Ascentis Independent Advisors Purchases 9,754 Shares of British American Tobacco p.l.c. $BTI

Ascentis Independent Advisors raised its position in shares of British American Tobacco p.l.c. (NYSE:BTI) by 155.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 16,043 shares of the company’s stock after buying an additional 9,754 shares during the quarter. Ascentis Independent Advisors’ holdings in British American Tobacco were worth $938,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of BTI. First Command Advisory Services Inc. boosted its stake in British American Tobacco by 1,386.7% during the fourth quarter. First Command Advisory Services Inc. now owns 446 shares of the company’s stock worth $25,000 after acquiring an additional 416 shares in the last quarter. Glen Eagle Advisors LLC purchased a new position in shares of British American Tobacco during the fourth quarter valued at approximately $26,000. Cary Street Partners Financial LLC bought a new stake in shares of British American Tobacco in the 2nd quarter worth approximately $30,000. SHP Wealth Management bought a new stake in shares of British American Tobacco in the 4th quarter worth approximately $35,000. Finally, Cornerstone Planning Group LLC grew its stake in shares of British American Tobacco by 141.2% in the 4th quarter. Cornerstone Planning Group LLC now owns 591 shares of the company’s stock worth $36,000 after buying an additional 346 shares during the last quarter. 16.16% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. Weiss Ratings upgraded British American Tobacco from a “buy (b-)” rating to a “buy (b)” rating in a research note on Wednesday, June 3rd. Morgan Stanley restated an “overweight” rating on shares of British American Tobacco in a report on Monday, June 8th. Citigroup reaffirmed a “buy” rating on shares of British American Tobacco in a research report on Thursday, May 14th. Finally, Wall Street Zen downgraded shares of British American Tobacco from a “buy” rating to a “hold” rating in a research report on Saturday, June 13th. Seven equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $51.00.

British American Tobacco Trading Up 0.6%

BTI stock opened at $61.85 on Wednesday. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.57 and a current ratio of 0.87. British American Tobacco p.l.c. has a 1-year low of $47.54 and a 1-year high of $67.30. The business has a fifty day moving average price of $61.54 and a 200-day moving average price of $59.64.

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.