Nordea Investment Management Ab buys $694,753,978 stake in EMC Corporation (EMC)

EMC Corporation (EMC) : Nordea Investment Management Ab scooped up 2,206,074 additional shares in EMC Corporation during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Jul 19, 2016. The investment management firm now holds a total of 24,662,903 shares of EMC Corporation which is valued at $694,753,978.EMC Corporation makes up approximately 1.97% of Nordea Investment Management Ab’s portfolio.

Other Hedge Funds, Including , Naples Global Advisors reduced its stake in EMC by selling 7,916 shares or 24.07% in the most recent quarter. The Hedge Fund company now holds 24,969 shares of EMC which is valued at $687,397. EMC Corporation makes up approx 0.28% of Naples Global Advisors’s portfolio.Tt International boosted its stake in EMC in the latest quarter, The investment management firm added 240,077 additional shares and now holds a total of 491,077 shares of EMC Corporation which is valued at $13,519,350. EMC Corporation makes up approx 4.39% of Tt International’s portfolio.Curbstone Financial Management Corp reduced its stake in EMC by selling 1,300 shares or 3.31% in the most recent quarter. The Hedge Fund company now holds 37,928 shares of EMC which is valued at $1,043,399. EMC Corporation makes up approx 0.35% of Curbstone Financial Management Corp’s portfolio.

EMC Corporation opened for trading at $28.09 and hit $28.21 on the upside on Wednesday, eventually ending the session at $28.17, with a gain of 0.21% or 0.06 points. The heightened volatility saw the trading volume jump to 1,41,02,674 shares. Company has a market cap of $55,022 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 Raymond James to ” Mkt Perform” on Jul 18, 2016. EMC Corporation was Downgraded by Macquarie to ” Neutral” on Jul 13, 2016. Mizuho Downgraded EMC Corporation on Jul 12, 2016 to ” Neutral”, Price Target of the shares are set at $29.50.

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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