Apollon Wealth Management LLC Has $211,000 Stock Holdings in LPL Financial Holdings Inc. (NASDAQ:LPLA)

Apollon Wealth Management LLC reduced its stake in LPL Financial Holdings Inc. (NASDAQ:LPLA) by 12.2% during the third quarter, Holdings Channel.com reports. The fund owned 909 shares of the financial services provider’s stock after selling 126 shares during the period. Apollon Wealth Management LLC’s holdings in LPL Financial were worth $211,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in LPLA. Ashton Thomas Private Wealth LLC acquired a new position in shares of LPL Financial in the 2nd quarter worth approximately $25,000. Key Financial Inc acquired a new position in LPL Financial in the second quarter valued at $28,000. Ashton Thomas Securities LLC bought a new stake in LPL Financial during the third quarter valued at $31,000. Paladin Wealth LLC acquired a new stake in LPL Financial during the 3rd quarter worth about $34,000. Finally, Crewe Advisors LLC raised its position 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 worth $36,000 after acquiring an additional 101 shares in the last quarter. 95.66% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently commented on LPLA. StockNews.com upgraded LPL Financial from a “sell” rating to a “hold” rating in a research report on Saturday, November 9th. UBS Group raised their price objective 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. Morgan Stanley boosted their target price 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. JMP Securities restated a “market outperform” rating and issued a $310.00 price target on shares of LPL Financial in a report on Wednesday, October 9th. Finally, Citigroup upped their price objective on shares of LPL Financial from $285.00 to $310.00 and gave the company a “buy” rating in a report on Thursday, October 31st. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $286.92.

LPL Financial Stock Up 0.2 %

Shares of NASDAQ:LPLA opened at $314.77 on Tuesday. The business’s 50 day moving average is $252.22 and its 200 day moving average is $251.23. LPL Financial Holdings Inc. has a 12-month low of $187.19 and a 12-month high of $322.03. The stock has a market cap of $23.57 billion, a price-to-earnings ratio of 23.67, a PEG ratio of 1.54 and a beta of 0.85. 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) last posted its earnings results on Wednesday, October 30th. The financial services provider reported $4.16 earnings per share (EPS) for the quarter, topping the consensus estimate 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 analyst estimates of $3.04 billion. During the same quarter in the prior year, the business posted $3.74 EPS. The business’s revenue was up 6.0% compared to the same quarter last year. On average, sell-side analysts forecast that LPL Financial Holdings Inc. will post 16.08 earnings per share for the current fiscal year.

LPL Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders 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 annualized dividend and a yield of 0.38%. LPL Financial’s dividend payout ratio (DPR) is 9.02%.

LPL Financial Company 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.