Investment Management Associates Inc. ADV Reduces Stock Holdings in British American Tobacco p.l.c. (NYSE:BTI)

Investment Management Associates Inc. ADV trimmed its holdings in shares of British American Tobacco p.l.c. (NYSE:BTI - Free Report) by 3.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 590,935 shares of the company's stock after selling 21,582 shares during the period. British American Tobacco comprises approximately 10.0% of Investment Management Associates Inc. ADV's investment portfolio, making the stock its 2nd largest holding. Investment Management Associates Inc. ADV's holdings in British American Tobacco were worth $24,447,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of BTI. Steward Partners Investment Advisory LLC boosted its stake in British American Tobacco by 40.4% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 7,755 shares of the company's stock worth $282,000 after purchasing an additional 2,231 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in British American Tobacco by 20.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 159,363 shares of the company's stock worth $5,788,000 after purchasing an additional 27,492 shares during the period. Independent Advisor Alliance boosted its stake in British American Tobacco by 9.0% in the 4th quarter. Independent Advisor Alliance now owns 19,551 shares of the company's stock worth $710,000 after purchasing an additional 1,614 shares during the period. Moors & Cabot Inc. increased its holdings in British American Tobacco by 0.4% during the 4th quarter. Moors & Cabot Inc. now owns 81,858 shares of the company's stock worth $2,973,000 after acquiring an additional 321 shares during the period. Finally, HighTower Advisors LLC increased its holdings in British American Tobacco by 5.5% during the 4th quarter. HighTower Advisors LLC now owns 189,961 shares of the company's stock worth $6,899,000 after acquiring an additional 9,858 shares during the period. 16.16% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on BTI shares. Barclays reissued an "overweight" rating on shares of British American Tobacco in a research note on Friday, June 13th. Wall Street Zen cut shares of British American Tobacco from a "buy" rating to a "hold" rating in a research report on Sunday, July 6th. Bank of America began coverage on shares of British American Tobacco in a report on Wednesday, April 30th. They set a "buy" rating for the company. Finally, Jefferies Financial Group began coverage on British American Tobacco in a research report on Wednesday. They set 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 issued a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $33.00.

British American Tobacco Trading Up 0.7%

British American Tobacco stock traded up $0.35 during trading hours on Friday, reaching $51.17. The stock had a trading volume of 7,858,501 shares, compared to its average volume of 5,283,091. The stock has a market cap of $105.55 billion, a PE ratio of 10.51, a PEG ratio of 4.68 and a beta of 0.33. British American Tobacco p.l.c. has a 52 week low of $31.92 and a 52 week high of $51.38. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.76 and a quick ratio of 0.52. The company has a fifty day simple moving average of $46.20 and a 200-day simple moving average of $41.89.

British American Tobacco Cuts Dividend

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

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.