Symantec Corporation (SYMC) Holdings Increased by Sun Life Financial INC
Sun Life Financial INC grew its holdings in Symantec Corporation (NASDAQ:SYMC) by 44,100.0% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,420 shares of the technology company’s stock after purchasing an additional 4,410 shares during the period. Sun Life Financial INC’s holdings in Symantec Corporation were worth $125,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds have also added to or reduced their stakes in the company. Northwestern Mutual Wealth Management Co. lifted its position in shares of Symantec Corporation by 7.9% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 3,982 shares of the technology company’s stock worth $112,000 after purchasing an additional 292 shares during the last quarter. Harfst & Associates Inc. purchased a new stake in shares of Symantec Corporation during the second quarter valued at $127,000. Johnson Financial Group Inc. grew its holdings in shares of Symantec Corporation by 6.2% in the second quarter. Johnson Financial Group Inc. now owns 5,596 shares of the technology company’s stock worth $158,000 after purchasing an additional 325 shares during the last quarter. Yakira Capital Management Inc. bought a new position in shares of Symantec Corporation in the first quarter worth about $217,000. Finally, Roundview Capital LLC bought a new position in shares of Symantec Corporation in the second quarter worth about $222,000. Institutional investors and hedge funds own 91.65% of the company’s stock.
In other news, Director Suzanne M. Vautrinot sold 2,500 shares of the stock in a transaction dated Monday, October 2nd. The shares were sold at an average price of $32.81, for a total value of $82,025.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Anita M. Sands sold 2,000 shares of the stock in a transaction dated Wednesday, July 12th. The shares were sold at an average price of $30.00, for a total transaction of $60,000.00. Following the completion of the transaction, the director now owns 43,386 shares of the company’s stock, valued at approximately $1,301,580. The disclosure for this sale can be found here. Insiders have sold 1,689,850 shares of company stock valued at $49,248,699 over the last three months. 1.30% of the stock is currently owned by corporate insiders.
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A number of equities research analysts recently weighed in on SYMC shares. Credit Suisse Group initiated coverage on shares of Symantec Corporation in a report on Tuesday, September 5th. They set an “outperform” rating and a $36.00 price objective for the company. Zacks Investment Research upgraded shares of Symantec Corporation from a “strong sell” rating to a “buy” rating and set a $32.00 target price on the stock in a research note on Tuesday, July 11th. Robert W. Baird restated a “hold” rating and issued a $32.00 target price on shares of Symantec Corporation in a research note on Friday, September 8th. Morgan Stanley reaffirmed an “overweight” rating and set a $37.00 target price on shares of Symantec Corporation in a research report on Thursday, July 13th. Finally, Stifel Nicolaus reaffirmed a “hold” rating and set a $27.00 target price on shares of Symantec Corporation in a research report on Wednesday, July 19th. Two equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and thirteen have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $31.54.
Symantec Corporation (SYMC) traded down 1.00% during midday trading on Wednesday, reaching $32.69. The company’s stock had a trading volume of 160,235 shares. The firm’s market capitalization is $20.03 billion. The stock’s 50-day moving average price is $31.23 and its 200 day moving average price is $30.42. Symantec Corporation has a 1-year low of $22.76 and a 1-year high of $34.20.
Symantec Corporation (NASDAQ:SYMC) last announced its quarterly earnings data on Wednesday, August 2nd. The technology company reported $0.15 EPS for the quarter, topping the Zacks’ consensus estimate of $0.12 by $0.03. The company had revenue of $1.23 billion during the quarter, compared to the consensus estimate of $1.20 billion. Symantec Corporation had a negative net margin of 8.68% and a positive return on equity of 10.73%. Symantec Corporation’s quarterly revenue was up 38.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.29 EPS. Equities analysts anticipate that Symantec Corporation will post $1.81 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, September 13th. Stockholders of record on Monday, August 21st were paid a dividend of $0.075 per share. The ex-dividend date was Thursday, August 17th. This represents a $0.30 dividend on an annualized basis and a dividend yield of 0.91%. Symantec Corporation’s dividend payout ratio (DPR) is -49.18%.
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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