Wedbush Securities Inc. Sells 1,661 Shares of Symantec Corporation (SYMC)
Wedbush Securities Inc. cut its position in Symantec Corporation (NASDAQ:SYMC) by 15.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 9,168 shares of the technology company’s stock after selling 1,661 shares during the period. Wedbush Securities Inc.’s holdings in Symantec Corporation were worth $259,000 as of its most recent SEC filing.
A number of other institutional investors have also modified their holdings of the company. IFP Advisors Inc increased 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 during the period. Bessemer Group Inc. increased its position in shares of Symantec Corporation by 1.2% in the second quarter. Bessemer Group Inc. now owns 9,311 shares of the technology company’s stock worth $263,000 after buying an additional 106 shares during the period. Mason Street Advisors LLC increased its position in shares of Symantec Corporation by 0.3% in the first quarter. Mason Street Advisors LLC now owns 85,518 shares of the technology company’s stock worth $2,624,000 after buying an additional 237 shares during the period. Wetherby Asset Management Inc. increased its position in shares of Symantec Corporation by 2.8% in the second quarter. Wetherby Asset Management Inc. now owns 8,885 shares of the technology company’s stock worth $251,000 after buying an additional 246 shares during the period. Finally, Greenwood Capital Associates LLC increased its position in shares of Symantec Corporation by 1.7% in the first quarter. Greenwood Capital Associates LLC now owns 15,210 shares of the technology company’s stock worth $467,000 after buying an additional 255 shares during the period. 93.40% of the stock is owned by institutional investors.
Shares of Symantec Corporation (SYMC) opened at 28.45 on Friday. The firm has a 50-day moving average of $29.56 and a 200-day moving average of $29.83. Symantec Corporation has a 12-month low of $22.76 and a 12-month high of $33.22. The firm’s market cap is $17.43 billion.
Symantec Corporation (NASDAQ:SYMC) last released its quarterly earnings data on Wednesday, August 2nd. The technology company reported $0.15 EPS for the quarter, topping analysts’ consensus estimates of $0.12 by $0.03. The firm had revenue of $1.23 billion for the quarter, compared to the consensus estimate of $1.20 billion. Symantec Corporation had a negative net margin of 8.68% and a positive return on equity of 10.73%. The firm’s revenue was up 38.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.29 earnings per share. On average, equities analysts forecast that Symantec Corporation will post $1.81 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 13th. Investors of record on Monday, August 21st will be issued a dividend of $0.075 per share. This represents a $0.30 dividend on an annualized basis and a yield of 1.05%. The ex-dividend date is Thursday, August 17th. Symantec Corporation’s dividend payout ratio is currently -49.18%.
A number of equities analysts have recently issued reports on SYMC shares. UBS AG downgraded Symantec Corporation from a “buy” rating to a “neutral” rating and upped their price target for the stock from $31.00 to $33.00 in a research report on Thursday, May 18th. Robert W. Baird reaffirmed a “hold” rating on shares of Symantec Corporation in a research report on Saturday, June 10th. Evercore ISI set a $25.00 price target on Symantec Corporation and gave the stock a “hold” rating in a research report on Saturday, June 10th. Zacks Investment Research raised Symantec Corporation from a “strong sell” rating to a “buy” rating and set a $32.00 price target on the stock in a research report on Tuesday, July 11th. Finally, Barclays PLC reaffirmed an “overweight” rating and set a $36.00 price target (down from $38.00) on shares of Symantec Corporation in a research report on Thursday, August 3rd. Two investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating and thirteen have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $31.00.
In other Symantec Corporation news, insider Michael David Fey sold 1,348,831 shares of Symantec Corporation stock in a transaction dated Tuesday, August 8th. The shares were 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 owns 1,605,757 shares in the company, valued at $46,310,031.88. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Scott C. Taylor sold 15,000 shares of Symantec Corporation stock in a transaction dated Monday, July 24th. The stock was sold at an average price of $31.04, for a total transaction of $465,600.00. Following the transaction, the executive vice president now owns 257,591 shares of the company’s stock, valued at approximately $7,995,624.64. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,475,916 shares of company stock worth $42,723,358. 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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