Violich Capital Management buys $48,952,969 stake in EMC Corporation (EMC)

EMC Corporation (EMC) : Violich Capital Management scooped up 1,375 additional shares in EMC Corporation during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 9, 2016. The investment management firm now holds a total of 1,788,563 shares of EMC Corporation which is valued at $48,952,969.EMC Corporation makes up approximately 15.83% of Violich Capital Management’s portfolio.

Other Hedge Funds, Including , Neuberger Berman Group reduced its stake in EMC by selling 4,506,245 shares or 85.52% in the most recent quarter. The Hedge Fund company now holds 762,834 shares of EMC which is valued at $20,169,331. EMC Corporation makes up approx 0.03% of Neuberger Berman Group’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 $3,117,831. EMC Corporation makes up approx 0.72% of Strategic Financial Services Inc’s portfolio.Schwab Charles Investment Management Inc boosted its stake in EMC in the latest quarter, The investment management firm added 141,603 additional shares and now holds a total of 5,583,222 shares of EMC Corporation which is valued at $147,620,390. EMC Corporation makes up approx 0.19% of Schwab Charles Investment Management Inc’s portfolio. American National Bank sold out all of its stake in EMC during the most recent quarter. The investment firm sold 83 shares of EMC which is valued $2,167.

EMC Corporation opened for trading at $27.02 and hit $27.44 on the upside on Friday, eventually ending the session at $27.37, with a gain of 1.22% or 0.33 points. The heightened volatility saw the trading volume jump to 1,60,87,829 shares. Company has a market cap of $53,459 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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