Mount Yale Investment Advisors LLC Acquires 206 Shares of LPL Financial Holdings Inc. (NASDAQ:LPLA)

Mount Yale Investment Advisors LLC lifted its stake in LPL Financial Holdings Inc. (NASDAQ:LPLA) by 11.8% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,952 shares of the financial services provider’s stock after buying an additional 206 shares during the quarter. Mount Yale Investment Advisors LLC’s holdings in LPL Financial were worth $545,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of LPLA. Ashton Thomas Private Wealth LLC bought a new position in shares of LPL Financial in the second quarter worth about $25,000. Key Financial Inc bought a new position in shares of LPL Financial during the 2nd quarter valued at about $28,000. Riverview Trust Co bought a new position in shares of LPL Financial during the 1st quarter valued at about $30,000. Crewe Advisors LLC increased its holdings in shares of LPL Financial by 360.7% in the second quarter. Crewe Advisors LLC now owns 129 shares of the financial services provider’s stock worth $36,000 after purchasing an additional 101 shares during the last quarter. Finally, Tortoise Investment Management LLC grew its holdings in LPL Financial by 74.7% during the 2nd quarter. Tortoise Investment Management LLC now owns 131 shares of the financial services provider’s stock valued at $37,000 after buying an additional 56 shares in the last quarter. 95.66% of the stock is currently owned by institutional investors.

LPL Financial Trading Up 2.5 %

Shares of NASDAQ LPLA opened at $220.82 on Tuesday. LPL Financial Holdings Inc. has a fifty-two week low of $187.19 and a fifty-two week high of $289.88. The company has a debt-to-equity ratio of 1.77, a quick ratio of 2.16 and a current ratio of 2.16. The company has a market cap of $16.50 billion, a price-to-earnings ratio of 16.68, a PEG ratio of 1.20 and a beta of 0.88. The business’s 50 day moving average price is $215.39 and its 200-day moving average price is $251.35.

LPL Financial (NASDAQ:LPLA) last released its earnings results on Thursday, July 25th. The financial services provider reported $3.88 earnings per share for the quarter, topping analysts’ consensus estimates of $3.66 by $0.22. The business had revenue of $2.93 billion for the quarter, compared to analyst estimates of $2.89 billion. LPL Financial had a return on equity of 52.14% and a net margin of 8.91%. The business’s revenue was up 18.8% compared to the same quarter last year. During the same quarter last year, the firm posted $3.94 earnings per share. On average, sell-side analysts expect that LPL Financial Holdings Inc. will post 15.9 earnings per share for the current year.

LPL Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 23rd. Investors of record on Friday, August 9th were issued a dividend of $0.30 per share. The ex-dividend date of this dividend was Friday, August 9th. This represents a $1.20 dividend on an annualized basis and a yield of 0.54%. LPL Financial’s payout ratio is 9.06%.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. Jefferies Financial Group raised their target price on shares of LPL Financial from $322.00 to $334.00 and gave the company a “buy” rating in a report on Monday, July 8th. Barclays reduced their target price on shares of LPL Financial from $313.00 to $273.00 and set an “overweight” rating on the stock in a report on Friday, July 26th. StockNews.com upgraded shares of LPL Financial from a “sell” rating to a “hold” rating in a research report on Wednesday, September 11th. TD Cowen lifted their price target on LPL Financial from $243.00 to $255.00 and gave the stock a “hold” rating in a research report on Friday, July 26th. Finally, Keefe, Bruyette & Woods decreased their price objective on LPL Financial from $326.00 to $315.00 and set an “outperform” rating on the stock in a research report on Friday, July 26th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $275.27.

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.