Alliancebernstein L.P. raised its holdings in Lithia Motors, Inc. (NYSE:LAD) by 1.0% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,187,168 shares of the company’s stock after purchasing an additional 11,661 shares during the quarter. Alliancebernstein L.P. owned about 4.94% of Lithia Motors worth $111,867,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. BlackRock Inc. increased its stake in Lithia Motors by 152,203.5% in the first quarter. BlackRock Inc. now owns 2,901,382 shares of the company’s stock valued at $248,504,000 after purchasing an additional 2,899,477 shares during the period. Vanguard Group Inc. increased its stake in Lithia Motors by 5.6% in the first quarter. Vanguard Group Inc. now owns 2,040,301 shares of the company’s stock valued at $174,751,000 after purchasing an additional 107,578 shares during the period. Neuberger Berman Group LLC increased its stake in Lithia Motors by 10.4% in the first quarter. Neuberger Berman Group LLC now owns 1,466,628 shares of the company’s stock valued at $125,617,000 after purchasing an additional 138,376 shares during the period. Victory Capital Management Inc. increased its stake in Lithia Motors by 139.5% in the second quarter. Victory Capital Management Inc. now owns 955,783 shares of the company’s stock valued at $90,063,000 after purchasing an additional 556,684 shares during the period. Finally, Dimensional Fund Advisors LP increased its stake in Lithia Motors by 14.0% in the first quarter. Dimensional Fund Advisors LP now owns 922,561 shares of the company’s stock valued at $79,019,000 after purchasing an additional 113,357 shares during the period. Institutional investors own 98.47% of the company’s stock.

In related news, Director Sidney B. Deboer sold 71,756 shares of the stock in a transaction dated Friday, July 28th. The shares were sold at an average price of $103.40, for a total value of $7,419,570.40. Following the sale, the director now owns 28,668 shares of the company’s stock, valued at approximately $2,964,271.20. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Sidney B. Deboer sold 81,444 shares of the stock in a transaction dated Thursday, July 13th. The stock was sold at an average price of $99.39, for a total transaction of $8,094,719.16. Following the completion of the sale, the director now directly owns 48,668 shares in the company, valued at approximately $4,837,112.52. The disclosure for this sale can be found here. In the last ninety days, insiders sold 236,384 shares of company stock worth $23,856,356. Corporate insiders own 7.85% of the company’s stock.

LAD has been the topic of a number of recent research reports. Morgan Stanley dropped their price objective on shares of Lithia Motors from $115.00 to $106.00 and set an “overweight” rating on the stock in a research note on Friday, June 9th. Seaport Global Securities initiated coverage on shares of Lithia Motors in a research note on Wednesday, June 14th. They issued a “neutral” rating on the stock. Bank of America Corporation lowered shares of Lithia Motors from a “neutral” rating to an “underperform” rating and set a $92.00 price objective on the stock. in a research note on Friday, June 16th. Jefferies Group LLC restated a “buy” rating and issued a $115.00 price objective on shares of Lithia Motors in a research note on Wednesday, June 28th. Finally, BidaskClub upgraded shares of Lithia Motors from a “sell” rating to a “hold” rating in a research note on Wednesday, July 5th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $112.00.

Shares of Lithia Motors, Inc. (LAD) opened at 110.37 on Monday. The stock has a 50 day moving average of $103.61 and a 200 day moving average of $94.67. The stock has a market cap of $2.76 billion, a P/E ratio of 13.30 and a beta of 1.73. Lithia Motors, Inc. has a one year low of $75.85 and a one year high of $110.79.

Lithia Motors (NYSE:LAD) last released its quarterly earnings data on Friday, July 28th. The company reported $2.28 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.23 by $0.05. Lithia Motors had a net margin of 2.26% and a return on equity of 21.66%. The business had revenue of $2.47 billion for the quarter, compared to analysts’ expectations of $2.45 billion. During the same quarter last year, the company earned $1.96 EPS. The company’s revenue for the quarter was up 15.6% compared to the same quarter last year. Equities analysts expect that Lithia Motors, Inc. will post $8.62 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 25th. Investors of record on Friday, August 11th were issued a $0.27 dividend. The ex-dividend date of this dividend was Wednesday, August 9th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 0.98%. Lithia Motors’s dividend payout ratio (DPR) is presently 13.01%.

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Lithia Motors Company Profile

Lithia Motors, Inc is an operator of automotive franchises and a retailer of new and used vehicles and related services. As of February 28, 2017, it offered 30 brands of new vehicles and all brands of used vehicles in 154 stores in the United States and online at Lithia.com, DCHauto.com and CarboneCars.com.

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Institutional Ownership by Quarter for Lithia Motors (NYSE:LAD)

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