Tower Square Investment Management Lowers stake in EMC Corporation (EMC)

EMC Corporation (EMC) : Tower Square Investment Management reduced its stake in EMC Corporation by 5.63% during the most recent quarter end. The investment management company now holds a total of 69,211 shares of EMC Corporation which is valued at $1.9 Million after selling 4,131 shares in EMC Corporation , the firm said in a disclosure report filed with the SEC on May 12, 2016.EMC Corporation makes up approximately 0.98% of Tower Square Investment Management’s portfolio.

Other Hedge Funds, Including , Guardian Life Insurance Co Of America reduced its stake in EMC by selling 2,030 shares or 22.06% in the most recent quarter. The Hedge Fund company now holds 7,171 shares of EMC which is valued at $196,270. EMC Corporation makes up approx 0.04% of Guardian Life Insurance Co Of America’s portfolio.Essex Financial Services reduced its stake in EMC by selling 1,320 shares or 8.5% in the most recent quarter. The Hedge Fund company now holds 14,202 shares of EMC which is valued at $388,709. EMC Corporation makes up approx 0.10% of Essex Financial Services’s portfolio.Marco Investment Management boosted its stake in EMC in the latest quarter, The investment management firm added 2,000 additional shares and now holds a total of 20,550 shares of EMC Corporation which is valued at $562,454. EMC Corporation makes up approx 0.09% of Marco Investment Management’s portfolio.Bank Of The Ozarks reduced its stake in EMC by selling 122 shares or 0.55% in the most recent quarter. The Hedge Fund company now holds 22,109 shares of EMC which is valued at $584,562. EMC Corporation makes up approx 0.22% of Bank Of The Ozarks’s portfolio.Strategic Financial Services Inc boosted its stake in EMC in the latest quarter, The investment management firm added 2,026 additional shares and now holds a total of 117,921 shares of EMC Corporation which is valued at $3.1 Million. EMC Corporation makes up approx 0.72% of Strategic Financial Services Inc’s portfolio.

EMC Corporation opened for trading at $27.72 and hit $27.82 on the upside on Friday, eventually ending the session at $27.81, with a gain of 0.58% or 0.16 points. The heightened volatility saw the trading volume jump to 81,35,136 shares. Company has a market cap of $54,318 M.

On the company’s financial health, EMC Corporation reported $0.31 EPS for the quarter, missing the analyst consensus estimate by $ -0.02 based on the information available during the earnings call on Apr 20, 2016. Analyst had a consensus of $0.33. The company had revenue of $5475.00 million for the quarter, compared to analysts expectations of $5640.05 million. The company’s revenue was down -2.5 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.31 EPS.

Investors should note that on May 16, 2016, EMC Corporation announced a cash dividend of $0.1150. The company’s management has announced Jun 29, 2016 as the ex-dividend date and fixed the record date on Jul 1, 2016. The payable date has been fixed on Jul 22, 2016.

Many Wall Street Analysts have commented on EMC Corporation. Company shares were Reiterated by Deutsche Bank on Apr 21, 2016 to “Hold”, Firm has raised the Price Target to $ 27 from a previous price target of $26 .Company shares were Reiterated by Maxim Group on Apr 20, 2016 to “Hold”, Firm has raised the Price Target to $ 31.50 from a previous price target of $31 .EMC Corporation was Downgraded by Raymond James to ” Outperform” on Apr 7, 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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