Sei Investments Co. boosted its position in Symantec Corporation (NASDAQ:SYMC) by 12.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,305,048 shares of the technology company’s stock after buying an additional 140,548 shares during the period. Sei Investments Co. owned 0.21% of Symantec Corporation worth $36,868,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in SYMC. Advisory Services Network LLC purchased a new position in Symantec Corporation during the first quarter worth approximately $142,000. Johnson Financial Group Inc. increased its position in Symantec Corporation by 8.0% in the first quarter. Johnson Financial Group Inc. now owns 5,271 shares of the technology company’s stock worth $162,000 after buying an additional 390 shares in the last quarter. IFP Advisors Inc increased its position in Symantec Corporation by 0.3% in the first quarter. IFP Advisors Inc now owns 6,283 shares of the technology company’s stock worth $193,000 after buying an additional 19 shares in the last quarter. American Asset Management Inc. bought a new stake in shares of Symantec Corporation during the first quarter valued at about $207,000. Finally, Yakira Capital Management Inc. bought a new stake in shares of Symantec Corporation during the first quarter valued at about $217,000. 93.82% of the stock is currently owned by institutional investors.
Shares of Symantec Corporation (NASDAQ:SYMC) traded up 1.62% on Friday, hitting $28.29. The stock had a trading volume of 8,432,879 shares. The firm has a 50 day moving average price of $29.58 and a 200 day moving average price of $29.80. Symantec Corporation has a one year low of $21.98 and a one year high of $33.22. The company’s market capitalization is $17.34 billion.
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 Zacks’ consensus estimate of $0.12 by $0.03. The business had revenue of $1.23 billion during the quarter, compared to analysts’ expectations of $1.20 billion. Symantec Corporation had a negative net margin of 8.68% and a positive return on equity of 10.73%. The firm’s quarterly revenue was up 38.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.29 EPS. On average, equities research analysts predict that Symantec Corporation will post $1.80 earnings per share for the current fiscal year.
The company also recently announced 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 dividend on an annualized basis and a 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%.
Several analysts recently issued reports on SYMC shares. Goldman Sachs Group, Inc. (The) reissued a “buy” rating and issued a $36.00 price target on shares of Symantec Corporation in a report on Friday, June 9th. Standpoint Research raised Symantec Corporation from a “hold” rating to a “buy” rating in a report on Thursday, June 29th. Zacks Investment Research raised Symantec Corporation from a “strong sell” rating to a “buy” rating and set a $32.00 price target on the stock in a report on Tuesday, July 11th. BidaskClub raised Symantec Corporation from a “hold” rating to a “buy” rating in a research note on Wednesday, July 12th. Finally, Stifel Nicolaus reaffirmed a “hold” rating and set a $29.00 target price (up previously from $28.00) on shares of Symantec Corporation in a research note on Thursday, May 11th. One investment analyst has rated the stock with a sell rating, fifteen have given a hold rating and thirteen have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $31.00.
In related news, EVP Scott C. Taylor sold 13,000 shares of the firm’s stock in a transaction dated Monday, May 15th. The shares were sold at an average price of $32.45, for a total value of $421,850.00. Following the completion of the sale, the executive vice president now directly owns 237,030 shares in the company, valued at approximately $7,691,623.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Michael David Fey sold 1,348,831 shares of the firm’s stock in a transaction dated Tuesday, August 8th. The shares were sold at an average price of $28.84, for a total transaction of $38,900,286.04. Following the completion of the sale, the insider now owns 1,605,757 shares of the company’s stock, valued at $46,310,031.88. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,537,774 shares of company stock valued at $44,666,616. Corporate 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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