Envestnet Portfolio Solutions Inc. Sells 38,715 Shares of British American Tobacco p.l.c. (NYSE:BTI)

Envestnet Portfolio Solutions Inc. cut its holdings in British American Tobacco p.l.c. (NYSE:BTI - Free Report) by 54.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 31,983 shares of the company's stock after selling 38,715 shares during the quarter. Envestnet Portfolio Solutions Inc.'s holdings in British American Tobacco were worth $1,162,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Thrivent Financial for Lutherans raised its holdings in British American Tobacco by 46.4% in the 3rd quarter. Thrivent Financial for Lutherans now owns 24,262 shares of the company's stock valued at $887,000 after acquiring an additional 7,686 shares during the last quarter. Massachusetts Financial Services Co. MA increased its position in shares of British American Tobacco by 4.8% during the third quarter. Massachusetts Financial Services Co. MA now owns 128,800 shares of the company's stock worth $4,712,000 after acquiring an additional 5,900 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of British American Tobacco by 25.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 131,871 shares of the company's stock worth $4,824,000 after purchasing an additional 26,863 shares during the last quarter. Eagle Asset Management Inc. bought a new position in British American Tobacco in the third quarter worth about $672,000. Finally, Raymond James Trust N.A. grew its position in shares of British American Tobacco by 5.8% during the third quarter. Raymond James Trust N.A. now owns 52,389 shares of the company's stock worth $1,916,000 after acquiring an additional 2,862 shares during the last quarter. 16.16% of the stock is currently owned by institutional investors and hedge funds.

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British American Tobacco Stock Performance

British American Tobacco stock traded up $0.13 on Wednesday, reaching $40.84. 6,017,575 shares of the stock were exchanged, compared to its average volume of 4,478,652. British American Tobacco p.l.c. has a twelve month low of $28.25 and a twelve month high of $42.74. The company has a current ratio of 0.76, a quick ratio of 0.58 and a debt-to-equity ratio of 0.65. The stock has a market cap of $84.59 billion, a PE ratio of 8.39 and a beta of 0.50. The firm has a fifty day moving average price of $39.57 and a two-hundred day moving average price of $37.60.

British American Tobacco Dividend Announcement

The business also recently announced a dividend, which will be paid on Monday, May 12th. Investors of record on Friday, March 28th will be paid a $0.7491 dividend. The ex-dividend date of this dividend is Friday, March 28th. British American Tobacco's payout ratio is presently 60.57%.

Analyst Upgrades and Downgrades

BTI has been the subject of a number of research analyst reports. StockNews.com raised shares of British American Tobacco from a "hold" rating to a "buy" rating in a report on Monday, February 17th. UBS Group raised shares of British American Tobacco from a "neutral" rating to a "buy" rating in a research note on Monday, January 27th.

British American Tobacco Company 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.