Columbia Partners L L C Investment Management Invests $1.67 Million in Symantec Corporation (SYMC) Stock
Columbia Partners L L C Investment Management acquired a new position in Symantec Corporation (NASDAQ:SYMC) in the second quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 59,066 shares of the technology company’s stock, valued at approximately $1,668,000.
A number of other institutional investors have also recently bought and sold shares of the stock. Northwestern Mutual Wealth Management Co. boosted its stake in shares of Symantec Corporation by 7.9% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 3,982 shares of the technology company’s stock valued at $112,000 after buying an additional 292 shares during the period. Johnson Financial Group Inc. boosted its stake in shares of Symantec Corporation by 6.2% during the 2nd quarter. Johnson Financial Group Inc. now owns 5,596 shares of the technology company’s stock valued at $158,000 after buying an additional 325 shares during the period. Yakira Capital Management Inc. acquired a new stake in shares of Symantec Corporation during the 1st quarter valued at $217,000. Global Financial Private Capital LLC acquired a new stake in shares of Symantec Corporation during the 1st quarter valued at $230,000. Finally, Wetherby Asset Management Inc. boosted its stake in shares of Symantec Corporation by 2.8% during the 2nd quarter. Wetherby Asset Management Inc. now owns 8,885 shares of the technology company’s stock valued at $251,000 after buying an additional 246 shares during the period. 91.65% of the stock is owned by hedge funds and other institutional investors.
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In other Symantec Corporation news, Director Anita M. Sands sold 2,000 shares of the stock in a transaction dated Monday, September 18th. The shares were sold at an average price of $33.51, for a total transaction of $67,020.00. Following the sale, the director now directly owns 37,386 shares in the company, valued at $1,252,804.86. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Roxane Divol sold 15,111 shares of the stock in a transaction dated Tuesday, September 12th. The stock was sold at an average price of $33.05, for a total transaction of $499,418.55. Following the sale, the executive vice president now owns 114,940 shares in the company, valued at $3,798,767. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,679,228 shares of company stock worth $48,889,078. 1.30% of the stock is owned by insiders.
A number of equities research analysts have issued reports on SYMC shares. Moffett Nathanson started coverage on shares of Symantec Corporation in a research note on Wednesday, September 6th. They set a “neutral” rating and a $33.00 target price for the company. Standpoint Research raised shares of Symantec Corporation from a “hold” rating to a “buy” rating in a research note on Thursday, June 29th. Barclays PLC raised shares of Symantec Corporation from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $34.00 to $38.00 in a research note on Tuesday, May 30th. Credit Suisse Group started coverage on shares of Symantec Corporation in a research note on Tuesday, September 5th. They set an “outperform” rating and a $36.00 target price for the company. Finally, Royal Bank Of Canada reissued a “hold” rating and set a $32.00 target price on shares of Symantec Corporation in a research note on Monday, July 31st. One research analyst has rated the stock with a sell rating, sixteen have issued a hold rating and thirteen have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $31.54.
Shares of Symantec Corporation (NASDAQ:SYMC) traded down 0.29% during mid-day trading on Wednesday, hitting $34.06. 202,107 shares of the stock traded hands. The company’s 50 day moving average is $30.14 and its 200 day moving average is $30.21. Symantec Corporation has a one year low of $22.76 and a one year high of $34.20. The firm’s market capitalization is $20.87 billion.
Symantec Corporation (NASDAQ:SYMC) last released its quarterly earnings results on Wednesday, August 2nd. The technology company reported $0.15 EPS for the quarter, topping analysts’ consensus estimates of $0.12 by $0.03. Symantec Corporation had a negative net margin of 8.68% and a positive return on equity of 10.73%. The business had revenue of $1.23 billion for the quarter, compared to analyst estimates of $1.20 billion. During the same period last year, the firm earned $0.29 earnings per share. Symantec Corporation’s revenue for the quarter was up 38.9% compared to the same quarter last year. On average, equities analysts expect that Symantec Corporation will post $1.81 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 13th. Investors of record on Monday, August 21st were given a dividend of $0.075 per share. This represents a $0.30 dividend on an annualized basis and a yield of 0.88%. The ex-dividend date was Thursday, August 17th. Symantec Corporation’s dividend payout ratio is -49.18%.
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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