SG Americas Securities LLC cut its position in Symantec Co. (NASDAQ:SYMC) by 63.8% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 199,818 shares of the technology company’s stock after selling 352,919 shares during the period. SG Americas Securities LLC’s holdings in Symantec were worth $4,348,000 as of its most recent filing with the Securities and Exchange Commission.
Several other large investors have also recently made changes to their positions in SYMC. Dimensional Fund Advisors LP raised its holdings in shares of Symantec by 3.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,607,248 shares of the technology company’s stock worth $30,367,000 after purchasing an additional 53,755 shares during the last quarter. American Century Companies Inc. raised its holdings in shares of Symantec by 4.4% during the fourth quarter. American Century Companies Inc. now owns 10,927 shares of the technology company’s stock worth $206,000 after purchasing an additional 460 shares during the last quarter. State of Alaska Department of Revenue raised its holdings in shares of Symantec by 2.8% during the first quarter. State of Alaska Department of Revenue now owns 102,412 shares of the technology company’s stock worth $2,354,000 after purchasing an additional 2,772 shares during the last quarter. DNB Asset Management AS increased its holdings in Symantec by 62.8% in the first quarter. DNB Asset Management AS now owns 131,448 shares of the technology company’s stock valued at $3,022,000 after buying an additional 50,715 shares in the last quarter. Finally, Retirement Systems of Alabama increased its holdings in Symantec by 3.8% in the first quarter. Retirement Systems of Alabama now owns 297,649 shares of the technology company’s stock valued at $6,843,000 after buying an additional 11,018 shares in the last quarter. 92.80% of the stock is currently owned by institutional investors.
A number of research analysts have weighed in on the stock. Jefferies Financial Group cut their price objective on shares of Symantec from $22.00 to $19.00 and set a “hold” rating for the company in a report on Friday, May 10th. Robert W. Baird reaffirmed a “hold” rating and issued a $22.00 price objective on shares of Symantec in a report on Tuesday, May 28th. Morgan Stanley raised shares of Symantec from an “underweight” rating to an “equal weight” rating in a report on Friday. Evercore ISI set a $22.00 price objective on shares of Symantec and gave the company a “hold” rating in a report on Friday. Finally, Wedbush set a $19.00 price objective on shares of Symantec and gave the company a “hold” rating in a report on Monday, July 15th. Two investment analysts have rated the stock with a sell rating, fourteen have given a hold rating and four have issued a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $21.64.
In other Symantec news, Director Peter A. Feld purchased 650,000 shares of the stock in a transaction that occurred on Wednesday, May 15th. The shares were purchased at an average cost of $19.51 per share, for a total transaction of $12,681,500.00. Following the completion of the transaction, the director now owns 22,117 shares of the company’s stock, valued at approximately $431,502.67. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.90% of the company’s stock.
Shares of SYMC stock traded up $0.44 on Tuesday, reaching $22.11. 637,107 shares of the company were exchanged, compared to its average volume of 10,030,546. The company has a market cap of $14.20 billion, a P/E ratio of 18.80, a price-to-earnings-growth ratio of 2.31 and a beta of 1.33. The firm has a 50-day moving average of $22.81. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.85 and a current ratio of 0.85. Symantec Co. has a 1 year low of $17.42 and a 1 year high of $26.07.
Symantec (NASDAQ:SYMC) last released its earnings results on Thursday, August 8th. The technology company reported $0.43 EPS for the quarter, topping analysts’ consensus estimates of $0.32 by $0.11. The business had revenue of $1.25 billion during the quarter, compared to analysts’ expectations of $1.19 billion. Symantec had a net margin of 2.43% and a return on equity of 14.55%. The company’s quarterly revenue was up 7.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.34 earnings per share. Analysts anticipate that Symantec Co. will post 1.26 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 18th. Investors of record on Monday, August 26th will be given a dividend of $0.075 per share. The ex-dividend date is Friday, August 23rd. This represents a $0.30 dividend on an annualized basis and a yield of 1.36%. Symantec’s payout ratio is presently 25.64%.
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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