Insider Selling: Howard Elias Unloads 25,000 Shares of EMC Corp. Stock (EMC)
EMC Corp. (NYSE:EMC) COO Howard Elias unloaded 25,000 shares of the stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $26.52, for a total transaction of $663,000.00. Following the transaction, the chief operating officer now directly owns 763,785 shares in the company. The sale was disclosed in a filing with the SEC, which can be accessed through this link.
EMC has been the subject of a number of recent research reports. Analysts at TheStreet reiterated a “buy” rating on shares of EMC Corp. (NYSE:EMC) in a research note to investors on Monday, August 19th. Separately, analysts at Brean Capital reiterated a “buy” rating on shares of EMC Corp. (NYSE:EMC) in a research note to investors on Monday, August 19th. They now have a $31.00 price target on the stock.
Six research analysts have rated the stock with a hold rating and twenty-eight have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $29.57.
Shares of EMC Corp. (NYSE:EMC) traded up 0.90% on Tuesday, hitting $26.97. 12,451,204 shares of the company’s stock traded hands. EMC Corp. has a 52-week low of $21.45 and a 52-week high of $28.18. The stock’s 50-day moving average is $26.23 and its 200-day moving average is $24.44. The company has a market cap of $56.121 billion and a price-to-earnings ratio of 21.16.
EMC Corp. (NYSE:EMC) last posted its quarterly earnings results on Wednesday, July 24th. The company reported $0.42 EPS for the quarter, meeting the Thomson Reuters consensus estimate of $0.42. The company had revenue of $5.61 billion for the quarter, compared to the consensus estimate of $5.61 billion. During the same quarter in the prior year, the company posted $0.39 earnings per share. The company’s quarterly revenue was up 5.7% on a year-over-year basis. Analysts expect that EMC Corp. will post $1.86 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Wednesday, October 23rd. Investors of record on Tuesday, October 1st will be given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 1.48%. The ex-dividend date of this dividend is Friday, September 27th.
EMC Corporation (NYSE:EMC), and its subsidiaries develop, deliver and support the Information Technology (IT) industry’s range of information infrastructure and virtual infrastructure technologies, solutions and services.
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