Wealthstreet Investment Advisors LLC acquired a new position in shares of Symantec Co. (NASDAQ:SYMC) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 34,997 shares of the technology company’s stock, valued at approximately $982,000.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. CI Global Investments Inc. boosted its holdings in shares of Symantec by 27.2% in the 4th quarter. CI Global Investments Inc. now owns 12,644,999 shares of the technology company’s stock valued at $354,819,000 after purchasing an additional 2,702,027 shares during the last quarter. Neuberger Berman Group LLC boosted its holdings in shares of Symantec by 2.5% in the 3rd quarter. Neuberger Berman Group LLC now owns 7,499,042 shares of the technology company’s stock valued at $246,044,000 after purchasing an additional 183,766 shares during the last quarter. Kensico Capital Management Corp acquired a new position in shares of Symantec in the 3rd quarter valued at $225,241,000. CI Investments Inc. boosted its holdings in shares of Symantec by 78.1% in the 3rd quarter. CI Investments Inc. now owns 5,179,891 shares of the technology company’s stock valued at $169,952,000 after purchasing an additional 2,271,520 shares during the last quarter. Finally, Pictet Asset Management Ltd. boosted its holdings in shares of Symantec by 38.9% in the 3rd quarter. Pictet Asset Management Ltd. now owns 3,744,732 shares of the technology company’s stock valued at $122,865,000 after purchasing an additional 1,049,100 shares during the last quarter. Hedge funds and other institutional investors own 94.83% of the company’s stock.
Several equities analysts recently weighed in on SYMC shares. BidaskClub raised shares of Symantec from a “sell” rating to a “hold” rating in a research note on Tuesday, December 12th. Deutsche Bank started coverage on shares of Symantec in a research note on Tuesday, December 19th. They set a “hold” rating and a $30.00 price target on the stock. Zacks Investment Research raised shares of Symantec from a “sell” rating to a “hold” rating in a research report on Tuesday, January 2nd. Jefferies Group downgraded shares of Symantec from a “hold” rating to an “underperform” rating and dropped their target price for the stock from $30.00 to $23.00 in a research report on Thursday, January 18th. Finally, Credit Suisse Group downgraded shares of Symantec from an “outperform” rating to a “neutral” rating and dropped their target price for the stock from $36.00 to $30.00 in a research report on Monday, January 22nd. Three research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and seven have issued a buy rating to the stock. Symantec currently has a consensus rating of “Hold” and a consensus price target of $30.87.
In other Symantec news, EVP Francis C. Rosch sold 51,899 shares of the business’s stock in a transaction dated Monday, March 5th. The shares were sold at an average price of $26.59, for a total transaction of $1,379,994.41. Following the completion of the transaction, the executive vice president now directly owns 213,026 shares of the company’s stock, valued at approximately $5,664,361.34. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.30% of the company’s stock.
Symantec Co. (NASDAQ:SYMC) traded up $0.39 during trading on Thursday, reaching $27.63. 3,880,348 shares of the company’s stock were exchanged, compared to its average volume of 6,540,000. The company has a debt-to-equity ratio of 1.13, a current ratio of 1.15 and a quick ratio of 1.15. The firm has a market cap of $17,170.00, a price-to-earnings ratio of 106.27, a price-to-earnings-growth ratio of 3.09 and a beta of 0.89. Symantec Co. has a 52-week low of $24.94 and a 52-week high of $34.20.
Symantec (NASDAQ:SYMC) last posted its earnings results on Wednesday, January 31st. The technology company reported $0.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.44 by $0.05. The firm had revenue of $1.23 billion during the quarter, compared to analyst estimates of $1.27 billion. Symantec had a net margin of 22.24% and a return on equity of 14.26%. Symantec’s revenue was up 13.4% on a year-over-year basis. During the same period in the previous year, the business posted $0.32 EPS. research analysts anticipate that Symantec Co. will post 0.99 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 14th. Shareholders of record on Tuesday, February 20th will be paid a dividend of $0.075 per share. This represents a $0.30 dividend on an annualized basis and a yield of 1.09%. The ex-dividend date of this dividend is Friday, February 16th. Symantec’s payout ratio is 115.38%.
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Symantec Company Profile
Symantec Corporation is a United States-based cyber security company. The Company offers products under categories, such as threat protection, information protection and cyber security services. 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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