Mackay Shields LLC Purchases New Position in Symantec (SYMC)

Mackay Shields LLC purchased a new position in shares of Symantec (NASDAQ:SYMC) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 104,356 shares of the technology company’s stock, valued at approximately $2,698,000.

Several other hedge funds also recently modified their holdings of the company. Ledyard National Bank increased its stake in shares of Symantec by 13.6% during the 4th quarter. Ledyard National Bank now owns 15,870 shares of the technology company’s stock worth $445,000 after purchasing an additional 1,905 shares during the last quarter. Advisor Partners LLC increased its stake in shares of Symantec by 19.3% during the 4th quarter. Advisor Partners LLC now owns 13,419 shares of the technology company’s stock worth $368,000 after purchasing an additional 2,173 shares during the last quarter. Retirement Systems of Alabama grew its stake in Symantec by 0.8% in the 4th quarter. Retirement Systems of Alabama now owns 300,450 shares of the technology company’s stock valued at $8,431,000 after buying an additional 2,305 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. grew its stake in Symantec by 20.7% in the 1st quarter. Migdal Insurance & Financial Holdings Ltd. now owns 13,909 shares of the technology company’s stock valued at $360,000 after buying an additional 2,384 shares in the last quarter. Finally, New Mexico Educational Retirement Board grew its stake in Symantec by 4.6% in the 4th quarter. New Mexico Educational Retirement Board now owns 59,097 shares of the technology company’s stock valued at $1,658,000 after buying an additional 2,600 shares in the last quarter. Institutional investors own 95.18% of the company’s stock.

In other news, Director Suzanne M. Vautrinot sold 4,000 shares of Symantec stock in a transaction on Friday, March 9th. The shares were sold at an average price of $27.72, for a total transaction of $110,880.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Francis C. Rosch sold 51,899 shares of Symantec 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 of the company’s stock, valued at $5,664,361.34. The disclosure for this sale can be found here. Insiders have sold a total of 97,183 shares of company stock valued at $2,630,726 over the last ninety days. 1.30% of the stock is currently owned by insiders.

Shares of Symantec opened at $22.32 on Friday, Marketbeat Ratings reports. The company has a quick ratio of 1.15, a current ratio of 1.11 and a debt-to-equity ratio of 0.99. Symantec has a one year low of $21.89 and a one year high of $22.52. The firm has a market capitalization of $13.88 billion, a price-to-earnings ratio of 23.49, a PEG ratio of 3.13 and a beta of 0.86.

Symantec (NASDAQ:SYMC) last announced its quarterly earnings results on Thursday, May 10th. The technology company reported $0.46 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.39 by $0.07. Symantec had a net margin of 23.98% and a return on equity of 16.24%. The firm had revenue of $1.23 billion during the quarter, compared to the consensus estimate of $1.19 billion. During the same period last year, the firm earned $0.28 EPS. The business’s quarterly revenue was up 4.9% compared to the same quarter last year. equities analysts expect that Symantec will post 0.86 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 20th. Stockholders of record on Friday, June 8th will be issued a dividend of $0.075 per share. This represents a $0.30 dividend on an annualized basis and a dividend yield of 1.34%. The ex-dividend date of this dividend is Thursday, June 7th. Symantec’s dividend payout ratio is currently 31.58%.

A number of research analysts recently weighed in on the stock. Piper Jaffray lowered shares of Symantec from an “overweight” rating to a “neutral” rating in a research note on Thursday, May 10th. First Analysis lowered shares of Symantec from an “overweight” rating to an “equal weight” rating and reduced their price objective for the company from $35.00 to $23.00 in a research note on Friday, May 11th. Barclays lowered shares of Symantec from an “overweight” rating to an “equal weight” rating in a research note on Friday, May 11th. Robert W. Baird reiterated a “hold” rating and issued a $25.00 price objective on shares of Symantec in a research note on Friday, May 11th. Finally, UBS lowered shares of Symantec from an “outperform” rating to a “market perform” rating in a research note on Friday, May 11th. Five investment analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and three have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $28.85.

Symantec Company Profile

Symantec Corporation, together with its subsidiaries, provides cybersecurity solutions worldwide. It operates through two segments, Consumer Digital Safety and Enterprise Security. The Consumer Digital Safety segment provides Norton-branded services that provide multi-layer security services across desktop and mobile operating systems, public Wi-Fi connections, and home networks to defend against online threats to individuals, families, and small businesses.

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Institutional Ownership by Quarter for Symantec (NASDAQ:SYMC)

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