Shelton Wealth Management LLC Takes $1.09 Million Position in LPL Financial Holdings Inc. (NASDAQ:LPLA)

Shelton Wealth Management LLC bought a new position in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 3,322 shares of the financial services provider's stock, valued at approximately $1,085,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in LPLA. Ashton Thomas Securities LLC purchased a new position in shares of LPL Financial in the 3rd quarter valued at about $31,000. Paladin Wealth LLC acquired a new position in LPL Financial during the 3rd quarter worth approximately $34,000. Brooklyn Investment Group purchased a new stake in shares of LPL Financial in the 3rd quarter valued at approximately $43,000. First Horizon Advisors Inc. raised its holdings in shares of LPL Financial by 32.3% in the 3rd quarter. First Horizon Advisors Inc. now owns 385 shares of the financial services provider's stock valued at $90,000 after purchasing an additional 94 shares in the last quarter. Finally, Quarry LP lifted its position in shares of LPL Financial by 45.3% during the 2nd quarter. Quarry LP now owns 327 shares of the financial services provider's stock worth $91,000 after purchasing an additional 102 shares during the last quarter. Hedge funds and other institutional investors own 95.66% of the company's stock.

Insider Buying and Selling at LPL Financial

In other LPL Financial news, Director Aneri Jambusaria sold 305 shares of the firm'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 transaction, the director now directly owns 3,920 shares in the company, valued at $1,301,204.80. This trade represents a 7.22 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 1.30% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on LPLA shares. TD Cowen raised LPL Financial from a "hold" rating to a "buy" rating and lifted their price target for the stock from $277.00 to $413.00 in a report on Thursday, December 19th. Barclays raised their price objective on shares of LPL Financial from $378.00 to $379.00 and gave the stock an "overweight" rating in a report on Monday, January 13th. The Goldman Sachs Group increased their target price on shares of LPL Financial from $271.00 to $305.00 and gave the company a "buy" rating in a research report on Friday, November 1st. UBS Group upgraded LPL Financial from a "neutral" rating to a "buy" rating and set a $390.00 target price on the stock in a research report on Monday, January 6th. Finally, Wells Fargo & Company upped their target price on LPL Financial from $310.00 to $390.00 and gave the company an "overweight" rating in a research report on Thursday, December 12th. One research analyst has rated the stock with a sell rating, one has given a hold rating and twelve have given a buy rating to the company's stock. Based on data from MarketBeat.com, LPL Financial currently has a consensus rating of "Moderate Buy" and an average price target of $351.50.

LPL Financial Stock Performance

NASDAQ LPLA traded up $2.72 on Friday, hitting $348.93. The stock had a trading volume of 445,040 shares, compared to its average volume of 390,708. The company's 50-day moving average is $327.62 and its two-hundred day moving average is $267.83. LPL Financial Holdings Inc. has a one year low of $187.19 and a one year high of $350.38. The stock has a market cap of $26.13 billion, a price-to-earnings ratio of 26.24, a P/E/G ratio of 1.03 and a beta of 0.87. The company has a quick ratio of 2.16, a current ratio of 2.16 and a debt-to-equity ratio of 1.60.

LPL Financial (NASDAQ:LPLA - Get Free Report) last posted its quarterly earnings data on Wednesday, October 30th. The financial services provider reported $4.16 earnings per share for the quarter, topping the consensus estimate of $3.69 by $0.47. The business had revenue of $3.11 billion during the quarter, compared to the consensus estimate of $3.04 billion. LPL Financial had a net margin of 8.73% and a return on equity of 49.47%. The company's quarterly revenue was up 6.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $3.74 earnings per share. On average, analysts expect that LPL Financial Holdings Inc. will post 16.07 earnings per share for the current year.

LPL Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Thursday, November 14th were given a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 0.34%. The ex-dividend date was Thursday, November 14th. LPL Financial's dividend payout ratio (DPR) is currently 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.