BidaskClub upgraded shares of Symantec (NASDAQ:SYMC) from a strong sell rating to a sell rating in a research report released on Thursday morning, BidAskClub reports.

Several other brokerages have also recently weighed in on SYMC. Zacks Investment Research cut Symantec from a buy rating to a hold rating in a report on Wednesday, April 3rd. Mizuho assumed coverage on Symantec in a report on Tuesday, March 26th. They set a neutral rating and a $25.00 price objective for the company. Goldman Sachs Group raised Symantec from a neutral rating to a buy rating and boosted their price objective for the stock from $23.00 to $28.00 in a report on Monday, April 8th. Evercore ISI reissued a hold rating and set a $22.00 price objective on shares of Symantec in a report on Monday, February 4th. Finally, Credit Suisse Group reissued a hold rating and set a $23.00 price objective on shares of Symantec in a report on Friday, February 1st. Two research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and three have given a buy rating to the company. Symantec presently has a consensus rating of Hold and an average target price of $22.13.

Shares of NASDAQ:SYMC opened at $19.85 on Thursday. The stock has a market cap of $12.69 billion, a price-to-earnings ratio of 16.97, a PEG ratio of 2.06 and a beta of 1.09. Symantec has a 1-year low of $17.42 and a 1-year high of $24.77. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.85 and a quick ratio of 1.02.

Symantec (NASDAQ:SYMC) last announced its quarterly earnings data on Thursday, May 9th. The technology company reported $0.39 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.39. The firm had revenue of $1.20 billion during the quarter, compared to analysts’ expectations of $1.21 billion. Symantec had a return on equity of 13.05% and a net margin of 0.59%. The company’s quarterly revenue was down 2.2% compared to the same quarter last year. During the same period in the previous year, the business posted $0.46 EPS. As a group, sell-side analysts expect that Symantec will post 1.26 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 26th. Stockholders of record on Monday, June 10th will be paid a $0.075 dividend. The ex-dividend date of this dividend is Friday, June 7th. This represents a $0.30 dividend on an annualized basis and a dividend yield of 1.51%. Symantec’s dividend payout ratio (DPR) is presently 25.64%.

In other Symantec news, Director Peter A. Feld acquired 650,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 15th. The stock was acquired at an average cost of $19.51 per share, for a total transaction of $12,681,500.00. Following the transaction, the director now owns 22,117 shares of the company’s stock, valued at $431,502.67. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Gregory S. Clark sold 636,209 shares of the business’s stock in a transaction that occurred on Wednesday, April 10th. The shares were sold at an average price of $23.69, for a total value of $15,071,791.21. Following the completion of the transaction, the insider now owns 1,503,837 shares of the company’s stock, valued at $35,625,898.53. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,052,927 shares of company stock valued at $24,563,645. 1.90% of the stock is currently owned by company insiders.

Several institutional investors and hedge funds have recently modified their holdings of the stock. Nordea Investment Management AB boosted its position in Symantec by 240.1% during the 1st quarter. Nordea Investment Management AB now owns 232,163 shares of the technology company’s stock worth $5,338,000 after acquiring an additional 163,905 shares during the last quarter. Redwood Investment Management LLC boosted its position in Symantec by 11.8% during the 1st quarter. Redwood Investment Management LLC now owns 42,951 shares of the technology company’s stock worth $987,000 after acquiring an additional 4,548 shares during the last quarter. FMR LLC boosted its position in Symantec by 14.8% during the 1st quarter. FMR LLC now owns 10,082,097 shares of the technology company’s stock worth $231,787,000 after acquiring an additional 1,302,412 shares during the last quarter. Man Group plc boosted its position in Symantec by 186.3% during the 1st quarter. Man Group plc now owns 2,977,845 shares of the technology company’s stock worth $68,460,000 after acquiring an additional 1,937,797 shares during the last quarter. Finally, C M Bidwell & Associates Ltd. acquired a new position in Symantec during the 1st quarter worth approximately $215,000. Institutional investors and hedge funds own 89.90% of the company’s stock.

Symantec Company Profile

Symantec Corporation provides cybersecurity products, services, and solutions worldwide. The company operates through two segments, Enterprise Security and Consumer Digital Safety. The Enterprise Security segment provides endpoint and information protection products, including endpoint security, advanced threat protection, and information protection solutions and their related support services; and network and Web security products, such as network security, Web security, and cloud security solutions and their related support services.

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Analyst Recommendations for Symantec (NASDAQ:SYMC)

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