Investors Sell Shares of EMC Corp. (EMC) on Strength (EMC)
Investors sold shares of EMC Corp. (NYSE:EMC) on strength during trading on Tuesday. $90.61 million flowed into the stock on the tick-up and $162.71 million flowed out of the stock on the tick-down, for a money net flow of $72.10 million out of the stock. Of all equities tracked, EMC Corp. had the 8th highest net out-flow for the day. EMC Corp. traded up $0.57 for the day and closed at $28.11
A number of analysts recently commented on the stock. Zacks Investment Research cut shares of EMC Corp. from a “hold” rating to a “strong sell” rating in a research note on Tuesday. Robert W. Baird reiterated an “outperform” rating and issued a $29.00 target price (up from $28.00) on shares of EMC Corp. in a research note on Tuesday. Morgan Stanley cut shares of EMC Corp. from an “overweight” rating to an “equal weight” rating and lowered their target price for the stock from $69.00 to $60.00 in a research note on Wednesday, June 1st. Macquarie cut shares of EMC Corp. from an “outperform” rating to a “neutral” rating and set a $30.00 target price for the company. in a research note on Wednesday, July 13th. Finally, Raymond James Financial Inc. cut shares of EMC Corp. from an “outperform” rating to a “market perform” rating in a research note on Monday. One analyst has rated the stock with a sell rating, eighteen have issued a hold rating and fourteen have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $30.20.
The stock has a 50 day moving average price of $27.61 and a 200 day moving average price of $26.31. The firm has a market cap of $54.90 billion and a P/E ratio of 27.34.
EMC Corp. (NYSE:EMC) last posted its quarterly earnings data on Monday, July 18th. The information technology service provider reported $0.45 EPS for the quarter, topping analysts’ consensus estimates of $0.42 by $0.03. During the same quarter in the prior year, the business posted $0.43 EPS. The company had revenue of $6 billion for the quarter, compared to analysts’ expectations of $6 billion. The company’s revenue for the quarter was up .3% compared to the same quarter last year. Equities research analysts anticipate that EMC Corp. will post $1.80 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 22nd. Investors of record on Friday, July 1st will be given a dividend of $0.115 per share. This represents a $0.46 dividend on an annualized basis and a yield of 1.64%. The ex-dividend date is Wednesday, June 29th.
Other hedge funds recently bought and sold shares of the company. IndexIQ Advisors LLC bought a new stake in EMC Corp. during the fourth quarter worth approximately $4,706,000. Geneva Advisors LLC boosted its stake in EMC Corp. by 49.6% in the fourth quarter. Geneva Advisors LLC now owns 99,130 shares of the information technology service provider’s stock worth $2,546,000 after buying an additional 32,871 shares in the last quarter. Stonebridge Capital Advisors LLC boosted its stake in EMC Corp. by 2.1% in the fourth quarter. Stonebridge Capital Advisors LLC now owns 87,804 shares of the information technology service provider’s stock worth $2,255,000 after buying an additional 1,847 shares in the last quarter. Boys Arnold & Co. Inc. boosted its stake in EMC Corp. by 96.8% in the fourth quarter. Boys Arnold & Co. Inc. now owns 224,010 shares of the information technology service provider’s stock worth $5,753,000 after buying an additional 110,206 shares in the last quarter. Finally, Profund Advisors LLC boosted its stake in EMC Corp. by 18.6% in the fourth quarter. Profund Advisors LLC now owns 43,968 shares of the information technology service provider’s stock worth $1,129,000 after buying an additional 6,911 shares in the last quarter.
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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