American Century Companies Inc. trimmed its holdings in Symantec Corporation (NASDAQ:SYMC) by 43.6% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,604,872 shares of the technology company’s stock after selling 1,238,746 shares during the quarter. American Century Companies Inc. owned about 0.26% of Symantec Corporation worth $52,656,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors have also modified their holdings of the company. Northwestern Mutual Wealth Management Co. increased its stake in shares of 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 acquiring an additional 292 shares in the last quarter. Sun Life Financial INC increased its stake in shares of 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 acquiring an additional 4,410 shares in the last quarter. Harfst & Associates Inc. bought a new position in shares of Symantec Corporation in the 2nd quarter worth about $127,000. Johnson Financial Group Inc. increased its stake in shares of 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 acquiring an additional 325 shares in the last quarter. Finally, United Bank Inc. bought a new position in shares of Symantec Corporation in the 3rd quarter worth about $200,000. Institutional investors own 90.39% of the company’s stock.
SYMC has been the subject of several research reports. Zacks Investment Research lowered shares of Symantec Corporation from a “hold” rating to a “sell” rating in a research note on Tuesday, October 3rd. Moffett Nathanson initiated coverage on shares of Symantec Corporation in a research note 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 research note 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 research note on Thursday, November 2nd. Finally, Royal Bank Of Canada reiterated a “hold” rating and issued a $32.00 price target on shares of Symantec Corporation in a research note on Monday, July 31st. Two analysts have rated the stock with a sell rating, fifteen have issued a hold rating and ten have given a buy rating to the stock. Symantec Corporation presently has a consensus rating of “Hold” and a consensus target price of $32.39.
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Symantec Corporation (SYMC) opened at $28.36 on Monday. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 1.72. 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 has a 1-year low of $23.20 and a 1-year high of $34.20.
Symantec Corporation (NASDAQ:SYMC) last posted its quarterly earnings data on Wednesday, November 1st. The technology company reported $0.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.26 by $0.14. The company had revenue of $1.28 billion for the quarter, compared to the consensus estimate of $1.27 billion. Symantec Corporation had a negative net margin of 5.29% and a positive return on equity of 12.33%. The firm’s revenue was up 25.7% compared to the same quarter last year. During the same quarter last year, the firm posted $0.30 earnings per share. analysts expect that Symantec Corporation will post 1.05 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 13th. Investors of record on Monday, November 20th will be issued a $0.075 dividend. This represents a $0.30 dividend on an annualized basis and a dividend yield of 1.06%. The ex-dividend date of this dividend is Friday, November 17th. Symantec Corporation’s payout ratio is -75.00%.
In related news, Director Suzanne M. Vautrinot sold 2,500 shares of the firm’s stock in a transaction that occurred on Monday, October 2nd. The shares were sold at an average price of $32.81, for a total value of $82,025.00. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP Amy L. Cappellanti-Wolf sold 2,163 shares of the firm’s stock in a transaction that occurred on Tuesday, September 5th. The stock was sold at an average price of $29.85, for a total transaction of $64,565.55. Following the completion of the transaction, the senior vice president now directly owns 115,997 shares in the company, valued at approximately $3,462,510.45. The disclosure for this sale can be found here. In the last three months, insiders sold 671,985 shares of company stock worth $20,028,343. 1.30% of the stock is currently owned by insiders.
Symantec Corporation 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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