Symantec Co. (NASDAQ:SYMC) was the target of a large increase in short interest in February. As of February 28th, there was short interest totalling 20,244,479 shares, an increase of 20.7% from the February 15th total of 16,769,509 shares. Currently, 3.1% of the shares of the stock are short sold. Based on an average daily volume of 5,351,123 shares, the short-interest ratio is presently 3.8 days.
SYMC has been the subject of a number of recent research reports. BidaskClub cut Symantec from a “sell” rating to a “strong sell” rating in a report on Saturday, January 13th. Credit Suisse Group lowered Symantec from an “outperform” rating to a “neutral” rating and reduced their price target for the company from $36.00 to $30.00 in a research report on Monday, January 22nd. Deutsche Bank assumed coverage on Symantec in a research report on Tuesday, December 19th. They issued a “hold” rating and a $30.00 price target on the stock. Zacks Investment Research upgraded Symantec from a “sell” rating to a “hold” rating in a research report on Tuesday, January 2nd. Finally, Barclays reduced their price target on Symantec from $36.00 to $34.00 and set an “overweight” rating on the stock in a research report on Thursday, February 1st. Three research analysts have rated the stock with a sell rating, seventeen have given a hold rating and seven have assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $30.87.
Shares of Symantec (NASDAQ:SYMC) opened at $27.85 on Monday. Symantec has a 52-week low of $24.94 and a 52-week high of $34.20. The company has a debt-to-equity ratio of 1.13, a quick ratio of 1.15 and a current ratio of 1.15. The company has a market capitalization of $17,310.00, a PE ratio of 107.12, a P/E/G ratio of 3.19 and a beta of 0.89.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 14th. Investors of record on Tuesday, February 20th will be given a dividend of $0.075 per share. The ex-dividend date of this dividend is Friday, February 16th. This represents a $0.30 annualized dividend and a dividend yield of 1.08%. Symantec’s payout ratio is 115.38%.
In other Symantec news, EVP Francis C. Rosch sold 51,899 shares of the company’s stock in a transaction dated Monday, March 5th. The stock was sold at an average price of $26.59, for a total value of $1,379,994.41. Following the completion of the transaction, the executive vice president now owns 213,026 shares of the company’s stock, valued at approximately $5,664,361.34. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. 1.30% of the stock is owned by corporate insiders.
Several institutional investors have recently made changes to their positions in SYMC. Delpha Capital Management LLC bought a new stake in shares of Symantec during the 4th quarter valued at about $162,000. Genesee Valley Trust Co. acquired a new position in Symantec during the 4th quarter worth approximately $209,000. Lenox Wealth Advisors Inc. acquired a new position in Symantec during the 4th quarter worth approximately $224,000. Jaffetilchin Investment Partners LLC acquired a new position in Symantec during the 3rd quarter worth approximately $225,000. Finally, Reilly Financial Advisors LLC raised its stake in Symantec by 223.5% during the 4th quarter. Reilly Financial Advisors LLC now owns 8,412 shares of the technology company’s stock worth $236,000 after buying an additional 5,812 shares during the period. Institutional investors own 94.83% of the company’s stock.
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Symantec Company Profile
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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