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

Peapack Gladstone Financial Corp lessened its holdings in AT&T Inc. (NYSE:T) by 6.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 220,334 shares of the technology company’s stock after selling 15,675 shares during the quarter. Peapack Gladstone Financial Corp’s holdings in AT&T were worth $5,018,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in T. 1620 Investment Advisors Inc. grew its position in shares of AT&T by 1.6% in the 4th quarter. 1620 Investment Advisors Inc. now owns 26,161 shares of the technology company’s stock valued at $596,000 after buying an additional 421 shares during the last quarter. Tradewinds Capital Management LLC boosted its holdings in AT&T by 48.6% in the fourth quarter. Tradewinds Capital Management LLC now owns 1,314 shares of the technology company’s stock valued at $30,000 after acquiring an additional 430 shares during the last quarter. Whittier Trust Co. increased its position in AT&T by 0.7% during the 4th quarter. Whittier Trust Co. now owns 59,394 shares of the technology company’s stock valued at $1,352,000 after purchasing an additional 433 shares during the period. Wealthstream Advisors Inc. increased its position in AT&T by 3.7% during the 4th quarter. Wealthstream Advisors Inc. now owns 12,383 shares of the technology company’s stock valued at $282,000 after purchasing an additional 444 shares during the period. Finally, Northeast Investment Management raised its holdings in AT&T by 0.9% during the 4th quarter. Northeast Investment Management now owns 51,198 shares of the technology company’s stock worth $1,166,000 after purchasing an additional 451 shares during the last quarter. 57.10% of the stock is currently owned by institutional investors and hedge funds.

AT&T Stock Down 6.8 %

T stock opened at $26.65 on Monday. The firm has a market capitalization 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 company has a quick ratio of 0.62, a current ratio of 0.66 and a debt-to-equity ratio of 1.00. AT&T Inc. has a twelve month low of $15.94 and a twelve month high of $29.03. The stock’s 50 day moving average is $26.26 and its 200-day moving average is $23.76.

AT&T (NYSE:T) last issued 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%. Sell-side analysts expect that AT&T Inc. will post 2.14 EPS for the current fiscal year.

AT&T Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Investors of record on Thursday, April 10th will be issued a dividend of $0.2775 per share. This represents a $1.11 annualized dividend and a yield of 4.17%. The ex-dividend date of this dividend is Thursday, April 10th. AT&T’s dividend payout ratio (DPR) is presently 74.50%.

Analyst Ratings Changes

Several research firms have recently weighed in on T. Scotiabank increased their price objective on shares of AT&T from $26.00 to $28.50 and gave the stock a “sector outperform” rating in a research report on Monday, March 3rd. Sanford C. Bernstein increased their price target on AT&T from $28.00 to $29.00 and gave the stock an “outperform” rating in a report on Tuesday, January 28th. BNP Paribas raised AT&T from a “neutral” rating to an “outperform” rating and set a $28.50 price objective on the stock in a research note on Thursday, February 13th. DZ Bank raised AT&T from a “hold” rating to a “buy” rating and set a $27.00 target price for the company in a research note on Wednesday, January 29th. Finally, Morgan Stanley raised AT&T from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $19.00 to $28.00 in a research note on Monday, December 16th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, AT&T currently has a consensus rating of “Moderate Buy” and a consensus target price of $27.21.

AT&T Company 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.