Magnolia Capital Advisors LLC Has $339,000 Stock Holdings in LPL Financial Holdings Inc. (NASDAQ:LPLA)

Magnolia Capital Advisors LLC boosted its position in LPL Financial Holdings Inc. (NASDAQ:LPLA) by 6.7% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,212 shares of the financial services provider’s stock after buying an additional 76 shares during the quarter. Magnolia Capital Advisors LLC’s holdings in LPL Financial were worth $339,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Ashton Thomas Private Wealth LLC acquired a new stake in LPL Financial in the 2nd quarter valued at approximately $25,000. Key Financial Inc acquired a new position in shares of LPL Financial during the 2nd quarter worth approximately $28,000. Riverview Trust Co acquired a new position in shares of LPL Financial during the 1st quarter worth approximately $30,000. Crewe Advisors LLC increased its position in shares of LPL Financial by 360.7% during 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 during the last quarter. Finally, Tortoise Investment Management LLC increased its position 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. Institutional investors and hedge funds own 95.66% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. StockNews.com raised LPL Financial from a “sell” rating to a “hold” rating in a research report on Wednesday, September 11th. Keefe, Bruyette & Woods lowered their price target on LPL Financial from $326.00 to $315.00 and set an “outperform” rating on the stock in a research report on Friday, July 26th. Bank of America raised LPL Financial from a “neutral” rating to a “buy” rating and set a $268.00 price target on the stock in a research report on Tuesday, July 30th. Jefferies Financial Group boosted their price target on LPL Financial from $322.00 to $334.00 and gave the stock a “buy” rating in a research report on Monday, July 8th. Finally, TD Cowen boosted their target price on LPL Financial from $243.00 to $255.00 and gave the stock a “hold” rating in a report on Friday, July 26th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, LPL Financial presently has an average rating of “Hold” and an average target price of $275.69.

LPL Financial Stock Performance

LPLA opened at $232.63 on Tuesday. The business has a fifty day simple moving average of $216.09 and a 200 day simple moving average of $250.12. The company has a market capitalization of $17.38 billion, a PE ratio of 17.57, a price-to-earnings-growth ratio of 1.27 and a beta of 0.88. LPL Financial Holdings Inc. has a 1 year low of $187.19 and a 1 year high of $289.88. The company has a debt-to-equity ratio of 1.77, a current ratio of 2.16 and a quick ratio of 2.16.

LPL Financial (NASDAQ:LPLA) last released its quarterly earnings results on Thursday, July 25th. The financial services provider reported $3.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.66 by $0.22. The business had revenue of $2.93 billion during the quarter, compared to the consensus estimate of $2.89 billion. LPL Financial had a return on equity of 52.14% and a net margin of 8.91%. The firm’s quarterly revenue was up 18.8% on a year-over-year basis. During the same period in the previous year, the company posted $3.94 EPS. Research analysts expect that LPL Financial Holdings Inc. will post 15.88 EPS for the current year.

LPL Financial Dividend Announcement

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