Shikiar Asset Management Inc. reduced its stake in British American Tobacco p.l.c. (NYSE:BTI) by 30.0% during the second quarter, Holdings Channel reports. The fund owned 3,500 shares of the company’s stock after selling 1,500 shares during the period. Shikiar Asset Management Inc.’s holdings in British American Tobacco p.l.c. were worth $240,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. Aviance Capital Partners LLC purchased a new position in shares of British American Tobacco p.l.c. during the second quarter valued at about $214,000. Naples Global Advisors LLC boosted its position in shares of British American Tobacco p.l.c. by 2.4% in the second quarter. Naples Global Advisors LLC now owns 12,560 shares of the company’s stock valued at $861,000 after buying an additional 300 shares during the last quarter. Greenleaf Trust boosted its position in shares of British American Tobacco p.l.c. by 20.2% in the second quarter. Greenleaf Trust now owns 12,286 shares of the company’s stock valued at $842,000 after buying an additional 2,062 shares during the last quarter. Huntington National Bank boosted its position in shares of British American Tobacco p.l.c. by 41.1% in the second quarter. Huntington National Bank now owns 2,706 shares of the company’s stock valued at $185,000 after buying an additional 788 shares during the last quarter. Finally, Bollard Group LLC boosted its position in shares of British American Tobacco p.l.c. by 1.3% in the second quarter. Bollard Group LLC now owns 26,438 shares of the company’s stock valued at $1,812,000 after buying an additional 338 shares during the last quarter. 4.46% of the stock is currently owned by institutional investors and hedge funds.

British American Tobacco p.l.c. (NYSE BTI) opened at 63.36 on Wednesday. The company has a market cap of $117.72 billion, a P/E ratio of 21.11 and a beta of 1.02. The stock has a 50 day moving average price of $66.93 and a 200 day moving average price of $71.87. British American Tobacco p.l.c. has a 1-year low of $52.71 and a 1-year high of $73.41.

The business also recently announced a None dividend, which will be paid on Tuesday, October 3rd. Stockholders of record on Friday, August 18th will be paid a $0.728 dividend. The ex-dividend date is Wednesday, August 16th. This represents a dividend yield of 2.28%.

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Several brokerages have issued reports on BTI. Zacks Investment Research cut British American Tobacco p.l.c. from a “buy” rating to a “hold” rating in a research report on Friday, June 16th. Piper Jaffray Companies began coverage on British American Tobacco p.l.c. in a research note on Thursday, May 25th. They issued an “overweight” rating and a $59.00 price objective on the stock. Bank of America Corporation set a $79.00 price objective on British American Tobacco p.l.c. and gave the stock a “buy” rating in a research note on Thursday, July 6th. Investec raised British American Tobacco p.l.c. from a “hold” rating to a “buy” rating in a research note on Friday, August 4th. Finally, J P Morgan Chase & Co reaffirmed an “overweight” rating on shares of British American Tobacco p.l.c. in a research note on Wednesday, August 9th. One analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $69.33.

About British American Tobacco p.l.c.

British American Tobacco p.l.c. is a tobacco and next generation products company. The Company’s tobacco product range includes cigarettes, fine cut (roll-your-own and make-your-own tobacco) and Swedish-style snus. Its segments include Asia-Pacific, Americas, Western Europe, and Eastern Europe, Middle East and Africa (EEMEA).

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Institutional Ownership by Quarter for British American Tobacco p.l.c. (NYSE:BTI)

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