Elevation Point Wealth Partners LLC Purchases 29,469 Shares of British American Tobacco p.l.c. $BTI

Elevation Point Wealth Partners LLC grew its position in shares of British American Tobacco p.l.c. (NYSE:BTI) by 90.9% in the 1st quarter, HoldingsChannel reports. The fund owned 61,899 shares of the company’s stock after buying an additional 29,469 shares during the period. Elevation Point Wealth Partners LLC’s holdings in British American Tobacco were worth $3,644,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. AlphaCore Capital LLC increased its position in shares of British American Tobacco by 1.6% during the fourth quarter. AlphaCore Capital LLC now owns 10,849 shares of the company’s stock valued at $614,000 after buying an additional 170 shares during the period. Coldstream Capital Management Inc. lifted its holdings in shares of British American Tobacco by 3.8% in the fourth quarter. Coldstream Capital Management Inc. now owns 4,996 shares of the company’s stock worth $283,000 after buying an additional 181 shares in the last quarter. NewEdge Wealth LLC boosted its position in shares of British American Tobacco by 0.3% in the fourth quarter. NewEdge Wealth LLC now owns 58,696 shares of the company’s stock valued at $3,323,000 after acquiring an additional 187 shares during the period. Intrua Financial LLC grew its stake in British American Tobacco by 3.8% during the first quarter. Intrua Financial LLC now owns 5,306 shares of the company’s stock valued at $310,000 after acquiring an additional 196 shares in the last quarter. Finally, Laurel Oak Wealth Management LLC increased its holdings in British American Tobacco by 3.2% during the 1st quarter. Laurel Oak Wealth Management LLC now owns 6,666 shares of the company’s stock worth $390,000 after acquiring an additional 204 shares during the period. 16.16% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

BTI has been the topic of several recent analyst reports. Morgan Stanley reiterated an “overweight” rating on shares of British American Tobacco in a research note on Monday, June 8th. Weiss Ratings upgraded shares of British American Tobacco from a “buy (b-)” rating to a “buy (b)” rating in a research report on Wednesday, June 3rd. Citigroup reiterated a “buy” rating on shares of British American Tobacco in a research report on Thursday, May 14th. Finally, Wall Street Zen lowered British American Tobacco from a “buy” rating to a “hold” rating in a research note on Saturday, June 13th. Seven research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $51.00.

British American Tobacco Price Performance

BTI stock opened at $61.83 on Friday. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.57 and a current ratio of 0.87. The company’s 50 day moving average is $61.39 and its 200 day moving average is $59.56. British American Tobacco p.l.c. has a 1-year low of $47.54 and a 1-year high of $67.30.

British American Tobacco Company Profile

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.