Pictet Asset Management Ltd. decreased its position in Symantec Corporation (NASDAQ:SYMC) by 9.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,695,632 shares of the technology company’s stock after selling 282,000 shares during the period. Pictet Asset Management Ltd. owned about 0.44% of Symantec Corporation worth $81,704,000 at the end of the most recent quarter.
Several other hedge funds also recently added to or reduced their stakes in the company. BlackRock Inc. increased its stake in Symantec Corporation by 2,815.1% in the first quarter. BlackRock Inc. now owns 40,975,309 shares of the technology company’s stock worth $1,257,121,000 after buying an additional 39,569,694 shares during the period. FMR LLC increased its stake in Symantec Corporation by 41.9% in the first quarter. FMR LLC now owns 10,420,611 shares of the technology company’s stock worth $319,703,000 after buying an additional 3,076,263 shares during the period. Janus Capital Management LLC increased its stake in Symantec Corporation by 32.2% in the first quarter. Janus Capital Management LLC now owns 7,033,459 shares of the technology company’s stock worth $215,787,000 after buying an additional 1,714,844 shares during the period. Vanguard Group Inc. increased its stake in Symantec Corporation by 2.7% in the first quarter. Vanguard Group Inc. now owns 60,438,125 shares of the technology company’s stock worth $1,854,242,000 after buying an additional 1,611,647 shares during the period. Finally, Jericho Capital Asset Management L.P. bought a new stake in Symantec Corporation during the first quarter worth approximately $38,663,000. Institutional investors own 93.40% of the company’s stock.
Shares of Symantec Corporation (NASDAQ SYMC) traded up 1.46% during midday trading on Friday, reaching $28.45. 7,202,238 shares of the company’s stock were exchanged. The stock’s market cap is $17.43 billion. The company’s 50 day moving average is $29.56 and its 200-day moving average is $29.83. Symantec Corporation has a 12 month low of $22.76 and a 12 month high of $33.22.
Symantec Corporation (NASDAQ:SYMC) last released its earnings results on Wednesday, August 2nd. The technology company reported $0.15 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.12 by $0.03. The firm had revenue of $1.23 billion for the quarter, compared to analysts’ expectations of $1.20 billion. Symantec Corporation had a positive return on equity of 10.73% and a negative net margin of 8.68%. The business’s revenue for the quarter was up 38.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.29 earnings per share. Equities analysts forecast that Symantec Corporation will post $1.81 EPS for the current fiscal year.
The company 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. This represents a $0.30 annualized dividend and a dividend yield of 1.05%. The ex-dividend date of this dividend is Thursday, August 17th. Symantec Corporation’s dividend payout ratio (DPR) is currently -49.18%.
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SYMC has been the topic of a number of research reports. Susquehanna Bancshares Inc initiated coverage on shares of Symantec Corporation in a report on Wednesday, June 7th. They issued a “neutral” rating and a $32.00 target price on the stock. Evercore ISI set a $25.00 target price on shares of Symantec Corporation and gave the stock a “hold” rating in a report on Thursday, August 3rd. Robert W. Baird reiterated a “hold” rating on shares of Symantec Corporation in a report on Thursday, August 3rd. Barclays PLC reiterated an “overweight” rating and issued a $36.00 target price (down from $38.00) on shares of Symantec Corporation in a report on Wednesday, August 9th. Finally, Citigroup Inc. reiterated a “neutral” rating and issued a $31.00 target price (up from $29.00) on shares of Symantec Corporation in a report on Thursday, May 11th. Two equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating and thirteen have given a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $31.00.
In other news, Director Anita M. Sands sold 2,000 shares of the business’s stock in a transaction dated Wednesday, July 12th. The stock was sold at an average price of $30.00, for a total transaction of $60,000.00. Following the sale, the director now directly owns 43,386 shares in the company, valued at $1,301,580. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Suzanne M. Vautrinot sold 2,500 shares of the business’s stock in a transaction dated Monday, July 3rd. The stock was sold at an average price of $28.45, for a total value of $71,125.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,475,916 shares of company stock worth $42,723,358. Company insiders own 0.76% 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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