Alambic Investment Management L.P. lowered its position in Symantec Corporation (NASDAQ:SYMC) by 94.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,000 shares of the technology company’s stock after selling 204,600 shares during the quarter. Alambic Investment Management L.P.’s holdings in Symantec were worth $365,000 at the end of the most recent quarter.
A number of other hedge funds have also recently modified their holdings of the business. United Bank Inc. bought a new stake in shares of Symantec during the 3rd quarter valued at about $200,000. Lenox Wealth Advisors Inc. bought a new position in Symantec in the 4th quarter worth about $224,000. Jaffetilchin Investment Partners LLC bought a new position in Symantec in the 3rd quarter worth about $225,000. Reilly Financial Advisors LLC grew its position in Symantec by 223.5% in the 4th quarter. Reilly Financial Advisors LLC now owns 8,412 shares of the technology company’s stock worth $236,000 after purchasing an additional 5,812 shares during the last quarter. Finally, Whittier Trust Co. grew its position in Symantec by 192.1% in the 3rd quarter. Whittier Trust Co. now owns 7,460 shares of the technology company’s stock worth $245,000 after purchasing an additional 4,906 shares during the last quarter. Hedge funds and other institutional investors own 94.40% of the company’s stock.
SYMC has been the subject of a number of research analyst reports. Barclays reaffirmed a “buy” rating and issued a $36.00 price target on shares of Symantec in a research note on Thursday, November 2nd. Oppenheimer reaffirmed a “buy” rating and issued a $31.00 price target on shares of Symantec in a research note on Thursday, February 1st. Morgan Stanley cut their target price on shares of Symantec from $34.00 to $31.00 and set an “equal weight” rating for the company in a research note on Friday, November 3rd. Deutsche Bank assumed coverage on shares of Symantec in a research note on Tuesday, December 19th. They set a “hold” rating and a $30.00 target price for the company. Finally, BidaskClub raised shares of Symantec from a “sell” rating to a “hold” rating in a research note on Tuesday, December 12th. Four analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and eight have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $30.92.
Shares of Symantec Corporation (SYMC) traded down $0.15 during trading on Friday, reaching $27.55. 7,370,000 shares of the company’s stock were exchanged, compared to its average volume of 7,930,000. 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 12-month low of $24.94 and a 12-month high of $34.20. The company has a market cap of $16,990.00, a P/E ratio of 105.96, a PEG ratio of 3.17 and a beta of 0.89.
Symantec (NASDAQ:SYMC) last issued its quarterly earnings results on Wednesday, January 31st. The technology company reported $0.49 earnings per share for the quarter, beating analysts’ consensus estimates of $0.44 by $0.05. The firm had revenue of $1.23 billion during the quarter, compared to the consensus estimate of $1.27 billion. Symantec had a net margin of 22.24% and a return on equity of 14.26%. The business’s revenue was up 13.4% on a year-over-year basis. During the same period in the prior year, the firm earned $0.32 EPS. analysts forecast that Symantec Corporation will post 0.99 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 14th. Stockholders of record on Tuesday, February 20th will be issued a dividend of $0.075 per share. This represents a $0.30 dividend on an annualized basis and a dividend yield of 1.09%. The ex-dividend date of this dividend is Friday, February 16th. Symantec’s payout ratio is 115.38%.
In other news, EVP Francis C. Rosch sold 57,103 shares of the firm’s 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 directly owns 325,026 shares of the company’s stock, valued at approximately $8,912,212.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.30% of the stock is currently owned by company insiders.
TRADEMARK VIOLATION NOTICE: This news story was first posted by Dispatch Tribunal and is owned by of Dispatch Tribunal. If you are accessing this news story on another website, it was stolen and reposted in violation of U.S. & international trademark and copyright legislation. The correct version of this news story can be read at https://www.dispatchtribunal.com/2018/02/17/alambic-investment-management-l-p-lowers-position-in-symantec-corporation-symc.html.
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.
Receive News & Ratings for Symantec Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Symantec and related companies with MarketBeat.com's FREE daily email newsletter.