Pacer Advisors Inc. reduced its stake in shares of Symantec Co. (NASDAQ:SYMC) by 9.8% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 206,251 shares of the technology company’s stock after selling 22,356 shares during the period. Pacer Advisors Inc.’s holdings in Symantec were worth $4,874,000 at the end of the most recent reporting period.
Several other hedge funds also recently bought and sold shares of SYMC. FinTrust Capital Advisors LLC lifted its holdings in Symantec by 995.1% in the 2nd quarter. FinTrust Capital Advisors LLC now owns 1,347 shares of the technology company’s stock worth $29,000 after purchasing an additional 1,224 shares in the last quarter. Arcadia Investment Management Corp MI purchased a new position in Symantec in the 2nd quarter worth approximately $39,000. CSat Investment Advisory L.P. lifted its holdings in Symantec by 126.3% in the 2nd quarter. CSat Investment Advisory L.P. now owns 2,123 shares of the technology company’s stock worth $46,000 after purchasing an additional 1,185 shares in the last quarter. Cullen Frost Bankers Inc. purchased a new position in Symantec in the 2nd quarter worth approximately $57,000. Finally, Rehmann Capital Advisory Group lifted its holdings in Symantec by 98.9% in the 2nd quarter. Rehmann Capital Advisory Group now owns 2,960 shares of the technology company’s stock worth $64,000 after purchasing an additional 1,472 shares in the last quarter. 90.63% of the stock is currently owned by hedge funds and other institutional investors.
NASDAQ SYMC opened at $23.56 on Friday. The company has a market cap of $14.54 billion, a P/E ratio of 20.14, a P/E/G ratio of 3.28 and a beta of 1.29. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.71 and a current ratio of 0.71. The business’s 50 day moving average price is $23.68 and its 200-day moving average price is $22.50. Symantec Co. has a fifty-two week low of $17.42 and a fifty-two week high of $26.07.
Symantec (NASDAQ:SYMC) last issued its earnings results on Thursday, August 8th. The technology company reported $0.43 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.32 by $0.11. Symantec had a return on equity of 14.94% and a net margin of 2.43%. The business had revenue of $1.25 billion during the quarter, compared to analysts’ expectations of $1.19 billion. During the same period in the prior year, the business earned $0.34 EPS. The business’s revenue for the quarter was up 7.9% compared to the same quarter last year. As a group, equities analysts predict that Symantec Co. will post 1.33 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Wednesday, September 18th. Shareholders of record on Monday, August 26th were issued a $0.075 dividend. This represents a $0.30 annualized dividend and a dividend yield of 1.27%. The ex-dividend date of this dividend was Friday, August 23rd. Symantec’s dividend payout ratio is 25.64%.
SYMC has been the topic of a number of research analyst reports. Monness Crespi & Hardt initiated coverage on Symantec in a report on Wednesday, July 10th. They issued a “neutral” rating on the stock. ValuEngine downgraded Symantec from a “hold” rating to a “sell” rating in a research note on Wednesday, October 2nd. Morgan Stanley raised Symantec from an “underweight” rating to an “equal weight” rating and set a $27.00 price objective on the stock in a research note on Friday, August 9th. William Blair reaffirmed a “market perform” rating on shares of Symantec in a research note on Friday, August 9th. Finally, BidaskClub raised Symantec from a “sell” rating to a “hold” rating in a research note on Thursday. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and two have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $22.82.
In related news, EVP Samir Kapuria sold 9,674 shares of the company’s stock in a transaction on Thursday, October 10th. The stock was sold at an average price of $23.47, for a total transaction of $227,048.78. Following the completion of the sale, the executive vice president now directly owns 387,166 shares in the company, valued at approximately $9,086,786.02. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Peter A. Feld acquired 1,325,814 shares of the firm’s stock in a transaction that occurred on Wednesday, August 14th. The shares were bought at an average price of $22.95 per share, with a total value of $30,427,431.30. Following the completion of the purchase, the director now directly owns 24,685 shares in the company, valued at $566,520.75. The disclosure for this purchase can be found here. 1.90% of the stock is currently owned by corporate insiders.
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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