Morgan Stanley restated their overweight rating on shares of Symantec Corporation (NASDAQ:SYMC) in a research note published on Thursday, July 13th. The firm currently has a $37.00 target price on the technology company’s stock.

A number of other brokerages have also weighed in on SYMC. Susquehanna Bancshares Inc initiated coverage on Symantec Corporation in a research report on Wednesday, June 7th. They issued a neutral rating and a $32.00 target price for the company. Barclays PLC set a $32.00 target price on Symantec Corporation and gave the stock a hold rating in a research report on Monday, April 10th. Citigroup Inc. reissued a neutral rating and issued a $31.00 target price (up previously from $29.00) on shares of Symantec Corporation in a research report on Thursday, May 11th. Zacks Investment Research raised Symantec Corporation from a strong sell rating to a buy rating and set a $32.00 target price for the company in a research report on Tuesday, July 11th. Finally, Robert W. Baird reissued a hold rating on shares of Symantec Corporation in a research report on Saturday, June 10th. One investment analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and thirteen have assigned a buy rating to the company’s stock. The stock has an average rating of Hold and an average price target of $31.00.

Shares of Symantec Corporation (SYMC) opened at 28.49 on Thursday. Symantec Corporation has a one year low of $21.50 and a one year high of $33.22. The stock has a 50 day moving average of $29.63 and a 200 day moving average of $29.73. The stock’s market cap is $17.35 billion.

Symantec Corporation (NASDAQ:SYMC) last issued its earnings results 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 positive return on equity of 10.73% and a negative net margin of 8.68%. The business had revenue of $1.23 billion during the quarter, compared to analyst estimates of $1.20 billion. During the same quarter in the previous year, the firm earned $0.29 EPS. Symantec Corporation’s revenue was up 38.9% on a year-over-year basis. On average, analysts forecast that Symantec Corporation will post $1.80 EPS for the current year.

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The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 13th. Shareholders of record on Monday, August 21st will be paid a $0.075 dividend. The ex-dividend date of this dividend is Thursday, August 17th. This represents a $0.30 annualized dividend and a yield of 1.05%. Symantec Corporation’s payout ratio is -49.18%.

In other news, CAO Mark S. Garfield sold 18,069 shares of the company’s stock in a transaction that occurred on Tuesday, May 23rd. The stock was sold at an average price of $29.39, for a total transaction of $531,047.91. Following the sale, the chief accounting officer now directly owns 92,754 shares of the company’s stock, valued at approximately $2,726,040.06. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Scott C. Taylor sold 15,000 shares of the company’s stock in a transaction that occurred on Monday, July 24th. The stock was sold at an average price of $31.04, for a total value of $465,600.00. Following the sale, the executive vice president now directly owns 257,591 shares in the company, valued at $7,995,624.64. The disclosure for this sale can be found here. Insiders sold a total of 188,943 shares of company stock valued at $5,766,330 over the last 90 days. 0.76% of the stock is currently owned by corporate insiders.

Hedge funds have recently modified their holdings of the company. IFP Advisors Inc boosted its stake in shares of Symantec Corporation by 0.3% in the first quarter. IFP Advisors Inc now owns 6,283 shares of the technology company’s stock valued at $193,000 after buying an additional 19 shares during the period. Bessemer Group Inc. boosted its stake in shares of Symantec Corporation by 1.2% in the second quarter. Bessemer Group Inc. now owns 9,311 shares of the technology company’s stock valued at $263,000 after buying an additional 106 shares during the period. Mason Street Advisors LLC boosted its stake in shares of Symantec Corporation by 0.3% in the first quarter. Mason Street Advisors LLC now owns 85,518 shares of the technology company’s stock valued at $2,624,000 after buying an additional 237 shares during the period. Wetherby Asset Management Inc. boosted its stake in shares of Symantec Corporation by 2.8% in the second quarter. Wetherby Asset Management Inc. now owns 8,885 shares of the technology company’s stock valued at $251,000 after buying an additional 246 shares during the period. Finally, Greenwood Capital Associates LLC boosted its stake in shares of Symantec Corporation by 1.7% in the first quarter. Greenwood Capital Associates LLC now owns 15,210 shares of the technology company’s stock valued at $467,000 after buying an additional 255 shares during the period. 93.82% of the stock is currently owned by institutional investors and hedge funds.

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.

Analyst Recommendations for Symantec Corporation (NASDAQ:SYMC)

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