Symantec (NASDAQ:SYMC) traded up 0.2% during trading on Tuesday . The company traded as high as $21.89 and last traded at $22.00. 1,141,260 shares changed hands during mid-day trading, a decline of 85% from the average session volume of 7,680,138 shares. The stock had previously closed at $21.96.
A number of equities research analysts recently commented on the company. BidaskClub lowered Symantec from a “hold” rating to a “sell” rating in a research report on Thursday, March 22nd. Credit Suisse Group dropped their target price on Symantec from $30.00 to $26.00 and set a “neutral” rating on the stock in a research report on Friday, May 11th. Piper Jaffray lowered Symantec from an “overweight” rating to a “neutral” rating in a research report on Thursday, May 10th. Zacks Investment Research lowered Symantec from a “hold” rating to a “strong sell” rating in a research report on Saturday, January 20th. Finally, UBS lowered Symantec from an “outperform” rating to a “market perform” rating in a research report on Friday, May 11th. Five equities research analysts have rated the stock with a sell rating, nineteen have given a hold rating and three have assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $28.85.
The firm has a market cap of $13.30 billion, a PE ratio of 23.53, a P/E/G ratio of 2.01 and a beta of 0.86. The company has a debt-to-equity ratio of 0.99, a current ratio of 1.11 and a quick ratio of 1.15.
Symantec (NASDAQ:SYMC) last announced its quarterly earnings results on Thursday, May 10th. The technology company reported $0.46 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.39 by $0.07. Symantec had a return on equity of 16.24% and a net margin of 23.98%. The company had revenue of $1.23 billion during the quarter, compared to the consensus estimate of $1.19 billion. During the same period in the previous year, the company posted $0.28 earnings per share. Symantec’s revenue for the quarter was up 4.9% on a year-over-year basis. research analysts anticipate that Symantec will post 1.28 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 20th. Shareholders of record on Friday, June 8th will be issued a $0.075 dividend. This represents a $0.30 dividend on an annualized basis and a yield of 1.34%. The ex-dividend date is Thursday, June 7th. Symantec’s payout ratio is presently 31.58%.
In other news, EVP Francis C. Rosch sold 51,899 shares of the company’s stock in a transaction that occurred on Monday, March 5th. The stock was sold at an average price of $26.59, for a total transaction of $1,379,994.41. Following the completion of the transaction, the executive vice president now directly owns 213,026 shares of the company’s stock, valued at approximately $5,664,361.34. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Suzanne M. Vautrinot sold 4,000 shares of the company’s stock in a transaction that occurred on Friday, March 9th. The stock was sold at an average price of $27.72, for a total value of $110,880.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 97,183 shares of company stock valued at $2,630,726. Corporate insiders own 1.30% of the company’s stock.
Hedge funds have recently made changes to their positions in the company. Lourd Capital LLC acquired a new position in shares of Symantec during the 4th quarter worth approximately $325,000. Boston Partners raised its stake in shares of Symantec by 0.3% during the 1st quarter. Boston Partners now owns 2,060,811 shares of the technology company’s stock worth $53,272,000 after buying an additional 5,383 shares during the period. Meadow Creek Investment Management LLC raised its stake in shares of Symantec by 5.9% during the 4th quarter. Meadow Creek Investment Management LLC now owns 92,718 shares of the technology company’s stock worth $2,601,000 after buying an additional 5,134 shares during the period. Two Sigma Advisers LP raised its stake in shares of Symantec by 53.0% during the 4th quarter. Two Sigma Advisers LP now owns 278,084 shares of the technology company’s stock worth $7,803,000 after buying an additional 96,300 shares during the period. Finally, Moors & Cabot Inc. raised its stake in shares of Symantec by 67.7% during the 4th quarter. Moors & Cabot Inc. now owns 40,274 shares of the technology company’s stock worth $1,127,000 after buying an additional 16,261 shares during the period. 95.18% of the stock is owned by institutional investors and hedge funds.
Symantec Corporation, together with its subsidiaries, provides cybersecurity solutions worldwide. It operates through two segments, Consumer Digital Safety and Enterprise Security. The Consumer Digital Safety segment provides Norton-branded services that provide multi-layer security services across desktop and mobile operating systems, public Wi-Fi connections, and home networks to defend against online threats to individuals, families, and small businesses.
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