Hartwell J M Limited Partnership lowered its stake in Symantec Corporation (NASDAQ:SYMC) by 9.4% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 506,100 shares of the technology company’s stock after selling 52,350 shares during the quarter. Symantec accounts for 2.7% of Hartwell J M Limited Partnership’s portfolio, making the stock its 14th biggest position. Hartwell J M Limited Partnership owned 0.08% of Symantec worth $14,201,000 as of its most recent filing with the SEC.
A number of other hedge funds also recently made changes to their positions in the business. Sun Life Financial INC raised its holdings in shares of Symantec by 44,100.0% during the second quarter. Sun Life Financial INC now owns 4,420 shares of the technology company’s stock valued at $125,000 after acquiring an additional 4,410 shares in the last quarter. Harfst & Associates Inc. bought a new position in shares of Symantec during the second quarter valued at approximately $127,000. United Bank Inc. bought a new position in shares of Symantec during the third quarter valued at approximately $200,000. Roundview Capital LLC bought a new position in shares of Symantec during the second quarter valued at approximately $222,000. Finally, Jaffetilchin Investment Partners LLC bought a new position in shares of Symantec during the third quarter valued at approximately $225,000. Hedge funds and other institutional investors own 94.77% of the company’s stock.
Symantec Corporation (SYMC) traded up $0.21 during midday trading on Monday, hitting $27.46. The stock had a trading volume of 7,871,500 shares, compared to its average volume of 7,387,393. Symantec Corporation has a 52-week low of $25.65 and a 52-week high of $34.20. The stock has a market capitalization of $16,770.00, a PE ratio of -47.34, a P/E/G ratio of 2.78 and a beta of 1.07. The company has a debt-to-equity ratio of 1.72, a quick ratio of 1.12 and a current ratio of 1.12.
In related news, CFO Nicholas R. Noviello sold 375,000 shares of the stock in a transaction on Monday, November 6th. The stock was sold at an average price of $29.38, for a total transaction of $11,017,500.00. Following the sale, the chief financial officer now directly owns 565,319 shares of the company’s stock, valued at $16,609,072.22. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Francis C. Rosch sold 57,103 shares of the stock in a transaction on Wednesday, December 6th. The shares were sold at an average price of $27.42, for a total value of $1,565,764.26. Following the sale, the executive vice president now directly owns 325,026 shares in the company, valued at $8,912,212.92. The disclosure for this sale can be found here. Corporate insiders own 1.30% of the company’s stock.
A number of equities analysts recently commented on SYMC shares. Morgan Stanley decreased their target price on Symantec from $34.00 to $31.00 and set an “equal weight” rating for the company in a report on Friday, November 3rd. CIBC restated an “outperform” rating and set a $33.00 target price (down previously from $35.00) on shares of Symantec in a report on Thursday, November 2nd. Barclays reiterated a “buy” rating and issued a $36.00 price objective on shares of Symantec in a report on Thursday, November 2nd. Oppenheimer decreased their price objective on Symantec from $35.00 to $33.00 and set an “outperform” rating for the company in a report on Thursday, November 2nd. Finally, Zacks Investment Research downgraded Symantec from a “hold” rating to a “sell” rating in a report on Monday, October 9th. Four research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and eight have assigned a buy rating to the stock. Symantec currently has a consensus rating of “Hold” and an average price target of $31.96.
Symantec Corporation is a United States-based cyber security company. The Company offers products under categories, such as threat protection, information protection and cyber security services. 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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