ASB Consultores LLC Has $200,000 Stock Position in LPL Financial Holdings Inc. (NASDAQ:LPLA)

ASB Consultores LLC increased its holdings in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA) by 16.8% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 860 shares of the financial services provider’s stock after buying an additional 124 shares during the quarter. ASB Consultores LLC’s holdings in LPL Financial were worth $200,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of LPLA. Ashton Thomas Private Wealth LLC acquired a new position in shares of LPL Financial during the second quarter worth $25,000. Key Financial Inc acquired a new position in LPL Financial in the 2nd quarter worth about $28,000. Crewe Advisors LLC increased its holdings in LPL Financial by 360.7% in the 2nd quarter. Crewe Advisors LLC now owns 129 shares of the financial services provider’s stock worth $36,000 after purchasing an additional 101 shares in the last quarter. Tortoise Investment Management LLC raised its position in LPL Financial by 74.7% in the second quarter. Tortoise Investment Management LLC now owns 131 shares of the financial services provider’s stock valued at $37,000 after purchasing an additional 56 shares during the last quarter. Finally, Paladin Wealth LLC acquired a new stake in shares of LPL Financial during the third quarter valued at about $34,000. 95.66% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts recently issued reports on LPLA shares. StockNews.com upgraded shares of LPL Financial from a “sell” rating to a “hold” rating in a report on Thursday, October 31st. Bank of America raised shares of LPL Financial from a “neutral” rating to a “buy” rating and set a $268.00 price target for the company in a research note on Tuesday, July 30th. Barclays boosted their price objective on shares of LPL Financial from $273.00 to $311.00 and gave the stock an “overweight” rating in a research note on Thursday, October 31st. JPMorgan Chase & Co. raised their target price on LPL Financial from $261.00 to $268.00 and gave the stock a “neutral” rating in a research report on Thursday, July 11th. Finally, Citigroup upped their price target on LPL Financial from $285.00 to $310.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and nine have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $286.92.

LPL Financial Price Performance

LPL Financial stock opened at $275.81 on Wednesday. The stock’s 50 day moving average price is $237.32 and its two-hundred day moving average price is $248.64. The stock has a market capitalization of $20.62 billion, a price-to-earnings ratio of 20.74, a PEG ratio of 1.39 and a beta of 0.85. The company has a debt-to-equity ratio of 1.77, a quick ratio of 2.16 and a current ratio of 2.16. LPL Financial Holdings Inc. has a 52-week low of $187.19 and a 52-week high of $291.67.

LPL Financial (NASDAQ:LPLA) last posted its quarterly earnings results on Wednesday, October 30th. The financial services provider reported $4.16 EPS for the quarter, topping analysts’ consensus estimates of $3.69 by $0.47. LPL Financial had a net margin of 8.73% and a return on equity of 52.08%. The business had revenue of $3.11 billion during the quarter, compared to analysts’ expectations of $3.04 billion. During the same period last year, the company posted $3.74 earnings per share. The business’s quarterly revenue was up 6.0% on a year-over-year basis. On average, equities analysts predict that LPL Financial Holdings Inc. will post 15.92 earnings per share for the current year.

LPL Financial Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Thursday, November 14th will be issued a $0.30 dividend. The ex-dividend date is Thursday, November 14th. This represents a $1.20 annualized dividend and a yield of 0.44%. LPL Financial’s payout ratio is currently 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.