Tobam Has $6.57 Million Stake in LPL Financial Holdings Inc. (NASDAQ:LPLA)

Tobam decreased its stake in LPL Financial Holdings Inc. (NASDAQ:LPLA) by 52.1% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 20,133 shares of the financial services provider’s stock after selling 21,941 shares during the period. LPL Financial accounts for about 2.1% of Tobam’s holdings, making the stock its 10th biggest position. Tobam’s holdings in LPL Financial were worth $6,574,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Ashton Thomas Securities LLC purchased a new stake in LPL Financial during the third quarter valued at about $31,000. Paladin Wealth LLC bought a new position in LPL Financial in the 3rd quarter worth approximately $34,000. Brooklyn Investment Group purchased a new position in LPL Financial in the 3rd quarter valued at approximately $43,000. R Squared Ltd bought a new stake in LPL Financial during the 4th quarter valued at $78,000. Finally, First Horizon Advisors Inc. lifted its position 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 worth $90,000 after acquiring an additional 94 shares in the last quarter. 95.66% of the stock is owned by institutional investors.

LPL Financial Trading Up 1.2 %

NASDAQ LPLA opened at $371.05 on Friday. The stock’s 50-day simple moving average is $338.85 and its two-hundred day simple moving average is $277.76. LPL Financial Holdings Inc. has a twelve month low of $187.19 and a twelve month high of $375.74. 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 company has a market capitalization of $27.78 billion, a price-to-earnings ratio of 26.43, a PEG ratio of 1.13 and a beta of 0.87.

LPL Financial (NASDAQ:LPLA) last released its earnings results on Thursday, January 30th. The financial services provider reported $4.25 earnings per share 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 forecast that LPL Financial Holdings Inc. will post 19.4 EPS for the current fiscal year.

LPL Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 25th. Investors of record on Tuesday, March 11th will be given a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 0.32%. The ex-dividend date is Tuesday, March 11th. LPL Financial’s payout ratio is presently 8.55%.

Insiders Place Their Bets

In other LPL Financial news, Director Aneri Jambusaria sold 305 shares of LPL Financial stock in a transaction that occurred on Thursday, December 5th. The stock was sold at an average price of $331.94, for a total value of $101,241.70. Following the transaction, the director now directly owns 3,920 shares of the company’s stock, valued at $1,301,204.80. The trade was a 7.22 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.00% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

LPLA has been the topic of a number of analyst reports. Wells Fargo & Company boosted their price objective on LPL Financial from $390.00 to $405.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. The Goldman Sachs Group upped their price target on LPL Financial from $271.00 to $305.00 and gave the company a “buy” rating in a research report on Friday, November 1st. StockNews.com upgraded shares of LPL Financial from a “sell” rating to a “hold” rating in a research report on Saturday, November 9th. Morgan Stanley upped their target price on shares of LPL Financial from $379.00 to $413.00 and gave the stock an “overweight” rating in a report on Thursday. Finally, JPMorgan Chase & Co. raised their price target on shares of LPL Financial from $397.00 to $405.00 and gave the company an “overweight” rating in a report on Friday, January 31st. One investment analyst has rated the stock with a sell rating, one has given a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $379.17.

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.