First Interstate Bank buys $8.4 Million stake in EMC Corporation (EMC)

EMC Corporation (EMC) : First Interstate Bank scooped up 638 additional shares in EMC Corporation during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 11, 2016. The investment management firm now holds a total of 306,034 shares of EMC Corporation which is valued at $8.4 Million.EMC Corporation makes up approximately 1.79% of First Interstate Bank’s portfolio.

Other Hedge Funds, Including , Bessemer Group Inc reduced its stake in EMC by selling 31,970 shares or 38.3% in the most recent quarter. The Hedge Fund company now holds 51,505 shares of EMC which is valued at $1.4 Million. EMC Corporation makes up approx 0.01% of Bessemer Group Inc’s portfolio. Westend Advisors sold out all of its stake in EMC during the most recent quarter. The investment firm sold 4,262,373 shares of EMC which is valued $116.7 Million. Roble Belko Company Inc sold out all of its stake in EMC during the most recent quarter. The investment firm sold 100 shares of EMC which is valued $2,737.Sva Plumb Wealth Management reduced its stake in EMC by selling 1,700 shares or 13.66% in the most recent quarter. The Hedge Fund company now holds 10,741 shares of EMC which is valued at $293,981. EMC Corporation makes up approx 0.05% of Sva Plumb Wealth Management’s portfolio.Alexandria Capital boosted its stake in EMC in the latest quarter, The investment management firm added 190,889 additional shares and now holds a total of 327,419 shares of EMC Corporation which is valued at $8.5 Million. EMC Corporation makes up approx 1.54% of Alexandria Capital’s portfolio.

EMC Corporation opened for trading at $27.36 and hit $27.85 on the upside on Monday, eventually ending the session at $27.78, with a gain of 1.50% or 0.41 points. The heightened volatility saw the trading volume jump to 1,95,74,554 shares. Company has a market cap of $54,260 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.

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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