Symantec Corporation (SYMC) Holdings Lessened by Afam Capital Inc.
Afam Capital Inc. trimmed its holdings in Symantec Corporation (NASDAQ:SYMC) by 2.4% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 239,826 shares of the technology company’s stock after selling 5,836 shares during the period. Afam Capital Inc.’s holdings in Symantec Corporation were worth $6,775,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also made changes to their positions in the company. Northwestern Mutual Wealth Management Co. raised its position in shares of Symantec Corporation by 7.9% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 3,982 shares of the technology company’s stock valued at $112,000 after purchasing an additional 292 shares in the last quarter. Sun Life Financial INC raised its position in shares of Symantec Corporation by 44,100.0% in the 2nd quarter. Sun Life Financial INC now owns 4,420 shares of the technology company’s stock valued at $125,000 after purchasing an additional 4,410 shares in the last quarter. Harfst & Associates Inc. acquired a new position in shares of Symantec Corporation in the 2nd quarter valued at approximately $127,000. Johnson Financial Group Inc. raised its position in shares of Symantec Corporation by 8.0% in the 1st quarter. Johnson Financial Group Inc. now owns 5,271 shares of the technology company’s stock valued at $162,000 after purchasing an additional 390 shares in the last quarter. Finally, Yakira Capital Management Inc. acquired a new position in shares of Symantec Corporation in the 1st quarter valued at approximately $217,000. 91.65% of the stock is currently owned by institutional investors.
In other news, Director Anita M. Sands sold 2,000 shares of Symantec Corporation stock in a transaction on Monday, July 17th. The stock was sold at an average price of $30.40, for a total value of $60,800.00. Following the completion of the sale, the director now directly owns 41,386 shares of the company’s stock, valued at approximately $1,258,134.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Suzanne M. Vautrinot sold 2,500 shares of Symantec Corporation stock in a transaction on Monday, October 2nd. The shares were sold at an average price of $32.81, for a total value of $82,025.00. The disclosure for this sale can be found here. Insiders sold a total of 1,662,816 shares of company stock valued at $48,437,529 over the last three months. Insiders own 1.30% of the company’s stock.
A number of equities analysts have issued reports on the company. Zacks Investment Research raised Symantec Corporation from a “strong sell” rating to a “buy” rating and set a $32.00 target price on the stock in a research report on Tuesday, July 11th. Barclays PLC reiterated an “overweight” rating and issued a $36.00 price target (down from $38.00) on shares of Symantec Corporation in a report on Thursday, August 3rd. Evercore ISI set a $25.00 price target on Symantec Corporation and gave the company a “hold” rating in a report on Thursday, August 3rd. Robert W. Baird reiterated a “hold” rating on shares of Symantec Corporation in a report on Thursday, August 3rd. Finally, BidaskClub downgraded Symantec Corporation from a “buy” rating to a “hold” rating in a report on Saturday, August 5th. Three investment analysts have rated the stock with a sell rating, sixteen have issued a hold rating and ten have issued a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $31.52.
Shares of Symantec Corporation (NASDAQ:SYMC) traded up 1.44% during mid-day trading on Friday, hitting $32.36. The stock had a trading volume of 3,356,123 shares. The firm’s 50-day moving average price is $32.15 and its 200 day moving average price is $30.54. The stock’s market cap is $19.83 billion. Symantec Corporation has a 12-month low of $22.76 and a 12-month high of $34.20.
Symantec Corporation (NASDAQ:SYMC) last released its earnings results on Wednesday, August 2nd. The technology company reported $0.15 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.12 by $0.03. The company had revenue of $1.23 billion during the quarter, compared to analysts’ expectations of $1.20 billion. Symantec Corporation had a positive return on equity of 10.73% and a negative net margin of 8.68%. The business’s revenue for the quarter was up 38.9% on a year-over-year basis. During the same period last year, the firm earned $0.29 EPS. Equities analysts forecast that Symantec Corporation will post $1.80 EPS for the current fiscal year.
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Symantec Corporation Company 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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