Assetmark Inc. Trims Stake in British American Tobacco p.l.c. (NYSE:BTI)

Assetmark Inc. lowered its stake in British American Tobacco p.l.c. (NYSE:BTI - Free Report) by 7.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 143,499 shares of the company's stock after selling 10,735 shares during the period. Assetmark Inc.'s holdings in British American Tobacco were worth $5,937,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the business. O Shaughnessy Asset Management LLC grew its holdings in shares of British American Tobacco by 1.6% during the 4th quarter. O Shaughnessy Asset Management LLC now owns 493,451 shares of the company's stock worth $17,922,000 after acquiring an additional 7,875 shares during the period. Arrowstreet Capital Limited Partnership grew its holdings in shares of British American Tobacco by 24.4% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 6,094,244 shares of the company's stock worth $221,343,000 after acquiring an additional 1,196,020 shares during the period. BNP Paribas Financial Markets grew its holdings in shares of British American Tobacco by 21.8% during the 4th quarter. BNP Paribas Financial Markets now owns 82,029 shares of the company's stock worth $2,979,000 after acquiring an additional 14,655 shares during the period. Consolidated Portfolio Review Corp purchased a new position in shares of British American Tobacco during the 1st quarter worth approximately $375,000. Finally, Oppenheimer Asset Management Inc. grew its stake in shares of British American Tobacco by 12.0% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 233,271 shares of the company's stock worth $9,650,000 after buying an additional 24,962 shares during the last quarter. Hedge funds and other institutional investors own 16.16% of the company's stock.

British American Tobacco Stock Performance

Shares of NYSE BTI traded up $0.47 during midday trading on Wednesday, hitting $53.24. 7,780,181 shares of the stock traded hands, compared to its average volume of 5,832,234. The firm has a 50-day moving average of $48.60 and a two-hundred day moving average of $43.32. The firm has a market capitalization of $109.82 billion, a P/E ratio of 10.93, a PEG ratio of 4.79 and a beta of 0.33. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.52 and a current ratio of 0.76. British American Tobacco p.l.c. has a one year low of $34.12 and a one year high of $53.48.

British American Tobacco Cuts Dividend

The company also recently declared a dividend, which will be paid on Wednesday, August 6th. Stockholders of record on Monday, June 30th will be issued a dividend of $0.7391 per share. The ex-dividend date of this dividend is Friday, June 27th. This represents a dividend yield of 5.99%. British American Tobacco's payout ratio is 60.78%.

Analysts Set New Price Targets

BTI has been the subject of a number of recent research reports. Wall Street Zen cut British American Tobacco from a "buy" rating to a "hold" rating in a research note on Saturday. Barclays reiterated an "overweight" rating on shares of British American Tobacco in a research note on Friday, June 13th. Jefferies Financial Group initiated coverage on British American Tobacco in a research report on Wednesday, July 9th. They issued a "buy" rating on the stock. Finally, Bank of America initiated coverage on British American Tobacco in a research report on Wednesday, April 30th. They issued a "buy" rating on the stock. One equities 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. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average 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.