Institute for Wealth Management LLC. acquired a new stake in Reynolds American, Inc. (NYSE:RAI) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 7,111 shares of the company’s stock, valued at approximately $465,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Glassman Wealth Services increased its position in shares of Reynolds American by 0.8% in the second quarter. Glassman Wealth Services now owns 1,568 shares of the company’s stock valued at $102,000 after acquiring an additional 12 shares during the last quarter. Oppenheimer Asset Management Inc. raised its holdings in Reynolds American by 2.5% during the second quarter. Oppenheimer Asset Management Inc. now owns 1,569 shares of the company’s stock worth $102,000 after acquiring an additional 39 shares in the last quarter. Acrospire Investment Management LLC bought a new stake in Reynolds American during the second quarter worth about $103,000. Shine Investment Advisory Services Inc. bought a new stake in Reynolds American during the second quarter worth about $119,000. Finally, Motco raised its holdings in Reynolds American by 549.7% during the second quarter. Motco now owns 1,962 shares of the company’s stock worth $128,000 after acquiring an additional 1,660 shares in the last quarter. Institutional investors own 46.34% of the company’s stock.

Shares of Reynolds American, Inc. (NYSE:RAI) traded down 2.23% on Monday, hitting $65.40. The stock had a trading volume of 159,452,032 shares. Reynolds American, Inc. has a 52 week low of $43.38 and a 52 week high of $67.81. The company has a 50-day moving average of $65.25 and a 200 day moving average of $64.00.

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A number of research firms have weighed in on RAI. BidaskClub downgraded Reynolds American from a “strong-buy” rating to a “buy” rating in a research note on Saturday, June 10th. Cowen and Company reaffirmed a “hold” rating and set a $65.00 price target on shares of Reynolds American in a research report on Tuesday, July 11th. Jefferies Group LLC set a $60.00 price objective on Reynolds American and gave the stock a “hold” rating in a research note on Monday, July 17th. Finally, Vetr upgraded Reynolds American from a “buy” rating to a “strong-buy” rating and set a $73.00 price objective on the stock in a research note on Monday, June 12th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating, one has assigned a buy rating and one has given a strong buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $59.82.

Reynolds American Company Profile

Reynolds American Inc (RAI) is a holding company. The Company’s segments include RJR Tobacco, which consists of the primary operations of its subsidiary, R. J. Reynolds Tobacco Company; Santa Fe, which consists of the primary operations of its subsidiary, Santa Fe Natural Tobacco Company, Inc, and American Snuff, which consists of the primary operations of its subsidiary, American Snuff Company, LLC.

Institutional Ownership by Quarter for Reynolds American (NYSE:RAI)

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