British American Tobacco p.l.c. (NYSE:BTI) is Investment Management Associates Inc. ADV’s 2nd Largest Position

Investment Management Associates Inc. ADV reduced its position in shares of British American Tobacco p.l.c. (NYSE:BTI) by 6.2% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 633,682 shares of the company’s stock after selling 41,753 shares during the period. British American Tobacco makes up 9.1% of Investment Management Associates Inc. ADV’s portfolio, making the stock its 2nd biggest holding. Investment Management Associates Inc. ADV’s holdings in British American Tobacco were worth $23,180,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Access Investment Management LLC grew its position in British American Tobacco by 48.4% in the third quarter. Access Investment Management LLC now owns 11,620 shares of the company’s stock worth $425,000 after acquiring an additional 3,790 shares in the last quarter. Catalytic Wealth RIA LLC lifted its stake in British American Tobacco by 5.6% in the third quarter. Catalytic Wealth RIA LLC now owns 11,519 shares of the company’s stock worth $421,000 after purchasing an additional 614 shares during the last quarter. Kennebec Savings Bank bought a new stake in British American Tobacco in the third quarter worth $227,000. Ashton Thomas Securities LLC bought a new stake in British American Tobacco in the third quarter worth $431,000. Finally, Ted Buchan & Co lifted its stake in British American Tobacco by 69.7% in the third quarter. Ted Buchan & Co now owns 18,504 shares of the company’s stock worth $677,000 after purchasing an additional 7,601 shares during the last quarter. 21.44% of the stock is currently owned by hedge funds and other institutional investors.

British American Tobacco Stock Down 0.6 %

Shares of British American Tobacco stock opened at $35.16 on Tuesday. The company’s fifty day simple moving average is $36.42 and its two-hundred day simple moving average is $33.96. British American Tobacco p.l.c. has a 12-month low of $28.25 and a 12-month high of $39.54. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.88 and a quick ratio of 0.58.

Analyst Upgrades and Downgrades

Several analysts have weighed in on BTI shares. Barclays raised shares of British American Tobacco to a “strong-buy” rating in a research note on Thursday, October 17th. StockNews.com downgraded shares of British American Tobacco from a “strong-buy” rating to a “buy” rating in a research note on Sunday, August 11th. Finally, Morgan Stanley downgraded British American Tobacco from an “overweight” rating to an “underweight” rating and set a $33.00 price target on the stock. in a report on Thursday, October 3rd.

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.