Opal Wealth Advisors LLC Invests $264,000 in AllianceBernstein Holding L.P. (NYSE:AB)

Opal Wealth Advisors LLC bought a new position in shares of AllianceBernstein Holding L.P. (NYSE:AB) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 7,111 shares of the asset manager’s stock, valued at approximately $264,000.

A number of other large investors have also bought and sold shares of the stock. FMR LLC lifted its holdings in shares of AllianceBernstein by 6.3% in the 3rd quarter. FMR LLC now owns 2,613,381 shares of the asset manager’s stock worth $91,181,000 after purchasing an additional 154,039 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in shares of AllianceBernstein by 12.1% during the third quarter. JPMorgan Chase & Co. now owns 2,454,364 shares of the asset manager’s stock valued at $85,633,000 after buying an additional 265,844 shares during the last quarter. Jennison Associates LLC increased its position in shares of AllianceBernstein by 7.0% during the fourth quarter. Jennison Associates LLC now owns 939,649 shares of the asset manager’s stock worth $34,852,000 after acquiring an additional 61,326 shares in the last quarter. Citigroup Inc. raised its holdings in shares of AllianceBernstein by 59.1% in the 3rd quarter. Citigroup Inc. now owns 645,685 shares of the asset manager’s stock worth $22,528,000 after acquiring an additional 239,941 shares during the last quarter. Finally, Franklin Resources Inc. lifted its position in AllianceBernstein by 0.5% in the 3rd quarter. Franklin Resources Inc. now owns 413,165 shares of the asset manager’s stock valued at $14,919,000 after acquiring an additional 2,000 shares in the last quarter. 19.25% of the stock is currently owned by institutional investors and hedge funds.

AllianceBernstein Trading Up 1.5 %

AB stock opened at $36.58 on Monday. AllianceBernstein Holding L.P. has a 1-year low of $30.57 and a 1-year high of $41.37. The stock has a market cap of $4.21 billion, a P/E ratio of 9.83, a P/E/G ratio of 0.73 and a beta of 1.21. The stock’s fifty day simple moving average is $37.24 and its two-hundred day simple moving average is $36.03.

AllianceBernstein (NYSE:AB) last announced its quarterly earnings data on Thursday, February 6th. The asset manager reported $1.05 EPS 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, analysts forecast that AllianceBernstein Holding L.P. will post 3.48 earnings per share for the current fiscal year.

AllianceBernstein Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 13th. Shareholders of record on Tuesday, February 18th will be issued a dividend of $1.05 per share. This represents a $4.20 annualized dividend and a yield of 11.48%. This is a positive change from AllianceBernstein’s previous quarterly dividend of $0.77. The ex-dividend date of this dividend is Tuesday, February 18th. AllianceBernstein’s dividend payout ratio is 82.80%.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the company. Barclays lowered their price objective on AllianceBernstein from $39.00 to $36.00 and set an “equal weight” rating for the company in a research note on Monday, December 9th. Evercore ISI lifted their price objective 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 assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $42.40.

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.