Jackson Square Partners LLC decreased its stake in shares of Symantec Corporation (NASDAQ:SYMC) by 13.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 17,411,636 shares of the technology company’s stock after selling 2,659,950 shares during the period. Symantec makes up 2.8% of Jackson Square Partners LLC’s investment portfolio, making the stock its 13th largest holding. Jackson Square Partners LLC owned approximately 2.81% of Symantec worth $571,275,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Bessemer Group Inc. lifted its position in Symantec by 1.2% during the 2nd quarter. Bessemer Group Inc. now owns 9,311 shares of the technology company’s stock valued at $263,000 after acquiring an additional 106 shares during the period. Wetherby Asset Management Inc. lifted its position in Symantec by 2.8% during the 2nd quarter. Wetherby Asset Management Inc. now owns 8,885 shares of the technology company’s stock valued at $251,000 after acquiring an additional 246 shares during the period. Blair William & Co. IL lifted its position in Symantec by 2.2% during the 2nd quarter. Blair William & Co. IL now owns 13,309 shares of the technology company’s stock valued at $376,000 after acquiring an additional 291 shares during the period. Northwestern Mutual Wealth Management Co. raised its holdings in Symantec by 7.9% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 3,982 shares of the technology company’s stock worth $112,000 after buying an additional 292 shares during the last quarter. Finally, Johnson Financial Group Inc. raised its holdings in Symantec by 6.2% in the second quarter. Johnson Financial Group Inc. now owns 5,596 shares of the technology company’s stock worth $158,000 after buying an additional 325 shares during the last quarter. 94.74% of the stock is owned by institutional investors.
In other Symantec news, Director Suzanne M. Vautrinot sold 2,500 shares of Symantec stock in a transaction on Monday, October 2nd. The shares were sold at an average price of $32.81, for a total transaction of $82,025.00. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Francis C. Rosch sold 57,103 shares of Symantec stock in a transaction on Wednesday, December 6th. The stock was sold at an average price of $27.42, for a total transaction of $1,565,764.26. Following the sale, the executive vice president now directly owns 325,026 shares in the company, valued at approximately $8,912,212.92. The disclosure for this sale can be found here. Insiders sold a total of 434,603 shares of company stock worth $12,665,289 in the last three months. 1.30% of the stock is owned by corporate insiders.
Symantec (NASDAQ:SYMC) last issued its quarterly earnings data on Wednesday, November 1st. The technology company reported $0.40 EPS for the quarter, topping analysts’ consensus estimates of $0.26 by $0.14. The business had revenue of $1.28 billion for the quarter, compared to analysts’ expectations of $1.27 billion. Symantec had a negative net margin of 5.29% and a positive return on equity of 12.33%. The business’s revenue was up 25.7% on a year-over-year basis. During the same quarter last year, the company earned $0.30 EPS. equities research analysts anticipate that Symantec Corporation will post 1.05 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Wednesday, December 13th. Investors of record on Monday, November 20th were paid a $0.075 dividend. The ex-dividend date was Friday, November 17th. This represents a $0.30 dividend on an annualized basis and a yield of 1.07%. Symantec’s dividend payout ratio is currently -51.72%.
Several research analysts have issued reports on SYMC shares. Zacks Investment Research cut shares of Symantec from a “hold” rating to a “sell” rating in a report on Tuesday, October 3rd. Moffett Nathanson began coverage on shares of Symantec in a research report on Wednesday, September 6th. They set a “neutral” rating and a $33.00 target price for the company. Credit Suisse Group began coverage on shares of Symantec in a research report on Tuesday, September 5th. They issued an “outperform” rating and a $36.00 price target for the company. Barclays reiterated a “buy” rating and issued a $36.00 price target on shares of Symantec in a research report on Thursday, November 2nd. Finally, Morgan Stanley lowered their target price on shares of Symantec from $34.00 to $31.00 and set an “equal weight” rating on the stock in a report on Friday, November 3rd. Three investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating and nine have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $32.29.
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Symantec Corporation is a United States-based cyber security company. The Company offers products under categories, such as threat protection, information protection and cyber security services. 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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