Symantec Corporation (SYMC) Shares Bought by Strs Ohio
Strs Ohio boosted its stake in Symantec Corporation (NASDAQ:SYMC) by 3.5% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 47,434 shares of the technology company’s stock after purchasing an additional 1,619 shares during the period. Strs Ohio’s holdings in Symantec Corporation were worth $1,556,000 at the end of the most recent quarter.
Other hedge funds have also modified their holdings of the company. Northwestern Mutual Wealth Management Co. grew its position in shares of Symantec Corporation by 7.9% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 3,982 shares of the technology company’s stock valued at $112,000 after acquiring an additional 292 shares during the period. Sun Life Financial INC grew its position in shares of Symantec Corporation by 44,100.0% during the 2nd quarter. Sun Life Financial INC now owns 4,420 shares of the technology company’s stock valued at $125,000 after acquiring an additional 4,410 shares during the period. Harfst & Associates Inc. bought a new stake in shares of Symantec Corporation during the 2nd quarter valued at $127,000. Johnson Financial Group Inc. grew its position in shares of Symantec Corporation by 6.2% during the 2nd quarter. Johnson Financial Group Inc. now owns 5,596 shares of the technology company’s stock valued at $158,000 after acquiring an additional 325 shares during the period. Finally, Whittier Trust Co. grew its position in shares of Symantec Corporation by 192.1% during the 3rd quarter. Whittier Trust Co. now owns 7,460 shares of the technology company’s stock valued at $245,000 after acquiring an additional 4,906 shares during the period. 91.41% of the stock is owned by hedge funds and other institutional investors.
In other news, Director Suzanne M. Vautrinot sold 2,500 shares of the firm’s stock in a transaction dated Monday, October 2nd. The shares were sold at an average price of $32.81, for a total value of $82,025.00. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, SVP Amy L. Cappellanti-Wolf sold 927 shares of the firm’s stock in a transaction dated Thursday, September 7th. The stock was sold at an average price of $30.00, for a total transaction of $27,810.00. Following the completion of the transaction, the senior vice president now directly owns 112,907 shares in the company, valued at $3,387,210. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,645,816 shares of company stock worth $47,911,129. Insiders own 1.30% of the company’s stock.
Symantec Corporation (NASDAQ:SYMC) last posted its quarterly earnings results on Wednesday, November 1st. The technology company reported $0.40 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.26 by $0.14. The firm had revenue of $1.28 billion for the quarter, compared to the consensus estimate of $1.27 billion. Symantec Corporation had a negative net margin of 5.29% and a positive return on equity of 12.27%. The company’s revenue for the quarter was up 25.7% on a year-over-year basis. During the same period last year, the firm posted $0.30 earnings per share.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 13th. Stockholders of record on Monday, November 20th will be paid a $0.075 dividend. This represents a $0.30 annualized dividend and a dividend yield of 1.02%. The ex-dividend date is Friday, November 17th. Symantec Corporation’s dividend payout ratio is currently -75.00%.
A number of equities research analysts have recently issued reports on the stock. Standpoint Research downgraded shares of Symantec Corporation from a “buy” rating to a “hold” rating in a research report on Monday, October 9th. Zacks Investment Research downgraded shares of Symantec Corporation from a “hold” rating to a “sell” rating in a research report on Monday, October 9th. Cowen and Company cut shares of Symantec Corporation from a “market perform” rating to an “underperform” rating and set a $31.00 target price on the stock. in a research note on Monday, October 9th. Piper Jaffray Companies restated a “buy” rating and set a $40.00 target price on shares of Symantec Corporation in a research note on Tuesday, September 12th. Finally, Morgan Stanley cut shares of Symantec Corporation from an “overweight” rating to an “equal weight” rating and lowered their target price for the company from $37.00 to $34.00 in a research note on Tuesday, October 10th. Three equities research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and ten have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $31.64.
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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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