Los Angeles Capital Management Equity Research Inc Lowers stake in Philip Morris International (PM)

Philip Morris International (PM) : Los Angeles Capital Management Equity Research Inc reduced its stake in Philip Morris International by 7.16% during the most recent quarter end. The investment management company now holds a total of 1,516,832 shares of Philip Morris International which is valued at $149,954,012 after selling 116,960 shares in Philip Morris International , the firm said in a disclosure report filed with the SEC on Aug 8, 2016.Philip Morris International makes up approximately 1.23% of Los Angeles Capital Management Equity Research Inc’s portfolio.

Other Hedge Funds, Including , Canal Capital Management boosted its stake in PM in the latest quarter, The investment management firm added 161 additional shares and now holds a total of 21,610 shares of Philip Morris International which is valued at $2,136,365. Philip Morris International makes up approx 2.18% of Canal Capital Management’s portfolio.Oakbrook Investments boosted its stake in PM in the latest quarter, The investment management firm added 7,450 additional shares and now holds a total of 97,231 shares of Philip Morris International which is valued at $9,707,543. Philip Morris International makes up approx 0.52% of Oakbrook Investments’s portfolio.Capital Management Corp Va boosted its stake in PM in the latest quarter, The investment management firm added 1 additional shares and now holds a total of 5,084 shares of Philip Morris International which is valued at $507,587. Philip Morris International makes up approx 0.19% of Capital Management Corp Va’s portfolio.Advocacy Wealth Management Services reduced its stake in PM by selling 10 shares or 4.76% in the most recent quarter. The Hedge Fund company now holds 200 shares of PM which is valued at $20,600. Philip Morris International makes up approx 0.01% of Advocacy Wealth Management Services’s portfolio.

Philip Morris International closed down -0.39 points or -0.39% at $98.61 with 52,56,666 shares getting traded on Monday. Post opening the session at $99.14, the shares hit an intraday low of $98.54 and an intraday high of $99.18 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 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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