Brookstone Capital Management boosted its holdings in shares of VMware, Inc. (NYSE:VMW – Get Rating) by 27.0% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 7,777 shares of the virtualization software provider’s stock after acquiring an additional 1,653 shares during the quarter. Brookstone Capital Management’s holdings in VMware were worth $883,000 at the end of the most recent quarter.
Other institutional investors have also recently bought and sold shares of the company. Zions Bancorporation N.A. boosted its position in VMware by 140.2% during the 1st quarter. Zions Bancorporation N.A. now owns 233 shares of the virtualization software provider’s stock worth $27,000 after acquiring an additional 136 shares during the period. Avondale Wealth Management acquired a new stake in VMware during the 1st quarter worth about $31,000. Rockbridge Investment Management LCC acquired a new stake in VMware during the 4th quarter worth about $33,000. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA acquired a new stake in VMware during the 4th quarter worth about $36,000. Finally, Trustcore Financial Services LLC acquired a new stake in VMware during the 1st quarter worth about $35,000. 47.04% of the stock is currently owned by institutional investors and hedge funds.
Analysts Set New Price Targets
Several equities research analysts have recently issued reports on the company. Piper Sandler lowered VMware from an “overweight” rating to a “neutral” rating and set a $142.50 price target for the company. in a report on Thursday, May 26th. Deutsche Bank Aktiengesellschaft lifted their price target on VMware from $135.00 to $142.50 in a report on Tuesday, May 31st. Royal Bank of Canada lowered VMware from an “outperform” rating to a “sector perform” rating in a report on Thursday, May 26th. Raymond James lowered VMware from an “outperform” rating to a “market perform” rating in a report on Wednesday, July 6th. Finally, StockNews.com upgraded VMware from a “buy” rating to a “strong-buy” rating in a report on Friday, August 26th. Twelve investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $139.91.
VMware Stock Performance
VMware (NYSE:VMW – Get Rating) last released its quarterly earnings data on Thursday, August 25th. The virtualization software provider reported $1.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.61 by $0.03. The business had revenue of $3.34 billion for the quarter, compared to analysts’ expectations of $3.30 billion. VMware had a return on equity of 80.84% and a net margin of 11.97%. VMware’s quarterly revenue was up 6.3% on a year-over-year basis. During the same period in the previous year, the business posted $1.18 earnings per share. Sell-side analysts forecast that VMware, Inc. will post 4.58 EPS for the current year.
VMware, Inc provides software solutions in the areas of modern applications, cloud management and infrastructure, networking, security, and digital workspaces in the United States and internationally. It offers VMware multi-cloud solutions, including VMware vSphere, a data center infrastructure that provides the fundamental compute layer; vSAN and VxRail, which offers holistic data storage and protection options to applications running on vSphere; and vRealize Cloud Management solutions that manages hybrid and multi-cloud environments running in virtual machines and containers, as well as VMware Cloud Foundation, a cloud platform that combines its vSphere, vSAN, and NSX with vRealize Cloud Management into an integrated stack and delivers enterprise-ready cloud infrastructure for private and public clouds.
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