Alpine Associates Management Inc. lessened its stake in shares of Reynolds American, Inc. (NYSE:RAI) by 8.2% during the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 3,523,676 shares of the company’s stock after selling 315,100 shares during the quarter. Reynolds American makes up 4.6% of Alpine Associates Management Inc.’s holdings, making the stock its 3rd biggest holding. Alpine Associates Management Inc.’s holdings in Reynolds American were worth $229,180,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Glassman Wealth Services grew its stake in shares of Reynolds American by 0.8% during the second quarter. Glassman Wealth Services now owns 1,568 shares of the company’s stock worth $102,000 after buying an additional 12 shares during the last quarter. Oppenheimer Asset Management Inc. grew its stake in shares of Reynolds American by 2.5% during the second quarter. Oppenheimer Asset Management Inc. now owns 1,569 shares of the company’s stock worth $102,000 after buying an additional 39 shares during the last quarter. Shine Investment Advisory Services Inc. bought a new stake in shares of Reynolds American during the second quarter worth $119,000. Motco grew its stake in shares of Reynolds American by 549.7% during the second quarter. Motco now owns 1,962 shares of the company’s stock worth $128,000 after buying an additional 1,660 shares during the last quarter. Finally, Parallel Advisors LLC grew its stake in shares of Reynolds American by 21.2% during the first quarter. Parallel Advisors LLC now owns 3,065 shares of the company’s stock worth $198,000 after buying an additional 537 shares during the last quarter. 46.34% of the stock is currently owned by hedge funds and other institutional investors.

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Several brokerages recently weighed in on RAI. Jefferies Group LLC set a $60.00 price objective on shares of Reynolds American and gave the stock a “hold” rating in a research note on Friday, August 25th. Cowen and Company reissued a “hold” rating and issued a $65.00 price objective on shares of Reynolds American in a research note on Tuesday, July 11th. BidaskClub cut shares of Reynolds American from a “buy” rating to a “hold” rating in a research note on Tuesday, June 27th. Vetr raised shares of Reynolds American from a “buy” rating to a “strong-buy” rating and set a $73.00 price objective on the stock in a research note on Monday, June 12th. Finally, Piper Jaffray Companies began coverage on shares of Reynolds American in a research note on Thursday, May 25th. They issued a “neutral” rating and a $67.00 price objective on the stock. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating, one has given a buy rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $59.82.

Shares of Reynolds American, Inc. (NYSE:RAI) traded down 2.23% during mid-day trading on Wednesday, reaching $65.40. 159,452,032 shares of the company’s stock were exchanged. Reynolds American, Inc. has a one year low of $43.38 and a one year high of $67.81. The company has a 50 day moving average price of $65.25 and a 200-day moving average price of $64.00.

Reynolds American Profile

Reynolds American Inc (RAI) is a holding company. The Company’s segments include RJR Tobacco, which consists of the primary operations of its subsidiary, R. J. Reynolds Tobacco Company; Santa Fe, which consists of the primary operations of its subsidiary, Santa Fe Natural Tobacco Company, Inc, and American Snuff, which consists of the primary operations of its subsidiary, American Snuff Company, LLC.

Institutional Ownership by Quarter for Reynolds American (NYSE:RAI)

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