49 Wealth Management LLC Has $527,000 Holdings in British American Tobacco p.l.c. $BTI

49 Wealth Management LLC decreased its holdings in shares of British American Tobacco p.l.c. (NYSE:BTI) by 51.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 9,937 shares of the company’s stock after selling 10,409 shares during the quarter. 49 Wealth Management LLC’s holdings in British American Tobacco were worth $527,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the stock. Zions Bancorporation National Association UT lifted its stake in shares of British American Tobacco by 46,488.4% in the 2nd quarter. Zions Bancorporation National Association UT now owns 173,309 shares of the company’s stock valued at $8,203,000 after acquiring an additional 172,937 shares during the last quarter. WCM Investment Management LLC acquired a new position in British American Tobacco in the 3rd quarter worth about $1,612,000. Lockheed Martin Investment Management Co. raised its position in British American Tobacco by 44.3% in the third quarter. Lockheed Martin Investment Management Co. now owns 421,800 shares of the company’s stock valued at $22,389,000 after purchasing an additional 129,500 shares during the last quarter. Truist Financial Corp boosted its stake in shares of British American Tobacco by 6.0% during the third quarter. Truist Financial Corp now owns 427,284 shares of the company’s stock valued at $22,680,000 after purchasing an additional 24,114 shares in the last quarter. Finally, AdvisorShares Investments LLC grew its holdings in shares of British American Tobacco by 252.5% during the third quarter. AdvisorShares Investments LLC now owns 24,846 shares of the company’s stock worth $1,319,000 after purchasing an additional 17,798 shares during the last quarter. 16.16% of the stock is currently owned by institutional investors and hedge funds.

British American Tobacco Stock Down 0.0%

Shares of NYSE:BTI opened at $62.66 on Friday. British American Tobacco p.l.c. has a 1 year low of $37.96 and a 1 year high of $63.22. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.87 and a quick ratio of 0.57. The business’s 50-day moving average is $58.81 and its 200-day moving average is $56.29.

British American Tobacco Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, February 8th. Shareholders of record on Tuesday, December 29th will be issued a dividend of $0.8349 per share. This represents a $3.34 dividend on an annualized basis and a dividend yield of 5.3%. The ex-dividend date is Tuesday, December 29th.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on BTI. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of British American Tobacco in a 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 research note on Tuesday, February 17th. Kepler Capital Markets initiated coverage on shares of British American Tobacco in a research note on Friday, December 12th. They issued a “buy” rating on the stock. Citigroup restated a “buy” rating on shares of British American Tobacco in a report on Friday, November 28th. Finally, Morgan Stanley reaffirmed an “underweight” rating on shares of British American Tobacco in a research report on Wednesday, December 10th. Eight investment analysts have rated the stock with a Buy rating and two have given a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $51.00.

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.