Deutsche Bank AG cut its stake in shares of Symantec Co. (NASDAQ:SYMC) by 67.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,623,497 shares of the technology company’s stock after selling 3,308,162 shares during the quarter. Deutsche Bank AG owned 0.26% of Symantec worth $45,552,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Raymond James Financial Services Advisors Inc. boosted its stake in shares of 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 worth $919,000 after acquiring an additional 1,762 shares in the last quarter. Ledyard National Bank boosted its stake in shares of Symantec by 13.6% during the 4th quarter. Ledyard National Bank now owns 15,870 shares of the technology company’s stock worth $445,000 after acquiring an additional 1,905 shares in the last quarter. Bessemer Group Inc. boosted its stake in shares of Symantec by 22.8% during the 3rd quarter. Bessemer Group Inc. now owns 11,435 shares of the technology company’s stock worth $375,000 after acquiring an additional 2,124 shares in the last quarter. Advisor Partners LLC lifted its holdings in shares of Symantec by 19.3% in the fourth quarter. Advisor Partners LLC now owns 13,419 shares of the technology company’s stock valued at $368,000 after purchasing an additional 2,173 shares in the last quarter. Finally, Retirement Systems of Alabama lifted its holdings in shares of Symantec by 0.8% in the fourth quarter. Retirement Systems of Alabama now owns 300,450 shares of the technology company’s stock valued at $8,431,000 after purchasing an additional 2,305 shares in the last quarter. 95.39% of the stock is owned by institutional investors and hedge funds.
A number of analysts have recently issued reports on SYMC shares. BidaskClub lowered Symantec from a “sell” rating to a “strong sell” rating in a report on Saturday, January 13th. Credit Suisse Group lowered Symantec from an “outperform” rating to a “neutral” rating and reduced their target price for the company from $36.00 to $30.00 in a report on Monday, January 22nd. Deutsche Bank started coverage on Symantec in a report on Tuesday, December 19th. They issued a “hold” rating and a $30.00 target price for the company. Zacks Investment Research upgraded Symantec from a “sell” rating to a “hold” rating in a report on Tuesday, January 2nd. Finally, Barclays reduced their target price on Symantec from $36.00 to $34.00 and set an “overweight” rating for the company in a report on Thursday, February 1st. Five analysts have rated the stock with a sell rating, fourteen have given a hold rating and eight have given a buy rating to the stock. Symantec currently has a consensus rating of “Hold” and a consensus target price of $30.87.
In other Symantec news, EVP Francis C. Rosch sold 51,899 shares of the stock in a transaction on Monday, March 5th. The shares were sold at an average price of $26.59, for a total transaction of $1,379,994.41. Following the transaction, the executive vice president now directly owns 213,026 shares of the company’s stock, valued at $5,664,361.34. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Suzanne M. Vautrinot sold 4,000 shares of the stock in a transaction on Friday, March 9th. The stock was sold at an average price of $27.72, for a total transaction of $110,880.00. The disclosure for this sale can be found here. Corporate insiders own 1.30% of the company’s stock.
Shares of NASDAQ:SYMC traded down $0.15 during midday trading on Friday, hitting $26.00. 5,530,305 shares of the stock were exchanged, compared to its average volume of 5,187,743. 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 Co. has a 52-week low of $24.93 and a 52-week high of $34.20. The firm has a market cap of $16,253.24, a price-to-earnings ratio of 39.39, a P/E/G ratio of 2.15 and a beta of 0.87.
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, topping the Thomson Reuters’ 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%. Symantec’s quarterly revenue was up 13.4% compared to the same quarter last year. During the same period last year, the company earned $0.32 earnings per share. sell-side analysts forecast that Symantec Co. will post 0.99 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 14th. Shareholders of record on Tuesday, February 20th were given a dividend of $0.075 per share. This represents a $0.30 annualized dividend and a yield of 1.15%. The ex-dividend date was Friday, February 16th. Symantec’s payout ratio is 45.45%.
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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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