BlackRock Inc. decreased its stake in shares of Symantec Corporation (NASDAQ:SYMC) by 1.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 40,184,068 shares of the technology company’s stock after selling 671,804 shares during the quarter. BlackRock Inc. owned approximately 6.47% of Symantec worth $1,127,566,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Strs Ohio lifted its holdings in Symantec by 3.5% during the 3rd 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 in the last quarter. Raymond James Financial Services Advisors Inc. lifted its holdings in Symantec by 6.7% during the 3rd 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 in the last quarter. Ledyard National Bank increased its position in Symantec by 13.6% during the 4th quarter. Ledyard National Bank now owns 15,870 shares of the technology company’s stock valued at $445,000 after purchasing an additional 1,905 shares during the period. Xact Kapitalforvaltning AB increased its position in Symantec by 2.3% during the 3rd quarter. Xact Kapitalforvaltning AB now owns 92,043 shares of the technology company’s stock valued at $3,020,000 after purchasing an additional 2,107 shares during the period. Finally, Bessemer Group Inc. increased its position in Symantec by 22.8% during the 3rd quarter. Bessemer Group Inc. now owns 11,435 shares of the technology company’s stock valued at $375,000 after purchasing an additional 2,124 shares during the period. Institutional investors own 91.54% of the company’s stock.
A number of research analysts have commented on SYMC shares. Bank of America raised their target price on shares of Symantec from $19.00 to $21.00 and gave the company an “underperform” rating in a research report on Thursday, February 1st. BidaskClub downgraded shares of Symantec from a “sell” rating to a “strong sell” rating in a research report on Saturday, January 13th. Evercore ISI reissued a “hold” rating and set a $25.00 target price on shares of Symantec in a research report on Thursday, February 1st. Stephens reissued a “hold” rating and set a $29.00 target price on shares of Symantec in a research report on Thursday, February 1st. Finally, CIBC reissued an “outperform” rating and set a $33.00 target price (down previously from $35.00) on shares of Symantec in a research report on Thursday, November 2nd. Four investment analysts have rated the stock with a sell rating, sixteen have given a hold rating and eight have given a buy rating to the company’s stock. Symantec presently has an average rating of “Hold” and a consensus price target of $30.92.
In other news, EVP Francis C. Rosch sold 57,103 shares of Symantec stock in a transaction that occurred on Wednesday, December 6th. The shares were sold at an average price of $27.42, for a total value of $1,565,764.26. Following the transaction, the executive vice president now owns 325,026 shares of the company’s stock, valued at approximately $8,912,212.92. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.30% of the stock is owned by insiders.
Symantec Corporation (NASDAQ:SYMC) opened at $27.03 on Thursday. 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 12-month low of $24.94 and a 12-month high of $34.20. The stock has a market cap of $17,123.39, a P/E ratio of 17.55, a PEG ratio of 3.15 and a beta of 0.89.
Symantec (NASDAQ:SYMC) last issued its quarterly earnings data on Wednesday, January 31st. The technology company reported $0.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $1.27 billion. During the same quarter in the previous year, the firm earned $0.32 EPS. The company’s quarterly revenue was up 13.4% compared to the same quarter last year. research analysts forecast that Symantec Corporation will post 0.99 earnings per share for the current year.
The company also recently disclosed 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. This represents a $0.30 dividend on an annualized basis and a dividend yield of 1.11%. The ex-dividend date is Friday, February 16th. Symantec’s payout ratio is currently 19.48%.
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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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