Symantec Corporation (NASDAQ:SYMC) insider Michael David Fey sold 1,348,831 shares of Symantec Corporation stock in a transaction that occurred on Tuesday, August 8th. The shares were sold at an average price of $28.84, for a total transaction of $38,900,286.04. Following the transaction, the insider now directly owns 1,605,757 shares in the company, valued at approximately $46,310,031.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Shares of Symantec Corporation (NASDAQ SYMC) traded up 0.39% during midday trading on Wednesday, reaching $28.60. 10,840,011 shares of the company traded hands. The stock has a 50 day moving average price of $29.53 and a 200 day moving average price of $29.72. The firm’s market capitalization is $17.42 billion. Symantec Corporation has a 1-year low of $20.47 and a 1-year high of $33.22.

Symantec Corporation (NASDAQ:SYMC) last issued its earnings results on Wednesday, August 2nd. The technology company reported $0.15 earnings per share (EPS) for the quarter, topping 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 business had revenue of $1.23 billion during the quarter, compared to the consensus estimate of $1.20 billion. During the same period last year, the company earned $0.29 EPS. The company’s revenue for the quarter was up 38.9% on a year-over-year basis. Analysts expect that Symantec Corporation will post $1.80 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 13th. Shareholders of record on Monday, August 21st 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 of this dividend is Thursday, August 17th. Symantec Corporation’s dividend payout ratio (DPR) is presently -49.18%.

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SYMC has been the topic of several analyst reports. Zacks Investment Research raised shares of Symantec Corporation from a “sell” rating to a “hold” rating in a report on Tuesday, April 18th. OTR Global raised shares of Symantec Corporation to a “positive” rating in a report on Friday, April 21st. First Analysis raised shares of Symantec Corporation from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $28.00 to $40.00 in a report on Thursday, May 11th. Robert W. Baird reaffirmed a “hold” rating on shares of Symantec Corporation in a report on Thursday, May 11th. Finally, Stifel Nicolaus reaffirmed a “hold” rating and set a $29.00 price target (up previously from $28.00) on shares of Symantec Corporation in a report on Thursday, May 11th. One analyst has rated the stock with a sell rating, fifteen have issued a hold rating and thirteen have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $31.00.

Hedge funds have recently modified their holdings of the company. Hollencrest Securities LLC acquired a new stake in shares of Symantec Corporation during the first quarter worth about $600,000. Candriam Luxembourg S.C.A. increased its stake in shares of Symantec Corporation by 18.7% in the first quarter. Candriam Luxembourg S.C.A. now owns 38,183 shares of the technology company’s stock worth $1,172,000 after buying an additional 6,018 shares during the last quarter. Retirement Systems of Alabama increased its stake in shares of Symantec Corporation by 1.2% in the first quarter. Retirement Systems of Alabama now owns 299,133 shares of the technology company’s stock worth $9,177,000 after buying an additional 3,647 shares during the last quarter. State of Alaska Department of Revenue acquired a new stake in shares of Symantec Corporation during the first quarter worth about $782,000. Finally, Ledyard National Bank acquired a new stake in shares of Symantec Corporation during the first quarter worth about $295,000. 93.82% of the stock is 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.

Insider Buying and Selling by Quarter for Symantec Corporation (NASDAQ:SYMC)

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