Symantec Corporation (SYMC) Shares Bought by Credit Suisse AG
Credit Suisse AG raised its position in Symantec Corporation (NASDAQ:SYMC) by 11.2% during the first quarter, Holdings Channel reports. The institutional investor owned 1,714,241 shares of the technology company’s stock after buying an additional 173,000 shares during the period. Credit Suisse AG’s holdings in Symantec Corporation were worth $52,594,000 as of its most recent SEC filing.
A number of other institutional investors have also modified their holdings of the company. Advisory Services Network LLC acquired a new position in shares of Symantec Corporation during the first quarter worth about $142,000. Johnson Financial Group Inc. boosted its position in shares of Symantec Corporation by 8.0% in the first quarter. Johnson Financial Group Inc. now owns 5,271 shares of the technology company’s stock worth $162,000 after buying an additional 390 shares in the last quarter. IFP Advisors Inc boosted its position in shares of Symantec Corporation by 0.3% in the first quarter. IFP Advisors Inc now owns 6,283 shares of the technology company’s stock worth $193,000 after buying an additional 19 shares in the last quarter. Bessemer Group Inc. boosted its position in shares of Symantec Corporation by 1,277.5% in the fourth quarter. Bessemer Group Inc. now owns 6,612 shares of the technology company’s stock worth $158,000 after buying an additional 6,132 shares in the last quarter. Finally, American Asset Management Inc. acquired a new position in shares of Symantec Corporation during the first quarter worth about $207,000. 94.11% of the stock is currently owned by hedge funds and other institutional investors.
Symantec Corporation (SYMC) traded up 0.56% on Monday, reaching $28.69. 702,385 shares of the company’s stock traded hands. The firm’s market capitalization is $17.45 billion. Symantec Corporation has a 52-week low of $19.79 and a 52-week high of $33.22. The firm’s 50 day moving average price is $30.38 and its 200 day moving average price is $28.67.
Symantec Corporation (NASDAQ:SYMC) last issued its quarterly earnings data on Wednesday, May 10th. The technology company reported $0.28 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.28. Symantec Corporation had a negative net margin of 2.64% and a positive return on equity of 11.06%. The company had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $1.18 billion. During the same quarter in the prior year, the firm earned $0.22 earnings per share. The firm’s revenue was up 34.7% compared to the same quarter last year. On average, analysts predict that Symantec Corporation will post $1.79 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 21st. Stockholders of record on Wednesday, June 7th were given a dividend of $0.075 per share. This represents a $0.30 annualized dividend and a dividend yield of 1.05%. The ex-dividend date was Monday, June 5th. Symantec Corporation’s dividend payout ratio is -176.47%.
A number of equities analysts have issued reports on the stock. Robert W. Baird reissued a “hold” rating on shares of Symantec Corporation in a report on Saturday, June 10th. Evercore ISI set a $25.00 target price on shares of Symantec Corporation and gave the stock a “hold” rating in a report on Saturday, June 10th. BidaskClub cut Symantec Corporation from a “buy” rating to a “hold” rating in a report on Thursday, June 15th. Oppenheimer Holdings, Inc. reaffirmed an “outperform” rating and set a $33.00 price target (up previously from $32.00) on shares of Symantec Corporation in a report on Friday, June 9th. Finally, Goldman Sachs Group, Inc. (The) reaffirmed a “buy” rating and set a $36.00 price target on shares of Symantec Corporation in a report on Friday, June 9th. Two equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and twelve have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $30.48.
In other news, Director Anita M. Sands sold 2,000 shares of the stock in a transaction on Monday, April 17th. The shares were sold at an average price of $30.22, for a total transaction of $60,440.00. Following the completion of the sale, the director now owns 37,231 shares of the company’s stock, valued at $1,125,120.82. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Amy L. Cappellanti-Wolf sold 3,741 shares of the stock in a transaction on Monday, June 5th. The stock was sold at an average price of $29.91, for a total transaction of $111,893.31. Following the sale, the senior vice president now directly owns 88,774 shares of the company’s stock, valued at approximately $2,655,230.34. The disclosure for this sale can be found here. Insiders have sold 159,909 shares of company stock valued at $4,886,750 in the last three months. 0.76% of the stock is owned by insiders.
About Symantec Corporation
Symantec Corporation is a United States-based cyber security company. The Company offers products under categories, such as threat protection, information protection, cyber security services and Website security. 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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