Cambridge Investment Research Advisors Inc. lessened its position in Symantec Co. (NASDAQ:SYMC) by 20.7% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 11,687 shares of the technology company’s stock after selling 3,048 shares during the quarter. Cambridge Investment Research Advisors Inc.’s holdings in Symantec were worth $221,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in SYMC. Vanguard Group Inc increased its holdings in shares of Symantec by 1.4% in the 3rd quarter. Vanguard Group Inc now owns 65,537,473 shares of the technology company’s stock worth $1,394,637,000 after purchasing an additional 902,112 shares in the last quarter. BlackRock Inc. increased its holdings in shares of Symantec by 0.8% in the 3rd quarter. BlackRock Inc. now owns 40,943,273 shares of the technology company’s stock worth $871,273,000 after purchasing an additional 314,787 shares in the last quarter. Starboard Value LP bought a new stake in shares of Symantec in the 3rd quarter worth $521,398,000. Capital International Investors bought a new stake in shares of Symantec in the 3rd quarter worth $222,769,000. Finally, FMR LLC increased its holdings in shares of Symantec by 34.3% in the 3rd quarter. FMR LLC now owns 6,093,578 shares of the technology company’s stock worth $129,672,000 after purchasing an additional 1,556,665 shares in the last quarter. Institutional investors own 87.59% of the company’s stock.
SYMC has been the subject of a number of research analyst reports. ValuEngine lowered Symantec from a “buy” rating to a “hold” rating in a report on Tuesday, December 25th. BidaskClub downgraded Symantec from a “buy” rating to a “hold” rating in a research note on Tuesday, December 18th. Zacks Investment Research downgraded Symantec from a “buy” rating to a “hold” rating in a research note on Saturday, February 2nd. Evercore ISI restated a “hold” rating and issued a $22.00 price target on shares of Symantec in a research note on Monday, February 4th. Finally, Credit Suisse Group restated a “hold” rating and issued a $23.00 price target on shares of Symantec in a research note on Friday, February 1st. Two analysts have rated the stock with a sell rating, twenty have assigned a hold rating and three have assigned a buy rating to the company. Symantec has an average rating of “Hold” and an average price target of $22.49.
Symantec (NASDAQ:SYMC) last released its earnings results on Thursday, January 31st. The technology company reported $0.44 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.39 by $0.05. The company had revenue of $1.22 billion for the quarter, compared to the consensus estimate of $1.18 billion. Symantec had a positive return on equity of 13.24% and a negative net margin of 0.86%. During the same period in the previous year, the business earned $0.49 earnings per share. On average, equities research analysts anticipate that Symantec Co. will post 1.16 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 13th. Investors of record on Tuesday, February 19th will be given a dividend of $0.075 per share. The ex-dividend date of this dividend is Friday, February 15th. This represents a $0.30 annualized dividend and a yield of 1.34%. Symantec’s dividend payout ratio (DPR) is presently 31.58%.
In related news, SVP Amy L. Cappellanti-Wolf sold 18,321 shares of Symantec stock in a transaction on Thursday, February 14th. The stock was sold at an average price of $23.05, for a total transaction of $422,299.05. Following the transaction, the senior vice president now directly owns 276,640 shares in the company, valued at $6,376,552. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Samir Kapuria sold 45,455 shares of Symantec stock in a transaction on Thursday, February 14th. The shares were sold at an average price of $23.05, for a total value of $1,047,737.75. Following the transaction, the executive vice president now owns 313,931 shares in the company, valued at $7,236,109.55. The disclosure for this sale can be found here. Insiders have sold 69,169 shares of company stock worth $1,588,144 over the last quarter. 1.90% of the stock is owned by company insiders.
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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