Sumitomo Mitsui Trust Holdings Inc. decreased its position in Symantec Corp. (NASDAQ:SYMC) by 0.6% during the second quarter, Holdings Channel reports. The firm owned 1,872,825 shares of the company’s stock after selling 12,042 shares during the period. Sumitomo Mitsui Trust Holdings Inc.’s holdings in Symantec Corp. were worth $38,468,000 at the end of the most recent quarter.
Several other institutional investors have also modified their holdings of SYMC. Sumitomo Mitsui Asset Management Company LTD raised its position in shares of Symantec Corp. by 0.4% in the second quarter. Sumitomo Mitsui Asset Management Company LTD now owns 50,848 shares of the company’s stock worth $1,044,000 after buying an additional 183 shares during the period. LMR Partners LLP acquired a new position in shares of Symantec Corp. during the second quarter worth approximately $370,000. Arrow Investment Advisors LLC acquired a new position in shares of Symantec Corp. during the second quarter worth approximately $353,000. Tokio Marine Asset Management Co. Ltd. raised its position in shares of Symantec Corp. by 1.9% in the second quarter. Tokio Marine Asset Management Co. Ltd. now owns 22,870 shares of the company’s stock worth $470,000 after buying an additional 427 shares during the period. Finally, Essex Investment Management Co. LLC acquired a new position in shares of Symantec Corp. during the second quarter worth approximately $246,000. Institutional investors own 95.15% of the company’s stock.
Symantec Corp. (NASDAQ:SYMC) traded up 0.04% on Wednesday, reaching $24.23. 5,389,952 shares of the company’s stock were exchanged. The company has a market cap of $14.92 billion, a PE ratio of 6.32 and a beta of 1.10. The firm’s 50 day moving average price is $24.81 and its 200 day moving average price is $20.77. Symantec Corp. has a 52-week low of $16.14 and a 52-week high of $25.72.
Symantec Corp. (NASDAQ:SYMC) last issued its quarterly earnings results on Thursday, August 4th. The company reported $0.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.25 by $0.04. Symantec Corp. had a net margin of 60.18% and a return on equity of 13.56%. The company earned $884 million during the quarter, compared to analysts’ expectations of $876.96 million. During the same period last year, the company posted $0.40 EPS. Symantec Corp.’s revenue was down 3.1% on a year-over-year basis. On average, analysts expect that Symantec Corp. will post $1.12 earnings per share for the current year.
A number of equities analysts have recently commented on the stock. FBN Securities assumed coverage on shares of Symantec Corp. in a report on Thursday, October 13th. They set an “outperform” rating and a $29.00 price target on the stock. Wells Fargo & Co. reiterated a “hold” rating on shares of Symantec Corp. in a report on Sunday, September 25th. Barclays PLC lifted their price target on shares of Symantec Corp. from $24.00 to $26.00 and gave the stock an “equal weight” rating in a report on Monday, September 19th. Guggenheim initiated coverage on shares of Symantec Corp. in a report on Wednesday, September 14th. They issued a “buy” rating and a $30.00 target price on the stock. Finally, Wunderlich upgraded shares of Symantec Corp. from a “hold” rating to a “buy” rating and boosted their target price for the company from $23.00 to $30.00 in a report on Tuesday, September 13th. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and twelve have issued a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $24.87.
In related news, insider Michael David Fey sold 13,214 shares of Symantec Corp. stock in a transaction dated Friday, October 14th. The shares were sold at an average price of $24.40, for a total transaction of $322,421.60. Following the completion of the transaction, the insider now directly owns 288,953 shares of the company’s stock, valued at approximately $7,050,453.20. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Francis C. Rosch sold 3,336 shares of Symantec Corp. stock in a transaction dated Wednesday, September 7th. The shares were sold at an average price of $24.88, for a total transaction of $82,999.68. Following the transaction, the executive vice president now directly owns 299,895 shares of the company’s stock, valued at $7,461,387.60. The disclosure for this sale can be found here. Corporate insiders own 0.76% of the company’s stock.
Symantec Corp. Company Profile
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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