Alliancebernstein L.P. cut its stake in Symantec Co. (NASDAQ:SYMC) by 1.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,040,858 shares of the technology company’s stock after selling 16,829 shares during the quarter. Alliancebernstein L.P. owned approximately 0.17% of Symantec worth $29,206,000 at the end of the most recent reporting period.
A number of other large investors also recently made changes to their positions in SYMC. Raymond James Financial Services Advisors Inc. lifted its holdings in Symantec by 6.7% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 27,997 shares of the technology company’s stock valued at $919,000 after acquiring an additional 1,762 shares during the period. Bessemer Group Inc. lifted its holdings in Symantec by 22.8% in the third quarter. Bessemer Group Inc. now owns 11,435 shares of the technology company’s stock valued at $375,000 after acquiring an additional 2,124 shares during the period. Retirement Systems of Alabama lifted its holdings in Symantec by 1.1% in the third quarter. Retirement Systems of Alabama now owns 298,145 shares of the technology company’s stock valued at $9,782,000 after acquiring an additional 3,236 shares during the period. New York State Common Retirement Fund lifted its holdings in Symantec by 1.4% in the third quarter. New York State Common Retirement Fund now owns 1,422,288 shares of the technology company’s stock valued at $46,665,000 after acquiring an additional 20,328 shares during the period. Finally, Comerica Bank lifted its holdings in Symantec by 3.4% in the third quarter. Comerica Bank now owns 153,203 shares of the technology company’s stock valued at $4,965,000 after acquiring an additional 5,105 shares during the period. 95.37% of the stock is owned by institutional investors.
Shares of Symantec Co. (NASDAQ SYMC) opened at $27.37 on Friday. The company has a debt-to-equity ratio of 1.13, a quick ratio of 1.15 and a current ratio of 1.15. Symantec Co. has a 12-month low of $24.94 and a 12-month high of $34.20. The company has a market capitalization of $17,117.17, a P/E ratio of 17.77, a P/E/G ratio of 3.15 and a beta of 0.89.
Symantec (NASDAQ:SYMC) last issued its quarterly earnings results on Wednesday, January 31st. The technology company reported $0.49 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.44 by $0.05. Symantec had a return on equity of 14.26% and a net margin of 22.24%. The firm had revenue of $1.23 billion during the quarter, compared to analysts’ expectations of $1.27 billion. During the same period in the previous year, the business earned $0.32 earnings per share. The firm’s revenue for the quarter was up 13.4% on a year-over-year basis. analysts predict that Symantec Co. will post 0.99 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, March 14th. Investors of record on Tuesday, February 20th were given a dividend of $0.075 per share. This represents a $0.30 annualized dividend and a dividend yield of 1.10%. The ex-dividend date was Friday, February 16th. Symantec’s payout ratio is 19.48%.
A number of research analysts have issued reports on SYMC shares. Bank of America boosted their price target on Symantec from $19.00 to $21.00 and gave the company an “underperform” rating in a report on Thursday, February 1st. BidaskClub downgraded Symantec from a “sell” rating to a “strong sell” rating in a report on Saturday, January 13th. Evercore ISI reissued a “hold” rating and issued a $25.00 price target on shares of Symantec in a report on Thursday, February 1st. Stephens reissued a “hold” rating and issued a $29.00 price target on shares of Symantec in a report on Thursday, February 1st. Finally, Credit Suisse Group downgraded Symantec from an “outperform” rating to a “neutral” rating and decreased their price target for the company from $36.00 to $30.00 in a report on Monday, January 22nd. Three investment analysts have rated the stock with a sell rating, seventeen have given a hold rating and seven have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $30.87.
In related news, EVP Francis C. Rosch sold 51,899 shares of the business’s stock in a transaction that occurred on Monday, March 5th. The stock was sold at an average price of $26.59, for a total transaction of $1,379,994.41. Following the completion of the sale, the executive vice president now directly owns 213,026 shares in the company, valued at $5,664,361.34. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Suzanne M. Vautrinot sold 4,000 shares of the business’s stock in a transaction that occurred on Friday, March 9th. The stock was sold at an average price of $27.72, for a total value of $110,880.00. The disclosure for this sale can be found here. 1.30% of the stock is currently owned by insiders.
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Symantec Corporation is a United States-based cyber security company. The Company offers products under categories, such as threat protection, information protection and cyber security services. 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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