British American Tobacco p.l.c. $BTI Holdings Boosted by NewEdge Wealth LLC

NewEdge Wealth LLC raised its position in shares of British American Tobacco p.l.c. (NYSE:BTI) by 21.5% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 71,295 shares of the company’s stock after purchasing an additional 12,599 shares during the quarter. NewEdge Wealth LLC’s holdings in British American Tobacco were worth $4,169,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of BTI. First Command Advisory Services Inc. grew its holdings in shares of British American Tobacco by 1,386.7% during the fourth quarter. First Command Advisory Services Inc. now owns 446 shares of the company’s stock valued at $25,000 after buying an additional 416 shares in the last quarter. Glen Eagle Advisors LLC purchased a new stake in British American Tobacco in the 4th quarter worth about $26,000. Cornerstone Planning Group LLC boosted its position in British American Tobacco by 141.2% during the 4th quarter. Cornerstone Planning Group LLC now owns 591 shares of the company’s stock worth $36,000 after acquiring an additional 346 shares during the period. SHP Wealth Management purchased a new position in British American Tobacco during the 4th quarter valued at about $35,000. Finally, Cary Street Partners Financial LLC acquired a new position in shares of British American Tobacco in the 2nd quarter valued at about $30,000. Hedge funds and other institutional investors own 16.16% of the company’s stock.

British American Tobacco Stock Up 1.8%

Shares of NYSE:BTI opened at $60.89 on Friday. The company has a quick ratio of 0.57, a current ratio of 0.87 and a debt-to-equity ratio of 0.66. The stock’s 50-day moving average is $61.60 and its 200-day moving average is $59.98. British American Tobacco p.l.c. has a 52-week low of $49.88 and a 52-week high of $67.30.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. Morgan Stanley reiterated an “overweight” rating on shares of British American Tobacco in a research report on Monday, June 8th. BTIG Research assumed coverage on shares of British American Tobacco in a research note on Tuesday. They issued a “buy” rating on the stock. Citigroup reissued a “buy” rating on shares of British American Tobacco in a research report on Thursday, May 14th. Wall Street Zen downgraded British American Tobacco from a “buy” rating to a “hold” rating in a research note on Saturday, June 13th. Finally, Weiss Ratings raised British American Tobacco from a “buy (b-)” rating to a “buy (b)” rating in a research report on Wednesday, June 3rd. Seven equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average 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.