Gregory S. Clark Sells 13,567 Shares of Symantec Corporation (SYMC) Stock
Symantec Corporation (NASDAQ:SYMC) CEO Gregory S. Clark sold 13,567 shares of the firm’s stock in a transaction that occurred on Thursday, August 31st. The shares were sold at an average price of $30.00, for a total transaction of $407,010.00. Following the sale, the chief executive officer now directly owns 1,148,805 shares of the company’s stock, valued at approximately $34,464,150. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
Shares of Symantec Corporation (NASDAQ SYMC) traded down 0.40% on Friday, hitting $29.86. 4,885,016 shares of the stock traded hands. Symantec Corporation has a one year low of $22.76 and a one year high of $33.22. The stock has a 50 day moving average of $29.77 and a 200 day moving average of $29.91. The company’s market cap is $18.30 billion.
Symantec Corporation (NASDAQ:SYMC) last posted its quarterly earnings data on Wednesday, August 2nd. The technology company reported $0.15 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.12 by $0.03. The business had revenue of $1.23 billion for the quarter, compared to the consensus estimate of $1.20 billion. Symantec Corporation had a negative net margin of 8.68% and a positive return on equity of 10.73%. The company’s revenue was up 38.9% compared to the same quarter last year. During the same period last year, the firm posted $0.29 earnings per share. Equities analysts anticipate that Symantec Corporation will post $1.81 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 13th. Shareholders of record on Monday, August 21st will be issued a dividend of $0.075 per share. This represents a $0.30 annualized dividend and a yield of 1.00%. The ex-dividend date is Thursday, August 17th. Symantec Corporation’s payout ratio is -49.18%.
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SYMC has been the subject of several analyst reports. Susquehanna Bancshares Inc initiated coverage on shares of Symantec Corporation in a research report on Wednesday, June 7th. They set a “neutral” rating and a $32.00 price target for the company. Evercore ISI set a $25.00 price target on shares of Symantec Corporation and gave the company a “hold” rating in a research report on Thursday, August 3rd. Robert W. Baird reissued a “hold” rating on shares of Symantec Corporation in a research report on Thursday, August 3rd. Barclays PLC reissued an “overweight” rating and set a $36.00 price target (down previously from $38.00) on shares of Symantec Corporation in a research report on Wednesday, August 9th. Finally, Citigroup Inc. reissued a “neutral” rating and set a $31.00 price target (up previously from $29.00) on shares of Symantec Corporation in a research report on Thursday, May 11th. One research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and thirteen have given a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $31.00.
Institutional investors have recently bought and sold shares of the stock. Westpac Banking Corp increased its position in Symantec Corporation by 69.2% in the first quarter. Westpac Banking Corp now owns 60,637 shares of the technology company’s stock valued at $1,115,000 after buying an additional 24,805 shares during the last quarter. Kwmg LLC increased its position in Symantec Corporation by 61.0% in the first quarter. Kwmg LLC now owns 56,378 shares of the technology company’s stock valued at $1,730,000 after buying an additional 21,367 shares during the last quarter. Spirit of America Management Corp NY increased its position in Symantec Corporation by 9.9% in the second quarter. Spirit of America Management Corp NY now owns 26,200 shares of the technology company’s stock valued at $740,000 after buying an additional 2,350 shares during the last quarter. Municipal Employees Retirement System of Michigan increased its position in Symantec Corporation by 1.5% in the first quarter. Municipal Employees Retirement System of Michigan now owns 20,120 shares of the technology company’s stock valued at $617,000 after buying an additional 290 shares during the last quarter. Finally, Affinity Investment Advisors LLC bought a new position in Symantec Corporation during the second quarter valued at about $6,839,000. 91.76% of the stock is currently owned by institutional investors and hedge funds.
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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