Zurcher Kantonalbank Zurich Cantonalbank cut its holdings in Symantec Corporation (NASDAQ:SYMC) by 1.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 187,800 shares of the technology company’s stock after selling 2,964 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Symantec were worth $5,270,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Kensico Capital Management Corp purchased a new stake in shares of Symantec in the third quarter worth $225,241,000. CI Global Investments Inc. grew its stake in Symantec by 50.6% during the third quarter. CI Global Investments Inc. now owns 9,942,972 shares of the technology company’s stock valued at $326,229,000 after acquiring an additional 3,338,984 shares in the last quarter. CI Investments Inc. grew its stake in shares of Symantec by 78.1% in the 3rd quarter. CI Investments Inc. now owns 5,179,891 shares of the technology company’s stock worth $169,952,000 after buying an additional 2,271,520 shares in the last quarter. Nomura Holdings Inc. grew its stake in shares of Symantec by 103.9% in the 2nd quarter. Nomura Holdings Inc. now owns 46,974 shares of the technology company’s stock worth $1,326,000 after buying an additional 1,259,070 shares in the last quarter. Finally, Pictet Asset Management Ltd. grew its stake in shares of Symantec by 38.9% in the 3rd quarter. Pictet Asset Management Ltd. now owns 3,744,732 shares of the technology company’s stock worth $122,865,000 after buying an additional 1,049,100 shares in the last quarter. Institutional investors and hedge funds own 94.40% of the company’s stock.
Several research firms have recently issued reports on SYMC. Morgan Stanley lowered their target price on shares of Symantec from $33.00 to $31.00 and set an “equal weight” rating for the company in a report on Thursday, February 1st. Stifel Nicolaus decreased their price objective on shares of Symantec from $27.00 to $26.00 and set a “hold” rating for the company in a report on Thursday, February 1st. Cowen reiterated a “sell” rating and set a $26.00 price objective on shares of Symantec in a report on Thursday, February 1st. Robert W. Baird restated a “hold” rating on shares of Symantec in a report on Thursday, February 1st. Finally, Zacks Investment Research upgraded shares of Symantec from a “sell” rating to a “hold” rating in a report on Tuesday, February 6th. Four investment analysts have rated the stock with a sell rating, sixteen have issued a hold rating and eight have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $30.92.
In other Symantec news, EVP Francis C. Rosch sold 57,103 shares of the stock in a transaction dated Wednesday, December 6th. The shares were sold at an average price of $27.42, for a total transaction of $1,565,764.26. Following the completion of the transaction, 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 available at this link. Company insiders own 1.30% of the company’s stock.
Symantec Corporation (NASDAQ:SYMC) traded up $0.48 during trading on Wednesday, hitting $26.58. 5,147,900 shares of the stock were exchanged, compared to its average volume of 7,716,115. The company has a debt-to-equity ratio of 1.13, a current ratio of 1.15 and a quick ratio of 1.15. Symantec Corporation has a fifty-two week low of $24.94 and a fifty-two week high of $34.20. The stock has a market capitalization of $16,480.00, a price-to-earnings ratio of 18.21, a price-to-earnings-growth ratio of 2.99 and a beta of 0.89.
Symantec (NASDAQ:SYMC) last announced its quarterly earnings data on Wednesday, January 31st. The technology company reported $0.49 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.44 by $0.05. The firm had revenue of $1.23 billion during the quarter, compared to analyst estimates of $1.27 billion. Symantec had a net margin of 22.24% and a return on equity of 14.26%. Symantec’s quarterly revenue was up 13.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.32 earnings per share. equities analysts expect that Symantec Corporation will post 0.99 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 14th. Shareholders of record on Tuesday, February 20th will be paid a dividend of $0.075 per share. This represents a $0.30 annualized dividend and a yield of 1.13%. The ex-dividend date of this dividend is Friday, February 16th. Symantec’s dividend payout ratio (DPR) is presently 20.41%.
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Symantec Company Profile
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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