LPL Financial Holdings Inc. (NASDAQ:LPLA) Stake Lessened by Maverick Capital Ltd.

Maverick Capital Ltd. decreased its holdings in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA) by 17.3% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 273,144 shares of the financial services provider’s stock after selling 57,288 shares during the quarter. LPL Financial accounts for approximately 1.4% of Maverick Capital Ltd.’s holdings, making the stock its 23rd biggest position. Maverick Capital Ltd. owned approximately 0.37% of LPL Financial worth $76,289,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. DGS Capital Management LLC lifted its holdings in shares of LPL Financial by 2.8% during the 1st quarter. DGS Capital Management LLC now owns 1,625 shares of the financial services provider’s stock valued at $429,000 after buying an additional 44 shares during the last quarter. Tortoise Investment Management LLC increased its stake in shares of LPL Financial by 74.7% during the 2nd quarter. Tortoise Investment Management LLC now owns 131 shares of the financial services provider’s stock worth $37,000 after purchasing an additional 56 shares during the last quarter. King Luther Capital Management Corp raised its holdings in shares of LPL Financial by 1.0% during the 2nd quarter. King Luther Capital Management Corp now owns 5,860 shares of the financial services provider’s stock valued at $1,637,000 after purchasing an additional 56 shares in the last quarter. Gulf International Bank UK Ltd lifted its stake in shares of LPL Financial by 0.9% in the 1st quarter. Gulf International Bank UK Ltd now owns 6,410 shares of the financial services provider’s stock valued at $1,693,000 after purchasing an additional 60 shares during the last quarter. Finally, LVW Advisors LLC boosted its holdings in LPL Financial by 1.9% in the first quarter. LVW Advisors LLC now owns 3,245 shares of the financial services provider’s stock worth $857,000 after purchasing an additional 61 shares in the last quarter. 95.66% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

LPLA has been the subject of several recent analyst reports. Barclays decreased their price target on LPL Financial from $313.00 to $273.00 and set an “overweight” rating for the company in a research note on Friday, July 26th. JMP Securities upped their price target on shares of LPL Financial from $305.00 to $310.00 and gave the company a “market outperform” rating in a report on Friday, July 26th. StockNews.com upgraded LPL Financial from a “sell” rating to a “hold” rating in a research note on Wednesday, September 11th. Keefe, Bruyette & Woods lowered their target price on LPL Financial from $326.00 to $315.00 and set an “outperform” rating on the stock in a report on Friday, July 26th. Finally, Wells Fargo & Company started coverage on LPL Financial in a research report on Thursday, September 12th. They issued an “equal weight” rating and a $235.00 price objective for the company. One research analyst has rated the stock with a sell rating, six have given a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $274.92.

LPL Financial Stock Down 0.5 %

Shares of LPLA opened at $229.27 on Friday. 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 company has a 50-day moving average price of $215.33 and a two-hundred day moving average price of $250.76. The stock has a market cap of $17.13 billion, a price-to-earnings ratio of 17.32, a P/E/G ratio of 1.27 and a beta of 0.88. LPL Financial Holdings Inc. has a 12 month low of $187.19 and a 12 month high of $289.88.

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 business had revenue of $2.93 billion for the quarter, compared to analyst estimates of $2.89 billion. During the same quarter in the previous year, the firm earned $3.94 EPS. LPL Financial’s quarterly revenue was up 18.8% on a year-over-year basis. Equities analysts predict that LPL Financial Holdings Inc. will post 15.88 EPS for the current fiscal year.

LPL Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 23rd. Investors of record on Friday, August 9th were given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.52%. The ex-dividend date of this dividend was Friday, August 9th. LPL Financial’s dividend payout ratio (DPR) is currently 9.06%.

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.