Symantec Corporation (SYMC) Shares Sold by Teachers Retirement System of The State of Kentucky
Teachers Retirement System of The State of Kentucky lessened its stake in shares of Symantec Corporation (NASDAQ:SYMC) by 5.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 68,884 shares of the technology company’s stock after selling 4,000 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in Symantec Corporation were worth $1,946,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. UBS Asset Management Americas Inc. boosted its stake in Symantec Corporation by 10.8% during the first quarter. UBS Asset Management Americas Inc. now owns 2,229,361 shares of the technology company’s stock valued at $68,397,000 after buying an additional 217,935 shares in the last quarter. Raymond James Financial Services Advisors Inc. raised its position in Symantec Corporation by 4.7% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 19,099 shares of the technology company’s stock worth $586,000 after acquiring an additional 856 shares in the last quarter. Blair William & Co. IL raised its position in Symantec Corporation by 2.7% in the first quarter. Blair William & Co. IL now owns 13,018 shares of the technology company’s stock worth $372,000 after acquiring an additional 345 shares in the last quarter. Cibc World Markets Corp raised its position in Symantec Corporation by 47.6% in the first quarter. Cibc World Markets Corp now owns 67,877 shares of the technology company’s stock worth $2,082,000 after acquiring an additional 21,889 shares in the last quarter. Finally, Westpac Banking Corp raised its position in Symantec Corporation by 69.2% in the first quarter. Westpac Banking Corp now owns 60,637 shares of the technology company’s stock worth $1,115,000 after acquiring an additional 24,805 shares in the last quarter. Institutional investors and hedge funds own 91.65% of the company’s stock.
In other Symantec Corporation news, insider Michael David Fey sold 1,348,831 shares of the business’s stock in a transaction that occurred on Tuesday, August 8th. The stock was sold at an average price of $28.84, for a total value of $38,900,286.04. Following the sale, the insider now owns 1,605,757 shares in the company, valued at approximately $46,310,031.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 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 value of $64,565.55. Following the completion of the sale, the senior vice president now owns 115,997 shares in the company, valued at approximately $3,462,510.45. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,689,850 shares of company stock valued at $49,248,699. Company insiders own 1.30% of the company’s stock.
SYMC has been the topic of several recent research reports. Evercore ISI set a $25.00 price objective on shares of Symantec Corporation and gave the stock a “hold” rating in a research note on Saturday, June 10th. Robert W. Baird reiterated a “hold” rating on shares of Symantec Corporation in a report on Saturday, June 10th. Barclays PLC reissued an “overweight” rating and set a $36.00 target price (down from $38.00) on shares of Symantec Corporation in a research note on Wednesday, August 9th. Zacks Investment Research lowered shares of Symantec Corporation from a “hold” rating to a “sell” rating in a research note on Tuesday. Finally, BidaskClub lowered shares of Symantec Corporation from a “buy” rating to a “hold” rating in a research note on Saturday, August 5th. Two research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and thirteen have given a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $31.54.
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Symantec Corporation (NASDAQ:SYMC) opened at 33.02 on Wednesday. The firm has a 50-day moving average price of $31.23 and a 200 day moving average price of $30.42. Symantec Corporation has a 12 month low of $22.76 and a 12 month high of $34.20. The firm’s market capitalization is $20.23 billion.
Symantec Corporation (NASDAQ:SYMC) last issued its quarterly earnings data on Wednesday, August 2nd. The technology company reported $0.15 EPS for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $1.20 billion. During the same period last year, the business posted $0.29 earnings per share. The firm’s quarterly revenue was up 38.9% on a year-over-year basis. On average, equities analysts forecast that Symantec Corporation will post $1.81 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Wednesday, September 13th. Investors of record on Monday, August 21st were paid a $0.075 dividend. This represents a $0.30 dividend on an annualized basis and a yield of 0.91%. The ex-dividend date of this dividend was Thursday, August 17th. Symantec Corporation’s payout ratio is presently -49.18%.
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.
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