Valley Wealth Managers Inc. Has $462,000 Holdings in LPL Financial Holdings Inc. (NASDAQ:LPLA)

Valley Wealth Managers Inc. increased its holdings in LPL Financial Holdings Inc. (NASDAQ:LPLA) by 38.2% in the third quarter, HoldingsChannel reports. The firm owned 1,985 shares of the financial services provider’s stock after purchasing an additional 549 shares during the period. Valley Wealth Managers Inc.’s holdings in LPL Financial were worth $462,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in LPLA. Quantbot Technologies LP bought a new position in LPL Financial in the 1st quarter worth $198,000. Koshinski Asset Management Inc. acquired a new position in shares of LPL Financial during the 1st quarter worth about $259,000. Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in shares of LPL Financial by 14.9% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 39,331 shares of the financial services provider’s stock worth $10,391,000 after buying an additional 5,101 shares during the last quarter. Blair William & Co. IL lifted its holdings in shares of LPL Financial by 7.8% during the first quarter. Blair William & Co. IL now owns 25,287 shares of the financial services provider’s stock worth $6,681,000 after buying an additional 1,832 shares during the last quarter. Finally, Intech Investment Management LLC increased its position in LPL Financial by 38.8% during the first quarter. Intech Investment Management LLC now owns 41,850 shares of the financial services provider’s stock worth $11,057,000 after acquiring an additional 11,703 shares during the period. 95.66% of the stock is owned by institutional investors.

LPL Financial Stock Performance

LPL Financial stock opened at $314.02 on Friday. LPL Financial Holdings Inc. has a 12-month low of $187.19 and a 12-month high of $322.03. The stock has a 50-day simple moving average of $252.22 and a 200 day simple moving average of $251.45. The company has a quick ratio of 2.16, a current ratio of 2.16 and a debt-to-equity ratio of 1.60. The stock has a market capitalization of $23.51 billion, a price-to-earnings ratio of 23.61, a P/E/G ratio of 1.54 and a beta of 0.85.

LPL Financial (NASDAQ:LPLA) last released its quarterly earnings results on Wednesday, October 30th. The financial services provider reported $4.16 EPS for the quarter, beating the consensus estimate of $3.69 by $0.47. The business had revenue of $3.11 billion for the quarter, compared to analysts’ expectations of $3.04 billion. LPL Financial had a net margin of 8.73% and a return on equity of 49.47%. LPL Financial’s revenue was up 6.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.74 earnings per share. On average, research analysts anticipate that LPL Financial Holdings Inc. will post 16.08 earnings per share for the current fiscal year.

LPL Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Thursday, November 14th will be issued a dividend of $0.30 per share. The ex-dividend date is Thursday, November 14th. This represents a $1.20 annualized dividend and a yield of 0.38%. LPL Financial’s dividend payout ratio is currently 9.02%.

Wall Street Analyst Weigh In

LPLA has been the subject of a number of research analyst reports. JMP Securities reaffirmed a “market outperform” rating and set a $310.00 price objective on shares of LPL Financial in a research report on Wednesday, October 9th. TD Cowen raised their price objective on LPL Financial from $271.00 to $277.00 and gave the stock a “hold” rating in a research report on Thursday, October 31st. 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 research note on Wednesday, October 9th. UBS Group increased their price objective on shares of LPL Financial from $215.00 to $250.00 and gave the company a “neutral” rating in a research note on Tuesday, October 8th. Finally, Morgan Stanley upped their target price on shares of LPL Financial from $303.00 to $309.00 and gave the company an “overweight” rating in a research note on Thursday, October 17th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $286.92.

LPL Financial 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.