Assetmark Inc. Increases Stake in British American Tobacco p.l.c. $BTI

Assetmark Inc. boosted its holdings in shares of British American Tobacco p.l.c. (NYSE:BTI) by 14.7% in the 1st quarter, Holdings Channel reports. The fund owned 640,106 shares of the company’s stock after acquiring an additional 82,219 shares during the quarter. Assetmark Inc.’s holdings in British American Tobacco were worth $37,427,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Capital International Investors boosted its holdings in British American Tobacco by 0.5% in the 4th quarter. Capital International Investors now owns 64,389,481 shares of the company’s stock valued at $3,645,500,000 after purchasing an additional 332,062 shares during the last quarter. Capital Research Global Investors boosted its stake in British American Tobacco by 1.2% during the fourth quarter. Capital Research Global Investors now owns 22,333,402 shares of the company’s stock worth $1,264,512,000 after buying an additional 264,511 shares during the period. Orbis Allan Gray Ltd increased its position in shares of British American Tobacco by 20.7% during the second quarter. Orbis Allan Gray Ltd now owns 14,503,968 shares of the company’s stock valued at $686,473,000 after acquiring an additional 2,482,737 shares during the last quarter. Capital World Investors raised its stake in shares of British American Tobacco by 0.5% in the 4th quarter. Capital World Investors now owns 9,518,567 shares of the company’s stock valued at $538,935,000 after acquiring an additional 47,858 shares during the period. Finally, Bank of America Corp DE lifted its holdings in shares of British American Tobacco by 29.5% in the 3rd quarter. Bank of America Corp DE now owns 6,934,792 shares of the company’s stock worth $368,099,000 after acquiring an additional 1,578,860 shares during the last quarter. 16.16% of the stock is currently owned by institutional investors and hedge funds.

British American Tobacco Price Performance

NYSE:BTI opened at $62.89 on Friday. The company has a current ratio of 0.87, a quick ratio of 0.57 and a debt-to-equity ratio of 0.66. British American Tobacco p.l.c. has a one year low of $49.88 and a one year high of $67.30. The stock has a 50-day simple moving average of $61.88 and a 200 day simple moving average of $59.82.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on BTI. Citigroup reaffirmed a “buy” rating on shares of British American Tobacco in a research report on Thursday, May 14th. Morgan Stanley reissued an “overweight” rating on shares of British American Tobacco in a report on Monday, June 8th. Weiss Ratings upgraded shares of British American Tobacco from a “buy (b-)” rating to a “buy (b)” rating in a report on Wednesday, June 3rd. Finally, Wall Street Zen cut British American Tobacco from a “buy” rating to a “hold” rating in a research report on Saturday, June 13th. Six research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus 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.