Bank of New York Mellon Corp reduced its position in shares of Symantec Corporation (NASDAQ:SYMC) by 4.9% during the second quarter, according to its most recent disclosure with the SEC. The firm owned 5,880,466 shares of the technology company’s stock after selling 301,790 shares during the period. Bank of New York Mellon Corp owned 0.97% of Symantec Corporation worth $166,123,000 at the end of the most recent reporting period.
Several other hedge funds have also added to or reduced their stakes in the stock. Advisory Services Network LLC acquired a new stake in Symantec Corporation during the first quarter worth about $142,000. Johnson Financial Group Inc. boosted its stake in Symantec Corporation by 8.0% in the first quarter. Johnson Financial Group Inc. now owns 5,271 shares of the technology company’s stock valued at $162,000 after buying an additional 390 shares during the last quarter. IFP Advisors Inc boosted its stake in Symantec Corporation by 0.3% in the first quarter. IFP Advisors Inc now owns 6,283 shares of the technology company’s stock valued at $193,000 after buying an additional 19 shares during the last quarter. American Asset Management Inc. purchased a new stake in Symantec Corporation during the first quarter valued at $207,000. Finally, Yakira Capital Management Inc. purchased a new stake in Symantec Corporation during the first quarter valued at $217,000. 93.40% of the stock is owned by institutional investors.
Symantec Corporation (NASDAQ SYMC) opened at 28.14 on Tuesday. The stock has a 50 day moving average price of $29.56 and a 200 day moving average price of $29.87. The company’s market cap is $17.24 billion. Symantec Corporation has a 52 week low of $22.76 and a 52 week high of $33.22.
Symantec Corporation (NASDAQ:SYMC) last issued its quarterly earnings data on Wednesday, August 2nd. The technology company reported $0.15 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.12 by $0.03. Symantec Corporation had a positive return on equity of 10.73% and a negative net margin of 8.68%. The company had revenue of $1.23 billion for the quarter, compared to the consensus estimate of $1.20 billion. During the same quarter last year, the business posted $0.29 earnings per share. The firm’s revenue was up 38.9% compared to the same quarter last year. On average, equities analysts forecast that Symantec Corporation will post $1.81 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 13th. Investors of record on Monday, August 21st will be given a $0.075 dividend. The ex-dividend date of this dividend is Thursday, August 17th. This represents a $0.30 dividend on an annualized basis and a dividend yield of 1.07%. Symantec Corporation’s dividend payout ratio (DPR) is presently -49.18%.
Several analysts recently weighed in on SYMC shares. Goldman Sachs Group, Inc. (The) reissued a “buy” rating and set a $36.00 price target on shares of Symantec Corporation in a report on Friday, June 9th. Standpoint Research raised Symantec Corporation from a “hold” rating to a “buy” rating in a report on Thursday, June 29th. Zacks Investment Research raised Symantec Corporation from a “strong sell” rating to a “buy” rating and set a $32.00 price target for the company in a report on Tuesday, July 11th. BidaskClub raised Symantec Corporation from a “hold” rating to a “buy” rating in a report on Wednesday, July 12th. Finally, Stifel Nicolaus reissued a “hold” rating and set a $29.00 price target (up from $28.00) on shares of Symantec Corporation in a report on Thursday, May 11th. Two equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and thirteen have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $31.00.
In related news, Director Suzanne M. Vautrinot sold 2,500 shares of the stock in a transaction on Monday, July 3rd. The stock was sold at an average price of $28.45, for a total value of $71,125.00. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Anita M. Sands sold 2,000 shares of the stock in a transaction on Wednesday, July 12th. The stock was sold at an average price of $30.00, for a total value of $60,000.00. Following the completion of the sale, the director now owns 43,386 shares in the company, valued at approximately $1,301,580. The disclosure for this sale can be found here. Insiders sold 1,457,847 shares of company stock worth $42,192,310 in the last quarter. 1.30% of the stock is currently owned by company insiders.
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.
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