Oppenheimer Asset Management Inc. cut its stake in shares of Symantec Corporation (NASDAQ:SYMC) by 20.3% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 42,800 shares of the technology company’s stock after selling 10,879 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Symantec Corporation were worth $1,209,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors also recently modified their holdings of SYMC. Johnson Financial Group Inc. boosted its position in Symantec Corporation by 8.0% during the first quarter. Johnson Financial Group Inc. now owns 5,271 shares of the technology company’s stock valued at $162,000 after purchasing an additional 390 shares during the last quarter. American Asset Management Inc. acquired a new position in Symantec Corporation during the first quarter valued at approximately $207,000. Yakira Capital Management Inc. acquired a new position in Symantec Corporation during the first quarter valued at approximately $217,000. Global Financial Private Capital LLC acquired a new position in Symantec Corporation during the first quarter valued at approximately $230,000. Finally, Wetherby Asset Management Inc. boosted its position in Symantec Corporation by 2.8% during the second quarter. Wetherby Asset Management Inc. now owns 8,885 shares of the technology company’s stock valued at $251,000 after purchasing an additional 246 shares during the last quarter. 91.72% of the stock is owned by hedge funds and other institutional investors.
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In related news, SVP Amy L. Cappellanti-Wolf sold 927 shares of the stock in a transaction on Thursday, September 7th. The stock was sold at an average price of $30.00, for a total value of $27,810.00. Following the transaction, the senior vice president now owns 112,907 shares of the company’s stock, valued at $3,387,210. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Amy L. Cappellanti-Wolf sold 4,496 shares of the stock in a transaction on Thursday, September 14th. The shares were sold at an average price of $32.88, for a total value of $147,828.48. Following the completion of the transaction, the senior vice president now directly owns 108,411 shares in the company, valued at approximately $3,564,553.68. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,677,228 shares of company stock worth $48,822,058. Insiders own 1.30% of the company’s stock.
A number of analysts have recently issued reports on SYMC shares. Zacks Investment Research raised Symantec Corporation from a “strong sell” rating to a “buy” rating and set a $32.00 price objective for the company in a research report on Tuesday, July 11th. Credit Suisse Group started coverage on Symantec Corporation in a research report on Tuesday, September 5th. They issued an “outperform” rating and a $36.00 price objective for the company. Morgan Stanley reaffirmed an “overweight” rating and issued a $37.00 price objective on shares of Symantec Corporation in a research report on Thursday, July 13th. Stifel Nicolaus reaffirmed a “hold” rating and issued a $27.00 price objective on shares of Symantec Corporation in a research report on Wednesday, July 19th. Finally, Barclays PLC raised Symantec Corporation from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $34.00 to $38.00 in a research report on Tuesday, May 30th. One investment analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and thirteen have assigned a buy rating to the company. Symantec Corporation has a consensus rating of “Hold” and an average price target of $31.54.
Shares of Symantec Corporation (NASDAQ SYMC) traded up 0.88% during trading on Friday, hitting $33.24. The stock had a trading volume of 9,577,891 shares. Symantec Corporation has a 1-year low of $22.76 and a 1-year high of $34.17. The company’s market cap is $20.37 billion. The firm’s 50 day moving average is $29.97 and its 200 day moving average is $30.12.
Symantec Corporation (NASDAQ:SYMC) last released its quarterly earnings results on Wednesday, August 2nd. The technology company reported $0.15 earnings per share for the quarter, topping the consensus estimate of $0.12 by $0.03. The firm had revenue of $1.23 billion for the quarter, compared to analysts’ expectations of $1.20 billion. Symantec Corporation had a negative net margin of 8.68% and a positive return on equity of 10.73%. The business’s quarterly revenue was up 38.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.29 earnings per share. Equities research analysts anticipate that Symantec Corporation will post $1.81 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, September 13th. Stockholders of record on Monday, August 21st were issued a $0.075 dividend. The ex-dividend date of this dividend was Thursday, August 17th. This represents a $0.30 annualized dividend and a dividend yield of 0.90%. Symantec Corporation’s payout ratio is currently -49.18%.
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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