WT Asset Management Ltd Cuts Stock Holdings in British American Tobacco p.l.c. $BTI

WT Asset Management Ltd lowered its position in British American Tobacco p.l.c. (NYSE:BTI) by 94.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 45,000 shares of the company’s stock after selling 754,700 shares during the period. WT Asset Management Ltd’s holdings in British American Tobacco were worth $2,389,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in BTI. True Wealth Design LLC purchased a new stake in British American Tobacco in the 3rd quarter valued at about $29,000. Cary Street Partners Financial LLC bought a new position in shares of British American Tobacco in the second quarter valued at approximately $30,000. Salem Investment Counselors Inc. increased its position in shares of British American Tobacco by 48.6% during the third quarter. Salem Investment Counselors Inc. now owns 633 shares of the company’s stock valued at $34,000 after acquiring an additional 207 shares during the last quarter. Westside Investment Management Inc. lifted its holdings in British American Tobacco by 100.0% during the third quarter. Westside Investment Management Inc. now owns 782 shares of the company’s stock worth $41,000 after acquiring an additional 391 shares during the period. Finally, City Holding Co. purchased a new position in British American Tobacco in the third quarter worth $42,000. 16.16% of the stock is currently owned by hedge funds and other institutional investors.

British American Tobacco Price Performance

BTI traded up $0.77 on Friday, hitting $61.76. The company’s stock had a trading volume of 737,226 shares, compared to its average volume of 4,691,292. The company’s 50 day simple moving average is $58.17 and its 200-day simple moving average is $56.06. The company has a quick ratio of 0.57, a current ratio of 0.87 and a debt-to-equity ratio of 0.66. British American Tobacco p.l.c. has a 12 month low of $37.31 and a 12 month high of $63.03.

British American Tobacco Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, February 8th. Investors of record on Tuesday, December 29th will be issued a dividend of $0.8349 per share. The ex-dividend date of this dividend is Tuesday, December 29th. This represents a $3.34 dividend on an annualized basis and a yield of 5.4%.

Analyst Upgrades and Downgrades

BTI has been the topic of a number of recent analyst reports. Morgan Stanley reiterated an “underweight” rating on shares of British American Tobacco in a research note on Wednesday, December 10th. Kepler Capital Markets started coverage on shares of British American Tobacco in a research report on Friday, December 12th. They issued a “buy” rating on the stock. Deutsche Bank Aktiengesellschaft reissued a “buy” rating on shares of British American Tobacco in a research report on Friday, November 28th. Weiss Ratings raised shares of British American Tobacco from a “hold (c+)” rating to a “buy (b-)” rating in a report on Tuesday. Finally, Citigroup reissued a “buy” rating on shares of British American Tobacco in a report on Friday, November 28th. Eight analysts have rated the stock with a Buy rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $51.00.

British American Tobacco Profile

British American Tobacco plc (BTI) is a multinational tobacco manufacturer and nicotine products company headquartered in London. Founded in 1902 as a joint venture to commercialize tobacco products outside the United States, the company has grown into one of the world’s largest tobacco firms with a long history in manufacturing and global distribution of combustible tobacco products.

BAT’s core business remains the manufacture and sale of cigarettes and other tobacco products under a portfolio of well-known consumer brands, including Dunhill, Lucky Strike, Pall Mall, Kent and Rothmans.