Daiwa Securities Group Inc. Reduces Stake in Symantec Corporation (SYMC)

Daiwa Securities Group Inc. lowered its stake in Symantec Corporation (NASDAQ:SYMC) by 58.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 22,695 shares of the technology company’s stock after selling 31,688 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Symantec were worth $637,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of SYMC. Raymond James Financial Services Advisors Inc. lifted its holdings in shares of Symantec by 37.4% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 26,235 shares of the technology company’s stock worth $741,000 after acquiring an additional 7,136 shares during the last quarter. Shell Asset Management Co. lifted its holdings in shares of Symantec by 185.6% in the third quarter. Shell Asset Management Co. now owns 107,369 shares of the technology company’s stock worth $2,524,000 after acquiring an additional 69,773 shares during the last quarter. Oakbrook Investments LLC lifted its holdings in shares of Symantec by 99.7% in the third quarter. Oakbrook Investments LLC now owns 51,180 shares of the technology company’s stock worth $1,679,000 after acquiring an additional 25,550 shares during the last quarter. Whittier Trust Co. lifted its holdings in shares of Symantec by 192.1% in the third quarter. Whittier Trust Co. now owns 7,460 shares of the technology company’s stock worth $245,000 after acquiring an additional 4,906 shares during the last quarter. Finally, Strs Ohio lifted its holdings in shares of Symantec by 3.5% in the third quarter. Strs Ohio now owns 47,434 shares of the technology company’s stock worth $1,556,000 after acquiring an additional 1,619 shares during the last quarter. 94.40% of the stock is owned by hedge funds and other institutional investors.

Several research analysts have recently issued reports on SYMC shares. BidaskClub downgraded Symantec from a “sell” rating to a “strong sell” rating in a research note on Saturday, January 13th. Morgan Stanley lowered their price objective on Symantec from $34.00 to $31.00 and set an “equal weight” rating for the company in a research note on Friday, November 3rd. Credit Suisse Group downgraded Symantec from an “outperform” rating to a “neutral” rating and lowered their price objective for the company from $36.00 to $30.00 in a research note on Monday, January 22nd. CIBC reaffirmed an “outperform” rating and issued a $33.00 price objective (down previously from $35.00) on shares of Symantec in a research note on Thursday, November 2nd. Finally, Zacks Investment Research raised Symantec from a “sell” rating to a “hold” rating in a research note on Tuesday, January 2nd. Four analysts have rated the stock with a sell rating, sixteen have given a hold rating and eight have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $30.92.

In other Symantec news, EVP Francis C. Rosch sold 57,103 shares of the stock in a transaction that occurred on Wednesday, December 6th. The shares were sold at an average price of $27.42, for a total transaction of $1,565,764.26. Following the completion of the sale, the executive vice president now owns 325,026 shares of the company’s stock, valued at approximately $8,912,212.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.30% of the company’s stock.

Shares of Symantec Corporation (NASDAQ:SYMC) opened at $27.55 on Friday. The firm has a market cap of $16,990.00, a P/E ratio of 105.96, a price-to-earnings-growth ratio of 3.17 and a beta of 0.89. The company has a current ratio of 1.15, a quick ratio of 1.15 and a debt-to-equity ratio of 1.13. Symantec Corporation has a 52-week low of $24.94 and a 52-week high of $34.20.

Symantec (NASDAQ:SYMC) last released its earnings results on Wednesday, January 31st. The technology company reported $0.49 earnings per share for the quarter, beating analysts’ consensus estimates of $0.44 by $0.05. The business had revenue of $1.23 billion during the quarter, compared to the consensus estimate of $1.27 billion. Symantec had a net margin of 22.24% and a return on equity of 14.26%. The company’s revenue for the quarter was up 13.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.32 EPS. equities research analysts forecast that Symantec Corporation will post 0.99 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 14th. Shareholders of record on Tuesday, February 20th will be given a dividend of $0.075 per share. This represents a $0.30 dividend on an annualized basis and a yield of 1.09%. The ex-dividend date is Friday, February 16th. Symantec’s dividend payout ratio is presently 115.38%.

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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 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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Institutional Ownership by Quarter for Symantec (NASDAQ:SYMC)

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