AQR Capital Management LLC lowered its position in Symantec Corporation (NASDAQ:SYMC) by 77.7% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 142,579 shares of the technology company’s stock after selling 496,241 shares during the period. AQR Capital Management LLC’s holdings in Symantec Corporation were worth $4,374,000 as of its most recent SEC filing.
A number of other large investors also recently made changes to their positions in SYMC. Reliance Trust Co. of Delaware bought a new stake in shares of Symantec Corporation during the first quarter worth about $349,000. Hartwell J M Limited Partnership boosted its stake in shares of Symantec Corporation by 9.1% in the first quarter. Hartwell J M Limited Partnership now owns 532,700 shares of the technology company’s stock worth $16,343,000 after buying an additional 44,650 shares during the last quarter. Parametrica Management Ltd bought a new stake in shares of Symantec Corporation during the first quarter worth about $448,000. Spirit of America Management Corp NY boosted its stake in shares of Symantec Corporation by 13.0% in the first quarter. Spirit of America Management Corp NY now owns 23,850 shares of the technology company’s stock worth $732,000 after buying an additional 2,750 shares during the last quarter. Finally, Gulf International Bank UK Ltd boosted its stake in shares of Symantec Corporation by 5.2% in the first quarter. Gulf International Bank UK Ltd now owns 192,984 shares of the technology company’s stock worth $5,920,000 after buying an additional 9,600 shares during the last quarter. 93.40% of the stock is owned by hedge funds and other institutional investors.
Shares of Symantec Corporation (SYMC) traded up 0.99% during mid-day trading on Monday, hitting $28.57. The stock had a trading volume of 7,873,963 shares. The stock’s 50-day moving average price is $29.58 and its 200 day moving average price is $29.80. Symantec Corporation has a 1-year low of $21.98 and a 1-year high of $33.22. The company’s market capitalization is $17.51 billion. Symantec Corporation also saw unusually large options trading on Friday. Traders bought 13,149 put options on the company. This is an increase of approximately 771% compared to the average daily volume of 1,510 put options.
Symantec Corporation (NASDAQ:SYMC) last posted its quarterly earnings results 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 positive return on equity of 10.73% and a negative net margin of 8.68%. The company had revenue of $1.23 billion during the quarter, compared to analysts’ expectations of $1.20 billion. During the same quarter in the previous year, the firm earned $0.29 EPS. Symantec Corporation’s revenue was up 38.9% on a year-over-year basis. On average, analysts predict that Symantec Corporation will post $1.80 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 13th. Stockholders of record on Monday, August 21st will be issued a dividend of $0.075 per share. The ex-dividend date of this dividend is Thursday, August 17th. This represents a $0.30 dividend on an annualized basis and a dividend yield of 1.05%. Symantec Corporation’s dividend payout ratio (DPR) is currently -49.18%.
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A number of brokerages have issued reports on SYMC. Robert W. Baird reaffirmed a “hold” rating on shares of Symantec Corporation in a research report on Thursday, May 11th. First Analysis raised Symantec Corporation from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $28.00 to $40.00 in a research report on Thursday, May 11th. Zacks Investment Research raised Symantec Corporation from a “sell” rating to a “hold” rating in a research report on Tuesday, May 9th. MKM Partners reissued a “neutral” rating and issued a $30.00 price objective (up from $26.00) on shares of Symantec Corporation in a research report on Monday, May 15th. Finally, Jefferies Group LLC increased their price objective on Symantec Corporation from $29.00 to $31.00 and gave the company a “hold” rating in a research report on Thursday, May 11th. One investment analyst has rated the stock with a sell rating, fifteen have issued a hold rating and thirteen have assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $31.00.
In other news, insider Michael David Fey sold 1,348,831 shares of the business’s stock in a transaction on Tuesday, August 8th. The stock was sold at an average price of $28.84, for a total transaction of $38,900,286.04. Following the completion of the transaction, the insider now owns 1,605,757 shares of the company’s stock, valued at approximately $46,310,031.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Scott C. Taylor sold 15,000 shares of the business’s stock in a transaction 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 directly 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 1,497,033 shares of company stock valued at $43,344,571 in the last three months. 0.76% of the stock is owned by insiders.
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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