Selway Asset Management Lowers stake in EMC Corporation (EMC)

EMC Corporation (EMC) : Selway Asset Management reduced its stake in EMC Corporation by 0.31% during the most recent quarter end. The investment management company now holds a total of 128,746 shares of EMC Corporation which is valued at $3,630,637 after selling 400 shares in EMC Corporation , the firm said in a disclosure report filed with the SEC on Aug 2, 2016.EMC Corporation makes up approximately 2.23% of Selway Asset Management’s portfolio.

Other Hedge Funds, Including , World Asset Management Inc boosted its stake in EMC in the latest quarter, The investment management firm added 2,971 additional shares and now holds a total of 198,045 shares of EMC Corporation which is valued at $5,584,869. EMC Corporation makes up approx 0.21% of World Asset Management Inc’s portfolio.Aberdeen Asset Management Plcuk reduced its stake in EMC by selling 18,745 shares or 1.36% in the most recent quarter. The Hedge Fund company now holds 1,355,374 shares of EMC which is valued at $38,221,547. EMC Corporation makes up approx 0.14% of Aberdeen Asset Management Plcuk’s portfolio.Umb Bank N Amo reduced its stake in EMC by selling 6,930 shares or 29.19% in the most recent quarter. The Hedge Fund company now holds 16,807 shares of EMC which is valued at $476,310. EMC Corporation makes up approx 0.02% of Umb Bank N Amo’s portfolio.Quadrant Capital Management reduced its stake in EMC by selling 3,050 shares or 3.96% in the most recent quarter. The Hedge Fund company now holds 74,006 shares of EMC which is valued at $2,102,510. EMC Corporation makes up approx 1.72% of Quadrant Capital Management’s portfolio.

EMC Corporation opened for trading at $28.42 and hit $28.47 on the upside on Monday, eventually ending the session at $28.45, with a gain of 0.07% or 0.02 points. The heightened volatility saw the trading volume jump to 91,71,433 shares. Company has a market cap of $55,568 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 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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