Formidable Asset Management LLC decreased its stake in shares of Reynolds American, Inc. (NYSE:RAI) by 1.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,363 shares of the company’s stock after selling 50 shares during the period. Formidable Asset Management LLC’s holdings in Reynolds American were worth $284,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Glassman Wealth Services boosted its stake in shares of Reynolds American by 0.8% during the 2nd quarter. Glassman Wealth Services now owns 1,568 shares of the company’s stock valued at $102,000 after purchasing an additional 12 shares in the last quarter. Oppenheimer Asset Management Inc. boosted its stake in shares of Reynolds American by 2.5% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 1,569 shares of the company’s stock valued at $102,000 after purchasing an additional 39 shares in the last quarter. Shine Investment Advisory Services Inc. bought a new stake in shares of Reynolds American during the 2nd quarter valued at about $119,000. Motco boosted its stake in shares of Reynolds American by 549.7% during the 2nd quarter. Motco now owns 1,962 shares of the company’s stock valued at $128,000 after purchasing an additional 1,660 shares in the last quarter. Finally, Parallel Advisors LLC boosted its stake in shares of Reynolds American by 21.2% during the 1st quarter. Parallel Advisors LLC now owns 3,065 shares of the company’s stock valued at $198,000 after purchasing an additional 537 shares in the last quarter. 46.34% of the stock is currently owned by hedge funds and other institutional investors.

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Shares of Reynolds American, Inc. (NYSE:RAI) traded down 2.23% on Friday, hitting $65.40. 159,452,032 shares of the stock traded hands. The stock’s 50 day moving average price is $65.25 and its 200 day moving average price is $64.00. Reynolds American, Inc. has a 52-week low of $43.38 and a 52-week high of $67.81.

RAI has been the topic of a number of research reports. BidaskClub lowered shares of Reynolds American from a “strong-buy” rating to a “buy” rating in a research note on Saturday, June 10th. Jefferies Group LLC set a $60.00 price objective on shares of Reynolds American and gave the stock a “hold” rating in a research note on Friday, August 25th. Cowen and Company reissued a “hold” rating and set a $65.00 price objective on shares of Reynolds American in a research note on Tuesday, July 11th. Vetr raised shares of 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. Finally, Piper Jaffray Companies began coverage on shares of Reynolds American in a research note on Thursday, May 25th. They set a “neutral” rating and a $67.00 price objective on the stock. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company. Reynolds American has an average rating of “Hold” and a consensus target price of $59.82.

Reynolds American 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.

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

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