Symantec Co. (NASDAQ:SYMC) Shares Sold by IMS Capital Management
IMS Capital Management decreased its position in Symantec Co. (NASDAQ:SYMC) by 19.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 23,795 shares of the technology company’s stock after selling 5,669 shares during the quarter. IMS Capital Management’s holdings in Symantec were worth $562,000 at the end of the most recent reporting period.
Other institutional investors have also recently made changes to their positions in the company. Arcadia Investment Management Corp MI acquired a new stake in shares of Symantec in the second quarter valued at $39,000. CX Institutional lifted its holdings in shares of Symantec by 40.0% in the second quarter. CX Institutional now owns 3,937 shares of the technology company’s stock valued at $86,000 after buying an additional 1,124 shares during the period. Sanders Morris Harris LLC acquired a new stake in shares of Symantec during the second quarter worth $215,000. Capital Fund Management S.A. raised its position in shares of Symantec by 39.1% during the second quarter. Capital Fund Management S.A. now owns 1,037,009 shares of the technology company’s stock worth $22,565,000 after purchasing an additional 291,700 shares during the period. Finally, Bessemer Group Inc. raised its position in shares of Symantec by 62.7% during the second quarter. Bessemer Group Inc. now owns 36,640 shares of the technology company’s stock worth $797,000 after purchasing an additional 14,114 shares during the period. Institutional investors and hedge funds own 90.63% of the company’s stock.
A number of equities research analysts have recently issued reports on SYMC shares. Argus reaffirmed a “hold” rating on shares of Symantec in a research report on Tuesday, August 13th. William Blair reaffirmed a “market perform” rating on shares of Symantec in a research report on Friday, August 9th. ValuEngine lowered Symantec from a “hold” rating to a “sell” rating in a research report on Wednesday, October 2nd. Monness Crespi & Hardt started coverage on Symantec in a research report on Wednesday, July 10th. They set a “neutral” rating on the stock. Finally, Morgan Stanley raised Symantec from an “underweight” rating to an “equal weight” rating and set a $27.00 target price on the stock in a research report on Friday, August 9th. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and two have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $22.82.
Shares of Symantec stock traded up $0.29 on Wednesday, reaching $23.52. 2,540,993 shares of the company were exchanged, compared to its average volume of 7,003,132. The stock has a fifty day moving average price of $23.69 and a 200-day moving average price of $22.50. The firm has a market capitalization of $14.48 billion, a price-to-earnings ratio of 20.10, a price-to-earnings-growth ratio of 3.28 and a beta of 1.29. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.79. Symantec Co. has a fifty-two week low of $17.42 and a fifty-two week high of $26.07.
Symantec (NASDAQ:SYMC) last posted its quarterly earnings results on Thursday, August 8th. The technology company reported $0.43 earnings per share for the quarter, beating the consensus estimate of $0.32 by $0.11. The firm had revenue of $1.25 billion for the quarter, compared to analyst estimates of $1.19 billion. Symantec had a return on equity of 14.94% and a net margin of 2.43%. Symantec’s quarterly revenue was up 7.9% on a year-over-year basis. During the same period in the previous year, the firm earned $0.34 earnings per share. On average, equities analysts anticipate that Symantec Co. will post 1.33 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 18th. Investors of record on Monday, August 26th were given a dividend of $0.075 per share. This represents a $0.30 annualized dividend and a yield of 1.28%. The ex-dividend date was Friday, August 23rd. Symantec’s payout ratio is 25.64%.
Symantec Corporation provides cybersecurity products, services, and solutions worldwide. The company operates through two segments, Enterprise Security and Consumer Digital Safety. The Enterprise Security segment provides endpoint and information protection products, including endpoint security, advanced threat protection, and information protection solutions and their related support services; and network and Web security products, such as network security, Web security, and cloud security solutions and their related support services.
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