Adi Capital Management LLC lessened its holdings in Symantec Co. (NASDAQ:SYMC) by 22.4% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 471,140 shares of the technology company’s stock after selling 135,658 shares during the period. Symantec accounts for 9.0% of Adi Capital Management LLC’s holdings, making the stock its 4th biggest position. Adi Capital Management LLC owned about 0.08% of Symantec worth $13,220,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Orbis Allan Gray Ltd raised its stake in Symantec by 308.8% in the 4th quarter. Orbis Allan Gray Ltd now owns 29,262,025 shares of the technology company’s stock valued at $821,092,000 after acquiring an additional 22,104,563 shares during the period. CI Global Investments Inc. grew its holdings in shares of Symantec by 27.2% during the 4th quarter. CI Global Investments Inc. now owns 12,644,999 shares of the technology company’s stock worth $354,819,000 after purchasing an additional 2,702,027 shares in the last quarter. Neuberger Berman Group LLC grew its holdings in shares of Symantec by 2.5% during the 3rd quarter. Neuberger Berman Group LLC now owns 7,499,042 shares of the technology company’s stock worth $246,044,000 after purchasing an additional 183,766 shares in the last quarter. Kensico Capital Management Corp acquired a new stake in Symantec in the third quarter valued at about $225,241,000. Finally, Geode Capital Management LLC boosted its stake in Symantec by 3.1% in the fourth quarter. Geode Capital Management LLC now owns 6,821,186 shares of the technology company’s stock valued at $191,016,000 after buying an additional 206,884 shares in the last quarter. Institutional investors and hedge funds own 95.37% of the company’s stock.
SYMC has been the topic of a number of recent research reports. Bank of America lifted their price target on Symantec from $19.00 to $21.00 and gave the company an “underperform” rating in a research note on Thursday, February 1st. BidaskClub lowered Symantec from a “sell” rating to a “strong sell” rating in a research note on Saturday, January 13th. Evercore ISI restated a “hold” rating and set a $25.00 price objective on shares of Symantec in a research report on Thursday, February 1st. Stephens restated a “hold” rating and set a $29.00 price objective on shares of Symantec in a research report on Thursday, February 1st. Finally, Credit Suisse Group downgraded Symantec from an “outperform” rating to a “neutral” rating and lowered their price objective 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 issued a hold rating and seven have given a buy rating to the company. Symantec has a consensus rating of “Hold” and an average target price of $30.87.
Symantec Co. (SYMC) opened at $27.54 on Friday. The firm has a market capitalization of $17,011.51, a price-to-earnings ratio of 34.65, a price-to-earnings-growth ratio of 3.13 and a beta of 0.89. The company has a debt-to-equity ratio of 1.13, a current ratio of 1.15 and a quick ratio of 1.15. Symantec Co. has a 1 year low of $24.94 and a 1 year high of $34.20.
Symantec (NASDAQ:SYMC) last issued its earnings results on Wednesday, January 31st. The technology company reported $0.49 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.44 by $0.05. The firm had revenue of $1.23 billion for the quarter, compared to analyst estimates of $1.27 billion. Symantec had a return on equity of 14.26% and a net margin of 22.24%. The business’s revenue was up 13.4% on a year-over-year basis. During the same period in the previous year, the company posted $0.32 earnings per share. equities analysts expect that Symantec Co. will post 0.99 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 14th. Investors of record on Tuesday, February 20th were paid a dividend of $0.075 per share. The ex-dividend date was Friday, February 16th. This represents a $0.30 dividend on an annualized basis and a dividend yield of 1.09%. Symantec’s payout ratio is 19.48%.
In related news, EVP Francis C. Rosch sold 51,899 shares of the business’s stock in a transaction on 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 approximately $5,664,361.34. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Suzanne M. Vautrinot sold 4,000 shares of the company’s stock in a transaction dated Friday, March 9th. The stock was sold at an average price of $27.72, for a total value of $110,880.00. The disclosure for this sale can be found here. Insiders own 1.30% of the company’s stock.
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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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