Nicholas R. Noviello Sells 14,925 Shares of Symantec Corporation (SYMC) Stock
Symantec Corporation (NASDAQ:SYMC) CFO Nicholas R. Noviello sold 14,925 shares of the stock in a transaction dated Monday, August 28th. The stock was sold at an average price of $30.00, for a total value of $447,750.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.
Symantec Corporation (NASDAQ SYMC) opened at 29.89 on Thursday. 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 $29.68 and a 200-day moving average of $29.87. The stock’s market capitalization is $18.32 billion.
Symantec Corporation (NASDAQ:SYMC) last announced its earnings results on Wednesday, August 2nd. The technology company reported $0.15 EPS for the quarter, topping the 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 analysts’ expectations of $1.20 billion. During the same period last year, the company posted $0.29 earnings per share. The business’s revenue for the quarter was up 38.9% on a year-over-year basis. Analysts anticipate that Symantec Corporation will post $1.81 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 13th. Shareholders of record on Monday, August 21st will be issued a $0.075 dividend. This represents a $0.30 annualized dividend and a dividend yield of 1.00%. The ex-dividend date is Thursday, August 17th. Symantec Corporation’s payout ratio is -49.18%.
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Hedge funds and other institutional investors have recently made changes to their positions in the company. Capital World Investors boosted its position in shares of Symantec Corporation by 3.7% in the second quarter. Capital World Investors now owns 75,819,338 shares of the technology company’s stock valued at $2,141,896,000 after buying an additional 2,695,567 shares during the last quarter. Vanguard Group Inc. boosted its position in shares of Symantec Corporation by 1.3% in the second quarter. Vanguard Group Inc. now owns 61,195,217 shares of the technology company’s stock valued at $1,728,766,000 after buying an additional 757,092 shares during the last quarter. BlackRock Inc. boosted 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 valued at $1,257,121,000 after buying an additional 39,569,694 shares during the last quarter. State Street Corp boosted 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 valued at $858,386,000 after buying an additional 464,913 shares during the last quarter. Finally, Jackson Square Partners LLC boosted its position in shares of Symantec Corporation by 5.0% in the second quarter. Jackson Square Partners LLC now owns 20,071,586 shares of the technology company’s stock valued at $567,022,000 after buying an additional 964,537 shares during the last quarter. Institutional investors own 91.76% of the company’s stock.
Several equities research analysts have weighed in on the company. Robert W. Baird reaffirmed a “hold” rating on shares of Symantec Corporation in a research report on Thursday, May 11th. First Analysis raised Symantec Corporation from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $28.00 to $40.00 in a research report on Thursday, May 11th. Zacks Investment Research raised Symantec Corporation from a “sell” rating to a “hold” rating in a research report on Tuesday, May 9th. MKM Partners reaffirmed a “neutral” rating and set a $30.00 price target (up from $26.00) on shares of Symantec Corporation in a research report on Monday, May 15th. Finally, Jefferies Group LLC increased their price target on Symantec Corporation from $29.00 to $31.00 and gave the stock a “hold” rating in a research report on Thursday, May 11th. One investment analyst has rated the stock with a sell rating, fifteen have issued a hold rating and thirteen have issued a buy rating to the company. Symantec Corporation currently has a consensus rating of “Hold” and an average target price of $31.00.
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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