Cambiar Investors LLC increased its holdings in shares of Symantec Corporation (NASDAQ:SYMC) by 78.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,088,120 shares of the technology company’s stock after acquiring an additional 917,448 shares during the period. Symantec makes up approximately 0.9% of Cambiar Investors LLC’s portfolio, making the stock its 25th biggest holding. Cambiar Investors LLC owned 0.34% of Symantec worth $58,593,000 as of its most recent SEC filing.
A number of other hedge funds have also made changes to their positions in SYMC. Sun Life Financial INC increased its stake in Symantec by 44,100.0% in the second quarter. Sun Life Financial INC now owns 4,420 shares of the technology company’s stock valued at $125,000 after purchasing an additional 4,410 shares during the last quarter. United Bank Inc. acquired a new position in Symantec in the third quarter valued at $200,000. Lenox Wealth Advisors Inc. acquired a new position in Symantec in the fourth quarter valued at $224,000. Jaffetilchin Investment Partners LLC acquired a new position in Symantec in the third quarter valued at $225,000. Finally, Reilly Financial Advisors LLC increased its stake in Symantec by 223.5% in the fourth quarter. Reilly Financial Advisors LLC now owns 8,412 shares of the technology company’s stock valued at $236,000 after purchasing an additional 5,812 shares during the last quarter. 94.40% of the stock is currently owned by hedge funds and other institutional investors.
SYMC has been the subject of several research analyst reports. Zacks Investment Research lowered Symantec from a “hold” rating to a “strong sell” rating in a research note on Saturday, January 20th. BidaskClub lowered Symantec from a “sell” rating to a “strong sell” rating in a research note on Saturday, January 13th. Evercore ISI reiterated a “hold” rating and issued a $25.00 target price on shares of Symantec in a research note on Friday, January 26th. Credit Suisse Group lowered Symantec from an “outperform” rating to a “neutral” rating and lowered their target price for the company from $36.00 to $30.00 in a research note on Monday, January 22nd. Finally, Barclays reiterated a “buy” rating and issued a $36.00 target price on shares of Symantec in a research note on Thursday, November 2nd. Four equities research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and eight have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $30.92.
In other news, EVP Francis C. Rosch sold 57,103 shares of the firm’s stock in a transaction on Wednesday, December 6th. The stock was sold at an average price of $27.42, for a total value of $1,565,764.26. Following the completion of the sale, the executive vice president now owns 325,026 shares of the company’s stock, valued at $8,912,212.92. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 1.30% of the company’s stock.
Symantec Corporation (NASDAQ:SYMC) traded up $0.48 on Wednesday, hitting $26.58. The stock had a trading volume of 5,147,900 shares, compared to its average volume of 7,629,335. The company has a market cap of $16,480.00, a price-to-earnings ratio of 18.21, a PEG ratio of 2.99 and a beta of 0.89. The company has a current ratio of 1.15, a quick ratio of 1.15 and a debt-to-equity ratio of 1.13. Symantec Corporation has a 1-year low of $24.94 and a 1-year high of $34.20.
Symantec (NASDAQ:SYMC) last released its quarterly earnings data on Wednesday, January 31st. The technology company reported $0.49 earnings per share for the quarter, topping the consensus estimate of $0.44 by $0.05. The business had revenue of $1.23 billion during the quarter, compared to analyst estimates of $1.27 billion. Symantec had a return on equity of 14.26% and a net margin of 22.24%. The company’s revenue was up 13.4% compared to the same quarter last year. During the same period last year, the company posted $0.32 EPS. equities research analysts expect that Symantec Corporation will post 0.99 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 14th. Stockholders of record on Tuesday, February 20th will be given a $0.075 dividend. The ex-dividend date is Friday, February 16th. This represents a $0.30 annualized dividend and a dividend yield of 1.13%. Symantec’s dividend payout ratio (DPR) is presently 20.41%.
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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 and cyber security services. 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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