Martin & Co. Inc. TN Sells 9,845 Shares of Symantec Corporation (SYMC)
Martin & Co. Inc. TN reduced its holdings in shares of Symantec Corporation (NASDAQ:SYMC) by 4.7% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 197,440 shares of the technology company’s stock after selling 9,845 shares during the quarter. Symantec makes up 2.1% of Martin & Co. Inc. TN’s investment portfolio, making the stock its 8th biggest holding. Martin & Co. Inc. TN’s holdings in Symantec were worth $6,478,000 as of its most recent SEC filing.
Several other large investors have also added to or reduced their stakes in SYMC. NGAM Advisors L.P. boosted its position in shares of Symantec by 5.4% during the 2nd quarter. NGAM Advisors L.P. now owns 20,504 shares of the technology company’s stock worth $580,000 after acquiring an additional 1,051 shares in the last quarter. Janney Montgomery Scott LLC boosted its position in shares of Symantec by 1.4% during the 2nd quarter. Janney Montgomery Scott LLC now owns 28,831 shares of the technology company’s stock worth $814,000 after acquiring an additional 395 shares in the last quarter. Bessemer Group Inc. boosted its position in shares of Symantec by 1.2% during the 2nd quarter. Bessemer Group Inc. now owns 9,311 shares of the technology company’s stock worth $263,000 after acquiring an additional 106 shares in the last quarter. Pioneer Investment Management Inc. boosted its position in shares of Symantec by 103.3% during the 2nd quarter. Pioneer Investment Management Inc. now owns 89,526 shares of the technology company’s stock worth $2,529,000 after acquiring an additional 45,483 shares in the last quarter. Finally, Canada Pension Plan Investment Board boosted its position in shares of Symantec by 6.7% during the 2nd quarter. Canada Pension Plan Investment Board now owns 601,659 shares of the technology company’s stock worth $16,997,000 after acquiring an additional 37,900 shares in the last quarter. 95.02% of the stock is owned by institutional investors and hedge funds.
Several research firms have recently weighed in on SYMC. BidaskClub raised Symantec from a “sell” rating to a “hold” rating in a report on Tuesday. Piper Jaffray Companies set a $40.00 target price on Symantec and gave the company a “buy” rating in a report on Sunday, October 15th. Stifel Nicolaus reissued a “hold” rating and issued a $27.00 target price on shares of Symantec in a report on Friday, November 3rd. Oppenheimer reduced their target price on Symantec from $35.00 to $33.00 and set an “outperform” rating for the company in a report on Thursday, November 2nd. Finally, Robert W. Baird reissued a “hold” rating and issued a $32.00 target price on shares of Symantec in a report on Friday, September 8th. Two research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and nine have given a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $32.39.
Shares of Symantec Corporation (NASDAQ SYMC) opened at $28.92 on Wednesday. The company has a debt-to-equity ratio of 1.72, a quick ratio of 1.12 and a current ratio of 1.12. The company has a market capitalization of $17,347.10, a P/E ratio of 44.41, a price-to-earnings-growth ratio of 2.83 and a beta of 1.08. Symantec Corporation has a one year low of $23.77 and a one year high of $34.20.
Symantec (NASDAQ:SYMC) last posted its quarterly earnings data on Wednesday, November 1st. The technology company reported $0.40 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.26 by $0.14. The firm had revenue of $1.28 billion during the quarter, compared to the consensus estimate of $1.27 billion. Symantec had a positive return on equity of 12.33% and a negative net margin of 5.29%. The firm’s revenue was up 25.7% compared to the same quarter last year. During the same period in the prior year, the business earned $0.30 EPS. equities research analysts predict that Symantec Corporation will post 1.05 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 13th. Shareholders of record on Monday, November 20th will be paid a dividend of $0.075 per share. This represents a $0.30 annualized dividend and a yield of 1.04%. The ex-dividend date of this dividend is Friday, November 17th. Symantec’s dividend payout ratio is presently -75.00%.
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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.
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