Los Angeles Capital Management & Equity Research Inc. raised its holdings in Symantec Co. (NASDAQ:SYMC) by 854.6% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 468,553 shares of the technology company’s stock after buying an additional 419,470 shares during the period. Los Angeles Capital Management & Equity Research Inc. owned about 0.07% of Symantec worth $10,772,000 as of its most recent SEC filing.
Other institutional investors have also bought and sold shares of the company. Vanguard Group Inc boosted its stake in shares of Symantec by 1.4% during the 3rd quarter. Vanguard Group Inc now owns 65,537,473 shares of the technology company’s stock worth $1,394,637,000 after acquiring an additional 902,112 shares in the last quarter. BlackRock Inc. raised its position in shares of Symantec by 3.3% during the 4th quarter. BlackRock Inc. now owns 42,309,498 shares of the technology company’s stock worth $799,438,000 after purchasing an additional 1,366,225 shares during the last quarter. CI Investments Inc. acquired a new position in shares of Symantec during the 4th quarter worth approximately $192,976,000. FMR LLC raised its position in shares of Symantec by 44.1% during the 4th quarter. FMR LLC now owns 8,779,685 shares of the technology company’s stock worth $165,892,000 after purchasing an additional 2,686,107 shares during the last quarter. Finally, Northern Trust Corp raised its position in shares of Symantec by 6.8% during the 4th quarter. Northern Trust Corp now owns 7,027,112 shares of the technology company’s stock worth $132,776,000 after purchasing an additional 448,919 shares during the last quarter. Institutional investors own 89.96% of the company’s stock.
Shares of SYMC stock traded down $0.24 on Wednesday, reaching $20.29. 7,566,384 shares of the stock were exchanged, compared to its average volume of 5,778,159. The company has a market cap of $12.97 billion, a price-to-earnings ratio of 17.34, a PEG ratio of 1.99 and a beta of 1.09. The company has a quick ratio of 1.02, a current ratio of 0.85 and a debt-to-equity ratio of 0.69. Symantec Co. has a 1-year low of $17.42 and a 1-year high of $24.77.
Symantec (NASDAQ:SYMC) last released its quarterly earnings data on Thursday, May 9th. The technology company reported $0.39 EPS for the quarter, hitting analysts’ consensus estimates of $0.39. Symantec had a return on equity of 13.05% and a net margin of 0.59%. The business had revenue of $1.20 billion during the quarter, compared to the consensus estimate of $1.21 billion. During the same period in the prior year, the firm posted $0.46 EPS. The business’s revenue for the quarter was down 2.2% on a year-over-year basis. As a group, analysts expect that Symantec Co. will post 1.26 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 26th. Investors of record on Monday, June 10th will be given a dividend of $0.075 per share. The ex-dividend date is Friday, June 7th. This represents a $0.30 dividend on an annualized basis and a yield of 1.48%. Symantec’s dividend payout ratio (DPR) is 25.64%.
SYMC has been the subject of several research reports. Zacks Investment Research upgraded Symantec from a “hold” rating to a “buy” rating and set a $23.00 price objective for the company in a research report on Wednesday, January 30th. Robert W. Baird restated a “hold” rating and set a $25.00 price objective on shares of Symantec in a research report on Friday, February 1st. Credit Suisse Group reiterated a “hold” rating and issued a $23.00 price target on shares of Symantec in a report on Friday, February 1st. Evercore ISI reiterated a “hold” rating and issued a $22.00 price target on shares of Symantec in a report on Monday, February 4th. Finally, Mizuho initiated coverage on Symantec in a report on Tuesday, March 26th. They issued a “neutral” rating and a $25.00 price target for the company. Two analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and three have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $22.13.
In related news, insider Gregory S. Clark sold 636,209 shares of the company’s stock in a transaction on Wednesday, April 10th. The shares were sold at an average price of $23.69, for a total transaction of $15,071,791.21. Following the completion of the sale, the insider now directly owns 1,503,837 shares of the company’s stock, valued at approximately $35,625,898.53. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Matthew Charles Brown sold 5,393 shares of the company’s stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $21.90, for a total transaction of $118,106.70. Following the sale, the vice president now directly owns 58,514 shares of the company’s stock, valued at $1,281,456.60. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,052,927 shares of company stock valued at $24,563,645. 1.90% of the stock is owned by corporate insiders.
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.
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