Public Employees Retirement System of Ohio Reduces Stake in Symantec Co. (SYMC)
Public Employees Retirement System of Ohio decreased its holdings in shares of Symantec Co. (NASDAQ:SYMC) by 27.5% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 359,614 shares of the technology company’s stock after selling 136,645 shares during the quarter. Public Employees Retirement System of Ohio owned about 0.06% of Symantec worth $10,159,000 as of its most recent SEC filing.
Several other institutional investors have also added to or reduced their stakes in SYMC. Northwestern Mutual Wealth Management Co. grew its holdings in shares of Symantec by 7.9% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 3,982 shares of the technology company’s stock valued at $112,000 after purchasing an additional 292 shares during the period. Sun Life Financial INC lifted its position in shares of Symantec by 44,100.0% during the second quarter. Sun Life Financial INC now owns 4,420 shares of the technology company’s stock worth $125,000 after purchasing an additional 4,410 shares in the last quarter. Harfst & Associates Inc. acquired a new stake in shares of Symantec during the second quarter worth about $127,000. Johnson Financial Group Inc. lifted its position in shares of Symantec by 6.2% during 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 in the last quarter. Finally, Roundview Capital LLC acquired a new stake in shares of Symantec during the second quarter worth about $222,000. 91.54% of the stock is owned by institutional investors and hedge funds.
In related news, Director Anita M. Sands sold 2,000 shares of the firm’s stock in a transaction that occurred on Monday, September 18th. The stock was sold at an average price of $33.51, for a total transaction of $67,020.00. Following the completion of the transaction, the director now owns 37,386 shares in the company, valued at approximately $1,252,804.86. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Scott C. Taylor sold 15,000 shares of the firm’s stock in a transaction that occurred on Monday, July 24th. The stock was sold at an average price of $31.04, for a total value of $465,600.00. Following the transaction, the executive vice president now owns 257,591 shares of the company’s stock, valued at approximately $7,995,624.64. The disclosure for this sale can be found here. Insiders have sold a total of 1,660,816 shares of company stock valued at $48,376,729 in the last 90 days. 1.30% of the stock is owned by corporate insiders.
Several brokerages have recently issued reports on SYMC. Zacks Investment Research raised shares of Symantec from a “strong sell” rating to a “buy” rating and set a $32.00 price target on the stock in a research report on Tuesday, July 11th. Barclays PLC restated an “overweight” rating and set a $36.00 target price (down from $38.00) on shares of Symantec in a research note on Thursday, August 3rd. Evercore ISI set a $25.00 price target on shares of Symantec and gave the company a “hold” rating in a research note on Thursday, August 3rd. Robert W. Baird reiterated a “hold” rating on shares of Symantec in a research note on Thursday, August 3rd. Finally, BidaskClub lowered shares of Symantec from a “buy” rating to a “hold” rating in a research note on Saturday, August 5th. Three research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and ten have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $31.52.
Symantec Co. (NASDAQ:SYMC) opened at 32.52 on Friday. Symantec Co. has a 52 week low of $22.76 and a 52 week high of $34.20. The company’s 50-day moving average price is $32.42 and its 200-day moving average price is $30.58. The company’s market capitalization is $19.93 billion.
Symantec (NASDAQ:SYMC) last posted its earnings results on Wednesday, August 2nd. The technology company reported $0.15 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.12 by $0.03. The business had revenue of $1.23 billion during the quarter, compared to the consensus estimate of $1.20 billion. Symantec had a negative return on equity of 12.83% and a negative net margin of 9.36%. Symantec’s revenue was up 38.9% on a year-over-year basis. During the same quarter last year, the company earned $0.29 EPS. On average, equities analysts forecast that Symantec Co. will post $1.80 EPS for the current fiscal year.
Symantec 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.
Want to see what other hedge funds are holding SYMC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Symantec Co. (NASDAQ:SYMC).
Receive News & Stock Ratings for Symantec Co. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Symantec Co. and related stocks with our FREE daily email newsletter.