Retirement Systems of Alabama Boosts Stake in Symantec Corporation (SYMC)
Retirement Systems of Alabama lifted its position in Symantec Corporation (NASDAQ:SYMC) by 1.1% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 298,145 shares of the technology company’s stock after purchasing an additional 3,236 shares during the quarter. Retirement Systems of Alabama’s holdings in Symantec Corporation were worth $9,782,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Bessemer Group Inc. boosted its holdings in shares of Symantec Corporation by 1.2% in the 2nd quarter. Bessemer Group Inc. now owns 9,311 shares of the technology company’s stock worth $263,000 after purchasing an additional 106 shares in the last quarter. Wetherby Asset Management Inc. boosted its holdings in 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 acquiring an additional 246 shares during the period. Blair William & Co. IL boosted its holdings in Symantec Corporation by 2.2% during the 2nd quarter. Blair William & Co. IL now owns 13,309 shares of the technology company’s stock valued at $376,000 after acquiring an additional 291 shares during the period. Northwestern Mutual Wealth Management Co. boosted its holdings in 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 acquiring an additional 292 shares during the period. Finally, Johnson Financial Group Inc. boosted its holdings in 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 acquiring an additional 325 shares during the period. Hedge funds and other institutional investors own 90.39% of the company’s stock.
Symantec Corporation (NASDAQ:SYMC) opened at $28.04 on Friday. Symantec Corporation has a 52-week low of $23.20 and a 52-week high of $34.20. The company has a debt-to-equity ratio of 1.72, a quick ratio of 1.12 and a current ratio of 1.12. The firm has a market capitalization of $17,380.00, a P/E ratio of 44.60, a P/E/G ratio of 2.84 and a beta of 1.12.
Symantec Corporation (NASDAQ:SYMC) last posted its quarterly earnings data on Wednesday, November 1st. The technology company reported $0.40 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.26 by $0.14. Symantec Corporation 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 last year, the company earned $0.30 EPS. The firm’s revenue for the quarter was up 25.7% on a year-over-year basis. equities analysts forecast that Symantec Corporation will post 1.05 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 13th. Investors of record on Monday, November 20th will be given a dividend of $0.075 per share. This represents a $0.30 dividend on an annualized basis and a yield of 1.07%. The ex-dividend date of this dividend is Friday, November 17th. Symantec Corporation’s dividend payout ratio (DPR) is presently -51.72%.
In other Symantec Corporation news, SVP Amy L. Cappellanti-Wolf sold 927 shares of the stock in a transaction on Thursday, September 7th. The stock was sold at an average price of $30.00, for a total transaction of $27,810.00. Following the sale, the senior vice president now directly owns 112,907 shares in the company, valued at approximately $3,387,210. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Amy L. Cappellanti-Wolf sold 2,163 shares of the stock in a transaction on Tuesday, September 5th. The shares were sold at an average price of $29.85, for a total value of $64,565.55. Following the sale, the senior vice president now owns 115,997 shares in the company, valued at $3,462,510.45. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 671,985 shares of company stock valued at $20,028,343. 1.30% of the stock is owned by corporate insiders.
SYMC has been the subject of several analyst reports. Evercore ISI set a $25.00 target price on Symantec Corporation and gave the company a “hold” rating in a report on Thursday, August 3rd. CIBC restated an “outperform” rating and set a $33.00 target price (down from $35.00) on shares of Symantec Corporation in a report on Thursday, November 2nd. Robert W. Baird restated a “hold” rating on shares of Symantec Corporation in a report on Thursday, August 3rd. Stifel Nicolaus restated a “hold” rating and set a $27.00 target price on shares of Symantec Corporation in a report on Friday, November 3rd. Finally, Credit Suisse Group initiated coverage on Symantec Corporation in a report on Tuesday, September 5th. They set an “outperform” rating and a $36.00 target price for the company. Two research analysts have rated the stock with a sell rating, fifteen have given a hold rating and ten have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $32.39.
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Symantec Corporation 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.
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