Swiss National Bank boosted its stake in Symantec Corporation (NASDAQ:SYMC) by 2.4% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,260,976 shares of the technology company’s stock after purchasing an additional 52,000 shares during the quarter. Swiss National Bank owned about 0.37% of Symantec Corporation worth $63,873,000 as of its most recent SEC filing.
A number of other institutional investors have also recently added to or reduced their stakes in the stock. Westpac Banking Corp raised its holdings in Symantec Corporation by 69.2% in the 1st quarter. Westpac Banking Corp now owns 60,637 shares of the technology company’s stock worth $1,115,000 after purchasing an additional 24,805 shares in the last quarter. Kwmg LLC boosted its stake in shares of Symantec Corporation by 61.0% during the first quarter. Kwmg LLC now owns 56,378 shares of the technology company’s stock valued at $1,730,000 after purchasing an additional 21,367 shares during the period. Commerce Bank raised its holdings in shares of Symantec Corporation by 352.5% in the second quarter. Commerce Bank now owns 43,888 shares of the technology company’s stock valued at $1,240,000 after acquiring an additional 34,189 shares in the last quarter. Spirit of America Management Corp NY raised its holdings in Symantec Corporation by 9.9% in the second quarter. Spirit of America Management Corp NY now owns 26,200 shares of the technology company’s stock worth $740,000 after purchasing an additional 2,350 shares in the last quarter. Finally, Municipal Employees Retirement System of Michigan grew its stake in shares of Symantec Corporation by 1.5% during the first quarter. Municipal Employees Retirement System of Michigan now owns 20,120 shares of the technology company’s stock worth $617,000 after acquiring an additional 290 shares during the last quarter. Institutional investors and hedge funds own 91.72% of the company’s stock.
In related news, Director Suzanne M. Vautrinot sold 2,500 shares of the business’s stock in a transaction on Monday, July 3rd. The shares were sold at an average price of $28.45, for a total value of $71,125.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Amy L. Cappellanti-Wolf sold 2,163 shares of the business’s stock in a transaction dated Tuesday, September 5th. The stock was sold at an average price of $29.85, for a total transaction of $64,565.55. Following the completion of the transaction, the senior vice president now owns 115,997 shares of the company’s stock, valued at $3,462,510.45. The disclosure for this sale can be found here. In the last three months, insiders sold 1,657,621 shares of company stock worth $48,174,811. Insiders own 1.30% of the company’s stock.
Symantec Corporation (SYMC) traded up 0.98% during trading on Monday, reaching $31.94. The company had a trading volume of 1,718,948 shares. The stock’s market cap is $19.57 billion. Symantec Corporation has a 52-week low of $22.76 and a 52-week high of $33.22. The company has a 50-day moving average price of $29.65 and a 200 day moving average price of $29.98.
Symantec Corporation (NASDAQ:SYMC) last issued its earnings results on Wednesday, August 2nd. The technology company reported $0.15 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.12 by $0.03. The company had revenue of $1.23 billion for the quarter, compared to analysts’ expectations of $1.20 billion. Symantec Corporation had a negative net margin of 8.68% and a positive return on equity of 10.73%. Symantec Corporation’s quarterly revenue was up 38.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.29 EPS. On average, analysts anticipate that Symantec Corporation will post $1.81 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 13th. Shareholders of record on Monday, August 21st will be given a $0.075 dividend. This represents a $0.30 annualized dividend and a yield of 0.95%. The ex-dividend date is Thursday, August 17th. Symantec Corporation’s dividend payout ratio is -49.18%.
A number of equities analysts have recently weighed in on SYMC shares. UBS AG cut Symantec Corporation from a “buy” rating to a “neutral” rating and increased their price target for the stock from $31.00 to $33.00 in a report on Thursday, May 18th. Robert W. Baird reaffirmed a “hold” rating and issued a $32.00 target price on shares of Symantec Corporation in a research report on Friday. Evercore ISI set a $25.00 price target on Symantec Corporation and gave the company a “hold” rating in a research note on Saturday, June 10th. Barclays PLC restated an “overweight” rating and set a $36.00 target price (down from $38.00) on shares of Symantec Corporation in a report on Wednesday, August 9th. Finally, Moffett Nathanson started coverage on shares of Symantec Corporation in a report on Wednesday, September 6th. They set a “neutral” rating and a $33.00 target price for the company. One research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and fourteen have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $31.30.
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Symantec Corporation Profile
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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