Concurrent Investment Advisors LLC Trims Holdings in British American Tobacco p.l.c. (NYSE:BTI)

Concurrent Investment Advisors LLC lessened its stake in shares of British American Tobacco p.l.c. (NYSE:BTI - Free Report) by 84.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,312 shares of the company's stock after selling 40,392 shares during the quarter. Concurrent Investment Advisors LLC's holdings in British American Tobacco were worth $302,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the stock. Steward Partners Investment Advisory LLC boosted its stake in shares of British American Tobacco by 40.4% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 7,755 shares of the company's stock valued at $282,000 after purchasing an additional 2,231 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in shares of British American Tobacco by 20.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 159,363 shares of the company's stock valued at $5,788,000 after purchasing an additional 27,492 shares during the period. Independent Advisor Alliance boosted its stake in shares of British American Tobacco by 9.0% in the fourth quarter. Independent Advisor Alliance now owns 19,551 shares of the company's stock valued at $710,000 after purchasing an additional 1,614 shares during the period. HighTower Advisors LLC boosted its stake in shares of British American Tobacco by 5.5% in the fourth quarter. HighTower Advisors LLC now owns 189,961 shares of the company's stock valued at $6,899,000 after purchasing an additional 9,858 shares during the period. Finally, Sequoia Financial Advisors LLC boosted its stake in shares of British American Tobacco by 18.0% in the fourth quarter. Sequoia Financial Advisors LLC now owns 13,518 shares of the company's stock valued at $491,000 after purchasing an additional 2,059 shares during the period. Hedge funds and other institutional investors own 16.16% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the stock. Bank of America assumed coverage on shares of British American Tobacco in a research note on Wednesday, April 30th. They issued a "buy" rating for the company. Jefferies Financial Group assumed coverage on shares of British American Tobacco in a research note on Wednesday. They issued a "buy" rating for the company. Barclays reissued an "overweight" rating on shares of British American Tobacco in a research note on Friday, June 13th. Finally, Wall Street Zen downgraded shares of British American Tobacco from a "buy" rating to a "hold" rating in a research note on Sunday, July 6th. One analyst has rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, British American Tobacco has a consensus rating of "Moderate Buy" and a consensus price target of $33.00.

British American Tobacco Stock Up 0.7%

British American Tobacco stock traded up $0.35 during trading 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. British American Tobacco p.l.c. has a 52-week low of $31.92 and a 52-week high of $51.35. The business has a 50 day moving average price of $46.36 and a 200 day moving average price of $41.99. The company has a quick ratio of 0.52, a current ratio of 0.76 and a debt-to-equity ratio of 0.65. The stock has a market cap of $105.55 billion, a PE ratio of 10.51, a P/E/G ratio of 4.68 and a beta of 0.33.

British American Tobacco Cuts Dividend

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

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.