Symantec Co. (SYMC) Position Reduced by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. decreased its position in shares of Symantec Co. (NASDAQ:SYMC) by 60.7% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,388 shares of the technology company’s stock after selling 17,624 shares during the period. Envestnet Asset Management Inc.’s holdings in Symantec were worth $235,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the stock. US Bancorp DE grew its position in Symantec by 31.2% in the 1st quarter. US Bancorp DE now owns 91,702 shares of the technology company’s stock valued at $2,371,000 after acquiring an additional 21,819 shares during the last quarter. Korea Investment CORP grew its position in Symantec by 1,702.3% in the 1st quarter. Korea Investment CORP now owns 104,157 shares of the technology company’s stock valued at $2,692,000 after acquiring an additional 98,378 shares during the last quarter. BlackRock Inc. grew its position in Symantec by 0.7% in the 1st quarter. BlackRock Inc. now owns 40,482,782 shares of the technology company’s stock valued at $1,046,480,000 after acquiring an additional 298,714 shares during the last quarter. Oppenheimer Asset Management Inc. grew its position in Symantec by 76.9% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 73,048 shares of the technology company’s stock valued at $1,888,000 after acquiring an additional 31,743 shares during the last quarter. Finally, Great West Life Assurance Co. Can grew its position in Symantec by 1.7% in the 1st quarter. Great West Life Assurance Co. Can now owns 2,081,960 shares of the technology company’s stock valued at $53,888,000 after acquiring an additional 35,512 shares during the last quarter. 92.08% of the stock is currently owned by hedge funds and other institutional investors.

SYMC opened at $21.69 on Tuesday. Symantec Co. has a 12-month low of $17.81 and a 12-month high of $33.92. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.15 and a current ratio of 1.16. The firm has a market cap of $12.99 billion, a PE ratio of 22.00, a PEG ratio of 2.94 and a beta of 0.65.

Symantec (NASDAQ:SYMC) last posted its quarterly earnings results on Thursday, August 2nd. The technology company reported $0.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.33 by $0.01. Symantec had a return on equity of 14.54% and a net margin of 25.52%. The business had revenue of $1.17 billion for the quarter, compared to the consensus estimate of $1.15 billion. During the same quarter in the prior year, the company earned $0.33 EPS. The business’s revenue was up 3.3% compared to the same quarter last year. equities analysts expect that Symantec Co. will post 0.9 EPS for the current year.

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 12th. Stockholders of record on Monday, August 20th were given a dividend of $0.075 per share. This represents a $0.30 dividend on an annualized basis and a dividend yield of 1.38%. The ex-dividend date of this dividend was Friday, August 17th. Symantec’s payout ratio is 31.58%.

Several brokerages have commented on SYMC. Barclays cut their price objective on Symantec from $23.00 to $21.00 and set an “equal weight” rating on the stock in a research report on Monday, August 6th. Stifel Nicolaus cut their price objective on Symantec from $21.00 to $19.00 and set a “hold” rating on the stock in a research report on Friday, August 3rd. BidaskClub raised Symantec from a “hold” rating to a “buy” rating in a research report on Friday, July 6th. UBS Group raised Symantec from a “neutral” rating to a “positive” rating in a research report on Tuesday, August 21st. Finally, Zacks Investment Research raised Symantec from a “strong sell” rating to a “hold” rating in a research report on Tuesday, July 10th. Three equities research analysts have rated the stock with a sell rating, nineteen have given a hold rating and four have given a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $24.55.

About Symantec

Symantec Corporation, together with its subsidiaries, provides cybersecurity solutions worldwide. It operates through two segments, Consumer Digital Safety and Enterprise Security. The Consumer Digital Safety segment provides Norton-branded services that provide multi-layer security services across desktop and mobile operating systems, public Wi-Fi connections, and home networks to defend against online threats to individuals, families, and small businesses.

Further Reading: Fundamental Analysis

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Institutional Ownership by Quarter for Symantec (NASDAQ:SYMC)

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