Nicholas R. Noviello Sells 10,034 Shares of Symantec Corporation (SYMC) Stock

Symantec Corporation (NASDAQ:SYMC) CFO Nicholas R. Noviello sold 10,034 shares of Symantec Corporation stock in a transaction dated Wednesday, July 12th. The stock was sold at an average price of $30.00, for a total transaction of $301,020.00. Following the completion of the sale, the chief financial officer now owns 236,787 shares of the company’s stock, valued at approximately $7,103,610. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.

Shares of Symantec Corporation (SYMC) opened at 28.49 on Wednesday. The company’s market capitalization is $17.35 billion. Symantec Corporation has a 1-year low of $21.50 and a 1-year high of $33.22. The stock has a 50 day moving average of $29.63 and a 200-day moving average of $29.73.

Symantec Corporation (NASDAQ:SYMC) last issued its earnings results on Wednesday, August 2nd. The technology company reported $0.15 EPS for the quarter, topping the consensus estimate of $0.12 by $0.03. Symantec Corporation had a negative net margin of 8.68% and a positive return on equity of 10.73%. The company had revenue of $1.23 billion for the quarter, compared to the consensus estimate of $1.20 billion. During the same period in the previous year, the firm earned $0.29 earnings per share. The firm’s revenue for the quarter was up 38.9% on a year-over-year basis. Analysts forecast that Symantec Corporation will post $1.80 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 13th. Investors of record on Monday, August 21st will be paid a $0.075 dividend. This represents a $0.30 annualized dividend and a dividend yield of 1.05%. The ex-dividend date is Thursday, August 17th. Symantec Corporation’s payout ratio is -49.18%.

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Several hedge funds and other institutional investors have recently modified their holdings of SYMC. Westpac Banking Corp increased its position in shares of Symantec Corporation by 69.2% in the first quarter. Westpac Banking Corp now owns 60,637 shares of the technology company’s stock valued at $1,115,000 after buying an additional 24,805 shares during the last quarter. Telemus Capital LLC increased its position in shares of Symantec Corporation by 14.7% in the first quarter. Telemus Capital LLC now owns 32,375 shares of the technology company’s stock valued at $993,000 after buying an additional 4,155 shares during the last quarter. Kwmg LLC increased its position in shares of Symantec Corporation by 61.0% in the first quarter. Kwmg LLC now owns 56,378 shares of the technology company’s stock valued at $1,730,000 after buying an additional 21,367 shares during the last quarter. Dodge & Cox purchased a new position in shares of Symantec Corporation during the fourth quarter valued at approximately $180,155,000. Finally, Spirit of America Management Corp NY increased its position in shares of Symantec Corporation by 9.9% in the second quarter. Spirit of America Management Corp NY now owns 26,200 shares of the technology company’s stock valued at $740,000 after buying an additional 2,350 shares during the last quarter. 93.82% of the stock is currently owned by institutional investors.

Several analysts have weighed in on the stock. UBS AG cut shares of Symantec Corporation from a “buy” rating to a “neutral” rating and lifted their price objective for the stock from $31.00 to $33.00 in a research note on Thursday, May 18th. Robert W. Baird restated a “hold” rating on shares of Symantec Corporation in a research report on Thursday, August 3rd. Oppenheimer Holdings, Inc. restated an “outperform” rating and issued a $35.00 target price (up from $33.00) on shares of Symantec Corporation in a research report on Friday, August 4th. Evercore ISI set a $25.00 target price on shares of Symantec Corporation and gave the company a “hold” rating in a research report on Saturday, June 10th. Finally, BidaskClub cut shares of Symantec Corporation from a “buy” rating to a “hold” rating in a research report on Saturday. One research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and thirteen have issued a buy rating to the stock. Symantec Corporation presently has an average rating of “Hold” and a consensus target price of $31.00.

About Symantec Corporation

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.

Insider Buying and Selling by Quarter for Symantec Corporation (NASDAQ:SYMC)

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