WT Asset Management Ltd Sells 754,700 Shares of British American Tobacco p.l.c. $BTI

WT Asset Management Ltd trimmed 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 filing with the Securities and Exchange Commission (SEC). The firm 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 large investors also recently added to or reduced their stakes in BTI. True Wealth Design LLC bought a new position in British American Tobacco in the 3rd quarter worth about $29,000. Cary Street Partners Financial LLC purchased a new position in shares of British American Tobacco during the second quarter worth about $30,000. Salem Investment Counselors Inc. increased its position in shares of British American Tobacco by 48.6% in the third quarter. Salem Investment Counselors Inc. now owns 633 shares of the company’s stock worth $34,000 after purchasing an additional 207 shares during the last quarter. Westside Investment Management Inc. lifted its position in British American Tobacco by 100.0% during the third quarter. Westside Investment Management Inc. now owns 782 shares of the company’s stock valued at $41,000 after purchasing an additional 391 shares during the last quarter. Finally, City Holding Co. purchased a new position in British American Tobacco in the 3rd quarter worth approximately $42,000. Institutional investors own 16.16% of the company’s stock.

British American Tobacco Stock Performance

Shares of BTI traded up $0.77 during mid-day trading on Friday, hitting $61.76. 737,226 shares of the company’s stock traded hands, compared to its average volume of 4,691,292. 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 price is $58.17 and its 200-day moving average price is $56.06. British American Tobacco p.l.c. has a 1 year low of $37.31 and a 1 year high of $63.03.

British American Tobacco Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, February 8th. Stockholders of record on Tuesday, December 29th will be given a $0.8349 dividend. This represents a $3.34 annualized dividend and a dividend yield of 5.4%. The ex-dividend date of this dividend is Tuesday, December 29th.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. Citigroup reiterated a “buy” rating on shares of British American Tobacco in a research report on Friday, November 28th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of British American Tobacco in a report on Friday, November 28th. Weiss Ratings upgraded British American Tobacco from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Tuesday. Morgan Stanley reiterated an “underweight” rating on shares of British American Tobacco in a research report on Wednesday, December 10th. Finally, Kepler Capital Markets started coverage on shares of British American Tobacco in a research note on Friday, December 12th. They issued a “buy” rating for the company. Eight research analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, British American Tobacco has an average rating of “Moderate Buy” and an average price target of $51.00.

About British American Tobacco

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.