Traders sold shares of Symantec (NASDAQ:SYMC) on strength during trading on Tuesday. $153.90 million flowed into the stock on the tick-up and $194.72 million flowed out of the stock on the tick-down, for a money net flow of $40.82 million out of the stock. Of all companies tracked, Symantec had the 8th highest net out-flow for the day. Symantec traded up $0.93 for the day and closed at $22.33
SYMC has been the topic of a number of research analyst reports. BidaskClub raised shares of Symantec from a “hold” rating to a “buy” rating in a report on Thursday, April 26th. Credit Suisse Group lowered shares of Symantec from an “outperform” rating to a “neutral” rating and dropped their price objective for the company from $36.00 to $30.00 in a report on Monday, January 22nd. Zacks Investment Research lowered shares of Symantec from a “hold” rating to a “sell” rating in a report on Tuesday, April 3rd. Standpoint Research raised shares of Symantec from a “hold” rating to a “buy” rating in a report on Friday, April 6th. Finally, Barclays dropped their price objective on shares of Symantec from $36.00 to $34.00 and set an “overweight” rating on the stock in a report on Thursday, February 1st. Four analysts have rated the stock with a sell rating, twenty have given a hold rating and four have assigned a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $28.90.
The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.15 and a current ratio of 1.11. The firm has a market cap of $12.13 billion, a P/E ratio of 23.51, a price-to-earnings-growth ratio of 1.60 and a beta of 0.86.
Symantec (NASDAQ:SYMC) last posted its quarterly earnings results on Thursday, May 10th. The technology company reported $0.46 EPS for the quarter, beating the consensus estimate 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 for the quarter, compared to analyst estimates of $1.19 billion. During the same period in the prior year, the company earned $0.28 earnings per share. The firm’s revenue was up 4.9% on a year-over-year basis. analysts predict that Symantec will post 1.38 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 20th. Shareholders of record on Friday, June 8th will be issued a $0.075 dividend. This represents a $0.30 annualized dividend and a yield of 1.34%. The ex-dividend date is Thursday, June 7th. Symantec’s payout ratio is 31.58%.
In other Symantec news, Director Suzanne M. Vautrinot sold 4,000 shares of the company’s stock in a transaction dated Friday, March 9th. The shares were sold at an average price of $27.72, for a total value of $110,880.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Francis C. Rosch sold 51,899 shares of the company’s stock in a transaction dated 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 transaction, the executive vice president now owns 213,026 shares of the company’s stock, valued at approximately $5,664,361.34. The disclosure for this sale can be found here. In the last quarter, insiders sold 97,183 shares of company stock valued at $2,630,726. Insiders own 1.30% of the company’s stock.
Several institutional investors have recently modified their holdings of SYMC. Clean Yield Group raised its position in shares of Symantec by 10.3% in the fourth quarter. Clean Yield Group now owns 162,450 shares of the technology company’s stock worth $4,558,000 after acquiring an additional 15,130 shares during the period. Bank of Montreal Can raised its position in shares of Symantec by 35.5% during the 4th quarter. Bank of Montreal Can now owns 428,723 shares of the technology company’s stock worth $12,030,000 after purchasing an additional 112,236 shares during the last quarter. National Pension Service raised its position in shares of Symantec by 2.6% during the 4th quarter. National Pension Service now owns 666,543 shares of the technology company’s stock worth $18,703,000 after purchasing an additional 16,672 shares during the last quarter. Schwab Charles Investment Management Inc. raised its position in shares of Symantec by 3.2% during the 4th quarter. Schwab Charles Investment Management Inc. now owns 2,322,932 shares of the technology company’s stock worth $65,182,000 after purchasing an additional 71,267 shares during the last quarter. Finally, Oakbrook Investments LLC raised its position in shares of Symantec by 14.6% during the 4th quarter. Oakbrook Investments LLC now owns 58,670 shares of the technology company’s stock worth $1,646,000 after purchasing an additional 7,490 shares during the last quarter. Institutional investors and hedge funds own 95.18% of the company’s stock.
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.
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