Russell Investments Group Ltd. raised its stake in shares of Symantec Corporation (NASDAQ:SYMC) by 15.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,457,932 shares of the technology company’s stock after buying an additional 197,658 shares during the period. Russell Investments Group Ltd. owned 0.24% of Symantec Corporation worth $41,185,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also bought and sold shares of the company. BlackRock Inc. increased its position in shares of Symantec Corporation by 2,815.1% in the first quarter. BlackRock Inc. now owns 40,975,309 shares of the technology company’s stock worth $1,257,121,000 after buying an additional 39,569,694 shares in the last quarter. FMR LLC increased its position in shares of Symantec Corporation by 41.9% in the first quarter. FMR LLC now owns 10,420,611 shares of the technology company’s stock worth $319,703,000 after buying an additional 3,076,263 shares in the last quarter. Janus Capital Management LLC increased its position in shares of Symantec Corporation by 32.2% in the first quarter. Janus Capital Management LLC now owns 7,033,459 shares of the technology company’s stock worth $215,787,000 after buying an additional 1,714,844 shares in the last quarter. Vanguard Group Inc. increased its position in shares of Symantec Corporation by 2.7% in the first quarter. Vanguard Group Inc. now owns 60,438,125 shares of the technology company’s stock worth $1,854,242,000 after buying an additional 1,611,647 shares in the last quarter. Finally, Jericho Capital Asset Management L.P. purchased a new position in shares of Symantec Corporation during the first quarter worth about $38,663,000. 93.40% of the stock is owned by institutional investors and hedge funds.
Shares of Symantec Corporation (SYMC) opened at 28.45 on Friday. The company has a 50 day moving average of $29.56 and a 200 day moving average of $29.83. Symantec Corporation has a 52-week low of $22.76 and a 52-week high of $33.22. The stock’s market capitalization is $17.43 billion.
Symantec Corporation (NASDAQ:SYMC) last announced its earnings results on Wednesday, August 2nd. The technology company reported $0.15 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate 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 business had revenue of $1.23 billion during the quarter, compared to analysts’ expectations of $1.20 billion. During the same quarter last year, the business posted $0.29 earnings per share. The company’s quarterly revenue was up 38.9% on a year-over-year basis. Analysts predict that Symantec Corporation will post $1.81 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 13th. Investors of record on Monday, August 21st will be given a $0.075 dividend. The ex-dividend date is Thursday, August 17th. This represents a $0.30 dividend on an annualized basis and a dividend yield of 1.05%. Symantec Corporation’s dividend payout ratio (DPR) is -49.18%.
A number of research analysts recently issued reports on SYMC shares. OTR Global upgraded shares of Symantec Corporation to a “positive” rating in a research note on Friday, April 21st. Zacks Investment Research raised shares of Symantec Corporation from a “sell” rating to a “hold” rating in a report on Tuesday, May 9th. First Analysis raised shares of Symantec Corporation from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $28.00 to $40.00 in a report on Thursday, May 11th. Robert W. Baird reissued a “hold” rating on shares of Symantec Corporation in a report on Thursday, May 11th. Finally, Stifel Nicolaus reissued a “hold” rating and set a $29.00 price objective (up previously from $28.00) on shares of Symantec Corporation in a report on Thursday, May 11th. Two analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and thirteen have assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $31.00.
In related news, insider Michael David Fey sold 1,348,831 shares of the stock in a transaction on Tuesday, August 8th. The stock was sold at an average price of $28.84, for a total value of $38,900,286.04. Following the completion of the transaction, the insider now owns 1,605,757 shares in the company, valued at approximately $46,310,031.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Francis C. Rosch sold 47,344 shares of the stock in a transaction on Tuesday, June 6th. The shares were sold at an average price of $30.18, for a total value 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 disclosure for this sale can be found here. Insiders sold a total of 1,475,916 shares of company stock valued at $42,723,358 in the last quarter. 0.76% of the stock is currently owned by corporate insiders.
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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