Symantec Corporation (SYMC) Shares Bought by Pioneer Investment Management Inc.
Pioneer Investment Management Inc. raised its stake in shares of Symantec Corporation (NASDAQ:SYMC) by 103.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 89,526 shares of the technology company’s stock after buying an additional 45,483 shares during the period. Pioneer Investment Management Inc.’s holdings in Symantec Corporation were worth $2,529,000 as of its most recent SEC filing.
Other institutional investors have also added to or reduced their stakes in the company. Advisor Partners LLC increased its position in Symantec Corporation by 11.2% in the second quarter. Advisor Partners LLC now owns 11,336 shares of the technology company’s stock valued at $320,000 after buying an additional 1,142 shares during the last quarter. Palisade Capital Management LLC NJ increased its position in Symantec Corporation by 206.1% in the second quarter. Palisade Capital Management LLC NJ now owns 47,634 shares of the technology company’s stock valued at $1,346,000 after buying an additional 32,074 shares during the last quarter. Candriam Luxembourg S.C.A. increased its position in Symantec Corporation by 845.1% in the second quarter. Candriam Luxembourg S.C.A. now owns 360,860 shares of the technology company’s stock valued at $10,195,000 after buying an additional 322,677 shares during the last quarter. Sei Investments Co. increased its position in Symantec Corporation by 12.1% in the second quarter. Sei Investments Co. now owns 1,305,048 shares of the technology company’s stock valued at $36,868,000 after buying an additional 140,548 shares during the last quarter. Finally, First Manhattan Co. increased its position in Symantec Corporation by 8.2% in the second quarter. First Manhattan Co. now owns 129,376 shares of the technology company’s stock valued at $3,654,000 after buying an additional 9,799 shares during the last quarter. 93.40% of the stock is owned by hedge funds and other institutional investors.
Shares of Symantec Corporation (NASDAQ:SYMC) opened at 28.57 on Tuesday. The firm’s market capitalization is $17.51 billion. The firm has a 50-day moving average of $29.58 and a 200-day moving average of $29.84. Symantec Corporation has a 12-month low of $21.98 and a 12-month high of $33.22.
Symantec Corporation (NASDAQ:SYMC) last issued its quarterly earnings data on Wednesday, August 2nd. The technology company reported $0.15 EPS for the quarter, topping the Thomson Reuters’ 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 analyst estimates of $1.20 billion. During the same period in the prior year, the business earned $0.29 EPS. The company’s revenue for the quarter was up 38.9% on a year-over-year basis. Equities analysts anticipate that Symantec Corporation will post $1.80 earnings per share for the current 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 $0.075 dividend. The ex-dividend date of this dividend is Thursday, August 17th. This represents a $0.30 annualized dividend and a yield of 1.05%. Symantec Corporation’s dividend payout ratio (DPR) is presently -49.18%.
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Several research firms have recently issued reports on SYMC. Barclays PLC reaffirmed an “overweight” rating and set a $36.00 price target (down previously from $38.00) on shares of Symantec Corporation in a research note on Wednesday, August 9th. Zacks Investment Research downgraded shares of Symantec Corporation from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 8th. BidaskClub downgraded shares of Symantec Corporation from a “buy” rating to a “hold” rating in a research note on Saturday, August 5th. Oppenheimer Holdings, Inc. reaffirmed an “outperform” rating and set a $35.00 price target (up previously from $33.00) on shares of Symantec Corporation in a research note on Friday, August 4th. Finally, Cowen and Company reaffirmed a “market perform” rating and set a $31.00 price target (down previously from $33.00) on shares of Symantec Corporation in a research note on Thursday, August 3rd. 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 stock. Symantec Corporation has a consensus rating of “Hold” and a consensus price target of $31.00.
In other Symantec Corporation news, Director Suzanne M. Vautrinot sold 2,500 shares of the company’s stock in a transaction on Monday, July 3rd. The shares were sold at an average price of $28.45, for a total value of $71,125.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Mark S. Garfield sold 18,069 shares of the company’s stock in a transaction on Tuesday, May 23rd. The stock was sold at an average price of $29.39, for a total transaction of $531,047.91. Following the completion of the transaction, the chief accounting officer now owns 92,754 shares of the company’s stock, valued at $2,726,040.06. The disclosure for this sale can be found here. Insiders sold a total of 1,497,033 shares of company stock valued at $43,344,571 over the last 90 days. Company insiders own 0.76% of the company’s stock.
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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