Symantec Corporation (SYMC) Shares Bought by JPMorgan Chase & Co.
JPMorgan Chase & Co. lifted its stake in shares of Symantec Corporation (NASDAQ:SYMC) by 23.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,102,839 shares of the technology company’s stock after purchasing an additional 396,981 shares during the quarter. JPMorgan Chase & Co. owned about 0.35% of Symantec Corporation worth $59,406,000 at the end of the most recent reporting period.
Other hedge funds also recently added to or reduced their stakes in the company. Johnson Financial Group Inc. boosted its position in shares of Symantec Corporation by 8.0% during the 1st 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 position in shares of Symantec Corporation during the 1st quarter worth about $207,000. Yakira Capital Management Inc. bought a new position in shares of Symantec Corporation during the 1st quarter worth about $217,000. Global Financial Private Capital LLC bought a new position in shares of Symantec Corporation during the 1st quarter worth about $230,000. Finally, Wetherby Asset Management Inc. boosted its position in shares of Symantec Corporation by 2.8% during the 2nd 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. 91.72% of the stock is currently owned by institutional investors.
In other news, SVP Amy L. Cappellanti-Wolf sold 927 shares of the business’s stock in a transaction that occurred on Thursday, September 7th. The shares were sold at an average price of $30.00, for a total transaction of $27,810.00. Following the completion of the transaction, the senior vice president now directly owns 112,907 shares of the company’s stock, valued at $3,387,210. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Amy L. Cappellanti-Wolf sold 2,163 shares of the business’s stock in a transaction that occurred on Tuesday, September 5th. The shares were sold at an average price of $29.85, for a total transaction of $64,565.55. Following the transaction, the senior vice president now directly owns 115,997 shares of the company’s stock, valued at $3,462,510.45. The disclosure for this sale can be found here. Insiders have sold 1,657,621 shares of company stock valued at $48,174,811 over the last three months. 1.30% of the stock is owned by corporate insiders.
Symantec Corporation (NASDAQ SYMC) opened at 33.73 on Wednesday. The company’s market capitalization is $20.67 billion. Symantec Corporation has a 52-week low of $22.76 and a 52-week high of $33.87. The stock’s 50 day moving average is $29.74 and its 200-day moving average is $30.01.
Symantec Corporation (NASDAQ:SYMC) last issued its earnings results on Wednesday, August 2nd. The technology company reported $0.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.12 by $0.03. The business had revenue of $1.23 billion during the quarter, compared to analysts’ expectations of $1.20 billion. Symantec Corporation had a negative net margin of 8.68% and a positive return on equity of 10.73%. The business’s revenue for the quarter was up 38.9% compared to the same quarter last year. During the same period in the previous year, the company earned $0.29 earnings per share. Analysts predict that Symantec Corporation will post $1.81 EPS for the current fiscal 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 issued a dividend of $0.075 per share. The ex-dividend date of this dividend is Thursday, August 17th. This represents a $0.30 annualized dividend and a dividend yield of 0.89%. Symantec Corporation’s payout ratio is -49.18%.
A number of equities analysts have recently issued reports on SYMC shares. Goldman Sachs Group, Inc. (The) reissued a “buy” rating and set a $36.00 price objective on shares of Symantec Corporation in a research report on Friday, June 9th. BidaskClub raised shares of Symantec Corporation from a “hold” rating to a “buy” rating in a research report on Wednesday, July 12th. Zacks Investment Research raised shares of Symantec Corporation from a “strong sell” rating to a “buy” rating and set a $32.00 price objective on the stock in a research report on Tuesday, July 11th. Standpoint Research raised shares of Symantec Corporation from a “hold” rating to a “buy” rating in a research report on Thursday, June 29th. Finally, Piper Jaffray Companies reissued a “buy” rating and set a $40.00 price objective on shares of Symantec Corporation in a research report on Tuesday. One equities research analyst has rated the stock with a sell rating, sixteen have given a hold rating and fourteen have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $31.48.
TRADEMARK VIOLATION WARNING: This article was originally published by The Cerbat Gem and is the property of of The Cerbat Gem. If you are viewing this article on another publication, it was illegally copied and reposted in violation of United States and international copyright & trademark laws. The original version of this article can be read at https://www.thecerbatgem.com/2017/09/13/symantec-corporation-symc-shares-bought-by-jpmorgan-chase-co.html.
Symantec Corporation 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.
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.