Atria Investments cuts British American Tobacco stake by 30.1% in Q2

Investment firm Atria Investments Inc reduced its stake in British American Tobacco (BAT) by 30.1% in the second quarter of 2023, leaving it with 70,847 shares valued at $2.352 million.

According to a Tickerreport news brief on November 5, investment firm Atria Investments Inc cut its holdings in British American Tobacco (BAT) by 30.1% in the second quarter of 2023, leaving it with 70,847 shares worth $2.352 million. 

In addition, many other hedge funds have recently adjusted their holdings in BTI. BlackRock Inc. increased its BAT position by 11.6% in the first quarter, and its holdings are now valued at $237 million; holdings by Dimensional Fund Advisors LP, Cetera Investment Advisers, Sequoia Financial Advisors LLC, and NewEdge Advisors LLC also increased. 

Analysts have recently expressed mixed views on BAT shares. In a report issued by Morgan Stanley, BAT received an “overweight” rating; Citigroup gave it a “buy” rating; and Argus downgraded BAT from “buy” to “hold.” At present, two analysts rate the stock “hold,” while three analysts rate it “buy.”