Symantec Co. (SYMC) Stake Raised by Legal & General Group Plc
Legal & General Group Plc grew its position in shares of Symantec Co. (NASDAQ:SYMC) by 2.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 4,183,821 shares of the technology company’s stock after buying an additional 80,096 shares during the quarter. Legal & General Group Plc owned 0.65% of Symantec worth $79,054,000 as of its most recent filing with the Securities & Exchange Commission.
Several other large investors have also recently bought and sold shares of SYMC. Starboard Value LP purchased a new stake in shares of Symantec during the third quarter valued at approximately $521,398,000. Capital International Investors purchased a new stake in shares of Symantec during the third quarter valued at approximately $222,769,000. Bank of Nova Scotia grew its holdings in shares of Symantec by 299.8% during the fourth quarter. Bank of Nova Scotia now owns 2,858,792 shares of the technology company’s stock valued at $54,015,000 after buying an additional 2,143,686 shares during the last quarter. Pictet Asset Management Ltd. grew its holdings in shares of Symantec by 61.0% during the third quarter. Pictet Asset Management Ltd. now owns 5,140,105 shares of the technology company’s stock valued at $109,381,000 after buying an additional 1,948,400 shares during the last quarter. Finally, AQR Capital Management LLC grew its holdings in shares of Symantec by 533.3% during the third quarter. AQR Capital Management LLC now owns 2,057,883 shares of the technology company’s stock valued at $43,792,000 after buying an additional 1,732,918 shares during the last quarter. Hedge funds and other institutional investors own 89.89% of the company’s stock.
A number of research firms have recently commented on SYMC. Mizuho began coverage on shares of Symantec in a report on Tuesday. They set a “neutral” rating and a $25.00 price target on the stock. Credit Suisse Group reiterated a “hold” rating and set a $23.00 price target on shares of Symantec in a report on Friday, February 1st. Robert W. Baird reiterated a “hold” rating and set a $25.00 price target on shares of Symantec in a report on Friday, February 1st. Zacks Investment Research cut shares of Symantec from a “buy” rating to a “hold” rating in a report on Saturday, February 2nd. Finally, ValuEngine cut shares of Symantec from a “buy” rating to a “hold” rating in a report on Tuesday, December 25th. Two analysts have rated the stock with a sell rating, twenty-one have given a hold rating and three have given a buy rating to the stock. Symantec has an average rating of “Hold” and a consensus price target of $22.64.
Shares of SYMC stock opened at $23.23 on Wednesday. Symantec Co. has a 12-month low of $17.42 and a 12-month high of $29.20. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.02 and a current ratio of 1.02. The company has a market capitalization of $14.85 billion, a P/E ratio of 24.45, a P/E/G ratio of 2.50 and a beta of 1.09.
Symantec (NASDAQ:SYMC) last issued its quarterly earnings results on Thursday, January 31st. The technology company reported $0.44 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.39 by $0.05. The business had revenue of $1.22 billion for the quarter, compared to analysts’ expectations of $1.18 billion. Symantec had a negative net margin of 0.86% and a positive return on equity of 13.24%. During the same quarter last year, the company posted $0.49 EPS. As a group, equities analysts predict that Symantec Co. will post 1.16 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 13th. Stockholders of record on Tuesday, February 19th were paid a dividend of $0.075 per share. This represents a $0.30 annualized dividend and a dividend yield of 1.29%. The ex-dividend date was Friday, February 15th. Symantec’s dividend payout ratio is presently 31.58%.
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Symantec Company Profile
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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