Quadrant Capital Group LLC decreased its stake in shares of EMC Corp. (NYSE:EMC) by 22.9% during the second quarter, Holdings Channel reports. The firm owned 5,066 shares of the information technology service provider’s stock after selling 1,508 shares during the period. Quadrant Capital Group LLC’s holdings in EMC Corp. were worth $128,000 at the end of the most recent reporting period.
Other hedge funds have also modified their holdings of the company. York Capital Management Global Advisors LLC increased its stake in shares of EMC Corp. by 30.4% in the first quarter. York Capital Management Global Advisors LLC now owns 11,013,526 shares of the information technology service provider’s stock valued at $293,510,000 after buying an additional 2,567,922 shares during the period. National Pension Service increased its stake in EMC Corp. by 4.2% in the first quarter. National Pension Service now owns 1,072,430 shares of the information technology service provider’s stock worth $28,580,000 after buying an additional 42,887 shares during the last quarter. Samlyn Capital LLC purchased a new stake in EMC Corp. during the first quarter worth about $79,006,000. ING Groep NV increased its stake in EMC Corp. by 28.1% in the second quarter. ING Groep NV now owns 3,154,961 shares of the information technology service provider’s stock worth $85,720,000 after buying an additional 692,916 shares during the last quarter. Finally, Whitebox Advisors LLC increased its stake in EMC Corp. by 25.3% in the second quarter. Whitebox Advisors LLC now owns 1,914,856 shares of the information technology service provider’s stock worth $52,027,000 after buying an additional 387,000 shares during the last quarter. 79.86% of the stock is currently owned by institutional investors.
Shares of EMC Corp. (NYSE:EMC) remained flat at $29.05 on Friday. The firm’s 50 day moving average is $28.53 and its 200 day moving average is $27.32. EMC Corp. has a 52-week low of $22.99 and a 52-week high of $29.00.
EMC Corp. (NYSE:EMC) last announced its quarterly earnings data on Monday, July 18th. The information technology service provider reported $0.45 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.42 by $0.03. EMC Corp. had a return on equity of 11.98% and a net margin of 8.55%. The company had revenue of $6 billion for the quarter, compared to analyst estimates of $6 billion. During the same quarter in the previous year, the company earned $0.43 EPS. The firm’s revenue for the quarter was up .3% compared to the same quarter last year. On average, equities research analysts predict that EMC Corp. will post $1.84 earnings per share for the current fiscal year.
A number of analysts have issued reports on the company. Oppenheimer Holdings Inc. reaffirmed a “buy” rating on shares of EMC Corp. in a research note on Thursday, September 8th. Robert W. Baird reaffirmed a “hold” rating on shares of EMC Corp. in a research note on Sunday, September 11th. Wells Fargo & Co. reaffirmed a “market perform” rating on shares of EMC Corp. in a research note on Wednesday, August 31st. Hilliard Lyons downgraded EMC Corp. from a “buy” rating to a “neutral” rating in a research note on Thursday, September 1st. Finally, Deutsche Bank AG lifted their price objective on EMC Corp. from $27.00 to $29.00 and gave the stock a “hold” rating in a research note on Thursday, August 25th. One research analyst has rated the stock with a sell rating, eighteen have assigned a hold rating and eight have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $30.28.
EMC Corp. Company Profile
EMC Corporation (EMC) develops, delivers and supports the information technology (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, Pivotal and Virtustream.
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