Gradient Investments LLC Has $2.37 Million Stock Position in LPL Financial Holdings Inc. (NASDAQ:LPLA)

Gradient Investments LLC cut its position in LPL Financial Holdings Inc. (NASDAQ:LPLA) by 5.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 7,259 shares of the financial services provider’s stock after selling 441 shares during the quarter. Gradient Investments LLC’s holdings in LPL Financial were worth $2,370,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of LPLA. Ashton Thomas Securities LLC bought a new position in LPL Financial during the third quarter valued at about $31,000. Paladin Wealth LLC bought a new position in shares of LPL Financial during the 3rd quarter worth about $34,000. Brooklyn Investment Group bought a new position in shares of LPL Financial during the 3rd quarter worth about $43,000. Quarry LP boosted 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 valued at $91,000 after acquiring an additional 102 shares in the last quarter. Finally, GAMMA Investing LLC increased its stake in LPL Financial by 71.6% in the fourth quarter. GAMMA Investing LLC now owns 357 shares of the financial services provider’s stock valued at $117,000 after acquiring an additional 149 shares during the period. Institutional investors own 95.66% of the company’s stock.

LPL Financial Price Performance

Shares of LPLA stock opened at $360.29 on Friday. LPL Financial Holdings Inc. has a 1 year low of $187.19 and a 1 year high of $361.63. 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 firm’s 50 day moving average is $331.55 and its 200-day moving average is $270.59. The firm has a market capitalization of $26.98 billion, a price-to-earnings ratio of 27.09, a PEG ratio of 1.09 and a beta of 0.87.

LPL Financial (NASDAQ:LPLA) last posted its quarterly earnings data 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. The firm had revenue of $3.11 billion for the quarter, compared to the consensus estimate of $3.04 billion. LPL Financial had a return on equity of 49.47% and a net margin of 8.73%. The business’s revenue for the quarter was up 6.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $3.74 EPS. Sell-side analysts forecast that LPL Financial Holdings Inc. will post 16.17 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on LPLA shares. StockNews.com raised LPL Financial from a “sell” rating to a “hold” rating in a report on Saturday, November 9th. Morgan Stanley boosted their price target on LPL Financial from $303.00 to $309.00 and gave the company an “overweight” rating in a research note on Thursday, October 17th. Citigroup increased their price objective on LPL Financial from $310.00 to $385.00 and gave the stock a “buy” rating in a research note on Friday, January 10th. The Goldman Sachs Group boosted their target price on shares of LPL Financial from $271.00 to $305.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Finally, JPMorgan Chase & Co. upgraded shares of LPL Financial from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $288.00 to $397.00 in a research report on Tuesday, January 7th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $351.50.

Insider Activity

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 of the company’s stock, valued at approximately $1,301,204.80. The trade was a 7.22 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.30% of the stock is currently owned by 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.