Portland Global Advisors Lowers stake in EMC Corporation (EMC)

EMC Corporation (EMC) : Portland Global Advisors reduced its stake in EMC Corporation by 3.35% during the most recent quarter end. The investment management company now holds a total of 51,931 shares of EMC Corporation which is valued at $1,471,725 after selling 1,800 shares in EMC Corporation , the firm said in a disclosure report filed with the SEC on Jul 26, 2016.EMC Corporation makes up approximately 0.65% of Portland Global Advisors’s portfolio.

Other Hedge Funds, Including , Patriot Wealth Management boosted its stake in EMC in the latest quarter, The investment management firm added 4,515 additional shares and now holds a total of 207,733 shares of EMC Corporation which is valued at $5,887,153. EMC Corporation makes up approx 1.13% of Patriot Wealth Management’s portfolio.Robeco Institutional Asset Management B.v. boosted its stake in EMC in the latest quarter, The investment management firm added 24,390 additional shares and now holds a total of 184,074 shares of EMC Corporation which is valued at $5,229,542. EMC Corporation makes up approx 0.04% of Robeco Institutional Asset Management B.v.’s portfolio.Conestoga Capital Advisors reduced its stake in EMC by selling 100 shares or 1.07% in the most recent quarter. The Hedge Fund company now holds 9,225 shares of EMC which is valued at $262,082. EMC Corporation makes up approx 0.02% of Conestoga Capital Advisors’s portfolio.Cibc World Markets boosted its stake in EMC in the latest quarter, The investment management firm added 1,353 additional shares and now holds a total of 25,163 shares of EMC Corporation which is valued at $714,881.

EMC Corporation closed down -0.06 points or -0.21% at $28.28 with 1,04,78,159 shares getting traded on Friday. Post opening the session at $28.23, the shares hit an intraday low of $28.23 and an intraday high of $28.39 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

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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