Standpoint Research lowered shares of Symantec Corporation (NASDAQ:SYMC) from a buy rating to a hold rating in a research report released on Monday morning, Marketbeat.com reports.
Several other research analysts also recently weighed in on SYMC. Barclays PLC reaffirmed an overweight rating and set a $36.00 target price (down from $38.00) on shares of Symantec Corporation in a research note on Wednesday, August 9th. Zacks Investment Research downgraded Symantec Corporation from a hold rating to a sell rating in a research note on Tuesday, October 3rd. BidaskClub downgraded Symantec Corporation from a buy rating to a hold rating in a research note on Saturday, August 5th. Robert W. Baird reaffirmed a hold rating on shares of Symantec Corporation in a research note on Thursday, August 3rd. Finally, Oppenheimer Holdings, Inc. reaffirmed an outperform rating and set a $35.00 target price (up from $33.00) on shares of Symantec Corporation in a research note on Friday, August 4th. Three equities research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and eleven have given a buy rating to the company’s stock. Symantec Corporation currently has a consensus rating of Hold and an average price target of $31.42.
Shares of Symantec Corporation (NASDAQ SYMC) opened at 31.90 on Monday. The stock’s 50 day moving average is $32.06 and its 200 day moving average is $30.53. The company’s market cap is $19.55 billion. Symantec Corporation has a 52-week low of $22.76 and a 52-week high of $34.20.
Symantec Corporation (NASDAQ:SYMC) last announced its earnings results on Wednesday, August 2nd. The technology company reported $0.15 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.12 by $0.03. The business had revenue of $1.23 billion during the quarter, compared to the consensus estimate of $1.20 billion. Symantec Corporation had a positive return on equity of 10.73% and a negative net margin of 8.68%. The business’s quarterly revenue was up 38.9% on a year-over-year basis. During the same period in the prior year, the company posted $0.29 EPS. Equities analysts forecast that Symantec Corporation will post $1.80 EPS for the current year.
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The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 13th. Stockholders of record on Monday, August 21st were issued a dividend of $0.075 per share. This represents a $0.30 dividend on an annualized basis and a dividend yield of 0.94%. The ex-dividend date of this dividend was Thursday, August 17th. Symantec Corporation’s dividend payout ratio is presently -49.18%.
In other news, insider Michael David Fey sold 1,348,831 shares of the stock in a transaction on Tuesday, August 8th. The stock was sold at an average price of $28.84, for a total transaction of $38,900,286.04. Following the completion of the transaction, the insider now directly owns 1,605,757 shares in the company, valued at approximately $46,310,031.88. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Suzanne M. Vautrinot sold 2,500 shares of the stock in a transaction on Monday, October 2nd. The stock was sold at an average price of $32.81, for a total value of $82,025.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,662,816 shares of company stock valued at $48,437,529. Company insiders own 1.30% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Northwestern Mutual Wealth Management Co. grew its holdings in shares of Symantec Corporation by 7.9% during 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 during the period. Sun Life Financial INC grew its holdings in shares of Symantec Corporation by 44,100.0% during 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 during the period. Harfst & Associates Inc. purchased a new position in shares of Symantec Corporation during the 2nd quarter worth $127,000. Johnson Financial Group Inc. grew its holdings in shares of Symantec Corporation by 6.2% during 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 during the period. Finally, Yakira Capital Management Inc. purchased a new position in shares of Symantec Corporation during the 1st quarter worth $217,000. Institutional investors and hedge funds own 91.65% of the company’s stock.
Symantec Corporation Company 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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