Anita M. Sands Sells 2,000 Shares of Symantec Corporation (SYMC) Stock
Symantec Corporation (NASDAQ:SYMC) Director Anita M. Sands sold 2,000 shares of Symantec Corporation stock in a transaction on Monday, August 28th. The shares were sold at an average price of $30.00, for a total value of $60,000.00. Following the transaction, the director now directly owns 39,386 shares of the company’s stock, valued at $1,181,580. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.
Symantec Corporation (NASDAQ:SYMC) opened at 29.89 on Thursday. Symantec Corporation has a 52-week low of $22.76 and a 52-week high of $33.22. The firm’s market capitalization is $18.32 billion. The stock’s 50 day moving average price is $29.68 and its 200 day moving average price is $29.87.
Symantec Corporation (NASDAQ:SYMC) last announced its quarterly earnings results on Wednesday, August 2nd. The technology company reported $0.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.12 by $0.03. Symantec Corporation had a positive return on equity of 10.73% and a negative net margin of 8.68%. The company had revenue of $1.23 billion for the quarter, compared to the consensus estimate of $1.20 billion. During the same quarter in the previous year, the business earned $0.29 EPS. Symantec Corporation’s revenue was up 38.9% compared to the same quarter last year. On average, equities analysts anticipate that Symantec Corporation will post $1.81 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 13th. Investors of record on Monday, August 21st will be issued a dividend of $0.075 per share. The ex-dividend date is Thursday, August 17th. This represents a $0.30 dividend on an annualized basis and a yield of 1.00%. Symantec Corporation’s dividend payout ratio is presently -49.18%.
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Hedge funds and other institutional investors have recently made changes to their positions in the stock. Capital World Investors increased its position in shares of Symantec Corporation by 3.7% in the second quarter. Capital World Investors now owns 75,819,338 shares of the technology company’s stock worth $2,141,896,000 after buying an additional 2,695,567 shares in the last quarter. Vanguard Group Inc. increased its position in shares of Symantec Corporation by 1.3% in the second quarter. Vanguard Group Inc. now owns 61,195,217 shares of the technology company’s stock worth $1,728,766,000 after buying an additional 757,092 shares in the last quarter. BlackRock Inc. increased its position in shares of Symantec Corporation by 2,815.1% in the first quarter. BlackRock Inc. now owns 40,975,309 shares of the technology company’s stock worth $1,257,121,000 after buying an additional 39,569,694 shares in the last quarter. State Street Corp increased its position in shares of Symantec Corporation by 1.7% in the first quarter. State Street Corp now owns 27,978,710 shares of the technology company’s stock worth $858,386,000 after buying an additional 464,913 shares in the last quarter. Finally, Jackson Square Partners LLC increased its position in shares of Symantec Corporation by 5.0% in the second quarter. Jackson Square Partners LLC now owns 20,071,586 shares of the technology company’s stock worth $567,022,000 after buying an additional 964,537 shares in the last quarter. Institutional investors own 91.76% of the company’s stock.
SYMC has been the subject of a number of analyst reports. Standpoint Research raised Symantec Corporation from a “hold” rating to a “buy” rating in a report on Thursday, June 29th. Barclays PLC raised Symantec Corporation from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $34.00 to $38.00 in a report on Tuesday, May 30th. Zacks Investment Research cut Symantec Corporation from a “hold” rating to a “strong sell” rating in a report on Tuesday, May 16th. Morgan Stanley reissued an “overweight” rating and set a $37.00 price objective on shares of Symantec Corporation in a report on Thursday, July 13th. Finally, Royal Bank Of Canada reissued a “hold” rating and set a $32.00 price objective on shares of Symantec Corporation in a report on Monday, July 31st. One research analyst has rated the stock with a sell rating, fifteen have given a hold rating and thirteen have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $31.00.
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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