State of Tennessee Treasury Department Sells 291,851 Shares of Symantec Corporation (SYMC)
State of Tennessee Treasury Department cut its holdings in Symantec Corporation (NASDAQ:SYMC) by 63.7% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 166,361 shares of the technology company’s stock after selling 291,851 shares during the period. State of Tennessee Treasury Department’s holdings in Symantec Corporation were worth $4,700,000 at the end of the most recent reporting period.
A number of other large investors have also modified their holdings of SYMC. Johnson Financial Group Inc. boosted its holdings in Symantec Corporation by 8.0% in the first quarter. Johnson Financial Group Inc. now owns 5,271 shares of the technology company’s stock worth $162,000 after purchasing an additional 390 shares in the last quarter. American Asset Management Inc. bought a new stake in Symantec Corporation in the first quarter worth $207,000. Yakira Capital Management Inc. bought a new stake in Symantec Corporation in the first quarter worth $217,000. Global Financial Private Capital LLC bought a new stake in Symantec Corporation in the first quarter worth $230,000. Finally, Wetherby Asset Management Inc. boosted its holdings in Symantec Corporation by 2.8% in the second quarter. Wetherby Asset Management Inc. now owns 8,885 shares of the technology company’s stock worth $251,000 after purchasing an additional 246 shares in the last quarter. Hedge funds and other institutional investors own 91.72% of the company’s stock.
A number of equities research analysts recently issued reports on SYMC shares. Moffett Nathanson started coverage on shares of Symantec Corporation in a report on Wednesday, September 6th. They issued a “neutral” rating and a $33.00 price objective for the company. Standpoint Research upgraded shares of Symantec Corporation from a “hold” rating to a “buy” rating in a report on Thursday, June 29th. Barclays PLC upgraded shares of Symantec Corporation from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $34.00 to $38.00 in a report on Tuesday, May 30th. Credit Suisse Group started coverage on shares of Symantec Corporation in a report on Tuesday, September 5th. They issued an “outperform” rating and a $36.00 price objective for the company. Finally, Zacks Investment Research cut shares of Symantec Corporation from a “hold” rating to a “strong sell” rating in a report on Tuesday, May 16th. One equities research analyst has rated the stock with a sell rating, sixteen have issued a hold rating and fourteen have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $31.30.
In other Symantec Corporation news, SVP Amy L. Cappellanti-Wolf sold 927 shares of Symantec Corporation stock in a transaction dated Thursday, September 7th. The shares were sold at an average price of $30.00, for a total value of $27,810.00. Following the completion of the sale, the senior vice president now owns 112,907 shares in the company, valued at approximately $3,387,210. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Gregory S. Clark sold 186,433 shares of Symantec Corporation stock in a transaction dated Monday, August 28th. The stock was sold at an average price of $30.00, for a total transaction of $5,592,990.00. Following the completion of the sale, the chief executive officer now owns 1,321,671 shares of the company’s stock, valued at approximately $39,650,130. The disclosure for this sale can be found here. Insiders sold a total of 1,657,621 shares of company stock valued at $48,174,811 in the last quarter. Corporate insiders own 1.30% of the company’s stock.
Symantec Corporation (NASDAQ SYMC) opened at 32.75 on Tuesday. The company has a 50-day moving average of $29.65 and a 200 day moving average of $29.99. Symantec Corporation has a 52-week low of $22.76 and a 52-week high of $33.22. The firm’s market cap is $20.07 billion.
Symantec Corporation (NASDAQ:SYMC) last issued its quarterly earnings data on Wednesday, August 2nd. The technology company reported $0.15 earnings per share 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 business had revenue of $1.23 billion during the quarter, compared to analysts’ expectations of $1.20 billion. During the same quarter in the previous year, the company earned $0.29 EPS. The business’s revenue was up 38.9% on a year-over-year basis. On average, equities research analysts anticipate that Symantec Corporation will post $1.81 EPS for the current year.
The firm also recently disclosed 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. This represents a $0.30 annualized dividend and a yield of 0.92%. The ex-dividend date is Thursday, August 17th. Symantec Corporation’s dividend payout ratio (DPR) is -49.18%.
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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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