Patriot Wealth Management buys $5,887,153 stake in EMC Corporation (EMC)

EMC Corporation (EMC) : Patriot Wealth Management scooped up 4,515 additional shares in EMC Corporation 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 207,733 shares of EMC Corporation which is valued at $5,887,153.EMC Corporation makes up approximately 1.13% of Patriot Wealth Management’s portfolio.

Other Hedge Funds, Including , American Century Companies Inc boosted its stake in EMC in the latest quarter, The investment management firm added 17,650 additional shares and now holds a total of 4,680,785 shares of EMC Corporation which is valued at $132,653,447. EMC Corporation makes up approx 0.15% of American Century Companies Inc’s portfolio.Dowling Yahnke reduced its stake in EMC by selling 7,927 shares or 7.86% in the most recent quarter. The Hedge Fund company now holds 92,937 shares of EMC which is valued at $2,640,340. EMC Corporation makes up approx 0.31% of Dowling Yahnke’s portfolio. Eagle Ridge Investment Management sold out all of its stake in EMC during the most recent quarter. The investment firm sold 139,998 shares of EMC which is valued $3,977,343. Jacobs Coca sold out all of its stake in EMC during the most recent quarter. The investment firm sold 62,808 shares of EMC which is valued $1,729,104.Watch Point Trust Co reduced its stake in EMC by selling 5,940 shares or 18.37% in the most recent quarter. The Hedge Fund company now holds 26,394 shares of EMC which is valued at $726,099. EMC Corporation makes up approx 0.62% of Watch Point Trust Co’s portfolio.

EMC Corporation closed down -0.06 points or -0.21% at $28.28 with 1,04,78,159 shares getting traded on Friday. Post opening the session at $28.23, the shares hit an intraday low of $28.23 and an intraday high of $28.39 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

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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