NewEdge Wealth LLC Purchases 61,508 Shares of British American Tobacco p.l.c. (NYSE:BTI)

NewEdge Wealth LLC lifted its position in British American Tobacco p.l.c. (NYSE:BTI – Get Rating) by 934.6% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 68,089 shares of the company’s stock after buying an additional 61,508 shares during the period. NewEdge Wealth LLC’s holdings in British American Tobacco were worth $2,922,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in BTI. Investors Asset Management of Georgia Inc. GA ADV bought a new stake in shares of British American Tobacco in the 2nd quarter valued at $29,000. GoalVest Advisory LLC bought a new position in British American Tobacco during the 2nd quarter worth about $30,000. Tcwp LLC bought a new position in British American Tobacco during the 1st quarter worth about $33,000. Rise Advisors LLC bought a new position in British American Tobacco during the 2nd quarter worth about $34,000. Finally, ACG Wealth bought a new position in British American Tobacco during the 2nd quarter worth about $39,000. Institutional investors own 6.70% of the company’s stock.

British American Tobacco Price Performance

Shares of BTI stock opened at $41.67 on Thursday. The firm has a 50 day moving average price of $38.16 and a two-hundred day moving average price of $40.43. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.52 and a current ratio of 0.88. British American Tobacco p.l.c. has a 12-month low of $33.62 and a 12-month high of $47.24.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. The Goldman Sachs Group cut British American Tobacco from a “buy” rating to a “neutral” rating in a report on Tuesday, November 1st. StockNews.com downgraded shares of British American Tobacco from a “buy” rating to a “hold” rating in a research note on Friday, November 11th.

British American Tobacco Company Profile

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British American Tobacco p.l.c. provides tobacco and nicotine products to consumers worldwide. It offers vapour, tobacco heating, and modern oral nicotine products; combustible products; and traditional oral products, such as snus and moist snuff. The company offers its products under the Kent, Dunhill, Lucky Strike, Pall Mall, Rothmans, Camel, Newport, Natural American Spirit, being Vapour, THP, and Modern Oral brands.