Symantec Corp. (SYMC) Stock Price Up 2.4%
Shares of Symantec Corp. (NASDAQ:SYMC) rose 2.4% during trading on Friday . The stock traded as high as $23.67 and last traded at $23.66, with a volume of 5,213,167 shares traded. The stock had previously closed at $23.11.
SYMC has been the subject of several recent analyst reports. Morgan Stanley restated a “buy” rating and issued a $22.00 target price on shares of Symantec Corp. in a research note on Friday, April 29th. Citigroup Inc. reduced their target price on shares of Symantec Corp. from $19.00 to $17.50 and set a “buy” rating for the company in a research note on Friday, April 29th. BTIG Research upgraded shares of Symantec Corp. from a “neutral” rating to a “buy” rating and set a $23.00 target price for the company in a research note on Monday, June 13th. JMP Securities restated a “buy” rating on shares of Symantec Corp. in a research note on Wednesday, June 15th. Finally, Royal Bank Of Canada restated a “buy” rating on shares of Symantec Corp. in a research note on Monday, June 20th. One equities research analyst has rated the stock with a sell rating, fifteen have given a hold rating and ten have assigned a buy rating to the company’s stock. Symantec Corp. has an average rating of “Hold” and a consensus target price of $23.48.
The stock has a 50 day moving average of $21.21 and a 200-day moving average of $19.08. The company has a market cap of $14.60 billion and a price-to-earnings ratio of 6.19.
Symantec Corp. (NASDAQ:SYMC) last posted its quarterly earnings data on Thursday, August 4th. The company reported $0.29 earnings per share for the quarter, topping the consensus estimate of $0.25 by $0.04. The company earned $884 million during the quarter, compared to analyst estimates of $876.96 million. During the same period in the previous year, the company earned $0.40 EPS. The business’s revenue for the quarter was down 3.1% compared to the same quarter last year. Equities analysts anticipate that Symantec Corp. will post $1.12 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 14th. Investors of record on Monday, August 22nd will be issued a $0.075 dividend. This represents a $0.30 annualized dividend and a yield of 1.26%. The ex-dividend date is Thursday, August 18th.
In related news, CAO Mark S. Garfield sold 11,852 shares of the company’s stock in a transaction dated Tuesday, June 14th. The shares were sold at an average price of $18.76, for a total value of $222,343.52. Following the completion of the sale, the chief accounting officer now owns 68,489 shares of the company’s stock, valued at $1,284,853.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Suzanne M. Vautrinot sold 3,750 shares of the company’s stock in a transaction dated Monday, June 20th. The stock was sold at an average price of $20.60, for a total transaction of $77,250.00. The disclosure for this sale can be found here.
Other large investors recently bought and sold shares of the company. Victory Capital Management Inc. increased its stake in Symantec Corp. by 32.5% in the fourth quarter. Victory Capital Management Inc. now owns 96,795 shares of the company’s stock valued at $2,033,000 after buying an additional 23,725 shares during the last quarter. I.G. Investment Management LTD. increased its stake in shares of Symantec Corp. by 4.0% in the fourth quarter. I.G. Investment Management LTD. now owns 404,210 shares of the company’s stock worth $8,488,000 after buying an additional 15,500 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its stake in shares of Symantec Corp. by 33.2% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 456,529 shares of the company’s stock worth $9,587,000 after buying an additional 113,900 shares during the last quarter. BlackRock Advisors LLC increased its stake in shares of Symantec Corp. by 27.9% in the fourth quarter. BlackRock Advisors LLC now owns 734,592 shares of the company’s stock worth $15,427,000 after buying an additional 160,350 shares during the last quarter. Finally, Principal Financial Group Inc. increased its stake in shares of Symantec Corp. by 0.6% in the fourth quarter. Principal Financial Group Inc. now owns 1,238,303 shares of the company’s stock worth $26,004,000 after buying an additional 7,497 shares during the last quarter.
Symantec Corporation is a United States-based company, which offers security, backup and availability solutions. The Company’s segments include Consumer Security and Enterprise Security. Its Consumer Security segment focuses on customers to be productive and protected at home and at work. Its Norton-branded services provide multi-layer security and identity protection on desktop and mobile operating systems to defend against online threats to individuals, families and small businesses.
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