Symantec Corporation (NASDAQ:SYMC) Shares Sold by TD Asset Management Inc.
TD Asset Management Inc. lowered its position in shares of Symantec Corporation (NASDAQ:SYMC) by 40.3% during the second quarter, Holdings Channel reports. The fund owned 714,081 shares of the technology company’s stock after selling 482,404 shares during the period. TD Asset Management Inc.’s holdings in Symantec Corporation were worth $20,173,000 as of its most recent SEC filing.
Several other hedge funds have also modified their holdings of the stock. Gulf International Bank UK Ltd increased its stake in shares of Symantec Corporation by 5.2% in the first quarter. Gulf International Bank UK Ltd now owns 192,984 shares of the technology company’s stock worth $5,920,000 after buying an additional 9,600 shares during the last quarter. Spirit of America Management Corp NY increased its stake in shares of Symantec Corporation by 13.0% in the first quarter. Spirit of America Management Corp NY now owns 23,850 shares of the technology company’s stock worth $732,000 after buying an additional 2,750 shares during the last quarter. Hartwell J M Limited Partnership increased its stake in shares of Symantec Corporation by 9.1% in the first quarter. Hartwell J M Limited Partnership now owns 532,700 shares of the technology company’s stock worth $16,343,000 after buying an additional 44,650 shares during the last quarter. Reliance Trust Co. of Delaware acquired a new stake in shares of Symantec Corporation during the first quarter worth approximately $349,000. Finally, Telemus Capital LLC increased its stake in shares of Symantec Corporation by 14.7% in the first quarter. Telemus Capital LLC now owns 32,375 shares of the technology company’s stock worth $993,000 after buying an additional 4,155 shares during the last quarter. 93.82% of the stock is owned by institutional investors.
Symantec Corporation (NASDAQ SYMC) opened at 28.29 on Friday. The stock has a 50 day moving average price of $29.58 and a 200-day moving average price of $29.80. The company’s market capitalization is $17.34 billion. Symantec Corporation has a 12-month low of $22.64 and a 12-month high of $33.22.
Symantec Corporation (NASDAQ:SYMC) last released its quarterly earnings data on Wednesday, August 2nd. The technology company reported $0.15 EPS for the quarter, beating the consensus estimate of $0.12 by $0.03. Symantec Corporation had a negative net margin of 8.68% and a positive return on equity of 10.73%. The business had revenue of $1.23 billion during the quarter, compared to the consensus estimate of $1.20 billion. During the same quarter in the prior year, the firm earned $0.29 EPS. The business’s revenue was up 38.9% on a year-over-year basis. Equities analysts predict that Symantec Corporation will post $1.80 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 13th. Shareholders of record on Monday, August 21st will be issued a dividend of $0.075 per share. This represents a $0.30 annualized dividend and a dividend yield of 1.06%. The ex-dividend date of this dividend is Thursday, August 17th. Symantec Corporation’s dividend payout ratio (DPR) is presently -49.18%.
A number of analysts recently commented on SYMC shares. Zacks Investment Research raised Symantec Corporation from a “sell” rating to a “hold” rating in a research report on Tuesday, April 18th. OTR Global raised Symantec Corporation to a “positive” rating in a research report on Friday, April 21st. First Analysis raised Symantec Corporation from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $28.00 to $40.00 in a research report on Thursday, May 11th. Robert W. Baird reaffirmed a “hold” rating on shares of Symantec Corporation in a research report on Thursday, May 11th. Finally, Stifel Nicolaus reaffirmed a “hold” rating and set a $29.00 price target (up from $28.00) on shares of Symantec Corporation in a research report on Thursday, May 11th. One investment analyst has rated the stock with a sell rating, fifteen have issued a hold rating and thirteen have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $31.00.
In other Symantec Corporation news, CFO Nicholas R. Noviello sold 27,741 shares of the stock in a transaction dated Monday, May 15th. The shares were sold at an average price of $32.45, for a total transaction of $900,195.45. Following the completion of the transaction, the chief financial officer now owns 184,928 shares of the company’s stock, valued at approximately $6,000,913.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Amy L. Cappellanti-Wolf sold 3,741 shares of the stock in a transaction dated Monday, June 5th. The shares were sold at an average price of $29.91, for a total transaction of $111,893.31. Following the transaction, the senior vice president now directly owns 88,774 shares of the company’s stock, valued at approximately $2,655,230.34. The disclosure for this sale can be found here. Insiders have sold a total of 1,537,774 shares of company stock valued at $44,666,616 in the last three months. Insiders own 0.76% of the company’s stock.
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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