Bp Plc continued to hold its stake in shares of Symantec Corp. (NASDAQ:SYMC) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 80,000 shares of the company’s stock at the end of the second quarter. Bp Plc’s holdings in Symantec Corp. were worth $1,642,000 at the end of the most recent reporting period.
Other hedge funds also recently made changes to their positions in the company. Elliott Management Corp increased its stake in shares of Symantec Corp. by 130.5% in the first quarter. Elliott Management Corp now owns 11,527,275 shares of the company’s stock valued at $211,871,000 after buying an additional 6,527,275 shares in the last quarter. Orbis Allan Gray Ltd bought a new stake in shares of Symantec Corp. during the first quarter valued at about $79,811,000. International Value Advisers LLC increased its stake in shares of Symantec Corp. by 78.6% in the first quarter. International Value Advisers LLC now owns 3,545,254 shares of the company’s stock valued at $65,162,000 after buying an additional 1,560,481 shares in the last quarter. Bank of Montreal Can bought a new stake in shares of Symantec Corp. during the second quarter valued at about $21,453,000. Finally, Beutel Goodman & Co Ltd. increased its stake in shares of Symantec Corp. by 9.7% in the second quarter. Beutel Goodman & Co Ltd. now owns 7,988,451 shares of the company’s stock valued at $126,130,000 after buying an additional 709,147 shares in the last quarter. Hedge funds and other institutional investors own 95.15% of the company’s stock.
Symantec Corp. (NASDAQ:SYMC) traded up 0.12% during midday trading on Tuesday, hitting $24.22. The stock had a trading volume of 8,454,910 shares. Symantec Corp. has a 52 week low of $16.14 and a 52 week high of $25.72. The company has a market cap of $14.91 billion, a PE ratio of 6.32 and a beta of 1.10. The stock’s 50 day moving average price is $24.79 and its 200-day moving average price is $20.76.
Symantec Corp. (NASDAQ:SYMC) last announced its earnings results on Thursday, August 4th. The company reported $0.29 EPS for the quarter, topping the consensus estimate of $0.25 by $0.04. The firm had revenue of $884 million for the quarter, compared to the consensus estimate of $876.96 million. Symantec Corp. had a net margin of 60.18% and a return on equity of 13.56%. The business’s quarterly revenue was down 3.1% on a year-over-year basis. During the same quarter last year, the firm posted $0.40 EPS. Equities research analysts predict that Symantec Corp. will post $1.12 earnings per share for the current year.
SYMC has been the subject of several recent research reports. Citigroup Inc. upgraded Symantec Corp. from a “neutral” rating to a “buy” rating and increased their price target for the company from $7.50 to $26.50 in a report on Friday, August 19th. Royal Bank Of Canada raised their target price on Symantec Corp. from $24.00 to $25.00 and gave the company an “outperform” rating in a research note on Friday, August 5th. Guggenheim started coverage on Symantec Corp. in a research note on Wednesday, September 14th. They set a “buy” rating and a $30.00 target price for the company. Wells Fargo & Co. restated a “hold” rating on shares of Symantec Corp. in a research note on Sunday, September 25th. Finally, Zacks Investment Research downgraded Symantec Corp. from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, August 10th. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and twelve have given a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $24.87.
In other news, EVP Francis C. Rosch sold 3,336 shares of the business’s stock in a transaction dated Wednesday, September 7th. The shares were sold at an average price of $24.88, for a total transaction of $82,999.68. Following the transaction, the executive vice president now owns 299,895 shares in the company, valued at approximately $7,461,387.60. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, SVP Amy L. Cappellanti-Wolf sold 15,474 shares of the business’s stock in a transaction dated Thursday, September 15th. The stock was sold at an average price of $24.88, for a total transaction of $384,993.12. Following the transaction, the senior vice president now 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 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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