AQR Capital Management LLC raised its stake in Symantec Co. (NASDAQ:SYMC) by 9.9% during the first quarter, Holdings Channel reports. The institutional investor owned 13,861,111 shares of the technology company’s stock after purchasing an additional 1,249,429 shares during the quarter. AQR Capital Management LLC’s holdings in Symantec were worth $317,281,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also modified their holdings of the company. Vanguard Group Inc lifted its position in Symantec by 1.4% in the 3rd quarter. Vanguard Group Inc now owns 65,537,473 shares of the technology company’s stock valued at $1,394,637,000 after acquiring an additional 902,112 shares in the last quarter. Dupont Capital Management Corp bought a new position in Symantec in the 4th quarter valued at about $182,000. Creative Planning lifted its position in Symantec by 6.3% in the 4th quarter. Creative Planning now owns 25,778 shares of the technology company’s stock valued at $487,000 after acquiring an additional 1,539 shares in the last quarter. M&T Bank Corp lifted its position in Symantec by 3.7% in the 4th quarter. M&T Bank Corp now owns 60,948 shares of the technology company’s stock valued at $1,152,000 after acquiring an additional 2,198 shares in the last quarter. Finally, Daiwa Securities Group Inc. lifted its position in Symantec by 5.1% in the 4th quarter. Daiwa Securities Group Inc. now owns 22,786 shares of the technology company’s stock valued at $431,000 after acquiring an additional 1,100 shares in the last quarter. 91.72% of the stock is currently owned by institutional investors and hedge funds.
Shares of SYMC stock opened at $19.36 on Friday. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.69. Symantec Co. has a 12-month low of $17.42 and a 12-month high of $24.77. The company has a market cap of $12.10 billion, a PE ratio of 16.55, a P/E/G ratio of 1.97 and a beta of 1.24.
Symantec (NASDAQ:SYMC) last issued its quarterly earnings results on Thursday, May 9th. The technology company reported $0.39 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.39. Symantec had a net margin of 0.59% and a return on equity of 13.05%. The company had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1.21 billion. During the same quarter last year, the business posted $0.46 EPS. Symantec’s quarterly revenue was down 2.2% compared to the same quarter last year. Equities analysts forecast that Symantec Co. will post 1.26 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 26th. Stockholders of record on Monday, June 10th will be paid a dividend of $0.075 per share. The ex-dividend date is Friday, June 7th. This represents a $0.30 annualized dividend and a dividend yield of 1.55%. Symantec’s payout ratio is currently 25.64%.
In other news, insider Gregory S. Clark sold 636,209 shares of the firm’s stock in a transaction that occurred on Wednesday, April 10th. The shares were sold at an average price of $23.69, for a total transaction of $15,071,791.21. Following the completion of the sale, the insider now owns 1,503,837 shares in the company, valued at approximately $35,625,898.53. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Gregory S. Clark sold 61,170 shares of the firm’s stock in a transaction that occurred on Friday, April 12th. The stock was sold at an average price of $24.00, for a total transaction of $1,468,080.00. Following the sale, the insider now owns 1,565,007 shares of the company’s stock, valued at approximately $37,560,168. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 715,379 shares of company stock valued at $16,972,051. 1.90% of the stock is currently owned by company insiders.
Several research firms have commented on SYMC. Mizuho decreased their price objective on shares of Symantec from $25.00 to $22.00 and set a “neutral” rating for the company in a research note on Friday, May 10th. Cowen began coverage on shares of Symantec in a research note on Thursday, May 23rd. They issued a “market perform” rating and a $22.00 price objective for the company. ValuEngine upgraded shares of Symantec from a “sell” rating to a “hold” rating in a research note on Wednesday, May 15th. Goldman Sachs Group upgraded shares of Symantec from a “neutral” rating to a “buy” rating and increased their price objective for the company from $23.00 to $28.00 in a research note on Monday, April 8th. Finally, Jefferies Financial Group decreased their price objective on shares of Symantec from $22.00 to $19.00 and set a “hold” rating for the company in a research note on Friday, May 10th. Three analysts have rated the stock with a sell rating, twelve have assigned a hold rating and three have issued a buy rating to the company’s stock. Symantec presently has an average rating of “Hold” and a consensus price target of $21.38.
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Symantec Company Profile
Symantec Corporation provides cybersecurity products, services, and solutions worldwide. The company operates through two segments, Enterprise Security and Consumer Digital Safety. The Enterprise Security segment provides endpoint and information protection products, including endpoint security, advanced threat protection, and information protection solutions and their related support services; and network and Web security products, such as network security, Web security, and cloud security solutions and their related support services.
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