MUFG Americas Holdings Corp purchased a new position in shares of Symantec Corporation (NASDAQ:SYMC) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 7,554 shares of the technology company’s stock, valued at approximately $248,000.
Several other hedge funds also recently added to or reduced their stakes in SYMC. Northwestern Mutual Wealth Management Co. lifted its stake in Symantec by 7.9% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 3,982 shares of the technology company’s stock valued at $112,000 after buying an additional 292 shares during the last quarter. Sun Life Financial INC lifted its stake in Symantec by 44,100.0% in the second quarter. Sun Life Financial INC now owns 4,420 shares of the technology company’s stock valued at $125,000 after buying an additional 4,410 shares during the last quarter. Harfst & Associates Inc. bought a new stake in Symantec in the second quarter valued at $127,000. Johnson Financial Group Inc. lifted its stake in Symantec by 6.2% in the second quarter. Johnson Financial Group Inc. now owns 5,596 shares of the technology company’s stock valued at $158,000 after buying an additional 325 shares during the last quarter. Finally, United Bank Inc. bought a new stake in Symantec in the third quarter valued at $200,000. 95.06% of the stock is owned by institutional investors and hedge funds.
In other news, SVP Amy L. Cappellanti-Wolf sold 2,163 shares of Symantec stock in a transaction dated 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 sale, the senior vice president now directly owns 115,997 shares in the company, valued at approximately $3,462,510.45. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Amy L. Cappellanti-Wolf sold 927 shares of Symantec stock in a transaction dated Thursday, September 7th. The shares were sold at an average price of $30.00, for a total value of $27,810.00. Following the sale, the senior vice president now owns 112,907 shares of the company’s stock, valued at $3,387,210. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 425,256 shares of company stock valued at $12,626,621. 1.30% of the stock is owned by corporate insiders.
Symantec (NASDAQ:SYMC) last released its earnings results on Wednesday, November 1st. The technology company reported $0.40 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.26 by $0.14. Symantec had a positive return on equity of 12.33% and a negative net margin of 5.29%. The company had revenue of $1.28 billion for the quarter, compared to analysts’ expectations of $1.27 billion. During the same quarter in the previous year, the business posted $0.30 EPS. The business’s revenue for the quarter was up 25.7% on a year-over-year basis. equities research analysts forecast that Symantec Corporation will post 1.05 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 13th. Stockholders of record on Monday, November 20th will be issued a dividend of $0.075 per share. The ex-dividend date is Friday, November 17th. This represents a $0.30 annualized dividend and a dividend yield of 1.03%. Symantec’s dividend payout ratio is -51.72%.
A number of equities research analysts have issued reports on the company. Barclays reiterated an “overweight” rating and issued a $36.00 target price (down from $38.00) on shares of Symantec in a research note on Wednesday, August 9th. Zacks Investment Research cut Symantec from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 8th. BidaskClub cut shares of Symantec from a “buy” rating to a “hold” rating in a research note on Saturday, August 5th. Morgan Stanley cut shares of Symantec from an “overweight” rating to an “equal weight” rating and cut their price objective for the company from $37.00 to $34.00 in a research note on Tuesday, October 10th. Finally, Evercore ISI restated a “hold” rating and set a $25.00 price objective on shares of Symantec in a research note on Thursday, November 2nd. Two research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and nine have assigned a buy rating to the company. Symantec currently has a consensus rating of “Hold” and an average price target of $32.39.
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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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