MetLife Investment Advisors LLC lowered its position in shares of Symantec Co. (NASDAQ:SYMC) by 2.7% in the first quarter, according to the company in its most recent filing with the SEC. The firm owned 186,576 shares of the technology company’s stock after selling 5,251 shares during the quarter. MetLife Investment Advisors LLC’s holdings in Symantec were worth $4,823,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently modified their holdings of SYMC. Optimum Investment Advisors acquired a new stake in Symantec during the 1st quarter worth about $129,000. Dupont Capital Management Corp lifted its position in Symantec by 117.9% during the 1st quarter. Dupont Capital Management Corp now owns 5,265 shares of the technology company’s stock worth $136,000 after acquiring an additional 2,849 shares during the period. Delpha Capital Management LLC acquired a new stake in Symantec during the 4th quarter worth about $162,000. Intact Investment Management Inc. acquired a new stake in Symantec during the 1st quarter worth about $214,000. Finally, Parametrica Management Ltd acquired a new stake in Symantec during the 1st quarter worth about $221,000. 94.53% of the stock is owned by institutional investors.
In related news, EVP Scott C. Taylor sold 41,284 shares of Symantec stock in a transaction dated Monday, April 16th. The stock was sold at an average price of $27.61, for a total value of $1,139,851.24. Following the completion of the transaction, the executive vice president now owns 188,426 shares in the company, valued at approximately $5,202,441.86. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 1.30% of the stock is owned by insiders.
Symantec (NASDAQ:SYMC) last announced its quarterly earnings results on Thursday, May 10th. The technology company reported $0.46 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.39 by $0.07. Symantec had a return on equity of 16.24% and a net margin of 23.98%. The firm had revenue of $1.23 billion during the quarter, compared to analyst estimates of $1.19 billion. During the same quarter in the previous year, the business earned $0.28 EPS. Symantec’s revenue for the quarter was up 4.9% compared to the same quarter last year. sell-side analysts expect that Symantec Co. will post 0.86 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 20th. Investors of record on Friday, June 8th will be paid a $0.075 dividend. The ex-dividend date of this dividend is Thursday, June 7th. This represents a $0.30 annualized dividend and a dividend yield of 1.42%. Symantec’s dividend payout ratio is presently 31.58%.
SYMC has been the subject of several analyst reports. Jefferies Financial Group decreased their price objective on Symantec to $20.00 and set an “underperform” rating for the company in a report on Friday, May 11th. Goldman Sachs Group cut Symantec from a “buy” rating to a “neutral” rating in a report on Wednesday, May 16th. Zacks Investment Research cut Symantec from a “hold” rating to a “sell” rating in a report on Tuesday, April 3rd. BTIG Research cut Symantec from a “buy” rating to a “neutral” rating in a report on Friday, May 11th. Finally, JMP Securities cut Symantec from an “outperform” rating to a “market perform” rating in a report on Friday, April 27th. Five equities research analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and three have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $28.05.
Symantec Corporation, together with its subsidiaries, provides cybersecurity solutions worldwide. It operates through two segments, Consumer Digital Safety and Enterprise Security. The Consumer Digital Safety segment provides Norton-branded services that provide multi-layer security services across desktop and mobile operating systems, public Wi-Fi connections, and home networks to defend against online threats to individuals, families, and small businesses.
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