Bank of America Corp DE Sells 1,088,228 Shares of British American Tobacco p.l.c. (NYSE:BTI)

Bank of America Corp DE decreased its position in British American Tobacco p.l.c. (NYSE:BTI - Free Report) by 23.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,528,991 shares of the company's stock after selling 1,088,228 shares during the quarter. Bank of America Corp DE owned approximately 0.17% of British American Tobacco worth $128,173,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. SRS Capital Advisors Inc. boosted its stake in shares of British American Tobacco by 294.9% in the 4th quarter. SRS Capital Advisors Inc. now owns 703 shares of the company's stock valued at $26,000 after purchasing an additional 525 shares in the last quarter. Kohmann Bosshard Financial Services LLC acquired a new stake in shares of British American Tobacco in the 4th quarter valued at $27,000. Cullen Frost Bankers Inc. boosted its stake in shares of British American Tobacco by 334.4% in the 4th quarter. Cullen Frost Bankers Inc. now owns 1,099 shares of the company's stock valued at $40,000 after purchasing an additional 846 shares in the last quarter. ORG Partners LLC boosted its stake in shares of British American Tobacco by 35.1% in the 4th quarter. ORG Partners LLC now owns 1,151 shares of the company's stock valued at $42,000 after purchasing an additional 299 shares in the last quarter. Finally, Kieckhefer Group LLC acquired a new stake in shares of British American Tobacco in the 4th quarter valued at $44,000. Institutional investors own 16.16% of the company's stock.

Analyst Ratings Changes

Several brokerages recently issued reports on BTI. Bank of America began coverage on shares of British American Tobacco in a research report on Wednesday, April 30th. They set a "buy" rating on the stock. StockNews.com upgraded shares of British American Tobacco from a "hold" rating to a "buy" rating in a research report on Monday, February 17th. Finally, UBS Group upgraded shares of British American Tobacco from a "neutral" rating to a "buy" rating in a research report on Monday, January 27th. One analyst has rated the stock with a sell rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, British American Tobacco presently has a consensus rating of "Moderate Buy" and a consensus target price of $33.00.

British American Tobacco Trading Up 2.6%

NYSE:BTI traded up $1.09 on Friday, hitting $42.46. 6,017,494 shares of the stock were exchanged, compared to its average volume of 4,879,195. The stock has a market capitalization of $87.88 billion, a price-to-earnings ratio of 8.71 and a beta of 0.32. British American Tobacco p.l.c. has a 52 week low of $30.01 and a 52 week high of $44.78. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.58 and a current ratio of 0.76. The company's 50-day moving average price is $41.62 and its 200 day moving average price is $38.99.

British American Tobacco Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, February 9th. Shareholders of record on Tuesday, December 30th will be issued a dividend of $0.7391 per share. The ex-dividend date is Tuesday, December 30th. This represents a $2.96 annualized dividend and a yield of 6.96%. British American Tobacco's dividend payout ratio is currently 60.57%.

British American Tobacco Company Profile

British American Tobacco p.l.c. engages in the provision of tobacco and nicotine products to consumers worldwide. It also offers vapour, heated, and modern oral nicotine products; combustible cigarettes; and traditional oral products, such as snus and moist snuff. The company offers its products under the Vuse, glo, Velo, Grizzly, Kodiak, Dunhill, Kent, Lucky Strike, Pall Mall, Rothmans, Camel, Natural American Spirit, Newport, Vogue, Viceroy, Kool, Peter Stuyvesant, Craven A, State Express 555 and Shuang Xi brands.