Capital Investment Counsel Inc Lowers stake in EMC Corporation (EMC)

EMC Corporation (EMC) : Capital Investment Counsel Inc reduced its stake in EMC Corporation by 18.58% during the most recent quarter end. The investment management company now holds a total of 68,293 shares of EMC Corporation which is valued at $1,944,985 after selling 15,580 shares in EMC Corporation , the firm said in a disclosure report filed with the SEC on Aug 11, 2016.EMC Corporation makes up approximately 0.97% of Capital Investment Counsel Inc’s portfolio.

Other Hedge Funds, Including , Rhumbline Advisers boosted its stake in EMC in the latest quarter, The investment management firm added 185,372 additional shares and now holds a total of 2,983,975 shares of EMC Corporation which is valued at $84,983,608. EMC Corporation makes up approx 0.24% of Rhumbline Advisers’s portfolio. Trexquant Investment Lp sold out all of its stake in EMC during the most recent quarter. The investment firm sold 9,200 shares of EMC which is valued $262,016.Glenmede Trust Co Na reduced its stake in EMC by selling 36,637 shares or 9.04% in the most recent quarter. The Hedge Fund company now holds 368,441 shares of EMC which is valued at $10,474,778. EMC Corporation makes up approx 0.06% of Glenmede Trust Co Na’s portfolio.Windsor Financial Group reduced its stake in EMC by selling 2,496 shares or 1.23% in the most recent quarter. The Hedge Fund company now holds 199,792 shares of EMC which is valued at $5,502,272. EMC Corporation makes up approx 2.46% of Windsor Financial Group’s portfolio.Naples Global Advisors reduced its stake in EMC by selling 7,916 shares or 24.07% in the most recent quarter. The Hedge Fund company now holds 24,969 shares of EMC which is valued at $687,397. EMC Corporation makes up approx 0.28% of Naples Global Advisors’s portfolio.

EMC Corporation (EMC) witnessed a volatile trading activity on Tuesday , and eventually ended flat at 0.00% or 0 points without letting the bulls or bears take much advantage. The trading began at $28.65 and reached the intraday high at $28.7. The bulls started the profit booking and pushed the shares to intraday low of $28.34. The trading session was marked by a volume range of 1,59,93,647 shares exchanging hands. The 52-week high of the shares is $28.77 and the 52-week low is $22.66. The market cap of the company stands at $56,024 M and there are 1,95,68,42,100 shares in public circulation.

On the company’s financial health, EMC Corporation reported $0.45 EPS for the quarter, beating the analyst consensus estimate by $ 0.03 according to the earnings call on Jul 18, 2016. Analyst had a consensus of $0.42. The company had revenue of $6017.00 million for the quarter, compared to analysts expectations of $5999.00 million. The company’s revenue was up .3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.43 EPS.

Many Wall Street Analysts have commented on EMC Corporation. EMC Corporation was Downgraded by Bernstein to ” Mkt Perform” on Jul 29, 2016. EMC Corporation was Resumed by Citigroup to “Neutral” on Jul 26, 2016. EMC Corporation was Downgraded by Raymond James to ” Mkt Perform” on Jul 18, 2016.

EMC Corporation (EMC) is a service provider to information technology (IT) operations to an as a service model (ITaaS). It develops delivers and supports the IT industry’s range of information infrastructure and virtual infrastructure technologies solutions and services. EMC manages the Company as part of a federation of businesses: EMC Information Infrastructure VMware Virtual Infrastructure and Pivotal. EMC Information Infrastructure business consists of three divisons: Information Storage Enterprise Content Division and RSA Information Security. EMC Information Infrastructure provides a foundation for organizations to store manage protect analyze and secure quantities of information. VMware develops and markets its product and service offerings within three main product groups: Software-Defined Data Center Cloud Services and End-User Computing. Pivotal’s three offerings include the Pivotal Big Data Suite Pivotal Labs and Pivotal Cloud Foundry.

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