Symantec Corporation Sees Unusually Large Options Volume (SYMC)

Symantec Corporation (NASDAQ:SYMC) was the recipient of some unusual options trading activity on Friday. Stock investors bought 13,149 put options on the stock. This is an increase of 771% compared to the average daily volume of 1,510 put options.

Several equities analysts have recently commented on SYMC shares. Susquehanna Bancshares Inc started coverage on shares of Symantec Corporation in a research note on Wednesday, June 7th. They set a “neutral” rating and a $32.00 price objective for the company. Evercore ISI set a $25.00 price objective on shares of Symantec Corporation and gave the company a “hold” rating in a research note on Thursday, August 3rd. Robert W. Baird reaffirmed a “hold” rating on shares of Symantec Corporation in a research note on Thursday, August 3rd. Barclays PLC reaffirmed an “overweight” rating and set a $36.00 price objective (down from $38.00) on shares of Symantec Corporation in a research note on Wednesday, August 9th. Finally, Citigroup Inc. reaffirmed a “neutral” rating and set a $31.00 price objective (up from $29.00) 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 assigned a hold rating and thirteen have assigned a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $31.00.

Shares of Symantec Corporation (SYMC) opened at 28.41 on Wednesday. The firm has a 50-day moving average of $29.57 and a 200-day moving average of $29.85. The stock’s market cap is $17.41 billion. Symantec Corporation has a one year low of $22.69 and a one year high of $33.22.

Symantec Corporation (NASDAQ:SYMC) last posted its quarterly earnings results on Wednesday, August 2nd. The technology company reported $0.15 EPS for the quarter, beating the 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 quarter in the previous year, the business posted $0.29 EPS. The company’s quarterly revenue was up 38.9% compared to the same quarter last year. On average, equities research analysts expect that Symantec Corporation will post $1.80 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 13th. Stockholders 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 dividend yield of 1.06%. Symantec Corporation’s dividend payout ratio is currently -49.18%.

In other news, CAO Mark S. Garfield sold 18,069 shares of the company’s stock in a transaction dated Tuesday, May 23rd. The shares were 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 directly owns 92,754 shares of the company’s stock, valued at $2,726,040.06. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Roxane Divol sold 19,117 shares of the company’s stock in a transaction dated Friday, May 19th. The shares were sold at an average price of $29.34, for a total transaction of $560,892.78. Following the transaction, the executive vice president now directly owns 116,624 shares of the company’s stock, valued at $3,421,748.16. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,495,033 shares of company stock valued at $43,284,251. Insiders own 0.76% of the company’s stock.

Large investors have recently bought and sold shares of the stock. Northwestern Mutual Wealth Management Co. raised its stake in Symantec Corporation by 7.9% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 3,982 shares of the technology company’s stock valued at $112,000 after buying an additional 292 shares in the last quarter. Sun Life Financial INC raised its stake in Symantec Corporation by 44,100.0% in the second quarter. Sun Life Financial INC now owns 4,420 shares of the technology company’s stock valued at $125,000 after buying an additional 4,410 shares in the last quarter. Harfst & Associates Inc. acquired a new stake in Symantec Corporation during the second quarter valued at approximately $127,000. Advisory Services Network LLC acquired a new stake in Symantec Corporation during the first quarter valued at approximately $142,000. Finally, Johnson Financial Group Inc. raised its stake in Symantec Corporation by 6.2% in the second quarter. Johnson Financial Group Inc. now owns 5,596 shares of the technology company’s stock valued at $158,000 after buying an additional 325 shares in the last quarter. Institutional investors and hedge funds own 93.40% of the company’s stock.

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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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