Bank of New York Mellon Corp lessened its position in Symantec Co. (NASDAQ:SYMC) by 1.0% in the 4th quarter, Holdings Channel reports. The fund owned 4,533,580 shares of the technology company’s stock after selling 45,435 shares during the period. Bank of New York Mellon Corp’s holdings in Symantec were worth $127,214,000 at the end of the most recent quarter.
Several other institutional investors have also recently added to or reduced their stakes in SYMC. United Bank Inc. purchased a new position in Symantec in the 3rd quarter worth about $200,000. Jaffetilchin Investment Partners LLC purchased a new position in Symantec in the 3rd quarter worth about $225,000. Genesee Valley Trust Co. purchased a new position in Symantec in the 4th quarter worth about $209,000. MUFG Americas Holdings Corp purchased a new position in Symantec in the 3rd quarter worth about $248,000. Finally, Lenox Wealth Advisors Inc. purchased a new position in Symantec in the 4th quarter worth about $224,000. Hedge funds and other institutional investors own 91.54% of the company’s stock.
Symantec Co. (SYMC) opened at $27.43 on Monday. The company has a current ratio of 1.15, a quick ratio of 1.15 and a debt-to-equity ratio of 1.13. The company has a market cap of $17,010.00, a PE ratio of 105.50, a price-to-earnings-growth ratio of 3.14 and a beta of 0.89. Symantec Co. has a 12-month low of $24.94 and a 12-month high of $34.20.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 14th. Stockholders of record on Tuesday, February 20th will be given a $0.075 dividend. This represents a $0.30 dividend on an annualized basis and a dividend yield of 1.09%. The ex-dividend date is Friday, February 16th. Symantec’s payout ratio is currently 115.38%.
In other news, EVP Francis C. Rosch sold 57,103 shares of Symantec stock in a transaction that occurred on Wednesday, December 6th. The shares were sold at an average price of $27.42, for a total value of $1,565,764.26. Following the transaction, the executive vice president now owns 325,026 shares of the company’s stock, valued at approximately $8,912,212.92. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.30% of the stock is owned by insiders.
SYMC has been the topic of several recent analyst reports. BidaskClub downgraded shares of Symantec from a “sell” rating to a “strong sell” rating in a research note on Saturday, January 13th. Credit Suisse Group downgraded shares of Symantec from an “outperform” rating to a “neutral” rating and reduced their price target for the stock from $36.00 to $30.00 in a research note on Monday, January 22nd. Morgan Stanley reduced their price target on shares of Symantec from $34.00 to $31.00 and set an “equal weight” rating on the stock in a research note on Friday, November 3rd. CIBC reaffirmed an “outperform” rating and issued a $33.00 price target (down previously from $35.00) on shares of Symantec in a research note on Thursday, November 2nd. Finally, Deutsche Bank initiated coverage on shares of Symantec in a research note on Tuesday, December 19th. They issued a “hold” rating and a $30.00 price target on the stock. Four equities research analysts have rated the stock with a sell rating, sixteen have given a hold rating and eight have issued a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $30.92.
Symantec Corporation is a United States-based cyber security company. The Company offers products under categories, such as threat protection, information protection and cyber security services. 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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