Insider Selling: Symantec Corporation (SYMC) SVP Sells 927 Shares of Stock

Symantec Corporation (NASDAQ:SYMC) SVP Amy L. Cappellanti-Wolf sold 927 shares of Symantec Corporation stock in a transaction on Thursday, September 7th. The shares were sold at an average price of $30.00, for a total value of $27,810.00. Following the completion of the sale, the senior vice president now directly owns 112,907 shares of the company’s stock, valued at $3,387,210. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Shares of Symantec Corporation (NASDAQ:SYMC) traded down 0.06% during midday trading on Friday, hitting $33.02. The company had a trading volume of 4,274,372 shares. Symantec Corporation has a 12-month low of $22.76 and a 12-month high of $34.17. The company’s market capitalization is $20.23 billion. The company’s 50-day moving average price is $30.14 and its 200 day moving average price is $30.21.

Symantec Corporation (NASDAQ:SYMC) last posted its earnings results on Wednesday, August 2nd. The technology company reported $0.15 EPS for the quarter, beating analysts’ consensus estimates of $0.12 by $0.03. The business had revenue of $1.23 billion for the quarter, compared to the consensus estimate of $1.20 billion. Symantec Corporation had a negative net margin of 8.68% and a positive return on equity of 10.73%. The company’s revenue for the quarter was up 38.9% on a year-over-year basis. During the same quarter last year, the firm posted $0.29 EPS. Equities research analysts predict that Symantec Corporation will post $1.81 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 13th. Stockholders of record on Monday, August 21st were given a $0.075 dividend. This represents a $0.30 dividend on an annualized basis and a dividend yield of 0.91%. The ex-dividend date was Thursday, August 17th. Symantec Corporation’s payout ratio is currently -49.18%.

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SYMC has been the topic of several recent analyst reports. Credit Suisse Group assumed coverage on Symantec Corporation in a report on Tuesday, September 5th. They issued an “outperform” rating and a $36.00 price target on the stock. Zacks Investment Research raised Symantec Corporation from a “strong sell” rating to a “buy” rating and set a $32.00 target price on the stock in a research report on Tuesday, July 11th. Morgan Stanley reaffirmed an “overweight” rating and issued a $37.00 target price on shares of Symantec Corporation in a research report on Thursday, July 13th. Robert W. Baird reaffirmed a “hold” rating and issued a $32.00 target price on shares of Symantec Corporation in a research report on Friday, September 8th. Finally, Stifel Nicolaus reaffirmed a “hold” rating and issued a $27.00 target price on shares of Symantec Corporation in a research report on Wednesday, July 19th. One investment analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and thirteen have given a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $31.54.

A number of hedge funds have recently added to or reduced their stakes in SYMC. Northwestern Mutual Wealth Management Co. boosted its stake in Symantec Corporation by 7.9% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 3,982 shares of the technology company’s stock worth $112,000 after purchasing an additional 292 shares in the last quarter. Sun Life Financial INC boosted its stake in Symantec Corporation by 44,100.0% in the 2nd quarter. Sun Life Financial INC now owns 4,420 shares of the technology company’s stock worth $125,000 after purchasing an additional 4,410 shares in the last quarter. Harfst & Associates Inc. acquired a new stake in Symantec Corporation in the 2nd quarter worth approximately $127,000. Johnson Financial Group Inc. boosted its stake in Symantec Corporation by 6.2% in the 2nd quarter. Johnson Financial Group Inc. now owns 5,596 shares of the technology company’s stock worth $158,000 after purchasing an additional 325 shares in the last quarter. Finally, IFP Advisors Inc boosted its stake in Symantec Corporation by 0.3% in the 1st quarter. IFP Advisors Inc now owns 6,283 shares of the technology company’s stock worth $193,000 after purchasing an additional 19 shares in the last quarter. Institutional investors own 91.65% of the company’s stock.

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.

Insider Buying and Selling by Quarter for Symantec Corporation (NASDAQ:SYMC)

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