FIL Ltd Purchases 254,789 Shares of Symantec Co. (NASDAQ:SYMC)

FIL Ltd lifted its stake in Symantec Co. (NASDAQ:SYMC) by 10.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,714,000 shares of the technology company’s stock after acquiring an additional 254,789 shares during the quarter. FIL Ltd owned approximately 0.42% of Symantec worth $62,395,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Covington Capital Management acquired a new position in Symantec during the fourth quarter worth $28,000. PRW Wealth Management LLC acquired a new position in Symantec during the fourth quarter worth $30,000. Parisi Gray Wealth Management acquired a new position in Symantec during the fourth quarter worth $45,000. Bronfman E.L. Rothschild L.P. increased its position in Symantec by 27.1% during the fourth quarter. Bronfman E.L. Rothschild L.P. now owns 3,363 shares of the technology company’s stock worth $64,000 after buying an additional 718 shares during the last quarter. Finally, CX Institutional increased its position in Symantec by 133.1% during the first quarter. CX Institutional now owns 2,813 shares of the technology company’s stock worth $65,000 after buying an additional 1,606 shares during the last quarter. 91.71% of the stock is currently owned by institutional investors and hedge funds.

A number of equities research analysts have issued reports on SYMC shares. Mizuho started coverage on shares of Symantec in a report on Tuesday, March 26th. They set a “neutral” rating and a $25.00 price target for the company. Zacks Investment Research cut shares of Symantec from a “buy” rating to a “hold” rating in a report on Wednesday, April 3rd. Goldman Sachs Group upgraded shares of Symantec from a “neutral” rating to a “buy” rating and upped their price target for the company from $23.00 to $28.00 in a report on Monday, April 8th. BidaskClub cut shares of Symantec from a “hold” rating to a “sell” rating in a report on Saturday, May 4th. Finally, ValuEngine cut shares of Symantec from a “hold” rating to a “sell” rating in a research note on Wednesday, May 8th. Three research analysts have rated the stock with a sell rating, eleven have given a hold rating and four have assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $21.44.

In other Symantec news, Director Suzanne M. Vautrinot sold 18,000 shares of the firm’s stock in a transaction that occurred on Monday, April 8th. The shares were sold at an average price of $24.01, for a total value of $432,180.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Peter A. Feld purchased 650,000 shares of Symantec stock in a transaction dated Wednesday, May 15th. The shares were purchased at an average cost of $19.51 per share, for a total transaction of $12,681,500.00. Following the completion of the transaction, the director now owns 22,117 shares of the company’s stock, valued at $431,502.67. The disclosure for this purchase can be found here. Over the last ninety days, insiders sold 715,379 shares of company stock worth $16,972,051. Insiders own 1.90% of the company’s stock.

Shares of Symantec stock traded up $0.30 during midday trading on Monday, reaching $22.06. The company had a trading volume of 3,776,554 shares, compared to its average volume of 6,077,899. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.69. The firm has a market cap of $13.69 billion, a P/E ratio of 18.85, a price-to-earnings-growth ratio of 2.19 and a beta of 1.31. The company’s fifty day moving average is $19.69. Symantec Co. has a 1-year low of $17.42 and a 1-year high of $24.77.

Symantec (NASDAQ:SYMC) last issued its quarterly earnings results on Thursday, May 9th. The technology company reported $0.39 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.39. The business had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1.21 billion. Symantec had a net margin of 0.59% and a return on equity of 13.05%. Symantec’s revenue for the quarter was down 2.2% compared to the same quarter last year. During the same quarter last year, the business posted $0.46 earnings per share. Equities research analysts expect that Symantec Co. will post 1.26 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 26th. Shareholders of record on Monday, June 10th were paid a $0.075 dividend. The ex-dividend date was Friday, June 7th. This represents a $0.30 dividend on an annualized basis and a yield of 1.36%. Symantec’s payout ratio is presently 25.64%.

Symantec Profile

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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Institutional Ownership by Quarter for Symantec (NASDAQ:SYMC)

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