Comerica Bank Has $4.16 Million Holdings in Symantec (SYMC)

Comerica Bank lessened its holdings in shares of Symantec (NASDAQ:SYMC) by 2.8% in the first quarter, HoldingsChannel.com reports. The fund owned 149,232 shares of the technology company’s stock after selling 4,362 shares during the quarter. Comerica Bank’s holdings in Symantec were worth $4,156,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in SYMC. Lourd Capital LLC acquired a new position in shares of Symantec in the 4th quarter valued at $325,000. Meadow Creek Investment Management LLC grew its holdings in shares of Symantec by 5.9% in the 4th quarter. Meadow Creek Investment Management LLC now owns 92,718 shares of the technology company’s stock valued at $2,601,000 after buying an additional 5,134 shares during the period. Two Sigma Advisers LP grew its holdings in shares of Symantec by 53.0% in the 4th quarter. Two Sigma Advisers LP now owns 278,084 shares of the technology company’s stock valued at $7,803,000 after buying an additional 96,300 shares during the period. Moors & Cabot Inc. grew its holdings in shares of Symantec by 67.7% in the 4th quarter. Moors & Cabot Inc. now owns 40,274 shares of the technology company’s stock valued at $1,127,000 after buying an additional 16,261 shares during the period. Finally, Cornerstone Capital Management Holdings LLC. grew its holdings in shares of Symantec by 11.6% in the 4th quarter. Cornerstone Capital Management Holdings LLC. now owns 116,564 shares of the technology company’s stock valued at $3,270,000 after buying an additional 12,070 shares during the period. 95.18% of the stock is owned by hedge funds and other institutional investors.

SYMC opened at $22.32 on Friday. The firm has a market capitalization of $13.88 billion, a P/E ratio of 23.49, a P/E/G ratio of 3.13 and a beta of 0.86. Symantec has a 12 month low of $21.89 and a 12 month high of $22.52. The company has a current ratio of 1.11, a quick ratio of 1.15 and a debt-to-equity ratio of 0.99.

Symantec (NASDAQ:SYMC) last posted its quarterly earnings data on Thursday, May 10th. The technology company reported $0.46 EPS for the quarter, beating the consensus estimate of $0.39 by $0.07. The business had revenue of $1.23 billion for the quarter, compared to analysts’ expectations of $1.19 billion. Symantec had a net margin of 23.98% and a return on equity of 16.24%. The firm’s revenue was up 4.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.28 EPS. equities analysts forecast that Symantec will post 0.86 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 20th. Shareholders of record on Friday, June 8th will be given a dividend of $0.075 per share. The ex-dividend date of this dividend is Thursday, June 7th. This represents a $0.30 annualized dividend and a yield of 1.34%. Symantec’s dividend payout ratio (DPR) is presently 31.58%.

In other Symantec news, EVP Scott C. Taylor sold 41,284 shares of the business’s stock in a transaction dated Monday, April 16th. The shares were sold at an average price of $27.61, for a total transaction of $1,139,851.24. Following the sale, the executive vice president now directly owns 188,426 shares of the company’s stock, valued at approximately $5,202,441.86. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Francis C. Rosch sold 51,899 shares of the business’s stock in a transaction dated Monday, March 5th. The stock was sold at an average price of $26.59, for a total transaction of $1,379,994.41. Following the sale, the executive vice president now directly owns 213,026 shares in the company, valued at $5,664,361.34. The disclosure for this sale can be found here. Insiders have sold a total of 97,183 shares of company stock worth $2,630,726 over the last three months. Insiders own 1.30% of the company’s stock.

Several equities analysts have recently issued reports on the stock. Piper Jaffray lowered shares of Symantec from an “overweight” rating to a “neutral” rating in a report on Thursday, May 10th. First Analysis lowered shares of Symantec from an “overweight” rating to an “equal weight” rating and decreased their price target for the company from $35.00 to $23.00 in a report on Friday, May 11th. Barclays lowered shares of Symantec from an “overweight” rating to an “equal weight” rating in a report on Friday, May 11th. Robert W. Baird reissued a “hold” rating and issued a $25.00 price target on shares of Symantec in a report on Friday, May 11th. Finally, UBS lowered shares of Symantec from an “outperform” rating to a “market perform” rating in a report on Friday, May 11th. Five equities research analysts have rated the stock with a sell rating, nineteen have given a hold rating and three have issued a buy rating to the company’s stock. Symantec has a consensus rating of “Hold” and a consensus price target of $28.85.

Symantec Profile

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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Institutional Ownership by Quarter for Symantec (NASDAQ:SYMC)

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