Retirement Systems of Alabama decreased its position in Symantec Corp. (NASDAQ:SYMC) by 4.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 312,155 shares of the company’s stock after selling 15,904 shares during the period. Retirement Systems of Alabama’s holdings in Symantec Corp. were worth $6,412,000 as of its most recent SEC filing.
A number of other large investors have also recently added to or reduced their stakes in the company. Orbis Allan Gray Ltd purchased a new stake in Symantec Corp. during the first quarter worth $79,811,000. Beutel Goodman & Co Ltd. increased its stake in Symantec Corp. by 9.7% in the second quarter. Beutel Goodman & Co Ltd. now owns 7,988,451 shares of the company’s stock worth $126,130,000 after buying an additional 709,147 shares during the period. Legal & General Group Plc increased its stake in Symantec Corp. by 0.9% in the first quarter. Legal & General Group Plc now owns 3,003,016 shares of the company’s stock worth $55,193,000 after buying an additional 27,987 shares during the period. Elliott Management Corp increased its stake in Symantec Corp. by 130.5% in the first quarter. Elliott Management Corp now owns 11,527,275 shares of the company’s stock worth $211,871,000 after buying an additional 6,527,275 shares during the period. Finally, Schonfeld Strategic Advisors LLC purchased a new stake in Symantec Corp. during the first quarter worth $658,000. 94.93% of the stock is currently owned by institutional investors and hedge funds.
Shares of Symantec Corp. (NASDAQ:SYMC) traded down 0.75% during trading on Tuesday, hitting $25.06. 8,884,386 shares of the stock traded hands. Symantec Corp. has a 1-year low of $16.14 and a 1-year high of $25.72. The firm has a market capitalization of $15.43 billion, a price-to-earnings ratio of 6.54 and a beta of 1.10. The firm has a 50-day moving average of $24.70 and a 200-day moving average of $20.53.
Symantec Corp. (NASDAQ:SYMC) last posted its quarterly earnings results on Thursday, August 4th. The company reported $0.29 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.25 by $0.04. The business had revenue of $884 million for the quarter, compared to analyst estimates of $876.96 million. Symantec Corp. had a net margin of 60.18% and a return on equity of 13.56%. The firm’s revenue for the quarter was down 3.1% on a year-over-year basis. During the same quarter last year, the business posted $0.40 EPS. On average, equities analysts forecast that Symantec Corp. will post $1.12 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, September 14th. Investors of record on Monday, August 22nd were given a dividend of $0.075 per share. The ex-dividend date of this dividend was Thursday, August 18th. This represents a $0.30 annualized dividend and a dividend yield of 1.20%. Symantec Corp.’s dividend payout ratio is 7.79%.
A number of equities research analysts recently weighed in on SYMC shares. Wells Fargo & Co. reissued a “hold” rating on shares of Symantec Corp. in a research report on Sunday, September 25th. Barclays PLC lifted their target price on Symantec Corp. from $24.00 to $26.00 and gave the stock an “equal weight” rating in a research report on Monday, September 19th. BTIG Research reaffirmed a “buy” rating and set a $28.00 price objective on shares of Symantec Corp. in a report on Thursday, August 25th. Piper Jaffray Cos. set a $27.00 price objective on Symantec Corp. and gave the company a “buy” rating in a report on Tuesday, August 23rd. Finally, Wunderlich raised Symantec Corp. from a “hold” rating to a “buy” rating and lifted their price objective for the company from $23.00 to $30.00 in a report on Tuesday, September 13th. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and eleven have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $24.66.
In other Symantec Corp. news, EVP Francis C. Rosch sold 3,336 shares of the firm’s stock in a transaction that occurred on Wednesday, September 7th. The shares were sold at an average price of $24.88, for a total value of $82,999.68. Following the sale, the executive vice president now owns 299,895 shares in the company, valued at $7,461,387.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Amy L. Cappellanti-Wolf sold 15,474 shares of the firm’s stock in a transaction that occurred on Thursday, September 15th. The shares were sold at an average price of $24.88, for a total transaction of $384,993.12. Following the completion of the sale, 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. Corporate insiders own 0.76% of the company’s stock.
About Symantec Corp.
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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