Allen Investment Management LLC purchased a new stake in shares of Symantec Co. (NASDAQ:SYMC) in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 17,841 shares of the technology company’s stock, valued at approximately $410,000.
Several other institutional investors also recently bought and sold shares of SYMC. Covington Capital Management purchased a new stake in Symantec during the 4th quarter valued at about $28,000. PRW Wealth Management LLC acquired a new stake in Symantec during the 4th quarter worth $30,000. Parisi Gray Wealth Management acquired a new stake in Symantec during the 4th quarter worth $45,000. Bronfman E.L. Rothschild L.P. raised its stake in Symantec by 27.1% during the 4th quarter. Bronfman E.L. Rothschild L.P. now owns 3,363 shares of the technology company’s stock worth $64,000 after acquiring an additional 718 shares in the last quarter. Finally, CX Institutional raised its stake in Symantec by 133.1% during the 1st quarter. CX Institutional now owns 2,813 shares of the technology company’s stock worth $65,000 after acquiring an additional 1,606 shares in the last quarter. 91.71% of the stock is owned by hedge funds and other institutional investors.
SYMC traded up $0.06 during midday trading on Wednesday, reaching $20.86. 4,559,649 shares of the company’s stock were exchanged, compared to its average volume of 6,079,310. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.69. The firm has a market cap of $12.86 billion, a PE ratio of 17.83, a PEG ratio of 2.11 and a beta of 1.24. The company’s 50-day moving average price is $19.76. Symantec Co. has a 1-year low of $17.42 and a 1-year high of $24.77.
Symantec (NASDAQ:SYMC) last posted its quarterly earnings data on Thursday, May 9th. The technology company reported $0.39 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.39. The business had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1.21 billion. Symantec had a net margin of 0.59% and a return on equity of 13.05%. The company’s revenue was down 2.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.46 earnings per share. Equities analysts predict that Symantec Co. will post 1.26 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 26th. Investors of record on Monday, June 10th will be issued a $0.075 dividend. The ex-dividend date is Friday, June 7th. This represents a $0.30 dividend on an annualized basis and a yield of 1.44%. Symantec’s payout ratio is 25.64%.
In related news, insider Gregory S. Clark sold 61,170 shares of the business’s stock in a transaction that occurred on Friday, April 12th. The shares were sold at an average price of $24.00, for a total value of $1,468,080.00. Following the completion of the sale, the insider now directly owns 1,565,007 shares in the company, valued at $37,560,168. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Peter A. Feld bought 650,000 shares of the stock in a transaction that occurred on Wednesday, May 15th. The stock was bought at an average price of $19.51 per share, with a total value of $12,681,500.00. Following the completion of the acquisition, the director now owns 22,117 shares of the company’s stock, valued at approximately $431,502.67. The disclosure for this purchase can be found here. Over the last 90 days, insiders sold 715,379 shares of company stock valued at $16,972,051. 1.90% of the stock is owned by insiders.
Several research analysts have issued reports on SYMC shares. BidaskClub downgraded shares of Symantec from a “sell” rating to a “strong sell” rating in a research report on Wednesday, May 29th. Zacks Investment Research raised shares of Symantec from a “sell” rating to a “hold” rating in a research report on Wednesday, May 15th. Robert W. Baird reissued a “hold” rating on shares of Symantec in a research report on Friday, May 10th. Jefferies Financial Group lowered their price objective on shares of Symantec from $22.00 to $19.00 and set a “hold” rating on the stock in a research report on Friday, May 10th. Finally, Morgan Stanley downgraded shares of Symantec from an “equal weight” rating to an “underweight” rating and lowered their price objective for the stock from $23.00 to $14.00 in a research report on Tuesday, June 11th. Three analysts have rated the stock with a sell rating, eleven have issued a hold rating and four have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $21.44.
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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