Northern Trust Corp increased its position in Symantec Co. (NASDAQ:SYMC) by 0.2% during the 1st quarter, HoldingsChannel reports. The firm owned 7,043,897 shares of the technology company’s stock after acquiring an additional 16,785 shares during the quarter. Northern Trust Corp’s holdings in Symantec were worth $161,939,000 at the end of the most recent quarter.
Other large investors have also recently made changes to their positions in the company. Vanguard Group Inc raised its stake in shares of Symantec by 1.4% in the third quarter. Vanguard Group Inc now owns 65,537,473 shares of the technology company’s stock worth $1,394,637,000 after purchasing an additional 902,112 shares during the last quarter. Dupont Capital Management Corp purchased a new position in shares of Symantec in the fourth quarter worth $182,000. Creative Planning raised its stake in shares of Symantec by 6.3% in the fourth quarter. Creative Planning now owns 25,778 shares of the technology company’s stock worth $487,000 after purchasing an additional 1,539 shares during the last quarter. M&T Bank Corp raised its stake in shares of Symantec by 3.7% in the fourth quarter. M&T Bank Corp now owns 60,948 shares of the technology company’s stock worth $1,152,000 after purchasing an additional 2,198 shares during the last quarter. Finally, Hartford Investment Management Co. raised its stake in shares of Symantec by 2.2% in the fourth quarter. Hartford Investment Management Co. now owns 70,761 shares of the technology company’s stock worth $1,337,000 after purchasing an additional 1,497 shares during the last quarter. 91.72% of the stock is currently owned by institutional investors.
A number of research firms recently commented on SYMC. BidaskClub cut Symantec from a “hold” rating to a “sell” rating in a research report on Saturday, May 4th. Zacks Investment Research cut Symantec from a “buy” rating to a “hold” rating in a research report on Wednesday, April 3rd. Mizuho began coverage on Symantec in a research report on Tuesday, March 26th. They set a “neutral” rating and a $25.00 price objective for the company. Goldman Sachs Group upgraded Symantec from a “neutral” rating to a “buy” rating and upped their price objective for the company from $23.00 to $28.00 in a research report on Monday, April 8th. Finally, ValuEngine cut Symantec from a “hold” rating to a “sell” rating in a research report on Wednesday, May 8th. Three analysts have rated the stock with a sell rating, twelve have assigned a hold rating and three have given a buy rating to the stock. Symantec currently has an average rating of “Hold” and a consensus price target of $21.38.
Symantec (NASDAQ:SYMC) last released its quarterly earnings results on Thursday, May 9th. The technology company reported $0.39 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate 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 analyst estimates of $1.21 billion. During the same quarter in the previous year, the company posted $0.46 earnings per share. Symantec’s revenue for the quarter was down 2.2% on a year-over-year basis. Equities analysts forecast that Symantec Co. will post 1.26 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 26th. Shareholders of record on Monday, June 10th will be issued a dividend of $0.075 per share. This represents a $0.30 annualized dividend and a yield of 1.57%. The ex-dividend date is Friday, June 7th. Symantec’s dividend payout ratio is presently 25.64%.
In other Symantec news, CFO Nicholas R. Noviello sold 332,155 shares of the business’s stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $22.50, for a total transaction of $7,473,487.50. Following the completion of the sale, the chief financial officer now owns 880,695 shares of the company’s stock, valued at $19,815,637.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Suzanne M. Vautrinot sold 18,000 shares of the company’s stock in a transaction dated Monday, April 8th. The stock was sold at an average price of $24.01, for a total value of $432,180.00. The disclosure for this sale can be found here. Insiders have sold 1,047,534 shares of company stock valued at $24,445,539 in the last three months. 1.90% of the stock is currently owned by corporate insiders.
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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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