CI Investments Inc. grew its holdings in shares of Symantec Corporation (NASDAQ:SYMC) by 78.1% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,179,891 shares of the technology company’s stock after purchasing an additional 2,271,520 shares during the quarter. Symantec Corporation makes up 1.6% of CI Investments Inc.’s investment portfolio, making the stock its 16th largest holding. CI Investments Inc. owned 0.84% of Symantec Corporation worth $169,952,000 as of its most recent SEC filing.
Several other institutional investors have also made changes to their positions in SYMC. Capital Research Global Investors increased its position in shares of Symantec Corporation by 1,784.9% during the 2nd quarter. Capital Research Global Investors now owns 14,305,855 shares of the technology company’s stock valued at $404,140,000 after purchasing an additional 13,546,895 shares during the last quarter. Janus Henderson Group PLC increased its holdings in Symantec Corporation by 10,624.9% in the 2nd quarter. Janus Henderson Group PLC now owns 9,578,167 shares of the technology company’s stock worth $270,583,000 after acquiring an additional 9,488,859 shares during the last quarter. CI Global Investments Inc. purchased a new stake in Symantec Corporation in the 2nd quarter worth about $186,563,000. Renaissance Technologies LLC increased its holdings in Symantec Corporation by 405.7% in the 2nd quarter. Renaissance Technologies LLC now owns 4,857,838 shares of the technology company’s stock worth $137,234,000 after acquiring an additional 3,897,200 shares during the last quarter. Finally, Capital World Investors increased its holdings in Symantec Corporation by 3.7% in the 2nd quarter. Capital World Investors now owns 75,819,338 shares of the technology company’s stock worth $2,141,896,000 after acquiring an additional 2,695,567 shares during the last quarter. 90.39% of the stock is owned by hedge funds and other institutional investors.
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In related news, SVP Amy L. Cappellanti-Wolf sold 2,163 shares of the firm’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 transaction, the senior vice president now directly owns 115,997 shares of the company’s stock, valued at approximately $3,462,510.45. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Suzanne M. Vautrinot sold 2,500 shares of the firm’s stock in a transaction dated Monday, October 2nd. The shares were sold at an average price of $32.81, for a total value of $82,025.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 671,985 shares of company stock valued at $20,028,343. Corporate insiders own 1.30% of the company’s stock.
SYMC has been the subject of several recent research reports. Piper Jaffray Companies reissued a “buy” rating and issued a $40.00 price objective on shares of Symantec Corporation in a report on Tuesday, September 12th. Barclays PLC reissued a “buy” rating and issued a $36.00 price objective on shares of Symantec Corporation in a report on Thursday, November 2nd. Morgan Stanley lowered Symantec Corporation from an “overweight” rating to an “equal weight” rating and decreased their price objective for the stock from $37.00 to $34.00 in a report on Tuesday, October 10th. BidaskClub raised Symantec Corporation from a “sell” rating to a “hold” rating in a report on Wednesday, August 23rd. Finally, Evercore ISI set a $25.00 price objective on Symantec Corporation and gave the stock a “hold” rating in a report on Thursday, August 3rd. Two analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and ten have given a buy rating to the stock. Symantec Corporation currently has a consensus rating of “Hold” and an average target price of $32.39.
Shares of Symantec Corporation (NASDAQ:SYMC) traded down $0.23 on Monday, hitting $28.36. The stock had a trading volume of 4,592,800 shares, compared to its average volume of 6,832,668. The company has a market cap of $17,582.69, a P/E ratio of 45.02, a PEG ratio of 2.86 and a beta of 1.13. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 1.72. Symantec Corporation has a 12-month low of $23.20 and a 12-month high of $34.20.
Symantec Corporation (NASDAQ:SYMC) last issued its quarterly earnings results on Wednesday, November 1st. The technology company reported $0.40 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.26 by $0.14. The firm had revenue of $1.28 billion during the quarter, compared to the consensus estimate of $1.27 billion. Symantec Corporation had a positive return on equity of 12.33% and a negative net margin of 5.29%. The company’s revenue for the quarter was up 25.7% on a year-over-year basis. During the same quarter last year, the company posted $0.30 EPS. equities research analysts expect that Symantec Corporation will post 1.05 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 13th. Stockholders of record on Monday, November 20th will be given a dividend of $0.075 per share. The ex-dividend date is Friday, November 17th. This represents a $0.30 dividend on an annualized basis and a dividend yield of 1.06%. Symantec Corporation’s dividend payout ratio (DPR) is presently -75.00%.
About Symantec Corporation
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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