Symantec Corporation (SYMC) Stake Raised by Advisor Partners LLC
Advisor Partners LLC raised its stake in Symantec Corporation (NASDAQ:SYMC) by 11.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 11,336 shares of the technology company’s stock after buying an additional 1,142 shares during the period. Advisor Partners LLC’s holdings in Symantec Corporation were worth $320,000 at the end of the most recent quarter.
Several other hedge funds have also made changes to their positions in the company. Advisory Services Network LLC acquired a new stake in shares of Symantec Corporation during the first quarter valued at $142,000. Johnson Financial Group Inc. increased its stake in shares of Symantec Corporation by 8.0% in the first quarter. Johnson Financial Group Inc. now owns 5,271 shares of the technology company’s stock valued at $162,000 after buying an additional 390 shares in the last quarter. IFP Advisors Inc increased its stake in shares of Symantec Corporation by 0.3% in the first quarter. IFP Advisors Inc now owns 6,283 shares of the technology company’s stock valued at $193,000 after buying an additional 19 shares in the last quarter. American Asset Management Inc. acquired a new stake in shares of Symantec Corporation during the first quarter valued at $207,000. Finally, Yakira Capital Management Inc. acquired a new stake in shares of Symantec Corporation during the first quarter valued at $217,000. Institutional investors and hedge funds own 93.82% of the company’s stock.
Shares of Symantec Corporation (NASDAQ:SYMC) opened at 27.84 on Friday. Symantec Corporation has a 1-year low of $21.98 and a 1-year high of $33.22. The firm’s market cap is $17.06 billion. The company’s 50-day moving average price is $29.60 and its 200 day moving average price is $29.78.
Symantec Corporation (NASDAQ:SYMC) last released its earnings results on Wednesday, August 2nd. The technology company reported $0.15 earnings per share for the quarter, beating analysts’ consensus estimates of $0.12 by $0.03. Symantec Corporation had a positive return on equity of 10.73% and a negative net margin of 8.68%. The company had revenue of $1.23 billion during the quarter, compared to analyst estimates of $1.20 billion. During the same quarter in the previous year, the company posted $0.29 EPS. Symantec Corporation’s revenue for the quarter was up 38.9% on a year-over-year basis. On average, analysts predict that Symantec Corporation will post $1.80 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 13th. Stockholders of record on Monday, August 21st will be paid a $0.075 dividend. This represents a $0.30 dividend on an annualized basis and a dividend yield of 1.08%. The ex-dividend date of this dividend is Thursday, August 17th. Symantec Corporation’s dividend payout ratio (DPR) is presently -49.18%.
Several brokerages recently weighed in on SYMC. UBS AG downgraded Symantec Corporation from a “buy” rating to a “neutral” rating and upped their price objective for the stock from $31.00 to $33.00 in a research report on Thursday, May 18th. Robert W. Baird restated a “hold” rating on shares of Symantec Corporation in a research report on Thursday, August 3rd. Evercore ISI set a $25.00 price objective on Symantec Corporation and gave the stock a “hold” rating in a research report on Thursday, August 3rd. Oppenheimer Holdings, Inc. restated an “outperform” rating and set a $35.00 price objective (up from $33.00) on shares of Symantec Corporation in a research report on Friday, August 4th. Finally, Barclays PLC restated an “overweight” rating and set a $36.00 price objective (down from $38.00) on shares of Symantec Corporation in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and thirteen have issued a buy rating to the stock. Symantec Corporation presently has a consensus rating of “Hold” and an average target price of $31.00.
In other Symantec Corporation news, EVP Francis C. Rosch sold 47,344 shares of the company’s stock in a transaction that occurred on Tuesday, June 6th. The stock was sold at an average price of $30.18, for a total transaction of $1,428,841.92. Following the completion of the transaction, the executive vice president now owns 193,054 shares of the company’s stock, valued at approximately $5,826,369.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Michael David Fey sold 1,348,831 shares of the company’s stock in a transaction that occurred on Tuesday, August 8th. The shares were sold at an average price of $28.84, for a total value of $38,900,286.04. Following the transaction, the insider now directly owns 1,605,757 shares of the company’s stock, valued at approximately $46,310,031.88. The disclosure for this sale can be found here. In the last three months, insiders sold 1,537,774 shares of company stock valued at $44,666,616. 0.76% of the stock is currently owned by corporate insiders.
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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