Highland Capital Management Lowers stake in EMC Corporation (EMC)

EMC Corporation (EMC) : Highland Capital Management reduced its stake in EMC Corporation by 2.68% during the most recent quarter end. The investment management company now holds a total of 433,283 shares of EMC Corporation which is valued at $12,205,582 after selling 11,927 shares in EMC Corporation , the firm said in a disclosure report filed with the SEC on Jul 18, 2016.EMC Corporation makes up approximately 1.02% of Highland Capital Management’s portfolio.

Other Hedge Funds, Including , Braver Wealth Management reduced its stake in EMC by selling 5,704 shares or 22.2% in the most recent quarter. The Hedge Fund company now holds 19,994 shares of EMC which is valued at $550,435. EMC Corporation makes up approx 0.09% of Braver Wealth Management’s portfolio.Chevy Chase Trust Holdings boosted its stake in EMC in the latest quarter, The investment management firm added 25,652 additional shares and now holds a total of 1,685,175 shares of EMC Corporation which is valued at $46,359,164. EMC Corporation makes up approx 0.25% of Chevy Chase Trust Holdings’s portfolio.Osborn Rohs Williams Donohoe Ltd reduced its stake in EMC by selling 43,600 shares or 71.47% in the most recent quarter. The Hedge Fund company now holds 17,406 shares of EMC which is valued at $478,839. EMC Corporation makes up approx 0.09% of Osborn Rohs Williams Donohoe Ltd’s portfolio. Marshwinds Advisory Co added EMC to its portfolio by purchasing 8,000 company shares during the most recent quarter which is valued at $220,080. EMC Corporation makes up approx 0.11% of Marshwinds Advisory Co’s portfolio.

EMC Corporation opened for trading at $28.09 and hit $28.21 on the upside on Wednesday, eventually ending the session at $28.17, with a gain of 0.21% or 0.06 points. The heightened volatility saw the trading volume jump to 1,41,02,674 shares. Company has a market cap of $55,022 M.

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 Raymond James to ” Mkt Perform” on Jul 18, 2016. EMC Corporation was Downgraded by Macquarie to ” Neutral” on Jul 13, 2016. Mizuho Downgraded EMC Corporation on Jul 12, 2016 to ” Neutral”, Price Target of the shares are set at $29.50.

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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