Fmr LLC Has $772.93 Million Stock Holdings in LPL Financial Holdings Inc. (NASDAQ:LPLA)

Fmr LLC grew its position in LPL Financial Holdings Inc. (NASDAQ:LPLA) by 24.4% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 3,322,571 shares of the financial services provider’s stock after buying an additional 650,675 shares during the period. Fmr LLC owned approximately 4.44% of LPL Financial worth $772,930,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Ashton Thomas Private Wealth LLC acquired a new stake in shares of LPL Financial during the second quarter worth $25,000. Key Financial Inc bought a new position in LPL Financial during the 2nd quarter worth about $28,000. Crewe Advisors LLC raised its stake in shares of LPL Financial by 360.7% in the 2nd quarter. Crewe Advisors LLC now owns 129 shares of the financial services provider’s stock valued at $36,000 after purchasing an additional 101 shares during the period. Tortoise Investment Management LLC lifted its holdings in shares of LPL Financial by 74.7% in the second quarter. Tortoise Investment Management LLC now owns 131 shares of the financial services provider’s stock valued at $37,000 after purchasing an additional 56 shares in the last quarter. Finally, Ashton Thomas Securities LLC acquired a new position in shares of LPL Financial during the third quarter worth about $31,000. Institutional investors own 95.66% of the company’s stock.

LPL Financial Stock Performance

Shares of NASDAQ LPLA opened at $325.72 on Friday. The company has a current ratio of 2.16, a quick ratio of 2.16 and a debt-to-equity ratio of 1.60. The company has a market capitalization of $24.39 billion, a P/E ratio of 24.49, a P/E/G ratio of 1.59 and a beta of 0.85. LPL Financial Holdings Inc. has a 12 month low of $187.19 and a 12 month high of $330.72. The stock has a 50 day moving average of $270.26 and a 200-day moving average of $254.32.

LPL Financial (NASDAQ:LPLA) last released its quarterly earnings data on Wednesday, October 30th. The financial services provider reported $4.16 EPS for the quarter, topping analysts’ consensus estimates of $3.69 by $0.47. The firm had revenue of $3.11 billion during the quarter, compared to analysts’ expectations of $3.04 billion. LPL Financial had a net margin of 8.73% and a return on equity of 49.47%. The company’s revenue for the quarter was up 6.0% compared to the same quarter last year. During the same period in the previous year, the business posted $3.74 earnings per share. As a group, equities research analysts predict that LPL Financial Holdings Inc. will post 16.1 EPS for the current year.

LPL Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Thursday, November 14th will be paid a $0.30 dividend. The ex-dividend date of this dividend is Thursday, November 14th. This represents a $1.20 dividend on an annualized basis and a yield of 0.37%. LPL Financial’s dividend payout ratio (DPR) is currently 9.02%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on LPLA shares. Jefferies Financial Group dropped their target price on LPL Financial from $309.00 to $282.00 and set a “buy” rating on the stock in a research report on Friday, October 4th. Wells Fargo & Company raised shares of LPL Financial from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $235.00 to $285.00 in a research report on Wednesday, October 9th. JMP Securities reaffirmed a “market outperform” rating and issued a $310.00 target price on shares of LPL Financial in a research report on Wednesday, October 9th. UBS Group boosted their price target on shares of LPL Financial from $215.00 to $250.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 8th. Finally, Morgan Stanley raised their price objective on LPL Financial from $303.00 to $309.00 and gave the company an “overweight” rating in a report on Thursday, October 17th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, LPL Financial currently has an average rating of “Moderate Buy” and a consensus target price of $286.92.

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.