12,200 Shares in Symantec Corporation (NASDAQ:SYMC) Acquired by New England Research & Management Inc.

New England Research & Management Inc. purchased a new position in Symantec Corporation (NASDAQ:SYMC) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 12,200 shares of the technology company’s stock, valued at approximately $345,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of SYMC. Parametrica Management Ltd purchased a new position in shares of Symantec Corporation during the first quarter worth about $448,000. Spirit of America Management Corp NY increased its position in shares of Symantec Corporation by 13.0% in the first quarter. Spirit of America Management Corp NY now owns 23,850 shares of the technology company’s stock valued at $732,000 after buying an additional 2,750 shares during the last quarter. Gulf International Bank UK Ltd increased its position in shares of Symantec Corporation by 5.2% in the first quarter. Gulf International Bank UK Ltd now owns 192,984 shares of the technology company’s stock valued at $5,920,000 after buying an additional 9,600 shares during the last quarter. Charter Trust Co. increased its position in shares of Symantec Corporation by 13.1% in the first quarter. Charter Trust Co. now owns 37,235 shares of the technology company’s stock valued at $1,143,000 after buying an additional 4,326 shares during the last quarter. Finally, Chevy Chase Trust Holdings Inc. increased its position in shares of Symantec Corporation by 2.2% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 537,085 shares of the technology company’s stock valued at $16,478,000 after buying an additional 11,350 shares during the last quarter. Institutional investors and hedge funds own 93.99% of the company’s stock.

Shares of Symantec Corporation (NASDAQ SYMC) opened at 29.01 on Wednesday. The firm’s market cap is $17.65 billion. Symantec Corporation has a 12-month low of $20.06 and a 12-month high of $33.22. The stock has a 50 day moving average price of $29.63 and a 200 day moving average price of $28.82.

Symantec Corporation (NASDAQ:SYMC) last announced its quarterly earnings results 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 positive return on equity of 11.06% and a negative net margin of 2.64%. The business 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 company posted $0.22 earnings per share. Symantec Corporation’s revenue was up 34.7% compared to the same quarter last year. On average, equities analysts expect that Symantec Corporation will post $1.79 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 21st. Shareholders of record on Wednesday, June 7th were given a $0.075 dividend. The ex-dividend date of this dividend was Monday, June 5th. This represents a $0.30 annualized dividend and a yield of 1.03%. Symantec Corporation’s dividend payout ratio is currently -176.47%.

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A number of research firms have weighed in on SYMC. Morgan Stanley increased their price target on shares of Symantec Corporation from $33.00 to $37.00 and gave the stock an “overweight” rating in a research note on Wednesday, March 22nd. OTR Global raised shares of Symantec Corporation to a “positive” rating in a report on Friday, April 21st. Wells Fargo & Company restated a “market perform” rating on shares of Symantec Corporation in a research report on Friday, April 7th. Standpoint Research upgraded shares of Symantec Corporation from a “hold” rating to a “buy” rating in a research report on Thursday, June 29th. Finally, Barclays PLC upgraded shares of Symantec Corporation from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $34.00 to $38.00 in a research report on Tuesday, May 30th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating and fourteen have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $30.70.

In related news, SVP Amy L. Cappellanti-Wolf sold 3,741 shares of the stock in a transaction dated 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 owns 88,774 shares of the company’s stock, valued at approximately $2,655,230.34. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Mark S. Garfield sold 18,069 shares of the stock in a transaction dated Tuesday, May 23rd. The stock was sold at an average price of $29.39, for a total value of $531,047.91. Following the sale, the chief accounting officer now directly owns 92,754 shares in the company, valued at approximately $2,726,040.06. The disclosure for this sale can be found here. In the last three months, insiders sold 159,909 shares of company stock worth $4,881,150. 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.

Institutional Ownership by Quarter for Symantec Corporation (NASDAQ:SYMC)

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