IHT Wealth Management LLC Has $792,000 Stake in LPL Financial Holdings Inc. (NASDAQ:LPLA)

IHT Wealth Management LLC grew its stake in LPL Financial Holdings Inc. (NASDAQ:LPLA) by 14.1% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,411 shares of the financial services provider’s stock after purchasing an additional 422 shares during the period. IHT Wealth Management LLC’s holdings in LPL Financial were worth $792,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Daiwa Securities Group Inc. increased its stake in shares of LPL Financial by 50.6% in the 3rd quarter. Daiwa Securities Group Inc. now owns 15,841 shares of the financial services provider’s stock valued at $3,685,000 after acquiring an additional 5,320 shares in the last quarter. Raymond James & Associates boosted its holdings in LPL Financial by 5.4% during the 2nd quarter. Raymond James & Associates now owns 394,091 shares of the financial services provider’s stock worth $110,070,000 after acquiring an additional 20,123 shares during the last quarter. Coronation Fund Managers Ltd. boosted its holdings in LPL Financial by 68.2% during the 3rd quarter. Coronation Fund Managers Ltd. now owns 217,451 shares of the financial services provider’s stock worth $50,586,000 after acquiring an additional 88,196 shares during the last quarter. Assenagon Asset Management S.A. boosted its holdings in LPL Financial by 882.4% during the 2nd quarter. Assenagon Asset Management S.A. now owns 85,914 shares of the financial services provider’s stock worth $23,996,000 after acquiring an additional 77,169 shares during the last quarter. Finally, Bridgewater Associates LP boosted its holdings in LPL Financial by 230.4% during the 3rd quarter. Bridgewater Associates LP now owns 35,848 shares of the financial services provider’s stock worth $8,339,000 after acquiring an additional 24,998 shares during the last quarter. 95.66% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. StockNews.com raised shares of LPL Financial from a “sell” rating to a “hold” rating in a report on Saturday, November 9th. Morgan Stanley boosted their price target on shares of LPL Financial from $303.00 to $309.00 and gave the stock an “overweight” rating in a report on Thursday, October 17th. JMP Securities reissued a “market outperform” rating and issued a $310.00 price target on shares of LPL Financial in a report on Wednesday, October 9th. TD Cowen boosted their price target on shares of LPL Financial from $271.00 to $277.00 and gave the stock a “hold” rating in a report on Thursday, October 31st. Finally, Barclays boosted their price target on shares of LPL Financial from $273.00 to $311.00 and gave the stock an “overweight” rating in a report on Thursday, October 31st. One analyst has rated the stock with a sell rating, four have given a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $290.83.

LPL Financial Price Performance

LPLA opened at $327.56 on Friday. LPL Financial Holdings Inc. has a 1 year low of $187.19 and a 1 year high of $332.54. The stock has a 50-day moving average price of $284.54 and a 200-day moving average price of $257.24. The firm has a market cap of $24.53 billion, a PE ratio of 24.63, a P/E/G ratio of 1.58 and a beta of 0.86. The company has a debt-to-equity ratio of 1.60, a current ratio of 2.16 and a quick ratio of 2.16.

LPL Financial (NASDAQ:LPLA) last released its quarterly earnings results on Wednesday, October 30th. The financial services provider reported $4.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 return on equity of 49.47% and a net margin of 8.73%. The business’s quarterly revenue was up 6.0% compared to the same quarter last year. During the same period in the previous year, the company posted $3.74 EPS. Sell-side analysts predict that LPL Financial Holdings Inc. will post 16.1 earnings per share for the current fiscal year.

LPL Financial Dividend Announcement

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

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.