Belpointe Asset Management LLC Cuts Stock Position in British American Tobacco p.l.c. $BTI

Key Points

• Belpointe Asset Management LLC has reduced its stake in British American Tobacco p.l.c. by 23.5%, selling over 5,400 shares in the second quarter, leaving them with approximately $832,000 in holdings.
• Several other institutional investors have adjusted their positions in BTI, with NBC Securities Inc. growing its stake by a staggering 173,100% earlier this year.
• Analyst ratings for British American Tobacco are mixed, with five analysts labeling the stock as a Buy while others have rated it Hold or Sell, resulting in an average price target of $51.00.

Belpointe Asset Management LLC cut its holdings in shares of British American Tobacco p.l.c. (NYSE:BTI - Free Report) by 23.5% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 17,580 shares of the company's stock after selling 5,404 shares during the period. Belpointe Asset Management LLC's holdings in British American Tobacco were worth $832,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in BTI. NBC Securities Inc. grew its position in shares of British American Tobacco by 173,100.0% during the first quarter. NBC Securities Inc. now owns 1,732 shares of the company's stock worth $71,000 after buying an additional 1,731 shares in the last quarter. Merit Financial Group LLC acquired a new position in shares of British American Tobacco during the first quarter worth about $476,000. Patriot Financial Group Insurance Agency LLC acquired a new position in shares of British American Tobacco during the first quarter worth about $262,000. Park Avenue Securities LLC grew its position in shares of British American Tobacco by 0.7% during the first quarter. Park Avenue Securities LLC now owns 33,866 shares of the company's stock worth $1,401,000 after buying an additional 244 shares in the last quarter. Finally, Capital Investment Advisors LLC acquired a new position in shares of British American Tobacco during the first quarter worth about $222,000. 16.16% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

BTI has been the subject of a number of analyst reports. Jefferies Financial Group initiated coverage on British American Tobacco in a research report on Wednesday, July 9th. They set a "buy" rating for the company. Morgan Stanley reiterated an "underweight" rating and issued a $40.00 price target on shares of British American Tobacco in a research note on Friday, August 15th. Royal Bank Of Canada lowered shares of British American Tobacco from a "sector perform" rating to an "underperform" rating in a research note on Tuesday, September 2nd. Argus upgraded shares of British American Tobacco from a "hold" rating to a "buy" rating and set a $62.00 price target on the stock in a research note on Monday, September 8th. Finally, Weiss Ratings reiterated a "hold (c+)" rating on shares of British American Tobacco in a research note on Wednesday. Five analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $51.00.

British American Tobacco Price Performance

BTI stock opened at $51.59 on Thursday. The company has a market capitalization of $106.15 billion, a P/E ratio of 10.59, a PEG ratio of 3.60 and a beta of 0.42. British American Tobacco p.l.c. has a twelve month low of $34.17 and a twelve month high of $59.29. The business has a 50 day simple moving average of $55.49 and a 200-day simple moving average of $48.95. The company has a current ratio of 0.87, a quick ratio of 0.55 and a debt-to-equity ratio of 0.68.

British American Tobacco 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.

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