Eaton Vance Management Reduces Position in Symantec Co. (SYMC)

Eaton Vance Management lowered its holdings in shares of Symantec Co. (NASDAQ:SYMC) by 15.9% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 173,245 shares of the technology company’s stock after selling 32,661 shares during the period. Eaton Vance Management’s holdings in Symantec were worth $3,687,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of SYMC. Morgan Stanley boosted its stake in Symantec by 154.9% during the second quarter. Morgan Stanley now owns 9,064,682 shares of the technology company’s stock worth $187,185,000 after acquiring an additional 5,508,428 shares in the last quarter. SG Americas Securities LLC boosted its stake in Symantec by 2,196.5% during the second quarter. SG Americas Securities LLC now owns 2,705,441 shares of the technology company’s stock worth $55,867,000 after acquiring an additional 2,587,635 shares in the last quarter. First Trust Advisors LP boosted its stake in Symantec by 42.3% during the third quarter. First Trust Advisors LP now owns 8,701,121 shares of the technology company’s stock worth $185,160,000 after acquiring an additional 2,584,507 shares in the last quarter. Pictet Asset Management Ltd. boosted its stake in Symantec by 61.0% during the third quarter. Pictet Asset Management Ltd. now owns 5,140,105 shares of the technology company’s stock worth $109,381,000 after acquiring an additional 1,948,400 shares in the last quarter. Finally, FMR LLC boosted its stake in Symantec by 53.4% during the second quarter. FMR LLC now owns 4,536,913 shares of the technology company’s stock worth $93,688,000 after acquiring an additional 1,578,770 shares in the last quarter. 87.83% of the stock is currently owned by institutional investors and hedge funds.

Several research firms recently commented on SYMC. Deutsche Bank boosted their price objective on shares of Symantec from $18.00 to $20.00 and gave the stock a “hold” rating in a research note on Friday, August 17th. Cowen upgraded shares of Symantec from an “underperform” rating to a “market perform” rating in a research note on Tuesday, October 16th. UBS Group upgraded shares of Symantec from a “neutral” rating to a “positive” rating in a research note on Tuesday, August 21st. Robert W. Baird upped their target price on shares of Symantec from $22.00 to $23.00 and gave the stock a “neutral” rating in a research note on Friday, November 2nd. Finally, ValuEngine upgraded shares of Symantec from a “sell” rating to a “hold” rating in a research note on Tuesday, September 18th. Three analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and four have given a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $23.11.

Shares of NASDAQ SYMC opened at $21.78 on Friday. The company has a market capitalization of $14.03 billion, a PE ratio of 22.93, a PEG ratio of 2.79 and a beta of 0.96. Symantec Co. has a 52-week low of $17.49 and a 52-week high of $29.73. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.00 and a current ratio of 1.00.

Symantec (NASDAQ:SYMC) last issued its earnings results on Thursday, November 1st. The technology company reported $0.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.33 by $0.09. The firm had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $1.14 billion. Symantec had a net margin of 25.95% and a return on equity of 13.99%. The business’s revenue was down 7.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.40 earnings per share. On average, research analysts anticipate that Symantec Co. will post 1 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 12th. Investors of record on Monday, November 19th will be given a dividend of $0.075 per share. The ex-dividend date is Friday, November 16th. This represents a $0.30 dividend on an annualized basis and a yield of 1.38%. Symantec’s dividend payout ratio (DPR) is 31.58%.

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About Symantec

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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Institutional Ownership by Quarter for Symantec (NASDAQ:SYMC)

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