Sonora Investment Management Group LLC Has $334,000 Stock Position in AllianceBernstein Holding L.P. (NYSE:AB)

Sonora Investment Management Group LLC cut its holdings in shares of AllianceBernstein Holding L.P. (NYSE:AB) by 10.3% during the fourth quarter, HoldingsChannel.com reports. The firm owned 9,012 shares of the asset manager’s stock after selling 1,030 shares during the quarter. Sonora Investment Management Group LLC’s holdings in AllianceBernstein were worth $334,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the business. NBC Securities Inc. increased its holdings in 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 during the last quarter. Truvestments Capital LLC acquired a new position in shares of AllianceBernstein during the 3rd quarter worth about $31,000. FSA Wealth Management LLC bought a new stake in shares of AllianceBernstein in the 3rd quarter valued at about $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 valued at $50,000 after acquiring an additional 764 shares during the period. Finally, CWM LLC boosted its stake in AllianceBernstein by 740.7% during the 3rd quarter. CWM LLC now owns 2,270 shares of the asset manager’s stock worth $79,000 after acquiring an additional 2,000 shares during the last quarter. Institutional investors own 19.25% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the stock. Evercore ISI increased their target price on shares of AllianceBernstein from $43.00 to $45.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. Barclays dropped their price objective on AllianceBernstein from $39.00 to $36.00 and set an “equal weight” rating on the stock in a research note on Monday, December 9th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $42.40.

AllianceBernstein Stock Up 0.8 %

Shares of AB stock opened at $40.13 on Friday. The company has a market capitalization of $4.62 billion, a price-to-earnings ratio of 11.50, a P/E/G ratio of 0.80 and a beta of 1.20. AllianceBernstein Holding L.P. has a 12-month low of $30.57 and a 12-month high of $40.86. The firm has a fifty day moving average of $37.05 and a 200-day moving average of $35.87.

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.