Probity Advisors Inc. lowered its stake in shares of Symantec Corporation (NASDAQ:SYMC) by 3.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 13,556 shares of the technology company’s stock after selling 470 shares during the period. Probity Advisors Inc.’s holdings in Symantec Corporation were worth $383,000 as of its most recent filing with the SEC.
Other hedge funds have also modified their holdings of the company. Ledyard National Bank acquired a new stake in shares of Symantec Corporation during the first quarter valued at approximately $295,000. DnB Asset Management AS raised its stake in shares of Symantec Corporation by 18.3% in the first quarter. DnB Asset Management AS now owns 68,033 shares of the technology company’s stock valued at $2,087,000 after buying an additional 10,500 shares in the last quarter. Telemus Capital LLC raised its stake in shares of Symantec Corporation by 14.7% in the first quarter. Telemus Capital LLC now owns 32,375 shares of the technology company’s stock valued at $993,000 after buying an additional 4,155 shares in the last quarter. Reliance Trust Co. of Delaware acquired a new stake in shares of Symantec Corporation during the first quarter valued at approximately $349,000. Finally, Hartwell J M Limited Partnership raised its stake in shares of Symantec Corporation by 9.1% in the first quarter. Hartwell J M Limited Partnership now owns 532,700 shares of the technology company’s stock valued at $16,343,000 after buying an additional 44,650 shares in the last quarter. Hedge funds and other institutional investors own 93.40% of the company’s stock.
Symantec Corporation (SYMC) opened at 28.45 on Friday. 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. The company has a 50-day moving average of $29.56 and a 200-day moving average of $29.83.
Symantec Corporation (NASDAQ:SYMC) last issued its earnings results on Wednesday, August 2nd. The technology company reported $0.15 earnings per share for the quarter, topping 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 company had revenue of $1.23 billion for the quarter, compared to analyst estimates of $1.20 billion. During the same period in the prior year, the business posted $0.29 earnings per share. The firm’s revenue for the quarter was up 38.9% compared to the same quarter last year. Analysts anticipate that Symantec Corporation will post $1.81 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 13th. Shareholders of record on Monday, August 21st will be given a dividend of $0.075 per share. The ex-dividend date of this dividend is Thursday, August 17th. This represents a $0.30 annualized dividend and a yield of 1.05%. Symantec Corporation’s payout ratio is currently -49.18%.
Several equities analysts recently issued reports on SYMC shares. Robert W. Baird reissued a “hold” rating on shares of Symantec Corporation in a research report on Thursday, May 11th. First Analysis raised Symantec Corporation from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $28.00 to $40.00 in a research report on Thursday, May 11th. Zacks Investment Research raised Symantec Corporation from a “sell” rating to a “hold” rating in a research report on Tuesday, May 9th. MKM Partners reissued a “neutral” rating and issued a $30.00 target price (up from $26.00) on shares of Symantec Corporation in a research report on Monday, May 15th. Finally, Jefferies Group LLC upped their target price on Symantec Corporation from $29.00 to $31.00 and gave the company a “hold” rating in a research report on Thursday, May 11th. Two equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and thirteen have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $31.00.
In other news, CAO Mark S. Garfield sold 11,397 shares of the stock in a transaction that occurred on Friday, June 2nd. The shares were sold at an average price of $30.06, for a total value of $342,593.82. Following the sale, the chief accounting officer now directly owns 51,068 shares in the company, valued at $1,535,104.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Suzanne M. Vautrinot sold 2,500 shares of the stock in a transaction that occurred on Monday, July 3rd. The shares were sold at an average price of $28.45, for a total transaction of $71,125.00. The disclosure for this sale can be found here. Insiders have sold 1,475,916 shares of company stock worth $42,723,358 over the last 90 days. 0.76% of the stock is currently owned by company 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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