Northwestern Mutual Investment Management Company LLC boosted its position in Symantec Co. (NASDAQ:SYMC) by 1.6% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 97,133 shares of the technology company’s stock after purchasing an additional 1,527 shares during the quarter. Northwestern Mutual Investment Management Company LLC’s holdings in Symantec were worth $2,233,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently made changes to their positions in the business. PNC Financial Services Group Inc. increased its holdings in shares of Symantec by 59.5% during the fourth quarter. PNC Financial Services Group Inc. now owns 152,865 shares of the technology company’s stock valued at $2,889,000 after acquiring an additional 57,015 shares in the last quarter. Strs Ohio increased its holdings in shares of Symantec by 6,355.7% during the first quarter. Strs Ohio now owns 507,867 shares of the technology company’s stock valued at $11,675,000 after acquiring an additional 500,000 shares in the last quarter. Matrix Asset Advisors Inc. NY increased its holdings in shares of Symantec by 10.1% during the fourth quarter. Matrix Asset Advisors Inc. NY now owns 229,857 shares of the technology company’s stock valued at $4,343,000 after acquiring an additional 21,003 shares in the last quarter. Nissay Asset Management Corp Japan ADV increased its holdings in shares of Symantec by 3.1% during the fourth quarter. Nissay Asset Management Corp Japan ADV now owns 46,701 shares of the technology company’s stock valued at $883,000 after acquiring an additional 1,388 shares in the last quarter. Finally, Piedmont Investment Advisors Inc. acquired a new position in shares of Symantec during the fourth quarter valued at about $2,065,000. Institutional investors and hedge funds own 91.72% of the company’s stock.
Shares of NASDAQ:SYMC opened at $18.73 on Monday. Symantec Co. has a twelve month low of $17.42 and a twelve month high of $24.77. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.85 and a current ratio of 0.85. The company has a market capitalization of $11.58 billion, a P/E ratio of 16.01, a price-to-earnings-growth ratio of 1.88 and a beta of 1.25.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 26th. Shareholders of record on Monday, June 10th will be given a $0.075 dividend. The ex-dividend date is Friday, June 7th. This represents a $0.30 annualized dividend and a yield of 1.60%. Symantec’s dividend payout ratio is presently 25.64%.
In related news, Director Peter A. Feld acquired 650,000 shares of the stock in a transaction on Wednesday, May 15th. The shares were acquired at an average price of $19.51 per share, for a total transaction of $12,681,500.00. Following the transaction, the director now owns 22,117 shares in the company, valued at approximately $431,502.67. The purchase was disclosed in a filing with the SEC, which is available through this link. Also, VP Matthew Charles Brown sold 5,393 shares of the company’s stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $21.90, for a total value of $118,106.70. Following the completion of the sale, the vice president now owns 58,514 shares in the company, valued at approximately $1,281,456.60. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,052,927 shares of company stock worth $24,563,645. Insiders own 1.90% of the company’s stock.
Several research firms have recently issued reports on SYMC. BidaskClub downgraded shares of Symantec from a “sell” rating to a “strong sell” rating in a report on Wednesday, May 29th. Robert W. Baird restated a “hold” rating and set a $22.00 price objective on shares of Symantec in a report on Tuesday, May 28th. Cowen began coverage on shares of Symantec in a report on Thursday, May 23rd. They set a “market perform” rating and a $22.00 price objective on the stock. ValuEngine upgraded shares of Symantec from a “sell” rating to a “hold” rating in a report on Wednesday, May 15th. Finally, Zacks Investment Research upgraded shares of Symantec from a “sell” rating to a “hold” rating in a report on Wednesday, May 15th. Two investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating and three have given a buy rating to the stock. Symantec presently has an average rating of “Hold” and an average target price of $21.94.
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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