United Services Automobile Association grew its position in Symantec Co. (NASDAQ:SYMC) by 88.3% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 638,799 shares of the technology company’s stock after acquiring an additional 299,565 shares during the quarter. United Services Automobile Association owned approximately 0.10% of Symantec worth $13,594,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors have also recently modified their holdings of SYMC. Morgan Stanley grew its stake in Symantec by 154.9% during the 2nd quarter. Morgan Stanley now owns 9,064,682 shares of the technology company’s stock worth $187,185,000 after buying an additional 5,508,428 shares during the last quarter. SG Americas Securities LLC grew its stake in Symantec by 2,196.5% during the 2nd quarter. SG Americas Securities LLC now owns 2,705,441 shares of the technology company’s stock worth $55,867,000 after buying an additional 2,587,635 shares during the last quarter. First Trust Advisors LP grew its stake in Symantec by 42.3% during the 3rd quarter. First Trust Advisors LP now owns 8,701,121 shares of the technology company’s stock worth $185,160,000 after buying an additional 2,584,507 shares during the last quarter. Pictet Asset Management Ltd. grew its stake in Symantec by 61.0% during the 3rd quarter. Pictet Asset Management Ltd. now owns 5,140,105 shares of the technology company’s stock worth $109,381,000 after buying an additional 1,948,400 shares during the last quarter. Finally, FMR LLC grew its stake in Symantec by 53.4% during the 2nd quarter. FMR LLC now owns 4,536,913 shares of the technology company’s stock worth $93,688,000 after buying an additional 1,578,770 shares during the last quarter. Institutional investors and hedge funds own 87.83% of the company’s stock.
Shares of SYMC stock opened at $21.78 on Friday. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.75. Symantec Co. has a 1 year low of $17.49 and a 1 year high of $29.73. The firm has a market cap of $14.25 billion, a price-to-earnings ratio of 22.93, a price-to-earnings-growth ratio of 2.84 and a beta of 0.96.
Symantec (NASDAQ:SYMC) last announced its quarterly earnings results on Thursday, November 1st. The technology company reported $0.42 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.33 by $0.09. Symantec had a return on equity of 13.99% and a net margin of 25.95%. The company had revenue of $1.18 billion during the quarter, compared to analyst estimates of $1.14 billion. During the same quarter in the previous year, the firm posted $0.40 EPS. The firm’s quarterly revenue was down 7.2% on a year-over-year basis. Equities analysts expect that Symantec Co. will post 1 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 12th. Shareholders of record on Monday, November 19th will be given a dividend of $0.075 per share. The ex-dividend date of this dividend 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 presently 31.58%.
A number of research analysts recently commented on SYMC shares. ValuEngine upgraded Symantec from a “hold” rating to a “buy” rating in a research note on Friday, November 16th. BidaskClub upgraded Symantec from a “hold” rating to a “buy” rating in a research note on Saturday, November 17th. Robert W. Baird restated a “hold” rating and set a $22.00 price objective on shares of Symantec in a research note on Wednesday, October 31st. Stifel Nicolaus upped their price objective on Symantec from $20.00 to $22.00 and gave the stock a “hold” rating in a research note on Tuesday, September 25th. Finally, Evercore ISI restated a “hold” rating and set a $22.00 price objective on shares of Symantec in a research note on Monday, September 17th. Three equities research analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and four have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $23.11.
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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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