Symantec Co. (SYMC) Reaches New 52-Week High at $23.87
Symantec Co. (NASDAQ:SYMC)’s share price hit a new 52-week high on Monday . The stock traded as high as $23.87 and last traded at $23.71, with a volume of 4,830,557 shares trading hands. The stock had previously closed at $23.72.
Several equities analysts have recently weighed in on SYMC shares. Topeka Capital Markets dropped their price objective on shares of Symantec from $23.00 to $20.00 and set a “hold” rating on the stock in a research report on Thursday, April 28th. Wunderlich dropped their price objective on shares of Symantec from $25.00 to $19.00 and set a “hold” rating on the stock in a research report on Thursday, April 28th. Raymond James Financial Inc. lowered shares of Symantec from an “outperform” rating to a “market perform” rating in a research report on Thursday, April 28th. Oppenheimer Holdings Inc. reissued a “hold” rating on shares of Symantec in a research report on Thursday, April 28th. Finally, Citigroup Inc. dropped their price objective on shares of Symantec from $19.00 to $17.50 and set a “buy” rating on the stock in a research report on Friday, April 29th. One analyst has rated the stock with a sell rating, fifteen have issued a hold rating and ten have issued a buy rating to the company. Symantec has a consensus rating of “Hold” and a consensus target price of $23.48.
The company has a 50 day moving average of $21.21 and a 200-day moving average of $19.08. The firm has a market cap of $14.55 billion and a price-to-earnings ratio of 6.16.
Symantec (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 Thomson Reuters’ consensus estimate of $0.25 by $0.04. The company earned $884 million during the quarter, compared to the consensus estimate of $876.96 million. During the same quarter last year, the company posted $0.40 earnings per share. The firm’s revenue for the quarter was down 3.1% on a year-over-year basis. Analysts predict that Symantec Co. will post $1.12 earnings per share for the current 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 given a $0.075 dividend. This represents a $0.30 annualized dividend and a dividend yield of 1.26%. The ex-dividend date is Thursday, August 18th.
In related news, Director Suzanne M. Vautrinot sold 3,750 shares of the company’s stock in a transaction that occurred on Wednesday, June 15th. The shares were sold at an average price of $19.00, for a total value of $71,250.00. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CAO Mark S. Garfield sold 11,852 shares of the company’s stock in a transaction that occurred on Tuesday, June 14th. The stock was sold at an average price of $18.76, for a total transaction of $222,343.52. Following the completion of the transaction, the chief accounting officer now owns 68,489 shares in the company, valued at $1,284,853.64. The disclosure for this sale can be found here.
Other hedge funds have recently modified their holdings of the company. Victory Capital Management Inc. raised its stake in shares of Symantec 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 in the last quarter. I.G. Investment Management LTD. raised its stake in Symantec 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 period. Connor Clark & Lunn Investment Management Ltd. raised its stake in Symantec 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 period. BlackRock Advisors LLC raised its stake in shares of Symantec 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. raised its stake in shares of Symantec 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 provides security and information management solutions. The Company operates its business on a global civilian cyber intelligence threat network and tracks various threats across the Internet from mobile devices, endpoints, and servers across the world. It is developing solutions for cloud, threat protection, information protection and cyber security services.
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