Symantec Corporation (SYMC) Stake Decreased by New Mexico Educational Retirement Board
New Mexico Educational Retirement Board lowered its stake in Symantec Corporation (NASDAQ:SYMC) by 9.9% during the second quarter, Holdings Channel reports. The fund owned 56,497 shares of the technology company’s stock after selling 6,200 shares during the period. New Mexico Educational Retirement Board’s holdings in Symantec Corporation were worth $1,751,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. raised its position in Symantec Corporation by 2.7% in the first quarter. Vanguard Group Inc. now owns 60,438,125 shares of the technology company’s stock valued at $1,854,242,000 after buying an additional 1,611,647 shares during the last quarter. BlackRock Inc. raised its position in Symantec Corporation by 2,815.1% in the first quarter. BlackRock Inc. now owns 40,975,309 shares of the technology company’s stock valued at $1,257,121,000 after buying an additional 39,569,694 shares during the last quarter. State Street Corp raised its position in Symantec Corporation by 1.7% in the first quarter. State Street Corp now owns 27,978,710 shares of the technology company’s stock valued at $858,386,000 after buying an additional 464,913 shares during the last quarter. FMR LLC raised its position in Symantec Corporation by 41.9% in the first quarter. FMR LLC now owns 10,420,611 shares of the technology company’s stock valued at $319,703,000 after buying an additional 3,076,263 shares during the last quarter. Finally, TIAA CREF Investment Management LLC raised its position in Symantec Corporation by 0.4% in the first quarter. TIAA CREF Investment Management LLC now owns 8,028,955 shares of the technology company’s stock valued at $246,328,000 after buying an additional 29,837 shares during the last quarter. Institutional investors and hedge funds own 93.82% of the company’s stock.
Symantec Corporation (NASDAQ SYMC) opened at 28.29 on Friday. The firm has a 50-day moving average of $29.58 and a 200-day moving average of $29.80. The firm’s market cap is $17.34 billion. Symantec Corporation has a 12-month low of $22.64 and a 12-month high of $33.22.
Symantec Corporation (NASDAQ:SYMC) last issued its quarterly earnings results on Wednesday, August 2nd. The technology company reported $0.15 EPS for the quarter, topping analysts’ consensus estimates of $0.12 by $0.03. Symantec Corporation had a positive return on equity of 10.73% and a negative net margin of 8.68%. The company had revenue of $1.23 billion during the quarter, compared to analyst estimates of $1.20 billion. During the same period in the previous year, the company earned $0.29 earnings per share. The company’s quarterly revenue was up 38.9% compared to the same quarter last year. On average, analysts expect that Symantec Corporation will post $1.80 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 13th. Stockholders of record on Monday, August 21st will be issued a dividend of $0.075 per share. The ex-dividend date of this dividend is Thursday, August 17th. This represents a $0.30 dividend on an annualized basis and a dividend yield of 1.06%. Symantec Corporation’s dividend payout ratio (DPR) is presently -49.18%.
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Several research analysts recently commented on the stock. First Analysis upgraded shares of Symantec Corporation from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $28.00 to $40.00 in a report on Thursday, May 11th. Robert W. Baird restated a “hold” rating on shares of Symantec Corporation in a report on Thursday, May 11th. Zacks Investment Research upgraded shares of Symantec Corporation from a “sell” rating to a “hold” rating in a report on Tuesday, May 9th. MKM Partners restated a “neutral” rating and issued a $30.00 price target (up previously from $26.00) on shares of Symantec Corporation in a report on Monday, May 15th. Finally, Jefferies Group LLC raised their price target on shares of Symantec Corporation from $29.00 to $31.00 and gave the company a “hold” rating in a report on Thursday, May 11th. One analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and thirteen have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $31.00.
In other news, insider Michael David Fey sold 1,348,831 shares of the company’s stock in a transaction that occurred on Tuesday, August 8th. The stock was sold at an average price of $28.84, for a total transaction of $38,900,286.04. Following the completion of the transaction, the insider now directly owns 1,605,757 shares in the company, valued at $46,310,031.88. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Scott C. Taylor sold 13,000 shares of the company’s stock in a transaction that occurred on Monday, May 15th. The stock was sold at an average price of $32.45, for a total value of $421,850.00. Following the transaction, the executive vice president now owns 237,030 shares of the company’s stock, valued at $7,691,623.50. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,537,774 shares of company stock valued at $44,666,616. Corporate insiders own 0.76% of the company’s stock.
Symantec Corporation Company Profile
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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