State of Tennessee Treasury Department Acquires 58,494 Shares of Symantec Corporation (SYMC)
State of Tennessee Treasury Department increased its holdings in shares of Symantec Corporation (NASDAQ:SYMC) by 35.2% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 224,855 shares of the technology company’s stock after buying an additional 58,494 shares during the period. State of Tennessee Treasury Department’s holdings in Symantec Corporation were worth $7,377,000 at the end of the most recent quarter.
A number of other large investors have also bought and sold shares of SYMC. Capital World Investors lifted its position in shares of Symantec Corporation by 3.7% in the 2nd quarter. Capital World Investors now owns 75,819,338 shares of the technology company’s stock worth $2,141,896,000 after purchasing an additional 2,695,567 shares during the period. Vanguard Group Inc. lifted its position in shares of Symantec Corporation by 1.3% in the 2nd quarter. Vanguard Group Inc. now owns 61,195,217 shares of the technology company’s stock worth $1,728,766,000 after purchasing an additional 757,092 shares during the period. Jackson Square Partners LLC lifted its position in shares of Symantec Corporation by 5.0% in the 2nd quarter. Jackson Square Partners LLC now owns 20,071,586 shares of the technology company’s stock worth $567,022,000 after purchasing an additional 964,537 shares during the period. Coatue Management LLC lifted its position in shares of Symantec Corporation by 4.3% in the 2nd quarter. Coatue Management LLC now owns 17,902,408 shares of the technology company’s stock worth $505,743,000 after purchasing an additional 743,961 shares during the period. Finally, Capital Research Global Investors lifted its position in shares of Symantec Corporation by 1,784.9% in the 2nd quarter. Capital Research Global Investors now owns 14,305,855 shares of the technology company’s stock worth $404,140,000 after purchasing an additional 13,546,895 shares during the period. Institutional investors and hedge funds own 90.39% of the company’s stock.
Shares of Symantec Corporation (NASDAQ SYMC) opened at $28.36 on Monday. The company has a market cap of $17,582.69, a price-to-earnings ratio of 45.02, a price-to-earnings-growth ratio of 2.86 and a beta of 1.13. The company has a debt-to-equity ratio of 1.72, a quick ratio of 1.12 and a current ratio of 1.12. Symantec Corporation has a one year low of $23.20 and a one year high of $34.20.
Symantec Corporation (NASDAQ:SYMC) last announced its quarterly earnings results on Wednesday, November 1st. The technology company reported $0.40 EPS for the quarter, beating the Zacks’ consensus estimate of $0.26 by $0.14. The business had revenue of $1.28 billion during the quarter, compared to analyst estimates of $1.27 billion. Symantec Corporation had a negative net margin of 5.29% and a positive return on equity of 12.33%. Symantec Corporation’s quarterly revenue was up 25.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.30 EPS. equities research analysts forecast that Symantec Corporation will post 1.05 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 13th. Shareholders of record on Monday, November 20th will be issued a dividend of $0.075 per share. This represents a $0.30 dividend on an annualized basis and a yield of 1.06%. The ex-dividend date is Friday, November 17th. Symantec Corporation’s dividend payout ratio is -75.00%.
In other Symantec Corporation news, SVP Amy L. Cappellanti-Wolf sold 2,163 shares of Symantec Corporation stock in a transaction on Tuesday, September 5th. The shares were sold at an average price of $29.85, for a total transaction of $64,565.55. Following the transaction, the senior vice president now directly owns 115,997 shares of the company’s stock, valued at approximately $3,462,510.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Nicholas R. Noviello sold 375,000 shares of Symantec Corporation stock in a transaction on 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 directly owns 565,319 shares in the company, valued at $16,609,072.22. The disclosure for this sale can be found here. Insiders have sold a total of 671,985 shares of company stock worth $20,028,343 over the last ninety days. Insiders own 1.30% of the company’s stock.
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A number of research analysts have recently issued reports on the stock. Barclays PLC restated an “overweight” rating and issued a $36.00 price target (down previously from $38.00) on shares of Symantec Corporation in a research report on Thursday, August 3rd. Robert W. Baird restated a “hold” rating and issued a $32.00 price target on shares of Symantec Corporation in a research report on Friday, September 8th. Royal Bank Of Canada restated a “hold” rating and issued a $32.00 price target on shares of Symantec Corporation in a research report on Monday, July 31st. BidaskClub upgraded shares of Symantec Corporation from a “sell” rating to a “hold” rating in a research report on Wednesday, August 23rd. Finally, Morgan Stanley dropped their price target on shares of Symantec Corporation from $34.00 to $31.00 and set an “equal weight” rating on the stock in a research report on Friday, November 3rd. Two equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and ten have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $32.39.
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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