Hollencrest Securities Lowers stake in Philip Morris International (PM)

Philip Morris International (PM) : Hollencrest Securities reduced its stake in Philip Morris International by 0.25% during the most recent quarter end. The investment management company now holds a total of 98,505 shares of Philip Morris International which is valued at $9,409,198 after selling 247 shares in Philip Morris International , the firm said in a disclosure report filed with the SEC on Oct 12, 2016.Philip Morris International makes up approximately 1.40% of Hollencrest Securities’s portfolio.

Other Hedge Funds, Including , Legal General Group Plc boosted its stake in PM in the latest quarter, The investment management firm added 669 additional shares and now holds a total of 7,144,668 shares of Philip Morris International which is valued at $682,458,687. Philip Morris International makes up approx 0.70% of Legal General Group Plc’s portfolio.

Philip Morris International closed down -0.73 points or -0.76% at $95.52 with 46,11,431 shares getting traded on Tuesday. Post opening the session at $96.2, the shares hit an intraday low of $95.15 and an intraday high of $96.25 and the price fluctuated in this range throughout the day.Shares ended Tuesday 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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