Symantec Corporation (SYMC) CFO Nicholas R. Noviello Sells 375,000 Shares of Stock
Symantec Corporation (NASDAQ:SYMC) CFO Nicholas R. Noviello sold 375,000 shares of Symantec Corporation stock in a transaction dated Monday, November 6th. The shares were sold at an average price of $29.38, for a total value of $11,017,500.00. Following the completion of the sale, the chief financial officer now directly owns 565,319 shares in the company, valued at approximately $16,609,072.22. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.
Nicholas R. Noviello also recently made the following trade(s):
- On Monday, August 28th, Nicholas R. Noviello sold 14,925 shares of Symantec Corporation stock. The shares were sold at an average price of $30.00, for a total value of $447,750.00.
Shares of Symantec Corporation (SYMC) traded down $0.29 during mid-day trading on Thursday, hitting $28.74. The company had a trading volume of 2,739,048 shares, compared to its average volume of 5,972,934. The company has a current ratio of 1.12, a quick ratio of 1.02 and a debt-to-equity ratio of 1.72. The company has a market capitalization of $17,781.09, a PE ratio of 45.52, a P/E/G ratio of 2.43 and a beta of 1.13. Symantec Corporation has a fifty-two week low of $23.20 and a fifty-two week high of $34.20.
Symantec Corporation (NASDAQ:SYMC) last issued its quarterly earnings results on Wednesday, November 1st. The technology company reported $0.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.26 by $0.14. The business had revenue of $1.28 billion during the quarter, compared to analysts’ expectations of $1.27 billion. Symantec Corporation had a positive return on equity of 12.33% and a negative net margin of 5.29%. The firm’s revenue for the quarter was up 25.7% compared to the same quarter last year. During the same period in the previous year, the company posted $0.30 earnings per share. equities research analysts predict that Symantec Corporation will post 1.05 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 13th. Investors of record on Monday, November 20th will be paid a $0.075 dividend. This represents a $0.30 annualized dividend and a dividend yield of 1.04%. The ex-dividend date is Friday, November 17th. Symantec Corporation’s dividend payout ratio (DPR) is currently -75.00%.
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A number of analysts recently issued reports on the company. Standpoint Research downgraded Symantec Corporation from a “buy” rating to a “hold” rating in a research report on Monday, October 9th. Zacks Investment Research downgraded Symantec Corporation from a “hold” rating to a “sell” rating in a research report on Monday, October 9th. Cowen and Company downgraded Symantec Corporation from a “market perform” rating to an “underperform” rating and set a $31.00 target price on the stock. in a research report on Monday, October 9th. Piper Jaffray Companies reaffirmed a “buy” rating and issued a $40.00 target price on shares of Symantec Corporation in a research report on Tuesday, September 12th. Finally, Morgan Stanley downgraded Symantec Corporation from an “overweight” rating to an “equal weight” rating and lowered their target price for the company from $37.00 to $34.00 in a research report on Tuesday, October 10th. Two analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and ten have assigned a buy rating to the stock. Symantec Corporation has a consensus rating of “Hold” and a consensus target price of $32.39.
Hedge funds have recently modified their holdings of the stock. Northwestern Mutual Wealth Management Co. boosted its stake in shares of Symantec Corporation 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 buying an additional 292 shares during the period. Sun Life Financial INC boosted its stake in shares of Symantec Corporation by 44,100.0% in the second quarter. Sun Life Financial INC now owns 4,420 shares of the technology company’s stock valued at $125,000 after buying an additional 4,410 shares during the period. Harfst & Associates Inc. bought a new stake in shares of Symantec Corporation in the second quarter valued at approximately $127,000. Johnson Financial Group Inc. boosted its stake 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 valued at $158,000 after buying an additional 325 shares during the period. Finally, United Bank Inc. bought a new stake in shares of Symantec Corporation in the third quarter valued at approximately $200,000. Institutional investors and hedge funds own 91.54% of the company’s stock.
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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