Brown Advisory Inc. purchased a new stake in shares of Symantec Corp. (NASDAQ:SYMC) during the second quarter, Holdings Channel reports. The fund purchased 13,057 shares of the company’s stock, valued at approximately $268,000.
Other institutional investors also recently made changes to their positions in the company. Americafirst Capital Management LLC bought a new position in shares of Symantec Corp. during the second quarter valued at about $109,000. FUKOKU MUTUAL LIFE INSURANCE Co boosted its position in shares of Symantec Corp. by 23.4% in the second quarter. FUKOKU MUTUAL LIFE INSURANCE Co now owns 5,800 shares of the company’s stock valued at $119,000 after buying an additional 1,100 shares in the last quarter. Global X Management Co. LLC boosted its position in shares of Symantec Corp. by 89.0% in the second quarter. Global X Management Co. LLC now owns 6,211 shares of the company’s stock valued at $128,000 after buying an additional 2,924 shares in the last quarter. Nikko Asset Management Americas Inc. bought a new position in shares of Symantec Corp. during the second quarter valued at about $169,000. Finally, Cambridge Trust Co. bought a new position in shares of Symantec Corp. during the second quarter valued at about $205,000. Institutional investors own 94.93% of the company’s stock.
Shares of Symantec Corp. (NASDAQ:SYMC) traded down 0.47% during trading on Thursday, hitting $25.27. 1,071,637 shares of the company were exchanged. The firm’s 50-day moving average price is $24.53 and its 200 day moving average price is $20.37. The firm has a market capitalization of $15.56 billion, a PE ratio of 6.59 and a beta of 1.10. Symantec Corp. has a 12 month low of $16.14 and a 12 month high of $25.72.
Symantec Corp. (NASDAQ:SYMC) last released its earnings results on Thursday, August 4th. The company reported $0.29 EPS for the quarter, topping analysts’ consensus estimates of $0.25 by $0.04. The company earned $884 million during the quarter, compared to analysts’ expectations of $876.96 million. Symantec Corp. had a net margin of 60.18% and a return on equity of 13.56%. Symantec Corp.’s revenue for the quarter was down 3.1% on a year-over-year basis. During the same period last year, the business earned $0.40 EPS. On average, equities research analysts expect that Symantec Corp. will post $1.12 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Wednesday, September 14th. Investors of record on Monday, August 22nd were paid a $0.075 dividend. This represents a $0.30 dividend on an annualized basis and a yield of 1.18%. The ex-dividend date of this dividend was Thursday, August 18th. Symantec Corp.’s dividend payout ratio (DPR) is presently 7.79%.
SYMC has been the topic of several research reports. Wells Fargo & Co. reissued a “hold” rating on shares of Symantec Corp. in a research note on Sunday, September 25th. Barclays PLC boosted their price objective on shares of Symantec Corp. from $24.00 to $26.00 and gave the stock an “equal weight” rating in a research note on Monday, September 19th. BTIG Research reissued a “buy” rating and set a $28.00 price objective on shares of Symantec Corp. in a research note on Thursday, August 25th. Piper Jaffray Cos. set a $27.00 price objective on shares of Symantec Corp. and gave the stock a “buy” rating in a research note on Tuesday, August 23rd. Finally, Wunderlich raised shares of Symantec Corp. from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $23.00 to $30.00 in a research note on Tuesday, September 13th. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating and twelve have issued a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $24.53.
In related news, EVP Francis C. Rosch sold 3,336 shares of Symantec Corp. stock in a transaction that occurred on Wednesday, September 7th. The shares were sold at an average price of $24.88, for a total value of $82,999.68. Following the completion of the sale, the executive vice president now directly owns 299,895 shares in the company, valued at approximately $7,461,387.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Amy L. Cappellanti-Wolf sold 15,474 shares of Symantec Corp. stock in a transaction that occurred on Thursday, September 15th. The stock was sold at an average price of $24.88, for a total transaction of $384,993.12. Following the completion of the sale, the senior vice president now owns 112,103 shares of the company’s stock, valued at $2,789,122.64. The disclosure for this sale can be found here. 0.76% of the stock is currently owned by corporate insiders.
Symantec Corp. Company Profile
Symantec Corporation provides security and information management solutions. The Company operates its business on a global civilian cyber intelligence threat network and tracks various threats across the Internet from mobile devices, endpoints, and servers across the world. It is developing solutions for cloud, threat protection, information protection and cyber security services.
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