LPL Financial Holdings Inc. (NASDAQ:LPLA) Position Increased by Foster Victor Wealth Advisors LLC

Foster Victor Wealth Advisors LLC raised its position in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA) by 32.5% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 69,731 shares of the financial services provider’s stock after buying an additional 17,091 shares during the quarter. LPL Financial accounts for 1.2% of Foster Victor Wealth Advisors LLC’s portfolio, making the stock its 20th largest position. Foster Victor Wealth Advisors LLC’s holdings in LPL Financial were worth $17,142,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently bought and sold shares of the company. Ashton Thomas Private Wealth LLC purchased a new stake in LPL Financial during the second quarter valued at about $25,000. Key Financial Inc purchased a new stake in LPL Financial during the second quarter valued at about $28,000. Riverview Trust Co purchased a new stake in LPL Financial during the first quarter valued at about $30,000. Paladin Wealth LLC purchased a new stake in LPL Financial during the third quarter valued at about $34,000. Finally, Crewe Advisors LLC lifted its stake in LPL Financial by 360.7% during the second quarter. Crewe Advisors LLC now owns 129 shares of the financial services provider’s stock valued at $36,000 after buying an additional 101 shares in the last quarter. 95.66% of the stock is owned by hedge funds and other institutional investors.

LPL Financial Trading Up 1.0 %

Shares of LPLA stock opened at $252.20 on Wednesday. LPL Financial Holdings Inc. has a 12 month low of $187.19 and a 12 month high of $289.88. The company has a quick ratio of 2.16, a current ratio of 2.16 and a debt-to-equity ratio of 1.77. The business’s 50 day moving average is $220.73 and its two-hundred day moving average is $248.32. The company has a market cap of $18.84 billion, a PE ratio of 19.05, a price-to-earnings-growth ratio of 1.32 and a beta of 0.88.

LPL Financial (NASDAQ:LPLA) last announced its quarterly earnings results on Thursday, July 25th. The financial services provider reported $3.88 EPS for the quarter, beating the consensus estimate of $3.66 by $0.22. LPL Financial had a return on equity of 52.14% and a net margin of 8.91%. The company had revenue of $2.93 billion for the quarter, compared to the consensus estimate of $2.89 billion. During the same quarter last year, the company posted $3.94 earnings per share. The company’s revenue for the quarter was up 18.8% compared to the same quarter last year. Equities analysts predict that LPL Financial Holdings Inc. will post 15.79 EPS for the current year.

LPL Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 23rd. Stockholders of record on Friday, August 9th were given a $0.30 dividend. The ex-dividend date was Friday, August 9th. This represents a $1.20 annualized dividend and a dividend yield of 0.48%. LPL Financial’s dividend payout ratio is 9.06%.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on LPLA. Jefferies Financial Group dropped their target price on LPL Financial from $309.00 to $282.00 and set a “buy” rating on the stock in a report on Friday, October 4th. UBS Group upped their target price on LPL Financial from $215.00 to $250.00 and gave the company a “neutral” rating in a report on Tuesday, October 8th. JPMorgan Chase & Co. upped their target price on LPL Financial from $261.00 to $268.00 and gave the company a “neutral” rating in a report on Thursday, July 11th. Citigroup dropped their target price on LPL Financial from $325.00 to $285.00 and set a “buy” rating on the stock in a report on Friday, September 27th. Finally, Wells Fargo & Company upgraded LPL Financial from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $235.00 to $285.00 in a report on Wednesday, October 9th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $278.23.

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.