NewEdge Wealth LLC Purchases 12,599 Shares of British American Tobacco p.l.c. $BTI

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

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

Analyst Ratings Changes

Several brokerages have recently weighed in on BTI. Citigroup reiterated a “buy” rating on shares of British American Tobacco in a research report on Thursday, May 14th. Wall Street Zen lowered shares of British American Tobacco from a “buy” rating to a “hold” rating in a research report on Saturday, June 13th. Weiss Ratings upgraded shares of British American Tobacco from a “buy (b-)” rating to a “buy (b)” rating in a research note on Wednesday, June 3rd. Morgan Stanley reaffirmed an “overweight” rating on shares of British American Tobacco in a report on Monday, June 8th. Finally, BTIG Research initiated coverage on British American Tobacco in a research note on Tuesday. They issued a “buy” rating on the stock. Seven analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, British American Tobacco currently has an average rating of “Moderate Buy” and an average target price of $51.00.

British American Tobacco Trading Up 1.8%

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 firm’s 50-day simple moving average is $61.60 and its 200-day simple moving average is $59.98. British American Tobacco p.l.c. has a twelve month low of $49.88 and a twelve month high of $67.30.

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.