Cheyne Capital Management UK LLP bought a new stake in shares of Symantec Corporation (NASDAQ:SYMC) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 70,000 shares of the technology company’s stock, valued at approximately $2,148,000. Symantec Corporation makes up 0.8% of Cheyne Capital Management UK LLP’s holdings, making the stock its 16th largest position.
A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. State Street Corp raised its position in shares of Symantec Corporation by 4.2% in the fourth quarter. State Street Corp now owns 27,513,797 shares of the technology company’s stock worth $657,312,000 after buying an additional 1,108,641 shares in the last quarter. Jackson Square Partners LLC purchased a new position in shares of Symantec Corporation during the third quarter worth $565,123,000. Lone Pine Capital LLC purchased a new position in shares of Symantec Corporation during the fourth quarter worth $317,066,000. Capital World Investors purchased a new position in shares of Symantec Corporation during the third quarter worth $241,211,000. Finally, Dodge & Cox purchased a new position in shares of Symantec Corporation during the fourth quarter worth $180,155,000. 94.09% of the stock is currently owned by institutional investors.
Symantec Corporation (NASDAQ:SYMC) traded up 0.14% during midday trading on Friday, reaching $28.45. The company’s stock had a trading volume of 11,774,619 shares. The stock’s market capitalization is $17.30 billion. Symantec Corporation has a 52 week low of $19.87 and a 52 week high of $33.22. The firm’s 50-day moving average price is $30.56 and its 200-day moving average price is $28.54.
Symantec Corporation (NASDAQ:SYMC) last posted its quarterly earnings data on Wednesday, May 10th. The technology company reported $0.28 EPS for the quarter, meeting the Zacks’ 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 business had revenue of $1.18 billion for the quarter, compared to analyst estimates of $1.18 billion. During the same quarter last year, the business earned $0.22 earnings per share. The business’s revenue for the quarter was up 34.7% on a year-over-year basis. On average, analysts anticipate that Symantec Corporation will post $1.79 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 21st. Shareholders of record on Wednesday, June 7th will be given a $0.075 dividend. The ex-dividend date of this dividend is Monday, June 5th. This represents a $0.30 annualized dividend and a yield of 1.05%. Symantec Corporation’s dividend payout ratio (DPR) is -176.47%.
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A number of research analysts have recently weighed in on SYMC shares. Wunderlich increased their price objective on Symantec Corporation from $30.00 to $32.00 and gave the company a “buy” rating in a report on Monday, February 27th. Morgan Stanley raised their target price on Symantec Corporation from $33.00 to $37.00 and gave the stock an “overweight” rating in a report on Wednesday, March 22nd. OTR Global raised Symantec Corporation to a “positive” rating in a report on Friday, April 21st. Wells Fargo & Company reaffirmed a “market perform” rating on shares of Symantec Corporation in a report on Friday, April 7th. Finally, Oppenheimer Holdings, Inc. reaffirmed an “outperform” rating and set a $32.00 target price on shares of Symantec Corporation in a report on Friday, March 3rd. Two equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and twelve 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 $30.48.
In other Symantec Corporation news, Director Suzanne M. Vautrinot sold 2,500 shares of Symantec Corporation stock in a transaction that occurred on Monday, April 3rd. The shares were sold at an average price of $30.69, for a total value of $76,725.00. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Francis C. Rosch sold 47,344 shares of Symantec Corporation stock in a transaction that occurred on Tuesday, June 6th. The stock was sold at an average price of $30.18, for a total transaction of $1,428,841.92. Following the completion of the transaction, the executive vice president now owns 193,054 shares in the company, valued at approximately $5,826,369.72. The disclosure for this sale can be found here. In the last 90 days, insiders sold 159,909 shares of company stock worth $4,886,750. 0.76% of the stock is currently owned by company 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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