Callahan Advisors buys $640,336 stake in Philip Morris International (PM)

Philip Morris International (PM) : Callahan Advisors scooped up 2,035 additional shares in Philip Morris International during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Oct 14, 2016. The investment management firm now holds a total of 6,682 shares of Philip Morris International which is valued at $640,336.Philip Morris International makes up approximately 0.16% of Callahan Advisors’s portfolio.

Other Hedge Funds, Including , Ct Financial Advisors reduced its stake in PM by selling 1,200 shares or 48.98% in the most recent quarter. The Hedge Fund company now holds 1,250 shares of PM which is valued at $119,400. Philip Morris International makes up approx 0.08% of Ct Financial Advisors’s portfolio.Grassi Investment Management boosted its stake in PM in the latest quarter, The investment management firm added 19,008 additional shares and now holds a total of 66,628 shares of Philip Morris International which is valued at $6,364,307. Philip Morris International makes up approx 1.23% of Grassi Investment Management’s portfolio. Centre Asset Management sold out all of its stake in PM during the most recent quarter. The investment firm sold 57,820 shares of PM which is valued $5,565,175.

Philip Morris International closed down -0.37 points or -0.38% at $95.83 with 31,56,276 shares getting traded on Friday. Post opening the session at $96.33, the shares hit an intraday low of $95.82 and an intraday high of $96.74 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

On the company’s financial health, Philip Morris International reported $1.15 EPS for the quarter, missing the analyst consensus estimate by $ -0.04 based on the information available during the earnings call on Jul 19, 2016. Analyst had a consensus of $1.19. The company had revenue of $6649.00 million for the quarter, compared to analysts expectations of $6772.05 million. The company’s revenue was down -3.1 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $1.21 EPS.

Many Wall Street Analysts have commented on Philip Morris International. Jefferies Initiated Philip Morris International on Sep 21, 2016 to “Hold”, Price Target of the shares are set at $96.Philip Morris International was Initiated by Citigroup to “Neutral” on Sep 13, 2016. Philip Morris International was Upgraded by Goldman to ” Buy” on Sep 12, 2016.

Philip Morris International Inc. is a holding company engaged in the manufacture and sale of cigarettes other tobacco products and other nicotine-containing products in markets outside of the United States. The Company’s products are sold in more than 180 markets which include a range of international and local premium mid-price and low-price brands. Its premium price brands include Marlboro Merit Parliament and Virginia Slims; mid-price brands are L&M and Chesterfield and international brands include Bond Street Lark Muratti Next Philip Morris and Red & White. Its local cigarette brands consist of Sampoerna Dji Sam Soe and U Mild in Indonesia; Fortune Champion and Hope in the Philippines; Diana in Italy; Optima and Apollo-Soyuz in Russia; Morven Gold in Pakistan; Boston in Colombia; Belmont Canadian Classics and Number 7 in Canada; Best and Classic in Serbia; f6 in Germany; Delicados in Mexico; Assos in Greece and Petra in the Czech Republic and Slovakia.

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