State Board of Administration of Florida Retirement System lifted its holdings in shares of Symantec Co. (NASDAQ:SYMC) by 3.4% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 907,529 shares of the technology company’s stock after acquiring an additional 29,800 shares during the quarter. State Board of Administration of Florida Retirement System owned about 0.15% of Symantec worth $19,748,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors have also bought and sold shares of the company. FinTrust Capital Advisors LLC lifted its holdings in shares of Symantec by 995.1% during the 2nd quarter. FinTrust Capital Advisors LLC now owns 1,347 shares of the technology company’s stock valued at $29,000 after acquiring an additional 1,224 shares in the last quarter. Arcadia Investment Management Corp MI acquired a new position in shares of Symantec during the 2nd quarter valued at $39,000. Cullen Frost Bankers Inc. acquired a new position in shares of Symantec during the 2nd quarter valued at $57,000. Mizuho Securities Co. Ltd. acquired a new position in shares of Symantec during the 1st quarter valued at $76,000. Finally, CX Institutional lifted its holdings in shares of Symantec by 40.0% during the 2nd quarter. CX Institutional now owns 3,937 shares of the technology company’s stock valued at $86,000 after acquiring an additional 1,124 shares in the last quarter. Institutional investors and hedge funds own 90.06% of the company’s stock.
SYMC has been the topic of several recent research reports. William Blair restated a “market perform” rating on shares of Symantec in a report on Friday, August 9th. Cowen initiated coverage on shares of Symantec in a report on Thursday, May 23rd. They issued a “market perform” rating and a $22.00 price objective on the stock. Mizuho upgraded shares of Symantec from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $22.00 to $23.00 in a report on Monday, June 17th. Zacks Investment Research upgraded shares of Symantec from a “sell” rating to a “hold” rating in a report on Wednesday, May 15th. Finally, Morgan Stanley upgraded shares of Symantec from an “underweight” rating to an “equal weight” rating and set a $27.00 price objective on the stock in a report on Friday, August 9th. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and two have assigned a buy rating to the company. The company has an average rating of “Hold” and an average target price of $22.75.
SYMC opened at $23.22 on Friday. The company has a 50-day moving average of $23.10 and a 200-day moving average of $22.27. The company has a market capitalization of $14.65 billion, a P/E ratio of 19.85, a PEG ratio of 2.60 and a beta of 1.33. Symantec Co. has a 1-year low of $17.42 and a 1-year high of $26.07. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.71 and a current ratio of 0.71.
Symantec (NASDAQ:SYMC) last released its earnings results on Thursday, August 8th. The technology company reported $0.43 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.32 by $0.11. The company had revenue of $1.25 billion during the quarter, compared to the consensus estimate of $1.19 billion. Symantec had a net margin of 2.43% and a return on equity of 14.94%. The company’s revenue was up 7.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.34 EPS. As a group, sell-side analysts expect that Symantec Co. will post 1.33 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 18th. Stockholders of record on Monday, August 26th will be given a $0.075 dividend. This represents a $0.30 annualized dividend and a dividend yield of 1.29%. The ex-dividend date is Friday, August 23rd. Symantec’s payout ratio is currently 25.64%.
Symantec Company Profile
Symantec Corporation provides cybersecurity products, services, and solutions worldwide. The company operates through two segments, Enterprise Security and Consumer Digital Safety. The Enterprise Security segment provides endpoint and information protection products, including endpoint security, advanced threat protection, and information protection solutions and their related support services; and network and Web security products, such as network security, Web security, and cloud security solutions and their related support services.
Featured Story: What is the definition of market timing?
Receive News & Ratings for Symantec Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Symantec and related companies with MarketBeat.com's FREE daily email newsletter.