IHT Wealth Management LLC Purchases 423 Shares of LPL Financial Holdings Inc. (NASDAQ:LPLA)

IHT Wealth Management LLC grew its position in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA – Get Rating) by 18.2% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 2,747 shares of the financial services provider’s stock after buying an additional 423 shares during the quarter. IHT Wealth Management LLC’s holdings in LPL Financial were worth $600,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the company. Benjamin Edwards Inc. grew its stake in LPL Financial by 22.3% during the third quarter. Benjamin Edwards Inc. now owns 225 shares of the financial services provider’s stock worth $49,000 after buying an additional 41 shares during the last quarter. Sanchez Wealth Management Group lifted its position in shares of LPL Financial by 4.6% during the third quarter. Sanchez Wealth Management Group now owns 1,571 shares of the financial services provider’s stock worth $343,000 after purchasing an additional 69 shares in the last quarter. Advisors Asset Management Inc. lifted its position in shares of LPL Financial by 0.9% during the first quarter. Advisors Asset Management Inc. now owns 8,065 shares of the financial services provider’s stock worth $1,473,000 after purchasing an additional 75 shares in the last quarter. CWM LLC lifted its position in shares of LPL Financial by 8.5% during the third quarter. CWM LLC now owns 1,018 shares of the financial services provider’s stock worth $222,000 after purchasing an additional 80 shares in the last quarter. Finally, Yousif Capital Management LLC lifted its position in shares of LPL Financial by 3.6% during the first quarter. Yousif Capital Management LLC now owns 2,424 shares of the financial services provider’s stock worth $443,000 after purchasing an additional 85 shares in the last quarter. 94.89% of the stock is owned by institutional investors.

LPL Financial Stock Down 3.5 %

Shares of NASDAQ:LPLA opened at $195.47 on Friday. LPL Financial Holdings Inc. has a 52 week low of $165.47 and a 52 week high of $271.56. The company has a debt-to-equity ratio of 1.25, a quick ratio of 1.60 and a current ratio of 1.60. The company has a market capitalization of $15.38 billion, a PE ratio of 18.76, a PEG ratio of 0.22 and a beta of 0.95. The company has a 50 day moving average price of $235.14 and a two-hundred day moving average price of $232.12.

LPL Financial Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 28th. Shareholders of record on Tuesday, March 14th will be paid a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 0.61%. The ex-dividend date is Monday, March 13th. This is an increase from LPL Financial’s previous quarterly dividend of $0.25. LPL Financial’s dividend payout ratio is presently 11.52%.

Insider Buying and Selling at LPL Financial

In other LPL Financial news, CFO Matthew J. Audette sold 20,810 shares of the company’s stock in a transaction that occurred on Monday, February 6th. The shares were sold at an average price of $239.30, for a total value of $4,979,833.00. Following the completion of the sale, the chief financial officer now owns 12,667 shares of the company’s stock, valued at $3,031,213.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other LPL Financial news, CFO Matthew J. Audette sold 20,810 shares of the company’s stock in a transaction that occurred on Monday, February 6th. The shares were sold at an average price of $239.30, for a total value of $4,979,833.00. Following the completion of the sale, the chief financial officer now owns 12,667 shares of the company’s stock, valued at $3,031,213.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Sallie R. Larsen sold 20,519 shares of the company’s stock in a transaction that occurred on Monday, February 13th. The shares were sold at an average price of $241.84, for a total transaction of $4,962,314.96. Following the completion of the sale, the director now directly owns 24,555 shares of the company’s stock, valued at approximately $5,938,381.20. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 91,693 shares of company stock valued at $22,341,455. Corporate insiders own 1.60% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on LPLA shares. William Blair reiterated an “outperform” rating on shares of LPL Financial in a research report on Tuesday, January 17th. Credit Suisse Group reduced their target price on shares of LPL Financial from $283.50 to $266.00 and set an “outperform” rating on the stock in a research report on Friday, February 3rd. Morgan Stanley upped their target price on shares of LPL Financial from $239.00 to $244.00 and gave the stock an “equal weight” rating in a research report on Monday, February 6th. JMP Securities reiterated a “market outperform” rating and set a $290.00 target price on shares of LPL Financial in a research report on Monday, March 13th. Finally, StockNews.com started coverage on shares of LPL Financial in a report on Thursday. They issued a “hold” rating on the stock. Four research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $260.88.

LPL Financial Profile

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LPL Financial Holdings, Inc serves independent financial advisors and financial institutions, providing them with the technology, research, clearing and compliance services, and practice management programs they need to create and grow their practices. It provides objective financial guidance to millions of American families seeking wealth management, retirement planning, financial planning and asset management solutions.