Oak Thistle LLC Boosts Stake in LPL Financial Holdings Inc. (NASDAQ:LPLA)

Oak Thistle LLC increased its holdings in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA - Free Report) by 122.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,991 shares of the financial services provider's stock after acquiring an additional 1,094 shares during the quarter. Oak Thistle LLC's holdings in LPL Financial were worth $650,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Ashton Thomas Private Wealth LLC purchased a new position in LPL Financial in the second quarter valued at approximately $25,000. Federated Hermes Inc. lifted its position in shares of LPL Financial by 23.8% during the 2nd quarter. Federated Hermes Inc. now owns 13,585 shares of the financial services provider's stock valued at $3,794,000 after buying an additional 2,616 shares during the last quarter. Oppenheimer Asset Management Inc. grew its stake in shares of LPL Financial by 5.3% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 2,935 shares of the financial services provider's stock worth $820,000 after acquiring an additional 148 shares during the period. Envestnet Asset Management Inc. increased its holdings in LPL Financial by 0.5% in the 2nd quarter. Envestnet Asset Management Inc. now owns 328,963 shares of the financial services provider's stock worth $91,879,000 after acquiring an additional 1,611 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA raised its stake in LPL Financial by 11.3% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 884,630 shares of the financial services provider's stock valued at $247,077,000 after acquiring an additional 90,020 shares during the period. Hedge funds and other institutional investors own 95.66% of the company's stock.

LPL Financial Stock Performance

LPLA traded up $7.96 during midday trading on Thursday, hitting $346.21. 559,693 shares of the company traded hands, compared to its average volume of 529,156. The company's 50-day moving average is $326.06 and its 200 day moving average is $266.91. 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 market capitalization of $25.92 billion, a PE ratio of 26.03, a price-to-earnings-growth ratio of 1.03 and a beta of 0.87. LPL Financial Holdings Inc. has a 52 week low of $187.19 and a 52 week high of $347.74.

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 for the quarter, beating 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 for the quarter, compared to the consensus estimate of $3.04 billion. During the same quarter in the prior year, the firm earned $3.74 earnings per share. The firm's revenue for the quarter was up 6.0% compared to the same quarter last year. On average, research analysts expect that LPL Financial Holdings Inc. will post 16.07 EPS for the current year.

LPL Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Thursday, November 14th were issued a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 0.35%. The ex-dividend date of this dividend was Thursday, November 14th. LPL Financial's payout ratio is currently 9.02%.

Analyst Ratings Changes

LPLA has been the subject of a number of research reports. 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 price objective for the company from $288.00 to $397.00 in a research note on Tuesday, January 7th. Barclays boosted their target price on shares of LPL Financial from $378.00 to $379.00 and gave the company an "overweight" rating in a report on Monday. Morgan Stanley raised their price objective 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. Finally, Citigroup upped their target price on shares of LPL Financial from $310.00 to $385.00 and gave the stock a "buy" rating in a report on Friday, January 10th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $351.50.

Insider Activity at LPL Financial

In other LPL Financial 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 sale, the director now directly owns 3,920 shares in the company, valued at $1,301,204.80. The trade was a 7.22 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.00% of the stock is owned by company insiders.

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.