Opal Wealth Advisors LLC Acquires Shares of 7,111 AllianceBernstein Holding L.P. (NYSE:AB)

Opal Wealth Advisors LLC purchased a new stake in shares of AllianceBernstein Holding L.P. (NYSE:AB - Free Report) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 7,111 shares of the asset manager's stock, valued at approximately $264,000.

Other institutional investors have also made changes to their positions in the company. NBC Securities Inc. grew its holdings in shares of AllianceBernstein by 80.8% in the third quarter. NBC Securities Inc. now owns 736 shares of the asset manager's stock valued at $25,000 after purchasing an additional 329 shares in the last quarter. Truvestments Capital LLC acquired a new position in shares of AllianceBernstein in the third quarter valued at approximately $31,000. FSA Wealth Management LLC acquired a new position in shares of AllianceBernstein in the third quarter valued at approximately $36,000. Luken Investment Analytics LLC acquired a new position in shares of AllianceBernstein in the fourth quarter valued at approximately $37,000. Finally, Farther Finance Advisors LLC grew its holdings in shares of AllianceBernstein by 115.4% in the third quarter. Farther Finance Advisors LLC now owns 1,426 shares of the asset manager's stock valued at $50,000 after purchasing an additional 764 shares in the last quarter. 19.25% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have commented on AB shares. Barclays lowered their price target on shares of AllianceBernstein from $39.00 to $36.00 and set an "equal weight" rating for the company in a report on Monday, December 9th. Evercore ISI boosted their price target on shares of AllianceBernstein from $43.00 to $45.00 and gave the stock an "outperform" rating in a report on Thursday, November 7th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $42.40.

AllianceBernstein Price Performance

Shares of NYSE:AB traded up $0.87 during trading on Thursday, hitting $35.87. 957,131 shares of the company were exchanged, compared to its average volume of 689,725. The stock has a market capitalization of $4.13 billion, a P/E ratio of 9.64, a PEG ratio of 0.73 and a beta of 1.21. AllianceBernstein Holding L.P. has a 12-month low of $30.57 and a 12-month high of $41.37. The firm's 50 day moving average price is $37.21 and its 200-day moving average price is $36.04.

AllianceBernstein (NYSE:AB - Get Free Report) last issued its quarterly earnings data on Thursday, February 6th. The asset manager reported $1.05 earnings per share for the quarter, topping the consensus estimate of $0.87 by $0.18. AllianceBernstein had a net margin of 9.46% and a return on equity of 17.77%. As a group, equities research analysts anticipate that AllianceBernstein Holding L.P. will post 3.48 EPS for the current year.

AllianceBernstein Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 13th. Investors of record on Tuesday, February 18th will be given a $1.05 dividend. This is an increase from AllianceBernstein's previous quarterly dividend of $0.77. The ex-dividend date of this dividend is Tuesday, February 18th. This represents a $4.20 annualized dividend and a yield of 11.71%. AllianceBernstein's dividend payout ratio is 82.80%.

AllianceBernstein Profile

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.