Verus Financial Partners Lowers stake in Philip Morris International (PM)

Philip Morris International (PM) : Verus Financial Partners reduced its stake in Philip Morris International by 0.03% during the most recent quarter end. The investment management company now holds a total of 34,769 shares of Philip Morris International which is valued at $3,581,207 after selling 10 shares in Philip Morris International , the firm said in a disclosure report filed with the SEC on Jul 15, 2016.Philip Morris International makes up approximately 1.57% of Verus Financial Partners’s portfolio.

Other Hedge Funds, Including , Eastern Bank boosted its stake in PM in the latest quarter, The investment management firm added 180 additional shares and now holds a total of 7,293 shares of Philip Morris International which is valued at $751,179. Philip Morris International makes up approx 0.06% of Eastern Bank’s portfolio.Legacy Private Trust reduced its stake in PM by selling 600 shares or 5.8% in the most recent quarter. The Hedge Fund company now holds 9,740 shares of PM which is valued at $1,003,220. Philip Morris International makes up approx 0.14% of Legacy Private Trust’s portfolio.Partnerre Asset Management Corp boosted its stake in PM in the latest quarter, The investment management firm added 100 additional shares and now holds a total of 10,481 shares of Philip Morris International which is valued at $1,079,543. Philip Morris International makes up approx 0.54% of Partnerre Asset Management Corp’s portfolio.Gierl Augustine Investment Management Inc boosted its stake in PM in the latest quarter, The investment management firm added 1,466 additional shares and now holds a total of 26,726 shares of Philip Morris International which is valued at $2,759,192. Philip Morris International makes up approx 2.91% of Gierl Augustine Investment Management Inc’s portfolio.Forte Capital Adv reduced its stake in PM by selling 275 shares or 4.6% in the most recent quarter. The Hedge Fund company now holds 5,705 shares of PM which is valued at $588,984. Philip Morris International makes up approx 0.22% of Forte Capital Adv’s portfolio.

Philip Morris International closed down -0.63 points or -0.61% at $103 with 44,46,507 shares getting traded on Monday. Post opening the session at $103.49, the shares hit an intraday low of $102.9 and an intraday high of $103.73 and the price fluctuated in this range throughout the day.Shares ended Monday 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. Philip Morris International was Upgraded by JP Morgan to ” Overweight” on Jun 17, 2016. Philip Morris International was Upgraded by Societe Generale to ” Hold” on Apr 21, 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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