Anita M. Sands Sells 2,000 Shares of Symantec Corporation (NASDAQ:SYMC) Stock
Symantec Corporation (NASDAQ:SYMC) Director Anita M. Sands sold 2,000 shares of the firm’s stock in a transaction dated Wednesday, July 12th. The shares were sold at an average price of $30.00, for a total transaction of $60,000.00. Following the sale, the director now owns 43,386 shares of the company’s stock, valued at $1,301,580. The transaction was disclosed in a document filed with the SEC, which is accessible through this link.
Shares of Symantec Corporation (NASDAQ:SYMC) traded up 0.33% during midday trading on Monday, reaching $30.18. 456,834 shares of the company traded hands. Symantec Corporation has a 1-year low of $20.06 and a 1-year high of $33.22. The stock has a 50 day moving average price of $29.63 and a 200 day moving average price of $28.82. The firm’s market capitalization is $18.36 billion.
Symantec Corporation (NASDAQ:SYMC) last announced its quarterly earnings data on Wednesday, May 10th. The technology company reported $0.28 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.28. The company had revenue of $1.18 billion for the quarter, compared to analyst estimates of $1.18 billion. Symantec Corporation had a positive return on equity of 11.06% and a negative net margin of 2.64%. The firm’s revenue for the quarter was up 34.7% on a year-over-year basis. During the same quarter last year, the firm posted $0.22 EPS. Analysts expect that Symantec Corporation will post $1.79 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 21st. Shareholders of record on Wednesday, June 7th were issued a $0.075 dividend. The ex-dividend date was Monday, June 5th. This represents a $0.30 dividend on an annualized basis and a yield of 0.99%. Symantec Corporation’s payout ratio is currently -176.47%.
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SYMC has been the subject of a number of analyst reports. Morgan Stanley raised their price objective on shares of Symantec Corporation from $33.00 to $37.00 and gave the company an “overweight” rating in a research note on Wednesday, March 22nd. Zacks Investment Research upgraded shares of Symantec Corporation from a “sell” rating to a “hold” rating in a research note on Wednesday, April 5th. Wells Fargo & Company reiterated a “market perform” rating on shares of Symantec Corporation in a research note on Friday, April 7th. Barclays PLC set a $32.00 price target on shares of Symantec Corporation and gave the stock a “hold” rating in a research note on Monday, April 10th. Finally, OTR Global upgraded shares of Symantec Corporation to a “positive” rating in a research note on Friday, April 21st. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating and fifteen have given a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $30.79.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Thrivent Financial for Lutherans raised its position in shares of Symantec Corporation by 7.8% in the fourth quarter. Thrivent Financial for Lutherans now owns 21,684 shares of the technology company’s stock worth $518,000 after buying an additional 1,560 shares during the last quarter. Vident Investment Advisory LLC raised its position in shares of Symantec Corporation by 7.3% in the fourth quarter. Vident Investment Advisory LLC now owns 114,121 shares of the technology company’s stock worth $2,726,000 after buying an additional 7,800 shares during the last quarter. Dodge & Cox purchased a new position in shares of Symantec Corporation during the fourth quarter worth $180,155,000. Quadrature Capital Ltd raised its position in shares of Symantec Corporation by 131.3% in the fourth quarter. Quadrature Capital Ltd now owns 104,690 shares of the technology company’s stock worth $2,501,000 after buying an additional 59,427 shares during the last quarter. Finally, Orbis Allan Gray Ltd raised its position in shares of Symantec Corporation by 36.4% in the fourth quarter. Orbis Allan Gray Ltd now owns 5,584,719 shares of the technology company’s stock worth $133,419,000 after buying an additional 1,489,025 shares during the last quarter. Institutional investors own 94.02% of the company’s stock.
About Symantec Corporation
Symantec Corporation is a United States-based cyber security company. The Company offers products under categories, such as threat protection, information protection, cyber security services and Website security. Under threat protection, it offers Advanced Threat Protection, Endpoint Protection, Endpoint Protection Cloud, IT Management Suite, Email Security.Cloud, Data Center Security and Cloud Workload Protection products.
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