Cumberland Partners Ltd buys $3,479,548 stake in Philip Morris International (PM)

Philip Morris International (PM) : Cumberland Partners Ltd scooped up 2,700 additional shares in Philip Morris International during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Jul 26, 2016. The investment management firm now holds a total of 35,750 shares of Philip Morris International which is valued at $3,479,548.Philip Morris International makes up approximately 0.48% of Cumberland Partners Ltd’s portfolio.

Other Hedge Funds, Including , Huntington National Bank reduced its stake in PM by selling 34,321 shares or 20.59% in the most recent quarter. The Hedge Fund company now holds 132,379 shares of PM which is valued at $12,884,448. Philip Morris International makes up approx 0.31% of Huntington National Bank’s portfolio.Lynch Associatesin boosted its stake in PM in the latest quarter, The investment management firm added 37 additional shares and now holds a total of 17,286 shares of Philip Morris International which is valued at $1,725,834. Philip Morris International makes up approx 0.75% of Lynch Associatesin’s portfolio.

Philip Morris International opened for trading at $99.29 and hit $100.4 on the upside on Friday, eventually ending the session at $100.26, with a gain of 1.17% or 1.16 points. The heightened volatility saw the trading volume jump to 55,82,121 shares. Company has a market cap of $155,536 M.

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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