Armbruster Capital Management Lowers stake in Philip Morris International (PM)

Philip Morris International (PM) : Armbruster Capital Management reduced its stake in Philip Morris International by 4.61% during the most recent quarter end. The investment management company now holds a total of 7,237 shares of Philip Morris International which is valued at $726,016 after selling 350 shares in Philip Morris International , the firm said in a disclosure report filed with the SEC on May 3, 2016.Philip Morris International makes up approximately 0.49% of Armbruster Capital Management’s portfolio.

Other Hedge Funds, Including , Smith Asset Management Group Lp sold out all of its stake in PM during the most recent quarter. The investment firm sold 20 shares of PM which is valued $2,006.Nordea Investment Management Ab reduced its stake in PM by selling 108,262 shares or 5.57% in the most recent quarter. The Hedge Fund company now holds 1,837,002 shares of PM which is valued at $180,246,636. Philip Morris International makes up approx 0.54% of Nordea Investment Management Ab’s portfolio.Davenport Co boosted its stake in PM in the latest quarter, The investment management firm added 4,029 additional shares and now holds a total of 778,982 shares of Philip Morris International which is valued at $76,433,714. Philip Morris International makes up approx 1.19% of Davenport Co’s portfolio. Acropolis Investment Management added PM to its portfolio by purchasing 1,049 company shares during the most recent quarter which is valued at $102,928. Philip Morris International makes up approx 0.02% of Acropolis Investment Management’s portfolio. Baring Asset Management Ltd added PM to its portfolio by purchasing 4,235 company shares during the most recent quarter which is valued at $415,538. Philip Morris International makes up approx 0.03% of Baring Asset Management Ltd’s portfolio.

Philip Morris International opened for trading at $100.5 and hit $101.93 on the upside on Tuesday, eventually ending the session at $101.89, with a gain of 1.49% or 1.5 points. The heightened volatility saw the trading volume jump to 31,17,910 shares. Company has a market cap of $158,058 M.

On the company’s financial health, Philip Morris International reported $0.98 EPS for the quarter, missing the analyst consensus estimate by $ -0.13 based on the information available during the earnings call on Apr 19, 2016. Analyst had a consensus of $1.11. The company had revenue of $6083.00 million for the quarter, compared to analysts expectations of $6280.03 million. The company’s revenue was down -8.1 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $1.16 EPS.

Many Wall Street Analysts have commented on Philip Morris International. Philip Morris International was Upgraded by Societe Generale to ” Hold” on Apr 21, 2016. Philip Morris International was Upgraded by BofA/Merrill to ” Buy” on Mar 24, 2016. Philip Morris International was Upgraded by Exane BNP Paribas to ” Outperform” on Mar 8, 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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