Symantec Corporation (NASDAQ:SYMC) Position Reduced by Oakbrook Investments LLC
Oakbrook Investments LLC decreased its position in shares of Symantec Corporation (NASDAQ:SYMC) by 43.5% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 25,630 shares of the technology company’s stock after selling 19,770 shares during the period. Oakbrook Investments LLC’s holdings in Symantec Corporation were worth $724,000 as of its most recent SEC filing.
A number of other institutional investors have also recently made changes to their positions in SYMC. Vanguard Group Inc. raised its position in shares of Symantec Corporation by 2.7% in the first quarter. Vanguard Group Inc. now owns 60,438,125 shares of the technology company’s stock worth $1,854,242,000 after buying an additional 1,611,647 shares during the last quarter. BlackRock Inc. raised its position in shares of Symantec Corporation by 2,815.1% in the first quarter. BlackRock Inc. now owns 40,975,309 shares of the technology company’s stock worth $1,257,121,000 after buying an additional 39,569,694 shares during the last quarter. State Street Corp raised its position in shares of Symantec Corporation by 1.7% in the first quarter. State Street Corp now owns 27,978,710 shares of the technology company’s stock worth $858,386,000 after buying an additional 464,913 shares during the last quarter. FMR LLC raised its position in shares of Symantec Corporation by 41.9% in the first quarter. FMR LLC now owns 10,420,611 shares of the technology company’s stock worth $319,703,000 after buying an additional 3,076,263 shares during the last quarter. Finally, TIAA CREF Investment Management LLC raised its position in shares of Symantec Corporation by 0.4% in the first quarter. TIAA CREF Investment Management LLC now owns 8,028,955 shares of the technology company’s stock worth $246,328,000 after buying an additional 29,837 shares during the last quarter. 93.40% of the stock is owned by institutional investors.
Symantec Corporation (NASDAQ:SYMC) traded up 1.46% on Friday, reaching $28.45. The company’s stock had a trading volume of 7,202,238 shares. The firm’s market capitalization is $17.43 billion. Symantec Corporation has a 52 week low of $22.76 and a 52 week high of $33.22. The company has a 50 day moving average of $29.56 and a 200 day moving average of $29.83.
Symantec Corporation (NASDAQ:SYMC) last posted its quarterly earnings data on Wednesday, August 2nd. The technology company reported $0.15 earnings per share for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $1.20 billion. During the same quarter in the prior year, the company earned $0.29 earnings per share. The company’s revenue was up 38.9% on a year-over-year basis. On average, analysts forecast that Symantec Corporation will post $1.81 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 given a dividend of $0.075 per share. This represents a $0.30 dividend on an annualized basis and a dividend yield of 1.05%. The ex-dividend date is Thursday, August 17th. Symantec Corporation’s dividend payout ratio is currently -49.18%.
ILLEGAL ACTIVITY WARNING: This story was first reported by The Cerbat Gem and is the property of of The Cerbat Gem. If you are viewing this story on another publication, it was illegally stolen and reposted in violation of US & international copyright legislation. The correct version of this story can be read at https://www.thecerbatgem.com/2017/08/19/oakbrook-investments-llc-sells-19770-shares-of-symantec-corporation-nasdaqsymc-updated-updated-updated.html.
SYMC has been the subject of a number of research reports. Susquehanna Bancshares Inc initiated coverage on Symantec Corporation in a research note on Wednesday, June 7th. They set a “neutral” rating and a $32.00 price target for the company. Evercore ISI set a $25.00 price target on Symantec Corporation and gave the company a “hold” rating in a research note on Thursday, August 3rd. Robert W. Baird reissued a “hold” rating on shares of Symantec Corporation in a research note on Thursday, August 3rd. Barclays PLC reissued an “overweight” rating and set a $36.00 price target (down from $38.00) on shares of Symantec Corporation in a research note on Wednesday, August 9th. Finally, Citigroup Inc. restated a “neutral” rating and set a $31.00 price objective (up from $29.00) on shares of Symantec Corporation in a research report on Thursday, May 11th. Two research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and thirteen have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $31.00.
In other news, insider Michael David Fey sold 1,348,831 shares of the company’s stock in a transaction on Tuesday, August 8th. The stock was sold at an average price of $28.84, for a total transaction of $38,900,286.04. Following the sale, the insider now owns 1,605,757 shares of the company’s stock, valued at $46,310,031.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Francis C. Rosch sold 47,344 shares of the stock in a transaction on Tuesday, June 6th. The shares were sold at an average price of $30.18, for a total value of $1,428,841.92. Following the completion of the transaction, the executive vice president now directly owns 193,054 shares in the company, valued at approximately $5,826,369.72. The disclosure for this sale can be found here. Insiders have sold 1,475,916 shares of company stock worth $42,723,358 in the last ninety days. Corporate insiders own 0.76% of the company’s stock.
About Symantec Corporation
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.
Receive News & Stock Ratings for Symantec Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Symantec Corporation and related stocks with our FREE daily email newsletter.