Symantec (SYMC) Shares Sold by Franklin Resources Inc.

Franklin Resources Inc. reduced its stake in shares of Symantec (NASDAQ:SYMC) by 1.7% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 29,157,158 shares of the technology company’s stock after selling 490,332 shares during the quarter. Franklin Resources Inc. owned approximately 4.69% of Symantec worth $753,713,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of SYMC. Orbis Allan Gray Ltd increased its position in Symantec by 308.8% during the 4th quarter. Orbis Allan Gray Ltd now owns 29,262,025 shares of the technology company’s stock valued at $821,092,000 after purchasing an additional 22,104,563 shares during the period. CI Global Investments Inc. increased its position in Symantec by 27.2% during the 4th quarter. CI Global Investments Inc. now owns 12,644,999 shares of the technology company’s stock valued at $354,819,000 after purchasing an additional 2,702,027 shares during the period. AXA increased its position in Symantec by 491.3% during the 4th quarter. AXA now owns 1,624,249 shares of the technology company’s stock valued at $45,577,000 after purchasing an additional 1,349,542 shares during the period. First Trust Advisors LP increased its position in Symantec by 34.2% during the 4th quarter. First Trust Advisors LP now owns 3,694,969 shares of the technology company’s stock valued at $103,681,000 after purchasing an additional 941,382 shares during the period. Finally, Cambiar Investors LLC increased its position in Symantec by 78.4% during the 4th quarter. Cambiar Investors LLC now owns 2,088,120 shares of the technology company’s stock valued at $58,593,000 after purchasing an additional 917,448 shares during the period. 94.49% of the stock is currently owned by institutional investors and hedge funds.

Shares of SYMC stock opened at $20.99 on Friday. Symantec has a one year low of $18.85 and a one year high of $34.20. The stock has a market cap of $13.25 billion, a P/E ratio of 22.09, a PEG ratio of 3.00 and a beta of 0.86. The company has a current ratio of 1.11, a quick ratio of 1.15 and a debt-to-equity ratio of 0.99.

Symantec (NASDAQ:SYMC) last announced its quarterly earnings data on Thursday, May 10th. The technology company reported $0.46 EPS for the quarter, beating the Thomson Reuters’ 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 the consensus estimate of $1.19 billion. During the same period in the prior year, the firm posted $0.28 EPS. Symantec’s revenue for the quarter was up 4.9% on a year-over-year basis. analysts forecast that Symantec will post 0.86 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 20th. Investors of record on Friday, June 8th will be given a dividend of $0.075 per share. This represents a $0.30 annualized dividend and a yield of 1.43%. The ex-dividend date of this dividend is Thursday, June 7th. Symantec’s dividend payout ratio (DPR) is 31.58%.

SYMC has been the topic of a number of recent research reports. BidaskClub downgraded shares of Symantec from a “hold” rating to a “sell” rating in a research report on Thursday, March 22nd. Credit Suisse Group reduced their target price on shares of Symantec from $30.00 to $26.00 and set a “neutral” rating on the stock in a research report on Friday, May 11th. Piper Jaffray Companies downgraded shares of Symantec from an “overweight” rating to a “neutral” rating in a research report on Thursday, May 10th. UBS downgraded shares of Symantec from an “outperform” rating to a “market perform” rating in a research report on Friday, May 11th. Finally, Zacks Investment Research downgraded shares of Symantec from a “hold” rating to a “strong sell” rating in a research report on Wednesday, May 16th. Five investment analysts have rated the stock with a sell rating, nineteen have given a hold rating and three have given a buy rating to the stock. Symantec currently has a consensus rating of “Hold” and a consensus price target of $28.64.

In other Symantec news, EVP Francis C. Rosch sold 51,899 shares of the company’s stock in a transaction dated Monday, March 5th. The shares were sold at an average price of $26.59, for a total transaction of $1,379,994.41. Following the transaction, the executive vice president now owns 213,026 shares in the company, valued at approximately $5,664,361.34. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, 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 transaction of $110,880.00. The disclosure for this sale can be found here. Insiders have sold a total of 97,183 shares of company stock worth $2,630,726 over the last three months. 1.30% of the stock is currently owned by insiders.

Symantec Profile

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.

Institutional Ownership by Quarter for Symantec (NASDAQ:SYMC)

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