British American Tobacco p.l.c. (NYSE:BTI) Shares Sold by ABC Arbitrage SA

Key Points

• ABC Arbitrage SA reduced its holdings in British American Tobacco p.l.c. by 47.0%, making it the company's third-largest position with approximately 3.5% of their investment portfolio.
• Several hedge funds increased their stakes in British American Tobacco during the fourth quarter, with Capital International Investors acquiring an additional 5.67 million shares, raising their total to nearly $1.41 billion.
• British American Tobacco's dividend yield is significantly high at 599.0%, with a recent declaration of a $0.7391 dividend to be paid on August 6th to shareholders of record on June 30th.

ABC Arbitrage SA trimmed its position in British American Tobacco p.l.c. (NYSE:BTI - Free Report) by 47.0% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 459,137 shares of the company's stock after selling 407,592 shares during the period. British American Tobacco makes up about 3.5% of ABC Arbitrage SA's portfolio, making the stock its 3rd largest holding. ABC Arbitrage SA's holdings in British American Tobacco were worth $18,994,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Golden State Wealth Management LLC lifted its holdings in shares of British American Tobacco by 100.0% in the first quarter. Golden State Wealth Management LLC now owns 610 shares of the company's stock valued at $25,000 after purchasing an additional 305 shares in the last quarter. Rosenberg Matthew Hamilton lifted its holdings in shares of British American Tobacco by 87.0% in the first quarter. Rosenberg Matthew Hamilton now owns 602 shares of the company's stock valued at $25,000 after purchasing an additional 280 shares in the last quarter. Ameriflex Group Inc. purchased a new stake in shares of British American Tobacco in the fourth quarter valued at $26,000. Financial Management Professionals Inc. lifted its holdings in shares of British American Tobacco by 78.5% in the first quarter. Financial Management Professionals Inc. now owns 632 shares of the company's stock valued at $26,000 after purchasing an additional 278 shares in the last quarter. Finally, Mather Group LLC. lifted its holdings in shares of British American Tobacco by 292.7% in the first quarter. Mather Group LLC. now owns 644 shares of the company's stock valued at $27,000 after purchasing an additional 480 shares in the last quarter. 16.16% of the stock is currently owned by institutional investors and hedge funds.

British American Tobacco Stock Up 1.0%

British American Tobacco stock traded up $0.56 during mid-day trading on Friday, hitting $57.25. 4,444,324 shares of the company's stock were exchanged, compared to its average volume of 5,929,268. The company has a current ratio of 0.87, a quick ratio of 0.55 and a debt-to-equity ratio of 0.68. The stock has a market cap of $117.92 billion, a P/E ratio of 11.76, a P/E/G ratio of 2.23 and a beta of 0.38. British American Tobacco p.l.c. has a 1-year low of $34.17 and a 1-year high of $57.29. The stock has a 50 day moving average of $50.26 and a two-hundred day moving average of $44.34.

British American Tobacco Cuts Dividend

The firm also recently announced a dividend, which was paid on Wednesday, August 6th. Shareholders of record on Monday, June 30th were given a dividend of $0.7391 per share. This represents a yield of 599.0%. The ex-dividend date of this dividend was Friday, June 27th. British American Tobacco's dividend payout ratio is presently 64.68%.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. Wall Street Zen lowered British American Tobacco from a "buy" rating to a "hold" rating in a report on Saturday, July 26th. Barclays reaffirmed an "overweight" rating on shares of British American Tobacco in a research note on Friday, June 13th. Jefferies Financial Group initiated coverage on shares of British American Tobacco in a research note on Wednesday, July 9th. They issued a "buy" rating on the stock. Finally, Bank of America initiated coverage on shares of British American Tobacco in a research note on Wednesday, April 30th. They issued a "buy" rating on the stock. One research analyst has rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $33.00.

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.