Oppenheimer Asset Management Inc. Sells 24,617 Shares of British American Tobacco p.l.c. $BTI

Oppenheimer Asset Management Inc. decreased its holdings in British American Tobacco p.l.c. (NYSE:BTI) by 10.1% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 218,750 shares of the company’s stock after selling 24,617 shares during the period. Oppenheimer Asset Management Inc.’s holdings in British American Tobacco were worth $11,611,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. True Wealth Design LLC purchased a new position in British American Tobacco in the third quarter valued at about $29,000. Cary Street Partners Financial LLC acquired a new position in British American Tobacco in the 2nd quarter worth approximately $30,000. Salem Investment Counselors Inc. lifted its stake in British American Tobacco by 48.6% during the 3rd 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 period. Westside Investment Management Inc. boosted its holdings in shares of British American Tobacco by 100.0% in the 3rd quarter. Westside Investment Management Inc. now owns 782 shares of the company’s stock valued at $41,000 after acquiring an additional 391 shares during the last quarter. Finally, City Holding Co. acquired a new stake in shares of 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.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Weiss Ratings reissued a “hold (c+)” rating on shares of British American Tobacco in a report on Wednesday, January 21st. Citigroup reaffirmed a “buy” rating on shares of British American Tobacco in a report on Friday, November 28th. Morgan Stanley reiterated an “underweight” rating on shares of British American Tobacco in a research note on Wednesday, December 10th. Kepler Capital Markets initiated coverage on shares of British American Tobacco in a report on Friday, December 12th. They issued a “buy” rating for the company. Finally, Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of British American Tobacco in a research report on Friday, November 28th. Seven equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, British American Tobacco has an average rating of “Moderate Buy” and a consensus price target of $51.00.

British American Tobacco Price Performance

Shares of British American Tobacco stock opened at $61.20 on Tuesday. British American Tobacco p.l.c. has a twelve month low of $37.31 and a twelve month high of $63.03. The firm’s 50-day moving average price is $57.84 and its 200 day moving average price is $55.72. The company has a quick ratio of 0.55, a current ratio of 0.87 and a debt-to-equity ratio of 0.68.

British American Tobacco Company 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.