Gerber Kawasaki Wealth & Investment Management Sells 14,690 Shares of LPL Financial Holdings Inc. (NASDAQ:LPLA)

Gerber Kawasaki Wealth & Investment Management reduced its stake in LPL Financial Holdings Inc. (NASDAQ:LPLA - Free Report) by 68.1% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 6,884 shares of the financial services provider's stock after selling 14,690 shares during the quarter. Gerber Kawasaki Wealth & Investment Management's holdings in LPL Financial were worth $2,248,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Susquehanna Fundamental Investments LLC bought a new stake in shares of LPL Financial during the 4th quarter worth $24,389,000. DE Burlo Group Inc. acquired a new position in LPL Financial during the 4th quarter worth $327,000. Two Sigma Securities LLC boosted its holdings in LPL Financial by 37.5% during the fourth quarter. Two Sigma Securities LLC now owns 993 shares of the financial services provider's stock valued at $324,000 after acquiring an additional 271 shares during the period. Adage Capital Partners GP L.L.C. acquired a new stake in shares of LPL Financial in the fourth quarter valued at about $9,795,000. Finally, Pinebridge Investments L.P. bought a new position in shares of LPL Financial in the fourth quarter worth about $7,004,000. Institutional investors own 95.66% of the company's stock.

Analyst Upgrades and Downgrades

LPLA has been the topic of a number of research analyst reports. Wells Fargo & Company lowered their target price on LPL Financial from $405.00 to $342.00 and set an "overweight" rating on the stock in a report on Tuesday, April 8th. StockNews.com downgraded shares of LPL Financial from a "hold" rating to a "sell" rating in a research note on Wednesday, March 26th. Morgan Stanley upped their target price on shares of LPL Financial from $379.00 to $413.00 and gave the company an "overweight" rating in a research note on Thursday, February 6th. JPMorgan Chase & Co. raised their price target on shares of LPL Financial from $397.00 to $405.00 and gave the stock an "overweight" rating in a research report on Friday, January 31st. Finally, UBS Group upped their price objective on shares of LPL Financial from $390.00 to $420.00 and gave the company a "buy" rating in a research report on Friday, January 31st. One equities research analyst has rated the stock with a sell rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, LPL Financial presently has an average rating of "Moderate Buy" and an average price target of $369.83.

LPL Financial Stock Performance

NASDAQ:LPLA opened at $314.54 on Friday. The company has a quick ratio of 2.16, a current ratio of 2.16 and a debt-to-equity ratio of 1.60. The firm has a 50-day moving average price of $327.56 and a 200 day moving average price of $324.02. The firm has a market capitalization of $24.96 billion, a PE ratio of 22.40, a price-to-earnings-growth ratio of 0.94 and a beta of 0.64. LPL Financial Holdings Inc. has a 12-month low of $187.19 and a 12-month high of $384.04.

LPL Financial (NASDAQ:LPLA - Get Free Report) last issued its earnings results on Thursday, January 30th. The financial services provider reported $4.25 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $4.01 by $0.24. LPL Financial had a return on equity of 49.41% and a net margin of 8.55%. Research 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 announced a quarterly dividend, which was paid on Tuesday, March 25th. Stockholders of record on Tuesday, March 11th were paid a $0.30 dividend. The ex-dividend date of this dividend was Tuesday, March 11th. This represents a $1.20 annualized dividend and a dividend yield of 0.38%. LPL Financial's dividend payout ratio is presently 8.55%.

Insider Transactions at LPL Financial

In other LPL Financial news, Director Marc Eliot Cohen sold 1,100 shares of LPL Financial stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $365.85, for a total value of $402,435.00. Following the completion of the transaction, the director now owns 4,075 shares in the company, valued at approximately $1,490,838.75. The trade was a 21.26 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Matthew J. Audette sold 4,588 shares of the stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $360.07, for a total value of $1,652,001.16. Following the sale, the chief financial officer now owns 16,538 shares in the company, valued at $5,954,837.66. The trade was a 21.72 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 34,465 shares of company stock valued at $12,562,070. 1.30% of the stock is 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.

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