FTB Advisors Inc. cut its position in shares of Symantec Corp. (NASDAQ:SYMC) by 10.0% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 14,074 shares of the company’s stock after selling 1,560 shares during the period. FTB Advisors Inc.’s holdings in Symantec Corp. were worth $289,000 at the end of the most recent reporting period.
Other large investors have also recently modified their holdings of the company. Americafirst Capital Management LLC bought a new position in Symantec Corp. during the second quarter valued at approximately $109,000. Nikko Asset Management Americas Inc. bought a new position in Symantec Corp. during the second quarter valued at approximately $169,000. Mariner Wealth Advisors LLC bought a new position in Symantec Corp. during the first quarter valued at approximately $206,000. Essex Investment Management Co. LLC bought a new position in Symantec Corp. during the second quarter valued at approximately $246,000. Finally, CIBC World Markets Inc. boosted its position in Symantec Corp. by 51.8% in the second quarter. CIBC World Markets Inc. now owns 15,758 shares of the company’s stock valued at $324,000 after buying an additional 5,379 shares during the last quarter. 94.93% of the stock is owned by institutional investors and hedge funds.
Shares of Symantec Corp. (NASDAQ:SYMC) traded down 0.680% during midday trading on Friday, reaching $24.115. The company’s stock had a trading volume of 5,566,762 shares. Symantec Corp. has a 12 month low of $16.14 and a 12 month high of $25.72. The stock’s 50 day moving average is $24.79 and its 200 day moving average is $20.62. The stock has a market capitalization of $14.84 billion, a PE ratio of 6.290 and a beta of 1.10.
Symantec Corp. (NASDAQ:SYMC) last released its quarterly earnings results on Thursday, August 4th. The company reported $0.29 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.25 by $0.04. The company had revenue of $884 million for the quarter, compared to analysts’ expectations of $876.96 million. Symantec Corp. had a return on equity of 13.56% and a net margin of 60.18%. The business’s revenue for the quarter was down 3.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.40 earnings per share. On average, analysts forecast that Symantec Corp. will post $1.12 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 14th. Stockholders of record on Monday, August 22nd were issued a dividend of $0.075 per share. The ex-dividend date was Thursday, August 18th. This represents a $0.30 dividend on an annualized basis and a dividend yield of 1.24%. Symantec Corp.’s dividend payout ratio (DPR) is presently 7.79%.
Several research firms recently commented on SYMC. Wunderlich boosted their target price on Symantec Corp. from $19.00 to $23.00 and gave the stock a “hold” rating in a research note on Friday, August 5th. Wells Fargo & Co. reaffirmed a “market perform” rating and set a $24.00 price objective (up from $20.00) on shares of Symantec Corp. in a research report on Friday, August 5th. FBN Securities began coverage on Symantec Corp. in a research report on Thursday. They set an “outperform” rating and a $29.00 price objective for the company. RBC Capital Markets reaffirmed an “outperform” rating and set a $25.00 price objective (up from $24.00) on shares of Symantec Corp. in a research report on Friday, August 5th. Finally, Barclays PLC began coverage on Symantec Corp. in a research report on Friday, August 5th. They set an “equal weight” rating and a $24.00 price objective for the company. One 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 currently has a consensus rating of “Hold” and an average target price of $24.87.
In related news, EVP Francis C. Rosch sold 3,336 shares of the business’s stock in a transaction that occurred on Wednesday, September 7th. The stock was sold at an average price of $24.88, for a total transaction 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 filing with the SEC, which is available through the SEC website. Also, SVP Amy L. Cappellanti-Wolf sold 15,474 shares of the business’s stock in a transaction that occurred on Thursday, September 15th. The stock was sold at an average price of $24.88, for a total value of $384,993.12. Following 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. Insiders own 0.76% of the company’s stock.
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.
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