Teachers Advisors LLC decreased its stake in Symantec Co. (NASDAQ:SYMC) by 11.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,826,455 shares of the company’s stock after selling 767,921 shares during the period. Teachers Advisors LLC owned 0.94% of Symantec worth $139,194,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also modified their holdings of the company. Orbis Allan Gray Ltd increased its position in shares of Symantec by 36.4% in the fourth quarter. Orbis Allan Gray Ltd now owns 5,584,719 shares of the company’s stock valued at $133,419,000 after buying an additional 1,489,025 shares during the last quarter. Quadrature Capital Ltd increased its position in shares of Symantec by 131.3% in the fourth quarter. Quadrature Capital Ltd now owns 104,690 shares of the company’s stock valued at $2,501,000 after buying an additional 59,427 shares during the last quarter. Dodge & Cox acquired a new position in shares of Symantec during the fourth quarter valued at about $180,155,000. Vident Investment Advisory LLC increased its position in shares of Symantec by 7.3% in the fourth quarter. Vident Investment Advisory LLC now owns 114,121 shares of the company’s stock valued at $2,726,000 after buying an additional 7,800 shares during the last quarter. Finally, Norges Bank acquired a new position in shares of Symantec during the fourth quarter valued at about $134,284,000. 93.90% of the stock is currently owned by institutional investors.
Shares of Symantec Co. (NASDAQ:SYMC) traded up 1.55% during mid-day trading on Wednesday, hitting $30.83. 6,798,119 shares of the company traded hands. The firm has a market cap of $19.08 billion, a price-to-earnings ratio of 9.29 and a beta of 1.17. Symantec Co. has a 52-week low of $16.25 and a 52-week high of $31.10. The firm has a 50-day moving average price of $29.51 and a 200 day moving average price of $26.19.
Symantec (NASDAQ:SYMC) last issued its earnings results on Wednesday, February 1st. The company reported $0.32 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.28 by $0.04. The company had revenue of $1.09 billion for the quarter, compared to analysts’ expectations of $1.08 billion. Symantec had a net margin of 55.12% and a return on equity of 12.69%. The firm’s revenue was up 19.7% compared to the same quarter last year. During the same period in the prior year, the company earned $0.26 earnings per share. Equities research analysts anticipate that Symantec Co. will post $1.19 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 15th. Shareholders of record on Monday, February 20th were issued a dividend of $0.075 per share. The ex-dividend date was Thursday, February 16th. This represents a $0.30 dividend on an annualized basis and a dividend yield of 0.97%. Symantec’s dividend payout ratio (DPR) is 9.35%.
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Several research analysts have issued reports on the stock. Morgan Stanley raised their price objective on shares of Symantec from $33.00 to $37.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 22nd. Oppenheimer Holdings Inc. reissued an “outperform” rating and set a $32.00 price objective on shares of Symantec in a research report on Friday, March 3rd. Wunderlich raised their price objective on shares of Symantec from $30.00 to $32.00 and gave the stock a “buy” rating in a research report on Monday, February 27th. Barclays PLC assumed coverage on shares of Symantec in a research report on Friday, February 10th. They set an “equal weight” rating and a $30.00 price objective on the stock. Finally, MKM Partners reissued a “neutral” rating and set a $26.00 price objective on shares of Symantec in a research report on Monday, February 6th. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating and ten have assigned a buy rating to the company. Symantec currently has a consensus rating of “Hold” and an average target price of $28.20.
In other Symantec news, Director Suzanne M. Vautrinot sold 2,500 shares of the stock in a transaction on Friday, January 6th. The shares were sold at an average price of $25.00, for a total transaction of $62,500.00. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Scott C. Taylor sold 24,000 shares of the stock in a transaction on Friday, January 13th. The stock was sold at an average price of $26.00, for a total transaction of $624,000.00. Following the sale, the executive vice president now directly owns 248,577 shares in the company, valued at $6,463,002. The disclosure for this sale can be found here. Insiders have sold 99,732 shares of company stock worth $2,728,370 over the last three months. 0.76% of the stock is owned by corporate insiders.
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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