Ameriprise Financial Inc. lowered its stake in shares of Symantec Corp. (NASDAQ:SYMC) by 20.6% during the second quarter, Holdings Channel reports. The firm owned 297,242 shares of the company’s stock after selling 77,096 shares during the period. Ameriprise Financial Inc.’s holdings in Symantec Corp. were worth $6,104,000 as of its most recent filing with the SEC.
Several other hedge funds also recently bought and sold shares of the stock. Assetmark Inc. boosted its stake in Symantec Corp. by 456.1% in the second quarter. Assetmark Inc. now owns 26,285 shares of the company’s stock valued at $540,000 after buying an additional 21,558 shares during the period. Moors & Cabot Inc. raised its position in Symantec Corp. by 3.9% in the second quarter. Moors & Cabot Inc. now owns 26,605 shares of the company’s stock valued at $541,000 after buying an additional 1,006 shares in the last quarter. Shufro Rose & Co. LLC raised its position in Symantec Corp. by 9.2% in the second quarter. Shufro Rose & Co. LLC now owns 75,105 shares of the company’s stock valued at $1,543,000 after buying an additional 6,315 shares in the last quarter. LSV Asset Management raised its position in Symantec Corp. by 6.1% in the second quarter. LSV Asset Management now owns 9,870,223 shares of the company’s stock valued at $202,734,000 after buying an additional 566,600 shares in the last quarter. Finally, Janney Montgomery Scott LLC raised its position in Symantec Corp. by 79.2% in the second quarter. Janney Montgomery Scott LLC now owns 73,028 shares of the company’s stock valued at $1,513,000 after buying an additional 32,269 shares in the last quarter. Hedge funds and other institutional investors own 94.93% of the company’s stock.
Shares of Symantec Corp. (NASDAQ:SYMC) traded down 0.44% on Tuesday, reaching $25.14. 1,145,589 shares of the company’s stock traded hands. The company has a market cap of $15.48 billion, a PE ratio of 6.56 and a beta of 1.10. Symantec Corp. has a 12-month low of $16.14 and a 12-month high of $25.72. The stock has a 50-day moving average price of $24.70 and a 200-day moving average price of $20.53.
Symantec Corp. (NASDAQ:SYMC) last announced its earnings results on Thursday, August 4th. The company reported $0.29 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.25 by $0.04. Symantec Corp. had a net margin of 60.18% and a return on equity of 13.56%. The business had revenue of $884 million for the quarter, compared to the consensus estimate of $876.96 million. During the same quarter in the prior year, the firm posted $0.40 earnings per share. The business’s revenue for the quarter was down 3.1% on a year-over-year basis. Equities research analysts anticipate that Symantec Corp. will post $1.12 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Wednesday, September 14th. Stockholders of record on Monday, August 22nd were paid a $0.075 dividend. This represents a $0.30 annualized dividend and a dividend yield of 1.19%. The ex-dividend date was Thursday, August 18th. Symantec Corp.’s dividend payout ratio is currently 7.79%.
Several research firms recently commented on SYMC. Evercore ISI raised shares of Symantec Corp. from a “sell” rating to a “hold” rating in a report on Wednesday, June 29th. MKM Partners increased their target price on shares of Symantec Corp. from $18.00 to $21.00 and gave the company a “neutral” rating in a report on Tuesday, August 2nd. RBC Capital Markets reaffirmed an “outperform” rating and set a $25.00 target price (up previously from $24.00) on shares of Symantec Corp. in a report on Friday, August 5th. Piper Jaffray Cos. reaffirmed an “overweight” rating and set a $24.00 target price on shares of Symantec Corp. in a report on Tuesday, July 5th. Finally, Oppenheimer Holdings Inc. raised shares of Symantec Corp. from a “market perform” rating to an “outperform” rating and set a $28.00 target price on the stock in a report on Friday, August 5th. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating and eleven have issued a buy rating to the company’s stock. Symantec Corp. currently has a consensus rating of “Hold” and a consensus price target of $24.66.
In other news, EVP Francis C. Rosch sold 3,336 shares of the stock in a transaction 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 sale, the executive vice president now owns 299,895 shares of the company’s stock, valued at $7,461,387.60. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Amy L. Cappellanti-Wolf sold 15,474 shares of the stock in a transaction on Thursday, September 15th. The shares were 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 directly owns 112,103 shares in the company, valued at approximately $2,789,122.64. The disclosure for this sale can be found here. 0.76% of the stock is currently owned by insiders.
About Symantec Corp.
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.
Want to see what other hedge funds are holding SYMC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Symantec Corp. (NASDAQ:SYMC).
Receive News & Ratings for Symantec Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Symantec Corp. and related companies with MarketBeat.com's FREE daily email newsletter.