LPL Financial LLC Acquires 91,247 Shares of British American Tobacco p.l.c. (NYSE:BTI)

Key Points

• LPL Financial LLC increased its stake in British American Tobacco by 12.3%, owning 830,658 shares worth approximately $34.36 million after acquiring an additional 91,247 shares in the first quarter.
• Other investors, including Rosenberg Matthew Hamilton and Golden State Wealth Management LLC, also significantly increased their holdings in British American Tobacco, with some firms raising their positions by over 100%.
• British American Tobacco's stock has seen a 1.2% increase, with an average target price of $33.00 despite conflicting ratings from brokerages, reflecting a current average recommendation of a "Moderate Buy."

LPL Financial LLC boosted its stake in British American Tobacco p.l.c. (NYSE:BTI - Free Report) by 12.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 830,658 shares of the company's stock after acquiring an additional 91,247 shares during the period. LPL Financial LLC's holdings in British American Tobacco were worth $34,364,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. National Bank of Canada FI boosted its stake in shares of British American Tobacco by 2.5% in the 4th quarter. National Bank of Canada FI now owns 90,676 shares of the company's stock worth $3,293,000 after buying an additional 2,190 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in British American Tobacco by 6.0% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 136,585 shares of the company's stock worth $4,961,000 after buying an additional 7,785 shares during the period. Huntington National Bank lifted its holdings in shares of British American Tobacco by 8.4% during the 4th quarter. Huntington National Bank now owns 4,791 shares of the company's stock valued at $174,000 after purchasing an additional 373 shares during the last quarter. World Investment Advisors increased its position in shares of British American Tobacco by 44.2% in the 4th quarter. World Investment Advisors now owns 7,930 shares of the company's stock valued at $288,000 after acquiring an additional 2,430 shares during the period. Finally, Pitcairn Co. boosted its stake in shares of British American Tobacco by 10.4% during the 4th quarter. Pitcairn Co. now owns 7,980 shares of the company's stock worth $290,000 after acquiring an additional 753 shares in the last quarter. 16.16% of the stock is owned by hedge funds and other institutional investors.

British American Tobacco Stock Performance

Shares of NYSE BTI traded up $0.67 during midday trading on Friday, hitting $54.35. The company's stock had a trading volume of 5,764,393 shares, compared to its average volume of 6,245,122. British American Tobacco p.l.c. has a 1-year low of $34.12 and a 1-year high of $54.91. The firm's fifty day moving average price is $49.14 and its 200-day moving average price is $43.70. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.55 and a current ratio of 0.87. The firm has a market cap of $112.11 billion, a P/E ratio of 11.16, a P/E/G ratio of 2.13 and a beta of 0.38.

British American Tobacco Cuts Dividend

The firm also recently announced 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 dividend yield of 599.0%. The ex-dividend date is Friday, June 27th. British American Tobacco's payout ratio is presently 60.78%.

Wall Street Analyst Weigh In

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

About British American Tobacco

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.