Carret Asset Management Lowers stake in EMC Corporation (EMC)

EMC Corporation (EMC) : Carret Asset Management reduced its stake in EMC Corporation by 1.1% during the most recent quarter end. The investment management company now holds a total of 180,273 shares of EMC Corporation which is valued at $5,134,175 after selling 2,005 shares in EMC Corporation , the firm said in a disclosure report filed with the SEC on Aug 10, 2016.EMC Corporation makes up approximately 0.95% of Carret Asset Management’s portfolio.

Other Hedge Funds, Including , Clifford Swan Investment Counsel reduced its stake in EMC by selling 40 shares or 0.03% in the most recent quarter. The Hedge Fund company now holds 119,829 shares of EMC which is valued at $3,412,730. EMC Corporation makes up approx 0.23% of Clifford Swan Investment Counsel’s portfolio.Cibc Asset Management Inc boosted its stake in EMC in the latest quarter, The investment management firm added 9,448 additional shares and now holds a total of 196,599 shares of EMC Corporation which is valued at $5,544,092. EMC Corporation makes up approx 0.04% of Cibc Asset Management Inc’s portfolio.Rice Hall James Associates reduced its stake in EMC by selling 300 shares or 2.46% in the most recent quarter. The Hedge Fund company now holds 11,900 shares of EMC which is valued at $337,246. EMC Corporation makes up approx 0.02% of Rice Hall James Associates’s portfolio.Loring Wolcott Coolidge Fiduciary Advisors Llpma reduced its stake in EMC by selling 2,200 shares or 45.13% in the most recent quarter. The Hedge Fund company now holds 2,675 shares of EMC which is valued at $73,643.

EMC Corporation opened for trading at $28.51 and hit $28.72 on the upside on Friday, eventually ending the session at $28.71, with a gain of 0.60% or 0.17 points. The heightened volatility saw the trading volume jump to 2,55,55,325 shares. Company has a market cap of $56,181 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 Bernstein to ” Mkt Perform” on Jul 29, 2016. EMC Corporation was Resumed by Citigroup to “Neutral” on Jul 26, 2016. EMC Corporation was Downgraded by Raymond James to ” Mkt Perform” on Jul 18, 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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