JPMorgan Chase & Co. Sells 24,207 Shares of British American Tobacco p.l.c. $BTI

JPMorgan Chase & Co. reduced its holdings in British American Tobacco p.l.c. (NYSE:BTI) by 0.9% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,724,117 shares of the company’s stock after selling 24,207 shares during the quarter. JPMorgan Chase & Co. owned 0.13% of British American Tobacco worth $144,596,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of BTI. PNC Financial Services Group Inc. raised its holdings in British American Tobacco by 13.8% during the 3rd quarter. PNC Financial Services Group Inc. now owns 105,475 shares of the company’s stock worth $5,599,000 after buying an additional 12,779 shares during the period. HighTower Advisors LLC increased its position in shares of British American Tobacco by 6.6% during the third quarter. HighTower Advisors LLC now owns 197,437 shares of the company’s stock worth $10,480,000 after acquiring an additional 12,259 shares in the last quarter. Atlantic Family Wealth LLC raised its holdings in shares of British American Tobacco by 32.2% during the third quarter. Atlantic Family Wealth LLC now owns 6,143 shares of the company’s stock worth $326,000 after acquiring an additional 1,497 shares during the period. Assetmark Inc. lifted its position in British American Tobacco by 0.4% in the 3rd quarter. Assetmark Inc. now owns 534,746 shares of the company’s stock valued at $28,384,000 after acquiring an additional 2,328 shares in the last quarter. Finally, Atria Investments Inc boosted its stake in British American Tobacco by 19.0% in the 3rd quarter. Atria Investments Inc now owns 99,735 shares of the company’s stock worth $5,294,000 after purchasing an additional 15,941 shares during the period. Institutional investors own 16.16% of the company’s stock.

British American Tobacco Stock Performance

NYSE BTI opened at $62.06 on Friday. British American Tobacco p.l.c. has a 12 month low of $37.31 and a 12 month high of $63.03. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.87 and a quick ratio of 0.57. The stock has a 50 day moving average of $58.27 and a 200-day moving average of $56.11.

British American Tobacco Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, February 8th. Shareholders of record on Tuesday, December 29th will be paid a $0.8349 dividend. The ex-dividend date is Tuesday, December 29th. This represents a $3.34 dividend on an annualized basis and a yield of 5.4%.

Analysts Set New Price Targets

BTI has been the topic of a number of research reports. Morgan Stanley restated an “underweight” rating on shares of British American Tobacco in a report on Wednesday, December 10th. Citigroup reaffirmed a “buy” rating on shares of British American Tobacco in a research report on Friday, November 28th. Kepler Capital Markets assumed coverage on shares of British American Tobacco in a report on Friday, December 12th. They issued a “buy” rating on the stock. Weiss Ratings upgraded shares of British American Tobacco from a “hold (c+)” rating to a “buy (b-)” rating in a report on Tuesday. Finally, Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of British American Tobacco in a research note on Friday, November 28th. Eight analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, British American Tobacco presently has an average rating of “Moderate Buy” and a consensus price target of $51.00.

About British American Tobacco

British American Tobacco plc (BTI) is a multinational tobacco manufacturer and nicotine products company headquartered in London. Founded in 1902 as a joint venture to commercialize tobacco products outside the United States, the company has grown into one of the world’s largest tobacco firms with a long history in manufacturing and global distribution of combustible tobacco products.

BAT’s core business remains the manufacture and sale of cigarettes and other tobacco products under a portfolio of well-known consumer brands, including Dunhill, Lucky Strike, Pall Mall, Kent and Rothmans.