BNP Paribas Arbitrage SA increased its stake in Symantec Corporation (NASDAQ:SYMC) by 47.2% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 423,593 shares of the technology company’s stock after purchasing an additional 135,857 shares during the quarter. BNP Paribas Arbitrage SA owned 0.07% of Symantec Corporation worth $13,898,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently made changes to their positions in the company. Candriam Luxembourg S.C.A. increased its holdings in shares of Symantec Corporation by 171.3% in the 3rd quarter. Candriam Luxembourg S.C.A. now owns 979,192 shares of the technology company’s stock valued at $32,127,000 after purchasing an additional 618,332 shares in the last quarter. Bessemer Group Inc. increased its holdings in shares of Symantec Corporation by 22.8% in the 3rd quarter. Bessemer Group Inc. now owns 11,435 shares of the technology company’s stock valued at $375,000 after purchasing an additional 2,124 shares in the last quarter. Sandy Spring Bank increased its holdings in shares of Symantec Corporation by 2.3% in the 3rd quarter. Sandy Spring Bank now owns 124,205 shares of the technology company’s stock valued at $4,075,000 after purchasing an additional 2,823 shares in the last quarter. Jaffetilchin Investment Partners LLC purchased a new position in shares of Symantec Corporation in the 3rd quarter valued at about $225,000. Finally, Boston Partners increased its holdings in shares of Symantec Corporation by 1.9% in the 3rd quarter. Boston Partners now owns 2,071,153 shares of the technology company’s stock valued at $67,955,000 after purchasing an additional 38,339 shares in the last quarter. Institutional investors and hedge funds own 90.39% of the company’s stock.
In other Symantec Corporation news, SVP Amy L. Cappellanti-Wolf sold 2,163 shares of Symantec Corporation stock in a transaction that occurred on Tuesday, September 5th. The shares were sold at an average price of $29.85, for a total transaction of $64,565.55. Following the transaction, the senior vice president now directly owns 115,997 shares of the company’s stock, valued at $3,462,510.45. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CFO Nicholas R. Noviello sold 375,000 shares of Symantec Corporation stock in a transaction that occurred on Monday, November 6th. The shares were sold at an average price of $29.38, for a total transaction of $11,017,500.00. Following the transaction, the chief financial officer now directly owns 565,319 shares in the company, valued at $16,609,072.22. The disclosure for this sale can be found here. Insiders sold 671,985 shares of company stock worth $20,028,343 over the last three months. Corporate insiders own 1.30% of the company’s stock.
SYMC has been the subject of a number of research analyst reports. Zacks Investment Research downgraded shares of Symantec Corporation from a “hold” rating to a “sell” rating in a report on Tuesday, October 3rd. Moffett Nathanson initiated coverage on shares of Symantec Corporation in a report on Wednesday, September 6th. They issued a “neutral” rating and a $33.00 price target for the company. Credit Suisse Group initiated coverage on shares of Symantec Corporation in a report on Tuesday, September 5th. They issued an “outperform” rating and a $36.00 price target for the company. Barclays PLC reiterated a “buy” rating and issued a $36.00 price target on shares of Symantec Corporation in a report on Thursday, November 2nd. Finally, Morgan Stanley cut their price target on shares of Symantec Corporation from $34.00 to $31.00 and set an “equal weight” rating for the company in a report on Friday, November 3rd. Two equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and ten have issued a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $32.39.
Shares of Symantec Corporation (NASDAQ:SYMC) opened at $27.97 on Tuesday. The company has a debt-to-equity ratio of 1.72, a current ratio of 1.12 and a quick ratio of 1.12. Symantec Corporation has a 12-month low of $23.20 and a 12-month high of $34.20. The stock has a market cap of $17,582.69, a P/E ratio of 45.02, a P/E/G ratio of 2.86 and a beta of 1.13.
Symantec Corporation (NASDAQ:SYMC) last released its earnings results on Wednesday, November 1st. The technology company reported $0.40 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.26 by $0.14. Symantec Corporation had a negative net margin of 5.29% and a positive return on equity of 12.33%. The business had revenue of $1.28 billion for the quarter, compared to analysts’ expectations of $1.27 billion. During the same period last year, the company earned $0.30 earnings per share. The company’s quarterly revenue was up 25.7% on a year-over-year basis. analysts anticipate that Symantec Corporation will post 1.05 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 13th. Investors of record on Monday, November 20th will be given a $0.075 dividend. The ex-dividend date is Friday, November 17th. This represents a $0.30 annualized dividend and a dividend yield of 1.07%. Symantec Corporation’s dividend payout ratio is presently -75.00%.
Symantec Corporation Company Profile
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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