MUFG Americas Holdings Corp Grows Holdings in Symantec Co. (SYMC)

MUFG Americas Holdings Corp raised its stake in Symantec Co. (NASDAQ:SYMC) by 38.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 18,092 shares of the technology company’s stock after purchasing an additional 4,999 shares during the quarter. MUFG Americas Holdings Corp’s holdings in Symantec were worth $385,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the business. BlackRock Inc. raised its position in Symantec by 0.8% in the third quarter. BlackRock Inc. now owns 40,943,273 shares of the technology company’s stock valued at $871,273,000 after purchasing an additional 314,787 shares during the period. Starboard Value LP purchased a new position in Symantec in the third quarter valued at about $521,398,000. Capital International Investors purchased a new position in Symantec in the third quarter valued at about $222,769,000. Morgan Stanley raised its position in Symantec by 154.9% in the second quarter. Morgan Stanley now owns 9,064,682 shares of the technology company’s stock valued at $187,185,000 after purchasing an additional 5,508,428 shares during the period. Finally, First Trust Advisors LP raised its position in Symantec by 42.3% in the third quarter. First Trust Advisors LP now owns 8,701,121 shares of the technology company’s stock valued at $185,160,000 after purchasing an additional 2,584,507 shares during the period. 87.83% of the stock is currently owned by institutional investors.

Shares of Symantec stock opened at $21.57 on Friday. The company has a debt-to-equity ratio of 0.75, a current ratio of 1.00 and a quick ratio of 1.00. The stock has a market capitalization of $14.36 billion, a P/E ratio of 22.71, a PEG ratio of 2.86 and a beta of 0.96. Symantec Co. has a fifty-two week low of $17.49 and a fifty-two week high of $29.73.

Symantec (NASDAQ:SYMC) last announced its quarterly earnings data on Thursday, November 1st. The technology company reported $0.42 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.33 by $0.09. The firm had revenue of $1.18 billion during the quarter, compared to analyst estimates of $1.14 billion. Symantec had a return on equity of 13.99% and a net margin of 25.95%. Symantec’s quarterly revenue was down 7.2% on a year-over-year basis. During the same period in the previous year, the company earned $0.40 earnings per share. Equities research analysts anticipate that Symantec Co. will post 1 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 12th. Investors of record on Monday, November 19th were issued a $0.075 dividend. This represents a $0.30 annualized dividend and a yield of 1.39%. The ex-dividend date was Friday, November 16th. Symantec’s dividend payout ratio is currently 31.58%.

SYMC has been the topic of several research reports. BidaskClub raised Symantec from a “sell” rating to a “hold” rating in a research report on Tuesday, August 21st. UBS Group raised Symantec from a “neutral” rating to a “positive” rating in a research report on Tuesday, August 21st. Susquehanna Bancshares raised Symantec from a “neutral” rating to a “positive” rating and lifted their target price for the stock from $21.00 to $23.00 in a research report on Tuesday, August 21st. Evercore ISI reaffirmed a “hold” rating and set a $22.00 target price on shares of Symantec in a research report on Monday, September 17th. Finally, ValuEngine raised Symantec from a “sell” rating to a “hold” rating in a research report on Tuesday, September 18th. Three analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and five have given a buy rating to the stock. Symantec has an average rating of “Hold” and a consensus target price of $23.11.

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About Symantec

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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Institutional Ownership by Quarter for Symantec (NASDAQ:SYMC)

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