Hayek Kallen Investment Management Lowers stake in Philip Morris International (PM)

Philip Morris International (PM) : Hayek Kallen Investment Management reduced its stake in Philip Morris International by 2.88% during the most recent quarter end. The investment management company now holds a total of 41,857 shares of Philip Morris International which is valued at $4,143,843 after selling 1,240 shares in Philip Morris International , the firm said in a disclosure report filed with the SEC on Aug 10, 2016.Philip Morris International makes up approximately 2.91% of Hayek Kallen Investment Management’s portfolio.

Other Hedge Funds, Including , Westbourne Investment Advisors added PM to its portfolio by purchasing 1,813 company shares during the most recent quarter which is valued at $179,487. Philip Morris International makes up approx 0.15% of Westbourne Investment Advisors’s portfolio.State Treasurer State Of Michigan reduced its stake in PM by selling 6,800 shares or 0.78% in the most recent quarter. The Hedge Fund company now holds 864,445 shares of PM which is valued at $85,605,988. Philip Morris International makes up approx 0.65% of State Treasurer State Of Michigan’s portfolio.Shinko Asset Management Ltd. reduced its stake in PM by selling 88 shares or 2.17% in the most recent quarter. The Hedge Fund company now holds 3,965 shares of PM which is valued at $395,866.

Philip Morris International closed down -0.41 points or -0.41% at $99.93 with 29,12,432 shares getting traded on Friday. Post opening the session at $100.04, the shares hit an intraday low of $99.54 and an intraday high of $100.12 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. Philip Morris International was Upgraded by JP Morgan to ” Overweight” on Jun 17, 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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