Sonora Investment Management Group LLC Sells 1,030 Shares of AllianceBernstein Holding L.P. (NYSE:AB)

Sonora Investment Management Group LLC cut its holdings in AllianceBernstein Holding L.P. (NYSE:AB) by 10.3% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 9,012 shares of the asset manager’s stock after selling 1,030 shares during the period. Sonora Investment Management Group LLC’s holdings in AllianceBernstein were worth $334,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. NBC Securities Inc. increased its position in shares of AllianceBernstein by 80.8% during 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 period. Truvestments Capital LLC acquired a new stake in AllianceBernstein during the third quarter valued at approximately $31,000. FSA Wealth Management LLC bought a new stake in shares of AllianceBernstein in the 3rd quarter valued at approximately $36,000. Farther Finance Advisors LLC lifted its position in shares of AllianceBernstein by 115.4% during the 3rd quarter. Farther Finance Advisors LLC now owns 1,426 shares of the asset manager’s stock worth $50,000 after buying an additional 764 shares during the period. Finally, CWM LLC boosted its stake in AllianceBernstein by 740.7% in the 3rd quarter. CWM LLC now owns 2,270 shares of the asset manager’s stock valued at $79,000 after buying an additional 2,000 shares in the last quarter. Institutional investors and hedge funds own 19.25% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have issued reports on AB shares. Evercore ISI increased their price objective on AllianceBernstein from $43.00 to $45.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. Barclays cut 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. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $42.40.

AllianceBernstein Stock Performance

Shares of AB stock opened at $40.13 on Friday. The stock’s fifty day moving average is $37.05 and its 200-day moving average is $35.87. AllianceBernstein Holding L.P. has a 52 week low of $30.57 and a 52 week high of $40.86. The stock has a market capitalization of $4.62 billion, a PE ratio of 11.50, a PEG ratio of 0.80 and a beta of 1.20.

AllianceBernstein Company 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.