Peapack Gladstone Financial Corp Sells 15,675 Shares of AT&T Inc. (NYSE:T)

Peapack Gladstone Financial Corp trimmed its position in shares of AT&T Inc. (NYSE:T) by 6.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 220,334 shares of the technology company’s stock after selling 15,675 shares during the period. Peapack Gladstone Financial Corp’s holdings in AT&T were worth $5,018,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. International Assets Investment Management LLC acquired a new position in shares of AT&T during the 4th quarter worth approximately $14,700,000. Franklin Resources Inc. boosted its position in AT&T by 41.4% during the third quarter. Franklin Resources Inc. now owns 7,947,913 shares of the technology company’s stock worth $168,969,000 after purchasing an additional 2,326,904 shares during the period. Consolidated Planning Corp boosted its position in AT&T by 7.4% during the fourth quarter. Consolidated Planning Corp now owns 320,089 shares of the technology company’s stock worth $7,288,000 after purchasing an additional 21,927 shares during the period. World Investment Advisors increased its holdings in shares of AT&T by 36.4% in the fourth quarter. World Investment Advisors now owns 237,477 shares of the technology company’s stock valued at $5,407,000 after purchasing an additional 63,359 shares during the last quarter. Finally, Fortress Financial Solutions LLC bought a new position in shares of AT&T in the fourth quarter valued at about $691,000. 57.10% of the stock is owned by institutional investors.

AT&T Trading Down 6.8 %

Shares of T stock opened at $26.65 on Monday. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.62 and a current ratio of 0.66. AT&T Inc. has a fifty-two week low of $15.94 and a fifty-two week high of $29.03. The company has a market cap of $191.27 billion, a PE ratio of 17.88, a P/E/G ratio of 3.00 and a beta of 0.42. The stock’s fifty day moving average price is $26.26 and its two-hundred day moving average price is $23.76.

AT&T (NYSE:T) last released its quarterly earnings data on Monday, January 27th. The technology company reported $0.54 earnings per share for the quarter, beating the consensus estimate of $0.48 by $0.06. AT&T had a return on equity of 13.97% and a net margin of 8.95%. Equities analysts predict that AT&T Inc. will post 2.14 EPS for the current fiscal year.

AT&T Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 1st. Investors of record on Thursday, April 10th will be given a dividend of $0.2775 per share. This represents a $1.11 dividend on an annualized basis and a yield of 4.17%. The ex-dividend date is Thursday, April 10th. AT&T’s dividend payout ratio is 74.50%.

Analyst Ratings Changes

Several analysts recently commented on T shares. Scotiabank lifted their target price on shares of AT&T from $26.00 to $28.50 and gave the stock a “sector outperform” rating in a report on Monday, March 3rd. Morgan Stanley upgraded AT&T from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $19.00 to $28.00 in a report on Monday, December 16th. Sanford C. Bernstein upped their target price on AT&T from $28.00 to $29.00 and gave the company an “outperform” rating in a research report on Tuesday, January 28th. BNP Paribas raised AT&T from a “neutral” rating to an “outperform” rating and set a $28.50 price target for the company in a report on Thursday, February 13th. Finally, Citigroup upped their price objective on AT&T from $28.00 to $32.00 and gave the company a “buy” rating in a report on Monday, March 31st. One research analyst has rated the stock with a sell rating, five have given a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $27.21.

AT&T Profile

AT&T, Inc is a holding company, which engages in the provision of telecommunications and technology services. It operates through the Communications and Latin America segments. The Communications segment offers wireless, wireline telecom, and broadband services to businesses and consumers located in the US and businesses globally.