Stevens Capital Management LP purchased a new position in shares of Symantec Corporation (NASDAQ:SYMC) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 304,852 shares of the technology company’s stock, valued at approximately $8,612,000. Stevens Capital Management LP owned about 0.05% of Symantec Corporation as of its most recent SEC filing.
Several other hedge funds have also modified their holdings of the company. UBS Asset Management Americas Inc. raised its stake in shares of Symantec Corporation by 10.8% in the first quarter. UBS Asset Management Americas Inc. now owns 2,229,361 shares of the technology company’s stock valued at $68,397,000 after purchasing an additional 217,935 shares in the last quarter. Commerce Bank acquired a new position in shares of Symantec Corporation in the first quarter valued at $297,000. Ameriprise Financial Inc. raised its stake in shares of Symantec Corporation by 10.6% in the first quarter. Ameriprise Financial Inc. now owns 679,837 shares of the technology company’s stock valued at $20,856,000 after purchasing an additional 65,021 shares in the last quarter. Pioneer Investment Management Inc. acquired a new position in shares of Symantec Corporation in the first quarter valued at $1,351,000. Finally, State of Tennessee Treasury Department raised its stake in shares of Symantec Corporation by 21.5% in the first quarter. State of Tennessee Treasury Department now owns 458,212 shares of the technology company’s stock valued at $14,058,000 after purchasing an additional 81,165 shares in the last quarter. Institutional investors own 91.72% of the company’s stock.
A number of research analysts recently commented on the company. Evercore ISI set a $25.00 target price on Symantec Corporation and gave the company a “hold” rating in a research note on Saturday, June 10th. Robert W. Baird restated a “hold” rating on shares of Symantec Corporation in a research note on Saturday, June 10th. Zacks Investment Research upgraded Symantec Corporation from a “strong sell” rating to a “buy” rating and set a $32.00 target price for the company in a research note on Tuesday, July 11th. Barclays PLC restated an “overweight” rating and issued a $36.00 target price (down from $38.00) on shares of Symantec Corporation in a research note on Thursday, August 3rd. Finally, BidaskClub lowered Symantec Corporation from a “buy” rating to a “hold” rating in a research note on Saturday, August 5th. One research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and thirteen have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $31.54.
Shares of Symantec Corporation (SYMC) traded up 0.88% during mid-day trading on Friday, hitting $33.24. The stock had a trading volume of 9,577,891 shares. Symantec Corporation has a 52 week low of $22.76 and a 52 week high of $34.17. The stock has a 50 day moving average price of $29.97 and a 200 day moving average price of $30.12. The firm’s market cap is $20.37 billion.
Symantec Corporation (NASDAQ:SYMC) last posted its quarterly earnings results on Wednesday, August 2nd. The technology company reported $0.15 EPS for the quarter, topping analysts’ consensus estimates of $0.12 by $0.03. Symantec Corporation had a positive return on equity of 10.73% and a negative net margin of 8.68%. The company had revenue of $1.23 billion during the quarter, compared to analysts’ expectations of $1.20 billion. During the same quarter in the previous year, the firm earned $0.29 EPS. Symantec Corporation’s revenue was up 38.9% on a year-over-year basis. Equities research analysts expect that Symantec Corporation will post $1.81 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 13th. Stockholders of record on Monday, August 21st were issued a dividend of $0.075 per share. The ex-dividend date was Thursday, August 17th. This represents a $0.30 dividend on an annualized basis and a dividend yield of 0.90%. Symantec Corporation’s dividend payout ratio (DPR) is currently -49.18%.
In other Symantec Corporation news, EVP Roxane Divol sold 15,111 shares of the company’s stock in a transaction dated Tuesday, September 12th. The stock was sold at an average price of $33.05, for a total value of $499,418.55. Following the completion of the transaction, the executive vice president now owns 114,940 shares of the company’s stock, valued at approximately $3,798,767. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP Amy L. Cappellanti-Wolf sold 4,496 shares of the company’s stock in a transaction dated Thursday, September 14th. The stock was sold at an average price of $32.88, for a total value of $147,828.48. Following the completion of the transaction, the senior vice president now directly owns 108,411 shares of the company’s stock, valued at approximately $3,564,553.68. The disclosure for this sale can be found here. Insiders have sold a total of 1,677,228 shares of company stock valued at $48,822,058 in the last three months. 1.30% of the stock is owned by insiders.
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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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