Retirement Systems of Alabama increased its stake in shares of Symantec Corporation (NASDAQ:SYMC) by 0.8% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 300,450 shares of the technology company’s stock after purchasing an additional 2,305 shares during the period. Retirement Systems of Alabama’s holdings in Symantec were worth $8,431,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in SYMC. Strs Ohio grew its position in Symantec by 3.5% during the third quarter. Strs Ohio now owns 47,434 shares of the technology company’s stock valued at $1,556,000 after buying an additional 1,619 shares during the period. Raymond James Financial Services Advisors Inc. grew its position in Symantec by 6.7% during the third quarter. Raymond James Financial Services Advisors Inc. now owns 27,997 shares of the technology company’s stock valued at $919,000 after buying an additional 1,762 shares during the period. Ledyard National Bank grew its position in Symantec by 13.6% during the fourth quarter. Ledyard National Bank now owns 15,870 shares of the technology company’s stock valued at $445,000 after buying an additional 1,905 shares during the period. Xact Kapitalforvaltning AB grew its position in Symantec by 2.3% during the third quarter. Xact Kapitalforvaltning AB now owns 92,043 shares of the technology company’s stock valued at $3,020,000 after buying an additional 2,107 shares during the period. Finally, Bessemer Group Inc. grew its position in Symantec by 22.8% during the third quarter. Bessemer Group Inc. now owns 11,435 shares of the technology company’s stock valued at $375,000 after buying an additional 2,124 shares during the period. 91.54% of the stock is owned by hedge funds and other institutional investors.
Symantec Corporation (NASDAQ:SYMC) opened at $27.55 on Tuesday. The firm has a market cap of $17,080.00, a P/E ratio of 105.96, a price-to-earnings-growth ratio of 3.15 and a beta of 0.89. Symantec Corporation has a 12-month low of $24.94 and a 12-month high of $34.20. 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 (NASDAQ:SYMC) last issued its earnings results on Wednesday, January 31st. The technology company reported $0.49 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.44 by $0.05. Symantec had a net margin of 22.24% and a return on equity of 14.26%. The firm had revenue of $1.23 billion during the quarter, compared to analyst estimates of $1.27 billion. During the same quarter in the prior year, the business earned $0.32 earnings per share. Symantec’s revenue for the quarter was up 13.4% on a year-over-year basis. sell-side analysts anticipate that Symantec Corporation will post 0.99 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 14th. Investors of record on Tuesday, February 20th will be given a dividend of $0.075 per share. The ex-dividend date of this dividend is Friday, February 16th. This represents a $0.30 dividend on an annualized basis and a dividend yield of 1.09%. Symantec’s dividend payout ratio is 115.38%.
In related news, EVP Francis C. Rosch sold 57,103 shares of the company’s stock in a transaction on 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 in the company, valued at $8,912,212.92. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.30% of the stock is currently owned by corporate insiders.
SYMC has been the subject of several recent research reports. BidaskClub lowered shares of Symantec from a “sell” rating to a “strong sell” rating in a research report on Saturday, January 13th. 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 report on Friday, November 3rd. Credit Suisse Group lowered shares of Symantec from an “outperform” rating to a “neutral” rating and cut their target price for the company from $36.00 to $30.00 in a research report on Monday, January 22nd. CIBC restated an “outperform” rating and set a $33.00 target price (down from $35.00) on shares of Symantec in a research report on Thursday, November 2nd. Finally, Zacks Investment Research upgraded shares of Symantec from a “sell” rating to a “hold” rating in a research report on Tuesday, January 2nd. Four research 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’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $30.92.
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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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