Vontobel Asset Management INC Decreased Stake in Philip Morris Intl INC (NYSE:PM) by $84.48 Million as Shares Rose


Vontobel Asset Management Inc decreased its stake in Philip Morris Intl Inc (NYSE:PM) by 8.24% based on its latest 2016Q2 regulatory filing with the SEC. Vontobel Asset Management Inc sold 853,340 shares as the company’s stock rose 12.77% with the market. The institutional investor held 9.50 million shares of the farming and seeds and milling company at the end of 2016Q2, valued at $945.96 million, down from 10.35 million at the end of the previous reported quarter. Vontobel Asset Management Inc who had been investing in Philip Morris Intl Inc for a number of months, seems to be less bullish one the $158.17 billion market cap company. The stock is down 1.81% or $1.82 after the negative news, hitting $98.82 per share. About 2.89 million shares traded hands. Philip Morris International Inc. (NYSE:PM) has risen 12.17% since February 8, 2016 and is uptrending. It has underperformed by 4.32% the S&P500.

Vontobel Asset Management Inc, which manages about $44.19B and $12.96B US Long portfolio, upped its stake in Celgene Corp (NASDAQ:CELG) by 361,656 shares to 2.62M shares, valued at $273.05 million in 2016Q2, according to the filing. It also increased its holding in Mastercard Inc (NYSE:MA) by 1.10 million shares in the quarter, for a total of 6.16 million shares, and has risen its stake in Bristol Myers Squibb Co (NYSE:BMY).

Vontobel Asset Management Inc is a New York-based institutional investor with more than $44.19 billion AUM in July, 2014. This fund invests only a small percentage of its assets in equities and options. Vontobel Asset Management Inc is the 98th largest institutional investor in our database. Taken from Vontobel Asset Management latest Adv, the fund reported to have 59 full and part-time employees. Among which 18 performing investment advisory and research functions. The institutional investor had between 26-100 clients.

The institutional sentiment decreased to 0.89 in Q2 2016. Its down 0.08, from 0.97 in 2016Q1. The ratio dived, as 49 funds sold all PM shares owned while 543 reduced positions. 80 funds bought stakes while 448 increased positions. They now own 1.08 billion shares or 2.46% less from 1.11 billion shares in 2016Q1.

Maverick Capital Ltd holds 8.08% of its portfolio in PM for 5.85 million shares. St. James Investment Company Llc owns 625,721 shares or 8.06% of their US portfolio. Moreover, Csu Producer Resources Inc. has 7.71% invested in the company for 12,000 shares. The United Kingdom-based Fundsmith Llp has invested 7.3% in the stock. Independent Franchise Partners Llp, a United Kingdom-based fund reported 5.99 million shares.

Out of 11 analysts covering Philip Morris International Inc. (NYSE:PM), 6 rate it a “Buy”, 0 “Sell”, while 5 “Hold”. This means 55% are positive. Philip Morris International Inc. has been the topic of 15 analyst reports since September 16, 2015 according to StockzIntelligence Inc. Citigroup initiated the stock on September 13 with “Neutral” rating. SBG Securities upgraded the shares of PM in a report on July 20 to “Hold” rating. Lastly, Societe Generale upgraded the stock to “Hold” rating in an April 21 report.

Philip Morris International Inc. is a holding firm 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 has a market cap of $158.17 billion. The Company’s products are sold in over 180 markets. It has a 23.61 P/E ratio. The Company’s divisions include European Union; Eastern Europe, Middle East & Africa; Asia, and Latin America & Canada.

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