Symantec Co. (NASDAQ:SYMC) had its target price hoisted by Morgan Stanley from $33.00 to $37.00 in a research report report published on Wednesday morning. They currently have an overweight rating on the stock.
SYMC has been the topic of a number of other reports. Royal Bank of Canada reissued an outperform rating and set a $30.00 price target (up from $28.00) on shares of Symantec in a report on Monday, January 30th. Wunderlich increased their price target on shares of Symantec from $30.00 to $32.00 and gave the stock a buy rating in a report on Monday, February 27th. Instinet reissued a neutral rating and set a $27.00 price target (up from $25.00) on shares of Symantec in a report on Sunday, February 5th. Zacks Investment Research raised shares of Symantec from a sell rating to a hold rating and set a $27.00 price target on the stock in a report on Tuesday, January 3rd. Finally, Jefferies Group LLC increased their price target on shares of Symantec from $23.00 to $27.00 and gave the stock a hold rating in a report on Wednesday, January 18th. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating and ten have assigned a buy rating to the company’s stock. The company currently has an average rating of Hold and an average price target of $28.20.
Shares of Symantec (NASDAQ:SYMC) opened at 30.47 on Wednesday. The stock has a 50 day moving average of $29.45 and a 200-day moving average of $26.14. Symantec has a 12-month low of $16.25 and a 12-month high of $31.10. The company has a market capitalization of $18.86 billion, a P/E ratio of 9.18 and a beta of 1.17.
Symantec (NASDAQ:SYMC) last announced its quarterly earnings results on Wednesday, February 1st. The company reported $0.32 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.28 by $0.04. Symantec had a net margin of 55.12% and a return on equity of 12.69%. The firm had revenue of $1.09 billion for the quarter, compared to the consensus estimate of $1.08 billion. During the same period in the prior year, the firm posted $0.26 earnings per share. The firm’s quarterly revenue was up 19.7% compared to the same quarter last year. Equities research analysts forecast that Symantec will post $1.19 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 15th. Stockholders of record on Monday, February 20th were given a $0.075 dividend. This represents a $0.30 dividend on an annualized basis and a dividend yield of 0.98%. The ex-dividend date was Thursday, February 16th. Symantec’s dividend payout ratio (DPR) is 9.35%.
In other news, Director Suzanne M. Vautrinot sold 2,500 shares of the stock in a transaction dated Friday, January 6th. The shares were sold at an average price of $25.00, for a total value of $62,500.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Mark S. Garfield sold 3,002 shares of the stock in a transaction dated Wednesday, March 8th. The shares were sold at an average price of $29.25, for a total transaction of $87,808.50. Following the completion of the sale, the chief accounting officer now owns 63,508 shares of the company’s stock, valued at $1,857,609. The disclosure for this sale can be found here. Insiders sold 99,732 shares of company stock valued at $2,728,370 over the last quarter. Company insiders own 0.76% of the company’s stock.
Several large investors have recently modified their holdings of the stock. Kentucky Retirement Systems acquired a new stake in shares of Symantec during the second quarter worth approximately $1,069,000. Kentucky Retirement Systems Insurance Trust Fund acquired a new stake in shares of Symantec during the second quarter worth approximately $508,000. Macquarie Group Ltd. boosted its stake in shares of Symantec by 0.3% in the second quarter. Macquarie Group Ltd. now owns 336,900 shares of the company’s stock worth $6,920,000 after buying an additional 1,050 shares during the period. Oregon Public Employees Retirement Fund boosted its stake in shares of Symantec by 32.4% in the third quarter. Oregon Public Employees Retirement Fund now owns 196,333 shares of the company’s stock worth $4,928,000 after buying an additional 48,097 shares during the period. Finally, Raymond James Trust N.A. acquired a new stake in shares of Symantec during the third quarter worth approximately $233,000. Institutional investors and hedge funds own 93.90% of the company’s stock.
Symantec Corporation is a United States-based cyber security company. The Company offers products under categories, such as threat protection, information protection, cyber security services and Website security. 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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