Tidal Investments LLC Purchases 3,809 Shares of LPL Financial Holdings Inc. (NASDAQ:LPLA)

Tidal Investments LLC increased its position in LPL Financial Holdings Inc. (NASDAQ:LPLA - Free Report) by 98.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 7,662 shares of the financial services provider's stock after buying an additional 3,809 shares during the quarter. Tidal Investments LLC's holdings in LPL Financial were worth $1,782,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. FMR LLC raised its holdings in shares of LPL Financial by 24.4% in the 3rd quarter. FMR LLC now owns 3,322,571 shares of the financial services provider's stock worth $772,930,000 after purchasing an additional 650,675 shares during the period. Kayne Anderson Rudnick Investment Management LLC raised its holdings in LPL Financial by 9.9% in the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 2,589,793 shares of the financial services provider's stock valued at $723,329,000 after buying an additional 233,242 shares during the period. Geode Capital Management LLC lifted its position in LPL Financial by 2.6% during the third quarter. Geode Capital Management LLC now owns 1,436,831 shares of the financial services provider's stock valued at $333,581,000 after buying an additional 36,474 shares in the last quarter. Samlyn Capital LLC grew its stake in LPL Financial by 8.0% during the second quarter. Samlyn Capital LLC now owns 1,194,715 shares of the financial services provider's stock worth $333,684,000 after buying an additional 88,635 shares during the period. Finally, Massachusetts Financial Services Co. MA grew its stake in LPL Financial by 11.3% during the second quarter. Massachusetts Financial Services Co. MA now owns 884,630 shares of the financial services provider's stock worth $247,077,000 after buying an additional 90,020 shares during the period. Institutional investors and hedge funds own 95.66% of the company's stock.

Insider Buying and Selling

In related news, Director Aneri Jambusaria sold 305 shares of the business's stock in a transaction dated Thursday, December 5th. The stock was sold at an average price of $331.94, for a total transaction of $101,241.70. Following the completion of the transaction, the director now owns 3,920 shares of the company's stock, valued at approximately $1,301,204.80. The trade was a 7.22 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.30% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities analysts recently weighed in on LPLA shares. StockNews.com upgraded shares of LPL Financial from a "sell" rating to a "hold" rating in a report on Saturday, November 9th. The Goldman Sachs Group upped their target price on LPL Financial from $271.00 to $305.00 and gave the stock a "buy" rating in a research report on Friday, November 1st. Wells Fargo & Company boosted their price target on LPL Financial from $310.00 to $390.00 and gave the stock an "overweight" rating in a research report on Thursday, December 12th. Barclays upped their price objective on shares of LPL Financial from $311.00 to $378.00 and gave the company an "overweight" rating in a research report on Monday, December 9th. Finally, JMP Securities reaffirmed a "market outperform" rating and set a $310.00 target price on shares of LPL Financial in a research report on Wednesday, October 9th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have issued a buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $305.17.

LPL Financial Stock Down 2.2 %

NASDAQ LPLA traded down $7.34 on Wednesday, reaching $322.06. The stock had a trading volume of 643,296 shares, compared to its average volume of 717,129. The company has a market capitalization of $24.12 billion, a price-to-earnings ratio of 24.22, a P/E/G ratio of 1.61 and a beta of 0.86. The company has a current ratio of 2.16, a quick ratio of 2.16 and a debt-to-equity ratio of 1.60. LPL Financial Holdings Inc. has a 1 year low of $187.19 and a 1 year high of $334.38. The business has a 50 day moving average price of $297.42 and a 200 day moving average price of $259.31.

LPL Financial (NASDAQ:LPLA - Get Free Report) last issued its quarterly earnings data on Wednesday, October 30th. The financial services provider reported $4.16 earnings per share (EPS) 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 firm had revenue of $3.11 billion during the quarter, compared to analysts' expectations of $3.04 billion. During the same period in the prior year, the company posted $3.74 earnings per share. LPL Financial's revenue for the quarter was up 6.0% on a year-over-year basis. On average, analysts forecast that LPL Financial Holdings Inc. will post 16.1 EPS for the current fiscal year.

LPL Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Stockholders 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 payout ratio is 9.02%.

LPL Financial 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.