Sumitomo Mitsui Trust Holdings Inc. trimmed its holdings in Symantec Corporation (NASDAQ:SYMC) by 14.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,891,419 shares of the technology company’s stock after selling 314,202 shares during the period. Sumitomo Mitsui Trust Holdings Inc. owned about 0.31% of Symantec worth $62,057,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors have also bought and sold shares of SYMC. Bank of Montreal Can grew its stake in Symantec by 11.2% in the second quarter. Bank of Montreal Can now owns 312,016 shares of the technology company’s stock valued at $8,813,000 after acquiring an additional 31,430 shares during the period. LS Investment Advisors LLC grew its stake in Symantec by 2.6% in the second quarter. LS Investment Advisors LLC now owns 30,912 shares of the technology company’s stock valued at $873,000 after acquiring an additional 793 shares during the period. Aperio Group LLC boosted its position in shares of Symantec by 8.1% during the second quarter. Aperio Group LLC now owns 277,495 shares of the technology company’s stock worth $7,839,000 after buying an additional 20,906 shares during the period. Highland Capital Management LLC acquired a new position in shares of Symantec during the second quarter worth about $710,000. Finally, US Bancorp DE boosted its position in shares of Symantec by 1.2% during the second quarter. US Bancorp DE now owns 76,723 shares of the technology company’s stock worth $2,168,000 after buying an additional 890 shares during the period. 95.02% of the stock is owned by hedge funds and other institutional investors.
SYMC has been the subject of several recent research reports. Zacks Investment Research cut Symantec from a “hold” rating to a “sell” rating in a research report on Tuesday, October 3rd. Moffett Nathanson initiated coverage on Symantec in a research report on Wednesday, September 6th. They set a “neutral” rating and a $33.00 price objective for the company. Credit Suisse Group initiated coverage on Symantec in a research report on Tuesday, September 5th. They set an “outperform” rating and a $36.00 price objective for the company. Barclays reaffirmed a “buy” rating and set a $36.00 price objective on shares of Symantec in a research report on Thursday, November 2nd. Finally, Morgan Stanley reduced their price objective on Symantec from $34.00 to $31.00 and set an “equal weight” rating for the company in a research report on Friday, November 3rd. Two equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and nine have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $32.39.
Symantec Corporation (SYMC) traded down $1.36 during trading hours on Monday, reaching $27.75. The company’s stock had a trading volume of 11,549,622 shares, compared to its average volume of 6,755,537. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 1.72. The company has a market capitalization of $18,047.68, a price-to-earnings ratio of 46.21, a price-to-earnings-growth ratio of 2.94 and a beta of 1.08. Symantec Corporation has a 12-month low of $23.59 and a 12-month high of $34.20.
Symantec (NASDAQ:SYMC) last released its quarterly earnings data on Wednesday, November 1st. The technology company reported $0.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.26 by $0.14. The firm had revenue of $1.28 billion for the quarter, compared to analyst estimates of $1.27 billion. Symantec had a positive return on equity of 12.33% and a negative net margin of 5.29%. The business’s revenue for the quarter was up 25.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.30 earnings per share. equities research analysts forecast that Symantec Corporation will post 1.05 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 13th. Shareholders of record on Monday, November 20th will be paid a $0.075 dividend. The ex-dividend date of this dividend is Friday, November 17th. This represents a $0.30 annualized dividend and a yield of 1.08%. Symantec’s dividend payout ratio is -75.00%.
In other news, CFO Nicholas R. Noviello sold 375,000 shares of the stock in a transaction that occurred on Monday, November 6th. The stock was sold at an average price of $29.38, for a total transaction of $11,017,500.00. Following the transaction, the chief financial officer now owns 565,319 shares in the company, valued at $16,609,072.22. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Amy L. Cappellanti-Wolf sold 2,163 shares of the stock in a transaction that occurred on Tuesday, September 5th. The stock was sold at an average price of $29.85, for a total value of $64,565.55. Following the transaction, the senior vice president now owns 115,997 shares in the company, valued at approximately $3,462,510.45. The disclosure for this sale can be found here. Insiders sold 425,256 shares of company stock worth $12,626,621 in the last 90 days. Corporate insiders own 1.30% of the company’s stock.
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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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