Gotham Asset Management LLC Reduces Stake in Symantec Corporation (NASDAQ:SYMC)

Gotham Asset Management LLC reduced its stake in Symantec Corporation (NASDAQ:SYMC) by 40.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 599,869 shares of the technology company’s stock after selling 404,968 shares during the period. Gotham Asset Management LLC owned about 0.10% of Symantec Corporation worth $18,404,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of SYMC. BlackRock Inc. increased its stake in Symantec Corporation by 2,815.1% in the first quarter. BlackRock Inc. now owns 40,975,309 shares of the technology company’s stock valued at $1,257,121,000 after buying an additional 39,569,694 shares in the last quarter. Dodge & Cox purchased a new stake in Symantec Corporation during the fourth quarter valued at about $180,155,000. Norges Bank purchased a new stake in Symantec Corporation during the fourth quarter valued at about $134,284,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main purchased a new stake in Symantec Corporation during the fourth quarter valued at about $75,665,000. Finally, FMR LLC increased its stake in Symantec Corporation by 41.9% in the first quarter. FMR LLC now owns 10,420,611 shares of the technology company’s stock valued at $319,703,000 after buying an additional 3,076,263 shares in the last quarter. 93.99% of the stock is owned by institutional investors.

Shares of Symantec Corporation (NASDAQ:SYMC) traded up 3.444% during midday trading on Wednesday, hitting $30.009. 3,394,755 shares of the company were exchanged. The company has a 50-day moving average of $29.63 and a 200 day moving average of $28.82. Symantec Corporation has a one year low of $20.06 and a one year high of $33.22. The company’s market capitalization is $18.25 billion.

Symantec Corporation (NASDAQ:SYMC) last posted its quarterly earnings results on Wednesday, May 10th. The technology company reported $0.28 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.28. The business had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $1.18 billion. Symantec Corporation had a positive return on equity of 11.06% and a negative net margin of 2.64%. Symantec Corporation’s revenue for the quarter was up 34.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.22 earnings per share. On average, equities research analysts expect that Symantec Corporation will post $1.79 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 21st. Shareholders of record on Wednesday, June 7th were paid a dividend of $0.075 per share. This represents a $0.30 annualized dividend and a yield of 1.03%. The ex-dividend date of this dividend was Monday, June 5th. Symantec Corporation’s payout ratio is -176.47%.

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Several analysts recently issued reports on SYMC shares. Morgan Stanley upped their price objective on shares of Symantec Corporation from $33.00 to $37.00 and gave the stock an “overweight” rating in a report on Wednesday, March 22nd. OTR Global raised shares of Symantec Corporation to a “positive” rating in a report on Friday, April 21st. Wells Fargo & Company reaffirmed a “market perform” rating on shares of Symantec Corporation in a report on Friday, April 7th. Standpoint Research raised shares of Symantec Corporation from a “hold” rating to a “buy” rating in a report on Thursday, June 29th. Finally, Barclays PLC raised shares of Symantec Corporation from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $34.00 to $38.00 in a report on Tuesday, May 30th. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating and fourteen have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $30.70.

In other news, Director Suzanne M. Vautrinot sold 2,500 shares of the company’s stock in a transaction that occurred on Monday, July 3rd. The stock was sold at an average price of $28.45, for a total value of $71,125.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Roxane Divol sold 19,117 shares of the company’s stock in a transaction that occurred on Friday, May 19th. The shares were sold at an average price of $29.34, for a total value of $560,892.78. Following the completion of the transaction, the executive vice president now directly owns 116,624 shares of the company’s stock, valued at approximately $3,421,748.16. The disclosure for this sale can be found here. In the last three months, insiders have sold 159,909 shares of company stock valued at $4,881,150. Insiders own 0.76% of the company’s stock.

Symantec Corporation Company Profile

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.

Institutional Ownership by Quarter for Symantec Corporation (NASDAQ:SYMC)

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