Prudential Financial Inc. reduced its stake in Symantec Corp. (NASDAQ:SYMC) by 27.9% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 1,243,581 shares of the company’s stock after selling 480,921 shares during the period. Prudential Financial Inc. owned approximately 0.20% of Symantec Corp. worth $25,543,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in SYMC. Acadian Asset Management LLC boosted its position in Symantec Corp. by 59,280.6% in the first quarter. Acadian Asset Management LLC now owns 116,386 shares of the company’s stock valued at $2,140,000 after buying an additional 116,190 shares during the last quarter. PGGM Investments boosted its position in Symantec Corp. by 2.5% in the first quarter. PGGM Investments now owns 451,372 shares of the company’s stock valued at $8,296,000 after buying an additional 10,973 shares during the last quarter. Telemus Capital LLC purchased a new position in Symantec Corp. during the first quarter valued at $301,000. Commonwealth Equity Services Inc boosted its position in Symantec Corp. by 10.2% in the first quarter. Commonwealth Equity Services Inc now owns 77,189 shares of the company’s stock valued at $1,419,000 after buying an additional 7,121 shares during the last quarter. Finally, Mn Services Vermogensbeheer B.V. purchased a new position in Symantec Corp. during the first quarter valued at $273,000. 94.93% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Symantec Corp. (NASDAQ:SYMC) opened at 25.04 on Friday. The company’s 50 day moving average is $23.86 and its 200 day moving average is $19.96. The company has a market cap of $15.41 billion, a P/E ratio of 6.53 and a beta of 1.07. Symantec Corp. has a 12 month low of $16.14 and a 12 month high of $25.37.
Symantec Corp. (NASDAQ:SYMC) last issued its quarterly earnings results on Thursday, August 4th. The company reported $0.29 EPS for the quarter, beating the consensus estimate of $0.25 by $0.04. The company had revenue of $884 million for the quarter, compared to the consensus estimate 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 was down 3.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.40 EPS. On average, equities research analysts predict that Symantec Corp. will post $1.12 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, September 14th. Investors of record on Monday, August 22nd were issued 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 yield of 1.20%. Symantec Corp.’s payout ratio is 7.79%.
A number of research firms recently commented on SYMC. Piper Jaffray Cos. reissued an “overweight” rating and issued a $24.00 target price on shares of Symantec Corp. in a research note on Wednesday, June 1st. BTIG Research raised Symantec Corp. from a “neutral” rating to a “buy” rating and set a $23.00 target price on the stock in a research note on Monday, June 13th. Raymond James Financial Inc. reissued a “market perform” rating on shares of Symantec Corp. in a research note on Wednesday, June 15th. Wunderlich reissued a “hold” rating and issued a $19.00 target price on shares of Symantec Corp. in a research note on Wednesday, June 15th. Finally, JMP Securities reissued a “buy” rating on shares of Symantec Corp. in a research note on Wednesday, June 15th. One investment analyst has rated the stock with a sell rating, fourteen have given a hold rating and twelve have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $24.42.
In other Symantec Corp. news, SVP Amy L. Cappellanti-Wolf sold 15,474 shares of the business’s stock in a transaction dated Thursday, September 15th. The shares were sold at an average price of $24.88, for a total value of $384,993.12. Following the completion of the sale, the senior vice president now directly owns 112,103 shares of the company’s stock, valued at approximately $2,789,122.64. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Suzanne M. Vautrinot sold 3,750 shares of the business’s stock in a transaction dated Monday, June 27th. The shares were sold at an average price of $20.22, for a total transaction of $75,825.00. 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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