CIBC Asset Management Inc Has $2.18 Million Position in Symantec Co. (SYMC)

CIBC Asset Management Inc increased its stake in shares of Symantec Co. (NASDAQ:SYMC) by 0.7% during the first quarter, HoldingsChannel reports. The institutional investor owned 94,969 shares of the technology company’s stock after acquiring an additional 626 shares during the quarter. CIBC Asset Management Inc’s holdings in Symantec were worth $2,183,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in SYMC. CI Investments Inc. purchased a new position in Symantec during the fourth quarter worth approximately $192,976,000. Norges Bank acquired a new stake in Symantec during the fourth quarter worth $97,166,000. FMR LLC increased its stake in Symantec by 44.1% during the fourth quarter. FMR LLC now owns 8,779,685 shares of the technology company’s stock worth $165,892,000 after acquiring an additional 2,686,107 shares during the last quarter. Bank of Nova Scotia increased its stake in Symantec by 299.8% during the fourth quarter. Bank of Nova Scotia now owns 2,858,792 shares of the technology company’s stock worth $54,015,000 after acquiring an additional 2,143,686 shares during the last quarter. Finally, BlackRock Inc. increased its stake in Symantec by 3.3% during the fourth quarter. BlackRock Inc. now owns 42,309,498 shares of the technology company’s stock worth $799,438,000 after acquiring an additional 1,366,225 shares during the last quarter. Hedge funds and other institutional investors own 89.96% of the company’s stock.

In related news, Director Peter A. Feld bought 650,000 shares of the stock in a transaction that occurred on Wednesday, May 15th. The stock was purchased at an average cost of $19.51 per share, with a total value of $12,681,500.00. Following the purchase, the director now directly owns 22,117 shares of the company’s stock, valued at approximately $431,502.67. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Matthew Charles Brown sold 5,393 shares of the business’s stock in a transaction 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 transaction, the vice president now directly owns 58,514 shares of the company’s stock, valued at $1,281,456.60. The disclosure for this sale can be found here. Insiders sold 1,052,927 shares of company stock valued at $24,563,645 over the last ninety days. Insiders own 1.90% of the company’s stock.

SYMC has been the subject of several recent analyst reports. Goldman Sachs Group raised Symantec from a “neutral” rating to a “buy” rating and raised their target price for the stock from $23.00 to $28.00 in a research note on Monday, April 8th. Zacks Investment Research raised Symantec from a “hold” rating to a “buy” rating and set a $23.00 target price for the company in a research note on Wednesday, January 30th. Robert W. Baird reissued a “hold” rating on shares of Symantec in a research note on Friday, May 10th. Jefferies Financial Group cut their target price on Symantec from $22.00 to $19.00 and set a “hold” rating for the company in a research note on Friday, May 10th. Finally, Evercore ISI reissued a “hold” rating and set a $22.00 target price on shares of Symantec in a research note on Monday, February 4th. Two equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and three have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $22.13.

Shares of NASDAQ SYMC opened at $19.84 on Friday. Symantec Co. has a twelve month low of $17.42 and a twelve month high of $24.77. The company has a quick ratio of 1.02, a current ratio of 0.85 and a debt-to-equity ratio of 0.69. The firm has a market capitalization of $12.60 billion, a PE ratio of 16.96, a PEG ratio of 1.97 and a beta of 1.09.

Symantec (NASDAQ:SYMC) last issued its quarterly earnings data on Thursday, May 9th. The technology company reported $0.39 earnings per share for the quarter, meeting the Zacks’ 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 analysts’ expectations of $1.21 billion. During the same period in the previous year, the firm posted $0.46 earnings per share. The company’s revenue was down 2.2% on a year-over-year basis. As a group, research analysts anticipate that Symantec Co. will post 1.26 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 26th. Stockholders of record on Monday, June 10th will be paid a $0.075 dividend. The ex-dividend date of this dividend is Friday, June 7th. This represents a $0.30 dividend on an annualized basis and a dividend yield of 1.51%. Symantec’s payout ratio is presently 25.64%.

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Symantec Profile

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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Institutional Ownership by Quarter for Symantec (NASDAQ:SYMC)

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