Assetmark Inc. Purchases 82,219 Shares of British American Tobacco p.l.c. $BTI

Key Points

• Assetmark Inc. increased its British American Tobacco stake by 14.7% in the first quarter, buying 82,219 additional shares and bringing its total holdings to 640,106 shares worth about $37.4 million.
• Other institutional investors also adjusted positions in BTI, and hedge funds and institutions now own 16.16% of the stock overall.
• BTI shares were down 0.4% and traded at $62.89, while analysts currently hold a Moderate Buy consensus with a $51.00 price target.

Assetmark Inc. boosted its holdings in British American Tobacco p.l.c. (NYSE:BTI - Free Report) by 14.7% during the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 640,106 shares of the company's stock after purchasing 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 quarter.

Several other institutional investors have also added to or reduced their stakes in the business. First Command Advisory Services Inc. boosted its stake in shares of British American Tobacco by 1,386.7% in the 4th quarter. First Command Advisory Services Inc. now owns 446 shares of the company's stock worth $25,000 after buying an additional 416 shares during the last quarter. Glen Eagle Advisors LLC bought a new position in British American Tobacco in the fourth quarter valued at about $26,000. Cary Street Partners Financial LLC bought a new stake in shares of British American Tobacco during the 2nd quarter valued at about $30,000. SHP Wealth Management bought a new stake in shares of British American Tobacco during the 4th quarter valued at about $35,000. Finally, Cornerstone Planning Group LLC increased its position in shares of British American Tobacco by 141.2% during the 4th quarter. Cornerstone Planning Group LLC now owns 591 shares of the company's stock valued at $36,000 after purchasing an additional 346 shares during the last quarter. 16.16% of the stock is currently owned by hedge funds and other institutional investors.

British American Tobacco Trading Down 0.4%

Shares of BTI stock opened at $62.89 on Friday. The stock's 50-day moving average is $61.88 and its 200 day moving average is $59.82. British American Tobacco p.l.c. has a 1-year low of $49.88 and a 1-year high of $67.30. The company has a quick ratio of 0.57, a current ratio of 0.87 and a debt-to-equity ratio of 0.66.

Analyst Ratings Changes

A number of analysts have recently issued reports on BTI shares. Morgan Stanley reissued an "overweight" rating on shares of British American Tobacco in a research note on Monday, June 8th. Wall Street Zen downgraded British American Tobacco from a "buy" rating to a "hold" rating in a research note 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 report on Wednesday, June 3rd. Finally, Citigroup restated a "buy" rating on shares of British American Tobacco in a report on Thursday, May 14th. Six investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target 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.

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