Penn Davis Mcfarland Inc Lowers stake in EMC Corporation (EMC)

EMC Corporation (EMC) : Penn Davis Mcfarland Inc reduced its stake in EMC Corporation by 7.53% during the most recent quarter end. The investment management company now holds a total of 565,422 shares of EMC Corporation which is valued at $15,571,722 after selling 46,068 shares in EMC Corporation , the firm said in a disclosure report filed with the SEC on Jul 15, 2016.EMC Corporation makes up approximately 4.10% of Penn Davis Mcfarland Inc’s portfolio.

Other Hedge Funds, Including , Ferguson Wellman Capital Management Inc reduced its stake in EMC by selling 3,875 shares or 0.54% in the most recent quarter. The Hedge Fund company now holds 718,644 shares of EMC which is valued at $19,791,456. EMC Corporation makes up approx 0.81% of Ferguson Wellman Capital Management Inc’s portfolio.First Manhattan Co reduced its stake in EMC by selling 1,753 shares or 14.26% in the most recent quarter. The Hedge Fund company now holds 10,543 shares of EMC which is valued at $290,354. Gierl Augustine Investment Management Inc sold out all of its stake in EMC during the most recent quarter. The investment firm sold 150 shares of EMC which is valued $4,130.Exxonmobil Investment Management Inc Tx boosted its stake in EMC in the latest quarter, The investment management firm added 31,527 additional shares and now holds a total of 505,585 shares of EMC Corporation which is valued at $13,908,643. EMC Corporation makes up approx 0.29% of Exxonmobil Investment Management Inc Tx’s portfolio.

EMC Corporation closed down -0.01 points or -0.04% at $27.54 with 2,67,30,914 shares getting traded on Monday. Post opening the session at $27.47, the shares hit an intraday low of $27.45 and an intraday high of $27.69 and the price fluctuated in this range throughout the day.Shares ended Monday 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 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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