Eagle Ridge Investment Management Lowers stake in EMC Corporation (EMC)

EMC Corporation (EMC) : Eagle Ridge Investment Management reduced its stake in EMC Corporation by 0.09% during the most recent quarter end. The investment management company now holds a total of 139,998 shares of EMC Corporation which is valued at $3,719,747 after selling 124 shares in EMC Corporation , the firm said in a disclosure report filed with the SEC on Apr 21, 2016.EMC Corporation makes up approximately 0.85% of Eagle Ridge Investment Management’s portfolio.

EMC Corporation closed down -0.01 points or -0.04% at $26.47 with 1,16,66,570 shares getting traded on Wednesday. Post opening the session at $26.45, the shares hit an intraday low of $26.285 and an intraday high of $26.51 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.

Other Hedge Funds, Including , Strs Ohio sold out all of its stake in EMC during the most recent quarter. The investment firm sold 3,535,057 shares of EMC which is valued $93,926,464.Boston Advisors reduced its stake in EMC by selling 5,000 shares or 26.45% in the most recent quarter. The Hedge Fund company now holds 13,902 shares of EMC which is valued at $369,376. EMC Corporation makes up approx 0.01% of Boston Advisors’s portfolio.Cornerstone Investment Partners reduced its stake in EMC by selling 126,232 shares or 62.94% in the most recent quarter. The Hedge Fund company now holds 74,328 shares of EMC which is valued at $1,974,895. EMC Corporation makes up approx 0.06% of Cornerstone Investment Partners’s portfolio.Bridge Creek Capital Management boosted its stake in EMC in the latest quarter, The investment management firm added 250 additional shares and now holds a total of 10,170 shares of EMC Corporation which is valued at $259,844. EMC Corporation makes up approx 0.15% of Bridge Creek Capital Management’s portfolio.Chevy Chase Trust Holdings boosted its stake in EMC in the latest quarter, The investment management firm added 44,678 additional shares and now holds a total of 1,659,523 shares of EMC Corporation which is valued at $42,782,503. EMC Corporation makes up approx 0.25% of Chevy Chase Trust Holdings’s portfolio.

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.

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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