the director now directly owns 3,920 shares in the company, valued at approximately $1,301,204.80. This trade represents a 7.22 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 1.30% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research firms recently issued reports on LPLA. Wells Fargo & Company raised their target price on LPL Financial from $310.00 to $390.00 and gave the stock an “overweight” rating in a research note on Thursday, December 12th. Citigroup upped their target price on LPL Financial from $310.00 to $385.00 and gave the company a “buy” rating in a report on Friday. StockNews.com upgraded shares of LPL Financial from a “sell” rating to a “hold” rating in a report on Saturday, November 9th. Keefe, Bruyette & Woods upped their price objective on shares of LPL Financial from $325.00 to $390.00 and gave the stock an “outperform” rating in a report on Friday, December 20th. Finally, Barclays lifted their target price on shares of LPL Financial from $378.00 to $379.00 and gave the company an “overweight” rating in a research note on Monday. 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. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $351.50.

LPL Financial Stock Down 1.0 %

Shares of LPL Financial stock traded down $3.29 during midday trading on Monday, hitting $327.12. The company had a trading volume of 392,864 shares, compared to its average volume of 534,087. LPL Financial Holdings Inc. has a 52-week low of $187.19 and a 52-week high of $344.86. 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 stock has a market capitalization of $24.49 billion, a P/E ratio of 24.60, a P/E/G ratio of 1.60 and a beta of 0.87. The company has a 50 day moving average of $323.22 and a 200 day moving average of $265.66.

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

LPL Financial Announces Dividend

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

LPL Financial Company 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.