Public Employees Retirement Association of Colorado reduced its stake in shares of Symantec Co. (NASDAQ:SYMC) by 1.4% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 123,759 shares of the technology company’s stock after selling 1,761 shares during the period. Public Employees Retirement Association of Colorado’s holdings in Symantec were worth $3,797,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently bought and sold shares of SYMC. State Street Corp increased its stake in shares of Symantec by 4.2% in the fourth quarter. State Street Corp now owns 27,513,797 shares of the technology company’s stock valued at $657,312,000 after buying an additional 1,108,641 shares during the period. Jackson Square Partners LLC purchased a new stake in shares of Symantec during the third quarter valued at about $565,123,000. Lone Pine Capital LLC purchased a new stake in shares of Symantec during the fourth quarter valued at about $317,066,000. Capital World Investors purchased a new stake in shares of Symantec during the third quarter valued at about $241,211,000. Finally, Dodge & Cox purchased a new stake in shares of Symantec during the fourth quarter valued at about $180,155,000. 93.90% of the stock is currently owned by institutional investors.
Shares of Symantec Co. (NASDAQ:SYMC) traded down 2.102% during mid-day trading on Friday, reaching $29.115. 9,461,375 shares of the company’s stock traded hands. The stock’s market cap is $17.99 billion. Symantec Co. has a 12 month low of $16.83 and a 12 month high of $33.22. The firm has a 50 day moving average price of $31.08 and a 200-day moving average price of $27.80.
Symantec (NASDAQ:SYMC) last released its quarterly earnings data on Wednesday, May 10th. The technology company reported $0.28 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.28. The business had revenue of $1.18 billion during the quarter, compared to analysts’ expectations of $1.18 billion. Symantec had a net margin of 55.12% and a return on equity of 12.69%. The firm’s quarterly revenue was up 34.7% compared to the same quarter last year. During the same period in the prior year, the company earned $0.22 EPS. On average, analysts predict that Symantec Co. will post $1.78 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 21st. Shareholders of record on Wednesday, June 7th will be issued a dividend of $0.075 per share. This represents a $0.30 dividend on an annualized basis and a yield of 1.01%. The ex-dividend date is Monday, June 5th. Symantec’s payout ratio is 9.35%.
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Several analysts have issued reports on the stock. Zacks Investment Research raised shares of Symantec from a “sell” rating to a “hold” rating in a research note on Wednesday, April 5th. Wunderlich restated a “buy” rating and set a $30.00 price target on shares of Symantec in a report on Tuesday, January 31st. JMP Securities boosted their price target on shares of Symantec to $32.00 in a report on Thursday, February 2nd. Royal Bank of Canada restated an “outperform” rating and set a $30.00 price target (up from $28.00) on shares of Symantec in a report on Monday, January 30th. Finally, OTR Global upgraded shares of Symantec to a “positive” rating in a report on Friday, April 21st. Two equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating and eleven have given a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $29.86.
In other news, insider Michael David Fey sold 13,215 shares of the company’s stock in a transaction on Tuesday, February 28th. The shares were sold at an average price of $28.62, for a total value of $378,213.30. Following the sale, the insider now directly owns 291,001 shares of the company’s stock, valued at approximately $8,328,448.62. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Anita M. Sands sold 2,000 shares of the company’s stock in a transaction on Wednesday, May 17th. The shares were sold at an average price of $30.16, for a total transaction of $60,320.00. Following the completion of the sale, the director now directly owns 45,486 shares in the company, valued at $1,371,857.76. The disclosure for this sale can be found here. Insiders have sold a total of 91,043 shares of company stock worth $2,797,550 over the last three months. Insiders own 0.76% of the company’s stock.
Symantec Company 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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