Sumitomo Mitsui Trust Holdings Inc. increased its stake in Symantec Corporation (NASDAQ:SYMC) by 12.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,205,621 shares of the technology company’s stock after buying an additional 244,119 shares during the period. Sumitomo Mitsui Trust Holdings Inc. owned approximately 0.36% of Symantec Corporation worth $62,309,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of SYMC. IFP Advisors Inc increased 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 last quarter. Bessemer Group Inc. increased 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 last quarter. Mason Street Advisors LLC increased 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 last quarter. Wetherby Asset Management Inc. increased 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 last quarter. Finally, Greenwood Capital Associates LLC increased 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 last quarter. 93.40% of the stock is owned by institutional investors.

Shares of Symantec Corporation (NASDAQ:SYMC) opened at 29.38 on Friday. The firm’s market capitalization is $18.00 billion. Symantec Corporation has a 12 month low of $22.76 and a 12 month high of $33.22. The stock’s 50 day moving average price is $29.63 and its 200-day moving average price is $29.87.

Symantec Corporation (NASDAQ:SYMC) last posted its quarterly earnings results on Wednesday, August 2nd. The technology company reported $0.15 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.12 by $0.03. The business had revenue of $1.23 billion for the quarter, compared to analyst estimates of $1.20 billion. Symantec Corporation had a negative net margin of 8.68% and a positive return on equity of 10.73%. The firm’s revenue for the quarter was up 38.9% on a year-over-year basis. During the same quarter last year, the business posted $0.29 EPS. On average, equities analysts anticipate that Symantec Corporation will post $1.81 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 13th. Investors of record on Monday, August 21st will be given 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 1.02%. Symantec Corporation’s dividend payout ratio is -49.18%.

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Several equities research analysts have recently weighed in on the company. UBS AG downgraded Symantec Corporation from a “buy” rating to a “neutral” rating and upped their target price for the stock from $31.00 to $33.00 in a research report on Thursday, May 18th. Robert W. Baird reissued a “hold” rating on shares of Symantec Corporation in a report on Saturday, June 10th. Evercore ISI set a $25.00 price target on Symantec Corporation and gave the company a “hold” rating in a report on Saturday, June 10th. Zacks Investment Research raised Symantec Corporation from a “strong sell” rating to a “buy” rating and set a $32.00 price target for the company in a report on Tuesday, July 11th. Finally, Barclays PLC reissued an “overweight” rating and issued a $36.00 price target (down previously from $38.00) on shares of Symantec Corporation in a report on Thursday, August 3rd. One analyst has rated the stock with a sell rating, fifteen have given a hold rating and thirteen have issued a buy rating to the company’s stock. Symantec Corporation currently has a consensus rating of “Hold” and an average price target of $31.00.

In related news, Director Suzanne M. Vautrinot sold 2,500 shares of the stock in a transaction that occurred on Monday, July 3rd. The shares were sold at an average price of $28.45, for a total transaction of $71,125.00. The transaction was disclosed in a document filed with the SEC, which is accessible through 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 stock was sold at an average price of $29.91, for a total transaction of $111,893.31. Following the sale, 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. Insiders have sold a total of 1,457,847 shares of company stock worth $42,192,310 in the last quarter. 1.30% of the stock is currently owned by company insiders.

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.

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Institutional Ownership by Quarter for Symantec Corporation (NASDAQ:SYMC)

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