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

Foster Victor Wealth Advisors LLC lessened its position in LPL Financial Holdings Inc. (NASDAQ:LPLA) by 21.9% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 54,459 shares of the financial services provider’s stock after selling 15,272 shares during the period. LPL Financial makes up 1.5% of Foster Victor Wealth Advisors LLC’s holdings, making the stock its 16th largest position. Foster Victor Wealth Advisors LLC’s holdings in LPL Financial were worth $19,002,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Robeco Institutional Asset Management B.V. raised its position in LPL Financial by 6.9% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 7,929 shares of the financial services provider’s stock worth $2,589,000 after acquiring an additional 512 shares in the last quarter. R Squared Ltd bought a new stake in shares of LPL Financial in the 4th quarter worth approximately $78,000. Perigon Wealth Management LLC acquired a new stake in LPL Financial during the fourth quarter valued at approximately $277,000. Hutchens & Kramer Investment Management Group LLC boosted its holdings in LPL Financial by 5.6% during the fourth quarter. Hutchens & Kramer Investment Management Group LLC now owns 958 shares of the financial services provider’s stock worth $313,000 after buying an additional 51 shares in the last quarter. Finally, Mount Yale Investment Advisors LLC grew its position in LPL Financial by 35.7% in the fourth quarter. Mount Yale Investment Advisors LLC now owns 3,693 shares of the financial services provider’s stock worth $1,206,000 after buying an additional 972 shares during the last quarter. Institutional investors and hedge funds own 95.66% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the company. Citigroup increased their price objective on LPL Financial from $310.00 to $385.00 and gave the company a “buy” rating in a research report on Friday, January 10th. Barclays increased their price target on LPL Financial from $378.00 to $379.00 and gave the company an “overweight” rating in a research report on Monday, January 13th. UBS Group upgraded LPL Financial from a “neutral” rating to a “buy” rating and set a $390.00 price objective on the stock in a report on Monday, January 6th. TD Cowen upgraded shares of LPL Financial from a “hold” rating to a “buy” rating and raised their target price for the stock from $277.00 to $413.00 in a report on Thursday, December 19th. Finally, The Goldman Sachs Group boosted their price target on shares of LPL Financial from $271.00 to $305.00 and gave the company a “buy” rating in a report on Friday, November 1st. One analyst has rated the stock with a sell rating, one has issued a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, LPL Financial currently has a consensus rating of “Moderate Buy” and an average price target of $351.50.

Insider Activity at LPL Financial

In related news, Director Aneri Jambusaria sold 305 shares of the company’s stock in a transaction on Thursday, December 5th. The shares were sold at an average price of $331.94, for a total value of $101,241.70. Following the completion of the sale, the director now directly owns 3,920 shares in the company, valued at approximately $1,301,204.80. This represents a 7.22 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 1.30% of the stock is currently owned by company insiders.

LPL Financial Trading Up 1.5 %

LPL Financial stock opened at $358.18 on Wednesday. LPL Financial Holdings Inc. has a 12 month low of $187.19 and a 12 month high of $361.63. 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 cap of $26.82 billion, a P/E ratio of 26.93, a P/E/G ratio of 1.09 and a beta of 0.87. The company’s fifty day simple moving average is $333.18 and its 200-day simple moving average is $271.86.

LPL Financial (NASDAQ:LPLA) last issued its earnings results on Wednesday, October 30th. The financial services provider reported $4.16 earnings per share for the quarter, topping the consensus estimate of $3.69 by $0.47. The company had revenue of $3.11 billion for the quarter, compared to analyst estimates of $3.04 billion. LPL Financial had a return on equity of 49.47% and a net margin of 8.73%. The business’s revenue was up 6.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $3.74 EPS. As a group, sell-side analysts forecast that LPL Financial Holdings Inc. will post 16.17 EPS for the current fiscal year.

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.