Bingham Private Wealth LLC Invests $229,000 in British American Tobacco p.l.c. $BTI

Bingham Private Wealth LLC purchased a new position in British American Tobacco p.l.c. (NYSE:BTI) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 4,839 shares of the company’s stock, valued at approximately $229,000.

A number of other institutional investors also recently made changes to their positions in BTI. Rosenberg Matthew Hamilton raised its holdings in shares of British American Tobacco by 87.0% in the first quarter. Rosenberg Matthew Hamilton now owns 602 shares of the company’s stock worth $25,000 after acquiring an additional 280 shares during the last quarter. Golden State Wealth Management LLC raised its holdings in shares of British American Tobacco by 100.0% in the first quarter. Golden State Wealth Management LLC now owns 610 shares of the company’s stock worth $25,000 after acquiring an additional 305 shares during the last quarter. Mather Group LLC. raised its holdings in shares of British American Tobacco by 292.7% in the first quarter. Mather Group LLC. now owns 644 shares of the company’s stock worth $27,000 after acquiring an additional 480 shares during the last quarter. Pandora Wealth Inc. acquired a new position in shares of British American Tobacco in the first quarter worth $32,000. Finally, CX Institutional acquired a new position in shares of British American Tobacco in the first quarter worth $34,000. 16.16% of the stock is owned by institutional investors and hedge funds.

British American Tobacco Price Performance

BTI stock opened at $51.17 on Tuesday. The stock has a 50-day moving average price of $55.54 and a two-hundred day moving average price of $48.91. British American Tobacco p.l.c. has a 12-month low of $34.17 and a 12-month high of $59.29. The company has a current ratio of 0.87, a quick ratio of 0.55 and a debt-to-equity ratio of 0.68. The company has a market cap of $105.28 billion, a PE ratio of 10.51, a price-to-earnings-growth ratio of 3.55 and a beta of 0.42.

Analysts Set New Price Targets

BTI has been the subject of a number of recent analyst reports. Morgan Stanley reaffirmed an “underweight” rating and issued a $40.00 price objective on shares of British American Tobacco in a research report on Friday, August 15th. Wall Street Zen downgraded British American Tobacco from a “buy” rating to a “hold” rating in a research report on Saturday, July 26th. Argus raised British American Tobacco from a “hold” rating to a “buy” rating and set a $62.00 price objective for the company in a research report on Monday, September 8th. Jefferies Financial Group initiated coverage on British American Tobacco in a research report on Wednesday, July 9th. They issued a “buy” rating for the company. Finally, Barclays reaffirmed an “overweight” rating on shares of British American Tobacco in a research report on Friday, June 13th. Five investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, British American Tobacco has a consensus rating of “Hold” and a consensus price target of $51.00.

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.