AllianceBernstein (NYSE:AB) Stock Crosses Above 50 Day Moving Average - Should You Sell?

AllianceBernstein Holding L.P. (NYSE:AB - Get Free Report) passed above its 50-day moving average during trading on Friday . The stock has a 50-day moving average of $36.48 and traded as high as $36.68. AllianceBernstein shares last traded at $35.44, with a volume of 336,299 shares trading hands.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on AB. Barclays decreased their target price on shares of AllianceBernstein from $39.00 to $36.00 and set an "equal weight" rating on the stock in a report on Monday, December 9th. Evercore ISI increased their price objective on AllianceBernstein from $43.00 to $45.00 and gave the stock an "outperform" rating in a research report on Thursday, November 7th. Finally, The Goldman Sachs Group lifted their price objective on AllianceBernstein from $40.75 to $41.00 and gave the company a "buy" rating in a research note on Thursday, October 3rd. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $42.40.

AllianceBernstein Stock Performance

The stock has a market capitalization of $4.08 billion, a P/E ratio of 10.15, a price-to-earnings-growth ratio of 0.83 and a beta of 1.20. The stock has a 50-day moving average price of $36.44 and a two-hundred day moving average price of $35.35.

AllianceBernstein Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 21st. Shareholders of record on Monday, November 4th were issued a $0.77 dividend. The ex-dividend date of this dividend was Monday, November 4th. This is a positive change from AllianceBernstein's previous quarterly dividend of $0.71. This represents a $3.08 annualized dividend and a yield of 8.69%. AllianceBernstein's dividend payout ratio (DPR) is 88.25%.

Hedge Funds Weigh In On AllianceBernstein

A number of institutional investors have recently added to or reduced their stakes in AB. NBC Securities Inc. boosted its position in shares of AllianceBernstein by 80.8% in the 3rd quarter. NBC Securities Inc. now owns 736 shares of the asset manager's stock worth $25,000 after purchasing an additional 329 shares in the last quarter. Truvestments Capital LLC bought a new stake in AllianceBernstein in the third quarter worth $31,000. FSA Wealth Management LLC purchased a new stake in shares of AllianceBernstein in the third quarter worth $36,000. Farther Finance Advisors LLC raised its position in shares of AllianceBernstein by 115.4% in the 3rd quarter. Farther Finance Advisors LLC now owns 1,426 shares of the asset manager's stock worth $50,000 after purchasing an additional 764 shares during the last quarter. Finally, CWM LLC raised its position in shares of AllianceBernstein by 740.7% in the 3rd quarter. CWM LLC now owns 2,270 shares of the asset manager's stock worth $79,000 after purchasing an additional 2,000 shares during the last quarter. Institutional investors own 19.25% of the company's stock.

About AllianceBernstein

AllianceBernstein Holding L.P. is a publicly owned investment manager. The firm is a related adviser The firm manages separate client focused portfolios for its clients. The firm primarily invests in common and preferred stocks, warrants and convertible securities, government and corporate fxed-income securities, commodities, currencies, real estate-related assets and infation-protected securities.