Cohen Klingenstein LLC continued to hold its position in shares of Symantec Corporation (NASDAQ:SYMC) during the second quarter, Holdings Channel reports. The firm owned 98,600 shares of the technology company’s stock at the end of the second quarter. Cohen Klingenstein LLC’s holdings in Symantec Corporation were worth $2,785,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Westpac Banking Corp boosted its position in shares of Symantec Corporation by 69.2% in the first quarter. Westpac Banking Corp now owns 60,637 shares of the technology company’s stock valued at $1,115,000 after buying an additional 24,805 shares during the period. Telemus Capital LLC boosted its position 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 during the period. Dodge & Cox purchased a new position in shares of Symantec Corporation during the fourth quarter valued at about $180,155,000. Kwmg LLC boosted its position in shares of Symantec Corporation by 61.0% in the first quarter. Kwmg LLC now owns 56,378 shares of the technology company’s stock valued at $1,730,000 after buying an additional 21,367 shares during the period. Finally, BNP Paribas Arbitrage SA boosted its position in shares of Symantec Corporation by 76.5% in the first quarter. BNP Paribas Arbitrage SA now owns 513,068 shares of the technology company’s stock valued at $15,741,000 after buying an additional 222,455 shares during the period. 94.02% of the stock is owned by institutional investors and hedge funds.
Symantec Corporation (NASDAQ:SYMC) traded up 1.46% during trading on Monday, hitting $30.52. 6,484,231 shares of the company’s stock were exchanged. The company’s 50-day moving average price is $29.63 and its 200 day moving average price is $28.82. The firm’s market cap is $18.56 billion. Symantec Corporation has a 12-month low of $20.06 and a 12-month high of $33.22.
Symantec Corporation (NASDAQ:SYMC) last released its quarterly earnings results on Wednesday, May 10th. The technology company reported $0.28 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.28. Symantec Corporation had a negative net margin of 2.64% and a positive return on equity of 11.06%. The firm had revenue of $1.18 billion for the quarter, compared to analysts’ expectations of $1.18 billion. During the same quarter last year, the company earned $0.22 EPS. The firm’s revenue for the quarter was up 34.7% compared to the same quarter last year. Equities analysts forecast that Symantec Corporation will post $1.79 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Wednesday, June 21st. Investors of record on Wednesday, June 7th were paid a $0.075 dividend. The ex-dividend date of this dividend was Monday, June 5th. This represents a $0.30 dividend on an annualized basis and a yield of 0.98%. Symantec Corporation’s dividend payout ratio is currently -176.47%.
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Several research analysts have recently weighed in on the stock. Morgan Stanley boosted their price objective on shares of Symantec Corporation from $33.00 to $37.00 and gave the company an “overweight” rating in a report on Wednesday, March 22nd. OTR Global raised shares of Symantec Corporation to a “positive” rating in a report on Friday, April 21st. Wells Fargo & Company reissued a “market perform” rating on shares of Symantec Corporation in a report on Friday, April 7th. Standpoint Research raised shares of Symantec Corporation from a “hold” rating to a “buy” rating in a report on Thursday, June 29th. Finally, Barclays PLC raised shares of Symantec Corporation from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $34.00 to $38.00 in a report on Tuesday, May 30th. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating and fifteen have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $30.79.
In other Symantec Corporation news, Director Suzanne M. Vautrinot sold 2,500 shares of Symantec Corporation stock in a transaction on Monday, July 3rd. The shares were sold at an average price of $28.45, for a total transaction of $71,125.00. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Nicholas R. Noviello sold 10,034 shares of Symantec Corporation stock in a transaction on Wednesday, July 12th. The stock was sold at an average price of $30.00, for a total transaction of $301,020.00. Following the sale, the chief financial officer now directly owns 236,787 shares in the company, valued at approximately $7,103,610. The disclosure for this sale can be found here. Insiders sold a total of 171,943 shares of company stock worth $5,239,930 in the last three months. 0.76% of the stock is owned by corporate insiders.
About Symantec Corporation
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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