Alliancebernstein L.P. Sells 107,017 Shares of Autoliv, Inc. $ALV

Key Points

• Alliancebernstein L.P. has reduced its stake in Autoliv, Inc. by 29.6%, selling 107,017 shares and owning 254,330 shares worth approximately $22.5 million.
• Autoliv reported better-than-expected quarterly earnings with an EPS of $2.21, beating estimates by $0.14, and had quarterly revenue of $2.71 billion.
• The company has authorized a $2.5 billion share repurchase plan to buy back up to 31.3% of its outstanding shares, indicating management's belief that the stock is undervalued.

Alliancebernstein L.P. cut its stake in shares of Autoliv, Inc. (NYSE:ALV - Free Report) by 29.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 254,330 shares of the auto parts company's stock after selling 107,017 shares during the period. Alliancebernstein L.P. owned 0.33% of Autoliv worth $22,495,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. GAMMA Investing LLC increased its position in shares of Autoliv by 122.9% during the first quarter. GAMMA Investing LLC now owns 370 shares of the auto parts company's stock valued at $33,000 after buying an additional 204 shares during the period. Summit Securities Group LLC bought a new stake in shares of Autoliv during the first quarter valued at about $1,029,000. SG Americas Securities LLC bought a new position in shares of Autoliv in the first quarter worth approximately $637,000. Impax Asset Management Group plc raised its stake in Autoliv by 11.9% in the first quarter. Impax Asset Management Group plc now owns 84,358 shares of the auto parts company's stock valued at $7,461,000 after purchasing an additional 8,953 shares in the last quarter. Finally, Asset Management One Co. Ltd. raised its stake in Autoliv by 7.3% in the first quarter. Asset Management One Co. Ltd. now owns 75,591 shares of the auto parts company's stock valued at $6,686,000 after purchasing an additional 5,137 shares in the last quarter. 69.57% of the stock is currently owned by institutional investors.

Autoliv Stock Down 0.3%

Shares of NYSE ALV opened at $125.37 on Thursday. Autoliv, Inc. has a one year low of $75.49 and a one year high of $127.17. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.93 and a quick ratio of 0.70. The firm's 50 day simple moving average is $118.23 and its two-hundred day simple moving average is $104.13. The stock has a market capitalization of $9.63 billion, a P/E ratio of 13.72, a PEG ratio of 1.30 and a beta of 1.35.

Autoliv (NYSE:ALV - Get Free Report) last issued its quarterly earnings results on Friday, July 18th. The auto parts company reported $2.21 EPS for the quarter, beating analysts' consensus estimates of $2.07 by $0.14. Autoliv had a net margin of 6.83% and a return on equity of 30.73%. The business had revenue of $2.71 billion for the quarter, compared to analysts' expectations of $2.57 billion. During the same period last year, the business earned $1.87 earnings per share. The business's quarterly revenue was up 4.2% on a year-over-year basis. As a group, analysts expect that Autoliv, Inc. will post 9.51 EPS for the current fiscal year.

Autoliv declared that its Board of Directors has approved a share repurchase plan on Wednesday, June 4th that allows the company to buyback $2.50 billion in outstanding shares. This buyback authorization allows the auto parts company to purchase up to 31.3% of its stock through open market purchases. Stock buyback plans are typically a sign that the company's board of directors believes its shares are undervalued.

Analyst Ratings Changes

ALV has been the topic of a number of recent analyst reports. Royal Bank Of Canada initiated coverage on shares of Autoliv in a research note on Wednesday, June 25th. They issued an "outperform" rating and a $133.00 target price on the stock. Mizuho raised their target price on shares of Autoliv from $95.00 to $112.00 and gave the company an "outperform" rating in a research note on Friday, May 16th. UBS Group raised their target price on shares of Autoliv from $103.00 to $123.00 and gave the company a "buy" rating in a research note on Wednesday, May 28th. Robert W. Baird lowered their target price on shares of Autoliv from $126.00 to $124.00 and set a "neutral" rating on the stock in a research note on Monday, July 21st. Finally, Jefferies Financial Group initiated coverage on shares of Autoliv in a research note on Wednesday, July 2nd. They issued a "buy" rating and a $140.00 target price on the stock. Two equities research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $122.92.

Autoliv Company Profile

Autoliv, Inc, through its subsidiaries, develops, manufactures, and supplies passive safety systems to the automotive industry in Europe, the Americas, China, Japan, and rest of Asia. It offers passive safety systems, including modules and components for frontal-impact airbag protection systems, side-impact airbag protection systems, seatbelts, steering wheels, and inflator technologies.

Want to see what other hedge funds are holding ALV? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Autoliv, Inc. (NYSE:ALV - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.