Cambridge Investment Research Advisors Inc. boosted its position in shares of Symantec Corporation (NASDAQ:SYMC) by 19.5% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 16,800 shares of the technology company’s stock after buying an additional 2,737 shares during the period. Cambridge Investment Research Advisors Inc.’s holdings in Symantec Corporation were worth $475,000 at the end of the most recent quarter.
Other institutional investors have also recently made changes to their positions in the company. Westpac Banking Corp grew its stake in Symantec Corporation by 69.2% during the first quarter. Westpac Banking Corp now owns 60,637 shares of the technology company’s stock worth $1,115,000 after buying an additional 24,805 shares in the last quarter. Kwmg LLC grew its stake in Symantec Corporation by 61.0% during the first quarter. Kwmg LLC now owns 56,378 shares of the technology company’s stock worth $1,730,000 after buying an additional 21,367 shares in the last quarter. Spirit of America Management Corp NY grew its stake in Symantec Corporation by 9.9% during the second quarter. Spirit of America Management Corp NY now owns 26,200 shares of the technology company’s stock worth $740,000 after buying an additional 2,350 shares in the last quarter. Municipal Employees Retirement System of Michigan grew its stake in Symantec Corporation by 1.5% during the first quarter. Municipal Employees Retirement System of Michigan now owns 20,120 shares of the technology company’s stock worth $617,000 after buying an additional 290 shares in the last quarter. Finally, Affinity Investment Advisors LLC acquired a new stake in Symantec Corporation during the second quarter worth about $6,839,000. Hedge funds and other institutional investors own 91.72% of the company’s stock.
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A number of equities research analysts have issued reports on the stock. Piper Jaffray Companies reiterated a “buy” rating and set a $40.00 price objective on shares of Symantec Corporation in a research note on Tuesday. Zacks Investment Research downgraded shares of Symantec Corporation from a “hold” rating to a “strong sell” rating in a research note on Tuesday, May 16th. Royal Bank Of Canada reiterated a “hold” rating and set a $32.00 price objective on shares of Symantec Corporation in a research note on Monday, July 31st. Robert W. Baird reiterated a “hold” rating on shares of Symantec Corporation in a research note on Thursday, August 3rd. Finally, Evercore ISI set a $25.00 price objective on shares of Symantec Corporation and gave the stock a “hold” rating in a research note on Thursday, August 3rd. One analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and fourteen have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $31.48.
In other news, Director Suzanne M. Vautrinot sold 2,500 shares of the stock in a transaction that occurred on Monday, July 3rd. The stock was sold at an average price of $28.45, for a total transaction of $71,125.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Anita M. Sands sold 2,000 shares of the stock in a transaction that occurred on Wednesday, July 12th. The shares were sold at an average price of $30.00, for a total value of $60,000.00. Following the sale, the director now directly owns 43,386 shares of the company’s stock, valued at approximately $1,301,580. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,657,621 shares of company stock valued at $48,174,811. 1.30% of the stock is owned by insiders.
Shares of Symantec Corporation (SYMC) opened at 33.73 on Wednesday. Symantec Corporation has a 52-week low of $22.76 and a 52-week high of $33.87. The firm’s market capitalization is $20.67 billion. The company’s 50-day moving average is $29.74 and its 200 day moving average is $30.01.
Symantec Corporation (NASDAQ:SYMC) last issued its earnings results on Wednesday, August 2nd. The technology company reported $0.15 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.12 by $0.03. The business had revenue of $1.23 billion during the quarter, compared to analyst estimates of $1.20 billion. Symantec Corporation had a positive return on equity of 10.73% and a negative net margin of 8.68%. Symantec Corporation’s revenue for the quarter was up 38.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.29 earnings per share. Analysts expect that Symantec Corporation will post $1.81 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 13th. Shareholders of record on Monday, August 21st will be paid a $0.075 dividend. This represents a $0.30 annualized dividend and a yield of 0.89%. The ex-dividend date of this dividend is Thursday, August 17th. Symantec Corporation’s dividend payout ratio is currently -49.18%.
About Symantec Corporation
Symantec Corporation is a United States-based cyber security company. The Company offers products under categories, such as threat protection, information protection, cyber security services and Website security. Under threat protection, it offers Advanced Threat Protection, Endpoint Protection, Endpoint Protection Cloud, IT Management Suite, Email Security.Cloud, Data Center Security and Cloud Workload Protection products.
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