Symantec Corporation (SYMC) Holdings Decreased by Westpac Banking Corp
Westpac Banking Corp lowered its holdings in Symantec Corporation (NASDAQ:SYMC) by 18.7% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 41,763 shares of the technology company’s stock after selling 9,614 shares during the period. Westpac Banking Corp’s holdings in Symantec Corporation were worth $1,180,000 at the end of the most recent reporting period.
Several other large investors have also added to or reduced their stakes in SYMC. BlackRock Inc. raised its holdings in shares of Symantec Corporation by 2,815.1% during the 1st 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 in the last quarter. FMR LLC raised its holdings in shares of Symantec Corporation by 41.9% during the 1st quarter. FMR LLC now owns 10,420,611 shares of the technology company’s stock valued at $319,703,000 after buying an additional 3,076,263 shares in the last quarter. Janus Capital Management LLC raised its holdings in shares of Symantec Corporation by 32.2% during the 1st quarter. Janus Capital Management LLC now owns 7,033,459 shares of the technology company’s stock valued at $215,787,000 after buying an additional 1,714,844 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of Symantec Corporation by 2.7% during the 1st quarter. Vanguard Group Inc. now owns 60,438,125 shares of the technology company’s stock valued at $1,854,242,000 after buying an additional 1,611,647 shares in the last quarter. Finally, Jericho Capital Asset Management L.P. purchased a new position in shares of Symantec Corporation during the 1st quarter valued at about $38,663,000. 91.72% of the stock is currently owned by hedge funds and other institutional investors.
In other Symantec Corporation news, Director Suzanne M. Vautrinot sold 2,500 shares of the stock in a transaction on Monday, July 3rd. The stock was sold at an average price of $28.45, for a total transaction of $71,125.00. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Anita M. Sands sold 2,000 shares of the stock in a transaction on Wednesday, July 12th. The shares were sold at an average price of $30.00, for a total value of $60,000.00. Following the sale, the director now directly owns 43,386 shares in the company, valued at approximately $1,301,580. The disclosure for this sale can be found here. Insiders have sold a total of 1,657,621 shares of company stock worth $48,174,811 in the last ninety days. Insiders own 1.30% of the company’s stock.
Symantec Corporation (NASDAQ:SYMC) opened at 31.63 on Friday. The stock’s market cap is $19.38 billion. Symantec Corporation has a 52 week low of $22.76 and a 52 week high of $33.22. The firm’s 50-day moving average price is $29.70 and its 200-day moving average price is $29.96.
Symantec Corporation (NASDAQ:SYMC) last announced its earnings results on Wednesday, August 2nd. The technology company reported $0.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.12 by $0.03. The business had revenue of $1.23 billion for the quarter, compared to analysts’ expectations of $1.20 billion. Symantec Corporation had a positive return on equity of 10.73% and a negative net margin of 8.68%. The business’s revenue for the quarter was up 38.9% on a year-over-year basis. During the same quarter last year, the firm earned $0.29 EPS. Equities analysts predict that Symantec Corporation will post $1.81 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 13th. Shareholders 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 yield of 0.95%. Symantec Corporation’s dividend payout ratio (DPR) is presently -49.18%.
A number of equities analysts recently weighed in on the company. Barclays PLC reissued an “overweight” rating and set a $36.00 price objective (down from $38.00) on shares of Symantec Corporation in a report on Thursday, August 3rd. Zacks Investment Research cut Symantec Corporation from a “hold” rating to a “strong sell” rating in a report on Tuesday, May 16th. Robert W. Baird reissued a “hold” rating and set a $32.00 price objective on shares of Symantec Corporation in a report on Friday. Royal Bank Of Canada reissued a “hold” rating and set a $32.00 price objective on shares of Symantec Corporation in a report on Monday, July 31st. Finally, BidaskClub raised Symantec Corporation from a “sell” rating to a “hold” rating in a report on Wednesday, August 23rd. One analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and fourteen have issued a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $31.30.
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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