Symantec (SYMC) Shares Sold by Comerica Bank

Comerica Bank reduced its holdings in Symantec (NASDAQ:SYMC) by 2.8% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 149,232 shares of the technology company’s stock after selling 4,362 shares during the quarter. Comerica Bank’s holdings in Symantec were worth $4,156,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of the company. Bank of Montreal Can grew its position in Symantec by 35.5% during the fourth quarter. Bank of Montreal Can now owns 428,723 shares of the technology company’s stock worth $12,030,000 after buying an additional 112,236 shares in the last quarter. National Pension Service grew its position in Symantec by 2.6% during the fourth quarter. National Pension Service now owns 666,543 shares of the technology company’s stock worth $18,703,000 after buying an additional 16,672 shares in the last quarter. Schwab Charles Investment Management Inc. grew its position in Symantec by 3.2% during the fourth quarter. Schwab Charles Investment Management Inc. now owns 2,322,932 shares of the technology company’s stock worth $65,182,000 after buying an additional 71,267 shares in the last quarter. Oakbrook Investments LLC grew its position in Symantec by 14.6% during the fourth quarter. Oakbrook Investments LLC now owns 58,670 shares of the technology company’s stock worth $1,646,000 after buying an additional 7,490 shares in the last quarter. Finally, State of Alaska Department of Revenue grew its position in Symantec by 104.7% during the fourth quarter. State of Alaska Department of Revenue now owns 96,901 shares of the technology company’s stock worth $2,718,000 after buying an additional 49,570 shares in the last quarter. 95.18% of the stock is currently owned by institutional investors.

Symantec opened at $22.32 on Friday, MarketBeat reports. Symantec has a 1 year low of $21.89 and a 1 year high of $22.52. The company has a debt-to-equity ratio of 0.99, a current ratio of 1.11 and a quick ratio of 1.15. The company has a market capitalization of $13.88 billion, a PE ratio of 23.49, a PEG ratio of 3.13 and a beta of 0.86.

Symantec (NASDAQ:SYMC) last posted its earnings results on Thursday, May 10th. The technology company reported $0.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.39 by $0.07. Symantec had a net margin of 23.98% and a return on equity of 16.24%. The company had revenue of $1.23 billion during the quarter, compared to analysts’ expectations of $1.19 billion. During the same quarter in the previous year, the company posted $0.28 earnings per share. Symantec’s quarterly revenue was up 4.9% compared to the same quarter last year. sell-side analysts anticipate that Symantec will post 0.86 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 20th. Stockholders of record on Friday, June 8th will be paid a $0.075 dividend. This represents a $0.30 dividend on an annualized basis and a dividend yield of 1.34%. The ex-dividend date of this dividend is Thursday, June 7th. Symantec’s dividend payout ratio (DPR) is currently 31.58%.

In other news, EVP Scott C. Taylor sold 41,284 shares of Symantec stock in a transaction that occurred on Monday, April 16th. The shares were sold at an average price of $27.61, for a total value of $1,139,851.24. Following the completion of the transaction, the executive vice president now owns 188,426 shares in the company, valued at $5,202,441.86. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Suzanne M. Vautrinot sold 4,000 shares of Symantec stock in a transaction that occurred on Friday, March 9th. The shares were sold at an average price of $27.72, for a total transaction of $110,880.00. The disclosure for this sale can be found here. Insiders sold 97,183 shares of company stock valued at $2,630,726 in the last quarter. 1.30% of the stock is currently owned by corporate insiders.

A number of equities research analysts recently weighed in on SYMC shares. Zacks Investment Research downgraded Symantec from a “hold” rating to a “strong sell” rating in a research report on Saturday, January 20th. ValuEngine downgraded Symantec from a “sell” rating to a “strong sell” rating in a research report on Saturday, May 12th. Jefferies Group decreased their target price on Symantec to $20.00 and set an “underperform” rating on the stock in a research report on Friday, May 11th. JMP Securities downgraded Symantec from an “outperform” rating to a “market perform” rating in a research report on Friday, April 27th. Finally, Barclays downgraded Symantec from an “overweight” rating to an “equal weight” rating in a research report on Friday, May 11th. Five investment analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and three have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $28.85.

Symantec Profile

Symantec Corporation, together with its subsidiaries, provides cybersecurity solutions worldwide. It operates through two segments, Consumer Digital Safety and Enterprise Security. The Consumer Digital Safety segment provides Norton-branded services that provide multi-layer security services across desktop and mobile operating systems, public Wi-Fi connections, and home networks to defend against online threats to individuals, families, and small businesses.

Institutional Ownership by Quarter for Symantec (NASDAQ:SYMC)

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