LMR Partners LLP Sells 37,125 Shares of Symantec Corporation (SYMC)
LMR Partners LLP cut its stake in Symantec Corporation (NASDAQ:SYMC) by 72.3% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 14,243 shares of the technology company’s stock after selling 37,125 shares during the quarter. LMR Partners LLP’s holdings in Symantec were worth $467,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently made changes to their positions in the company. US Bancorp DE grew its position in Symantec by 1.2% during the second quarter. US Bancorp DE now owns 76,723 shares of the technology company’s stock worth $2,168,000 after buying an additional 890 shares in the last quarter. Russell Investments Group Ltd. grew its position in Symantec by 15.7% during the second quarter. Russell Investments Group Ltd. now owns 1,457,932 shares of the technology company’s stock worth $41,185,000 after buying an additional 197,658 shares in the last quarter. Sumitomo Mitsui Asset Management Company LTD grew its position in Symantec by 164.6% during the second quarter. Sumitomo Mitsui Asset Management Company LTD now owns 137,566 shares of the technology company’s stock worth $3,886,000 after buying an additional 85,583 shares in the last quarter. Moody Lynn & Lieberson LLC purchased a new position in Symantec during the second quarter worth about $283,000. Finally, Wealth Enhancement Advisory Services LLC grew its position in Symantec by 73.0% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 46,164 shares of the technology company’s stock worth $1,339,000 after buying an additional 19,487 shares in the last quarter. Institutional investors own 85.64% of the company’s stock.
In related news, CFO Nicholas R. Noviello sold 375,000 shares of the business’s stock in a transaction dated Monday, November 6th. The stock was sold at an average price of $29.38, for a total transaction of $11,017,500.00. Following the transaction, the chief financial officer now owns 565,319 shares in the company, valued at approximately $16,609,072.22. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Roxane Divol sold 15,111 shares of the business’s stock in a transaction dated Tuesday, September 12th. The shares were sold at an average price of $33.05, for a total value of $499,418.55. Following the transaction, the executive vice president now owns 114,940 shares in the company, valued at approximately $3,798,767. The disclosure for this sale can be found here. In the last three months, insiders sold 453,627 shares of company stock valued at $13,477,603. 1.30% of the stock is currently owned by corporate insiders.
Several research firms recently commented on SYMC. Cowen Inc cut Symantec from a “market perform” rating to an “underperform” rating and set a $31.00 target price for the company. in a research report on Monday, October 9th. Standpoint Research lowered Symantec from a “buy” rating to a “hold” rating in a research note on Monday, October 9th. Zacks Investment Research lowered Symantec from a “hold” rating to a “sell” rating in a research note on Monday, October 9th. Piper Jaffray Companies reaffirmed a “buy” rating and set a $40.00 price target on shares of Symantec in a research note on Tuesday, September 12th. Finally, Morgan Stanley lowered Symantec from an “overweight” rating to an “equal weight” rating and dropped their price target for the stock from $37.00 to $34.00 in a research note on Tuesday, October 10th. Two research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and nine have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $32.39.
Shares of Symantec Corporation (SYMC) opened at $28.56 on Monday. Symantec Corporation has a 52 week low of $23.34 and a 52 week high of $34.20. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 1.72. The firm has a market capitalization of $17,706.69, a PE ratio of 45.33, a PEG ratio of 2.88 and a beta of 1.13.
Symantec (NASDAQ:SYMC) last released its earnings results on Wednesday, November 1st. The technology company reported $0.40 earnings per share for the quarter, beating analysts’ consensus estimates of $0.26 by $0.14. Symantec had a positive return on equity of 12.33% and a negative net margin of 5.29%. The company had revenue of $1.28 billion during the quarter, compared to analyst estimates of $1.27 billion. During the same quarter in the previous year, the company posted $0.30 EPS. Symantec’s revenue for the quarter was up 25.7% on a year-over-year basis. analysts expect that Symantec Corporation will post 1.05 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 13th. Stockholders of record on Monday, November 20th will be paid a $0.075 dividend. This represents a $0.30 dividend on an annualized basis and a dividend yield of 1.05%. The ex-dividend date is Friday, November 17th. Symantec’s dividend payout ratio (DPR) is presently -75.00%.
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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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