Symantec Corporation (SYMC) Position Maintained by Profit Investment Management LLC
Profit Investment Management LLC held its position in Symantec Corporation (NASDAQ:SYMC) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,097 shares of the technology company’s stock at the end of the second quarter. Profit Investment Management LLC’s holdings in Symantec Corporation were worth $313,000 at the end of the most recent quarter.
Other institutional investors also recently bought and sold shares of the company. Advisory Services Network LLC bought a new position in Symantec Corporation during the first quarter valued at $142,000. Johnson Financial Group Inc. raised its position in Symantec Corporation by 8.0% in the first quarter. Johnson Financial Group Inc. now owns 5,271 shares of the technology company’s stock worth $162,000 after buying an additional 390 shares during the last quarter. IFP Advisors Inc raised its position in Symantec Corporation by 0.3% in the first quarter. IFP Advisors Inc now owns 6,283 shares of the technology company’s stock worth $193,000 after buying an additional 19 shares during the last quarter. American Asset Management Inc. acquired a new position in Symantec Corporation during the first quarter worth approximately $207,000. Finally, Yakira Capital Management Inc. purchased a new position in shares of Symantec Corporation during the first quarter valued at about $217,000. Institutional investors own 93.82% of the company’s stock.
Shares of Symantec Corporation (SYMC) opened at 29.17 on Monday. Symantec Corporation has a 52-week low of $20.47 and a 52-week high of $33.22. The stock has a 50 day moving average of $29.53 and a 200 day moving average of $29.72. The stock’s market capitalization is $17.76 billion.
Symantec Corporation (NASDAQ:SYMC) last released its quarterly earnings data on Wednesday, August 2nd. The technology company reported $0.15 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.12 by $0.03. Symantec Corporation had a negative net margin of 8.68% and a positive return on equity of 10.73%. The company had revenue of $1.23 billion during the quarter, compared to analyst estimates of $1.20 billion. The firm’s revenue for the quarter was up 38.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.29 earnings per share. Analysts forecast that Symantec Corporation will post $1.80 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 13th. Stockholders of record on Monday, August 21st will be issued a dividend of $0.075 per share. The ex-dividend date is Thursday, August 17th. This represents a $0.30 annualized dividend and a dividend yield of 1.03%. Symantec Corporation’s dividend payout ratio (DPR) is currently -49.18%.
A number of equities research analysts have weighed in on SYMC shares. UBS AG downgraded Symantec Corporation from a “buy” rating to a “neutral” rating and lifted their price objective for the company from $31.00 to $33.00 in a report on Thursday, May 18th. Robert W. Baird restated a “hold” rating on shares of Symantec Corporation in a research report on Saturday, June 10th. Evercore ISI set a $25.00 target price on shares of Symantec Corporation and gave the company a “hold” rating in a research report on Saturday, June 10th. Zacks Investment Research upgraded shares of 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. Finally, Barclays PLC reaffirmed an “overweight” rating and issued a $36.00 target price (down from $38.00) on shares of Symantec Corporation in a research note on Thursday. One research analyst has rated the stock with a sell rating, fourteen have given a hold rating and fourteen have given a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $31.00.
In other news, Director Anita M. Sands sold 2,000 shares of the stock in a transaction that occurred on Wednesday, May 17th. The stock was sold at an average price of $30.16, for a total transaction of $60,320.00. Following the transaction, the director now owns 45,486 shares in the company, valued at approximately $1,371,857.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Amy L. Cappellanti-Wolf sold 3,741 shares of the stock in a transaction that occurred on Monday, June 5th. The shares were sold at an average price of $29.91, for a total value of $111,893.31. Following the transaction, the senior vice president now owns 88,774 shares in the company, valued at approximately $2,655,230.34. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 188,943 shares of company stock worth $5,766,330. Corporate insiders own 0.76% 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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