LS Investment Advisors LLC Has $614,000 Stake in Symantec Co. (SYMC)
LS Investment Advisors LLC lowered its position in Symantec Co. (NASDAQ:SYMC) by 3.3% in the 4th quarter, Holdings Channel reports. The firm owned 32,509 shares of the technology company’s stock after selling 1,125 shares during the period. LS Investment Advisors LLC’s holdings in Symantec were worth $614,000 as of its most recent SEC filing.
Other hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc grew its position in Symantec by 1.4% during the third quarter. Vanguard Group Inc now owns 65,537,473 shares of the technology company’s stock valued at $1,394,637,000 after buying an additional 902,112 shares during the period. BlackRock Inc. grew its position in Symantec by 0.8% during the third quarter. BlackRock Inc. now owns 40,943,273 shares of the technology company’s stock valued at $871,273,000 after buying an additional 314,787 shares during the period. Starboard Value LP bought a new position in Symantec during the third quarter valued at about $521,398,000. Capital International Investors bought a new position in Symantec during the third quarter valued at about $222,769,000. Finally, First Trust Advisors LP grew its position in Symantec by 42.3% during the third quarter. First Trust Advisors LP now owns 8,701,121 shares of the technology company’s stock valued at $185,160,000 after buying an additional 2,584,507 shares during the period. Institutional investors own 87.75% of the company’s stock.
SYMC has been the subject of a number of research reports. BidaskClub upgraded shares of Symantec from a “hold” rating to a “buy” rating in a research report on Saturday, November 17th. Wedbush initiated coverage on shares of Symantec in a research report on Thursday, October 18th. They set a “neutral” rating and a $19.00 target price for the company. Cowen upgraded shares of Symantec from an “underperform” rating to a “market perform” rating in a research report on Tuesday, October 16th. ValuEngine lowered shares of Symantec from a “buy” rating to a “hold” rating in a research report on Tuesday, December 25th. Finally, Evercore ISI restated a “hold” rating and issued a $22.00 price objective on shares of Symantec in a research report on Sunday, November 11th. Two analysts have rated the stock with a sell rating, twenty have given a hold rating and three have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $22.49.
Symantec (NASDAQ:SYMC) last released its quarterly earnings data on Thursday, January 31st. The technology company reported $0.44 EPS for the quarter, beating analysts’ consensus estimates of $0.39 by $0.05. The company had revenue of $1.22 billion during the quarter, compared to analyst estimates of $1.18 billion. Symantec had a negative net margin of 0.86% and a positive return on equity of 13.24%. During the same period last year, the business earned $0.49 earnings per share. Equities research analysts predict that Symantec Co. will post 1.16 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 13th. Investors of record on Tuesday, February 19th will be paid a $0.075 dividend. This represents a $0.30 dividend on an annualized basis and a yield of 1.32%. The ex-dividend date of this dividend is Friday, February 15th. Symantec’s dividend payout ratio is currently 31.58%.
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Symantec Corporation provides cybersecurity products, services, and solutions worldwide. The company operates through two segments, Enterprise Security and Consumer Digital Safety. The Enterprise Security segment provides endpoint and information protection products, including endpoint security, advanced threat protection, and information protection solutions and their related support services; and network and Web security products, such as network security, Web security, and cloud security solutions and their related support services.
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