Northpointe Capital LLC acquired a new position in Symantec Corporation (NASDAQ:SYMC) during the second quarter, Holdings Channel reports. The institutional investor acquired 65,737 shares of the technology company’s stock, valued at approximately $1,857,000.

Several other institutional investors have also recently added to or reduced their stakes in SYMC. IFP Advisors Inc increased its position in Symantec Corporation by 0.3% in the first quarter. IFP Advisors Inc now owns 6,283 shares of the technology company’s stock worth $193,000 after buying an additional 19 shares during the period. Bessemer Group Inc. increased its position in Symantec Corporation by 1.2% in the second quarter. Bessemer Group Inc. now owns 9,311 shares of the technology company’s stock worth $263,000 after buying an additional 106 shares during the period. Mason Street Advisors LLC increased its position in Symantec Corporation by 0.3% in the first quarter. Mason Street Advisors LLC now owns 85,518 shares of the technology company’s stock worth $2,624,000 after buying an additional 237 shares during the period. Wetherby Asset Management Inc. increased its position in Symantec Corporation by 2.8% in the second quarter. Wetherby Asset Management Inc. now owns 8,885 shares of the technology company’s stock worth $251,000 after buying an additional 246 shares during the period. Finally, Greenwood Capital Associates LLC increased its position in Symantec Corporation by 1.7% in the first quarter. Greenwood Capital Associates LLC now owns 15,210 shares of the technology company’s stock worth $467,000 after buying an additional 255 shares during the period. Institutional investors own 93.40% of the company’s stock.

Shares of Symantec Corporation (NASDAQ:SYMC) opened at 28.04 on Friday. Symantec Corporation has a 52 week low of $22.76 and a 52 week high of $33.22. The firm’s market cap is $17.18 billion. The firm’s 50-day moving average price is $29.55 and its 200-day moving average price is $29.83.

Symantec Corporation (NASDAQ:SYMC) last posted its quarterly earnings results on Wednesday, August 2nd. The technology company reported $0.15 EPS for the quarter, beating the consensus estimate of $0.12 by $0.03. The firm had revenue of $1.23 billion during the quarter, compared to analysts’ expectations of $1.20 billion. Symantec Corporation had a positive return on equity of 10.73% and a negative net margin of 8.68%. The company’s revenue for the quarter was up 38.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.29 EPS. Equities research analysts expect that Symantec Corporation will post $1.80 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 13th. Shareholders of record on Monday, August 21st will be issued a $0.075 dividend. The ex-dividend date of this dividend is Thursday, August 17th. This represents a $0.30 annualized dividend and a yield of 1.07%. Symantec Corporation’s dividend payout ratio (DPR) is -49.18%.

TRADEMARK VIOLATION WARNING: This article was originally published by Watch List News and is the sole property of of Watch List News. If you are reading this article on another website, it was stolen and republished in violation of United States & international copyright law. The legal version of this article can be read at https://www.watchlistnews.com/northpointe-capital-llc-acquires-shares-of-65737-symantec-corporation-symc/1502696.html.

A number of equities analysts have recently commented on the company. UBS AG downgraded Symantec Corporation from a “buy” rating to a “neutral” rating and raised their price objective for the stock from $31.00 to $33.00 in a report on Thursday, May 18th. Robert W. Baird restated a “hold” rating on shares of Symantec Corporation in a report on Saturday, June 10th. Evercore ISI set a $25.00 price objective on Symantec Corporation and gave the stock a “hold” rating in a report on Saturday, June 10th. BidaskClub downgraded Symantec Corporation from a “hold” rating to a “sell” rating in a report on Thursday. Finally, Zacks Investment Research upgraded Symantec Corporation from a “strong sell” rating to a “buy” rating and set a $32.00 price objective on the stock in a report on Tuesday, July 11th. Two equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating and thirteen have assigned a buy rating to the stock. Symantec Corporation presently has an average rating of “Hold” and a consensus price target of $31.00.

In other Symantec Corporation news, Director Suzanne M. Vautrinot sold 2,500 shares of the company’s stock in a transaction that occurred on Monday, July 3rd. The stock was sold at an average price of $28.45, for a total value of $71,125.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Michael David Fey sold 1,348,831 shares of the company’s stock in a transaction that occurred on Tuesday, August 8th. The shares were sold at an average price of $28.84, for a total value of $38,900,286.04. Following the completion of the transaction, the insider now directly owns 1,605,757 shares of the company’s stock, valued at approximately $46,310,031.88. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,475,916 shares of company stock valued at $42,723,358. Insiders own 0.76% of the company’s stock.

Symantec Corporation Company Profile

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.

Want to see what other hedge funds are holding SYMC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Symantec Corporation (NASDAQ:SYMC).

Institutional Ownership by Quarter for Symantec Corporation (NASDAQ:SYMC)

Receive News & Ratings for Symantec Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Symantec Corporation and related companies with Analyst Ratings Network's FREE daily email newsletter.