Pinebridge Investments L.P. increased its holdings in shares of Symantec Corporation (NASDAQ:SYMC) by 5.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 71,699 shares of the technology company’s stock after purchasing an additional 3,439 shares during the quarter. Pinebridge Investments L.P.’s holdings in Symantec were worth $2,012,000 at the end of the most recent quarter.
A number of other hedge funds have also bought and sold shares of the stock. The Manufacturers Life Insurance Company lifted its stake in Symantec by 20.5% during the fourth quarter. The Manufacturers Life Insurance Company now owns 723,316 shares of the technology company’s stock worth $20,298,000 after purchasing an additional 123,086 shares during the last quarter. First Trust Advisors LP lifted its stake in Symantec by 34.2% during the fourth quarter. First Trust Advisors LP now owns 3,694,969 shares of the technology company’s stock worth $103,681,000 after purchasing an additional 941,382 shares during the last quarter. Retirement Systems of Alabama lifted its stake in Symantec by 0.8% during the fourth quarter. Retirement Systems of Alabama now owns 300,450 shares of the technology company’s stock worth $8,431,000 after purchasing an additional 2,305 shares during the last quarter. New Mexico Educational Retirement Board lifted its stake in Symantec by 4.6% during the fourth quarter. New Mexico Educational Retirement Board now owns 59,097 shares of the technology company’s stock worth $1,658,000 after purchasing an additional 2,600 shares during the last quarter. Finally, Candriam Luxembourg S.C.A. lifted its stake in Symantec by 8.4% during the fourth quarter. Candriam Luxembourg S.C.A. now owns 1,061,056 shares of the technology company’s stock worth $29,773,000 after purchasing an additional 81,864 shares during the last quarter. Hedge funds and other institutional investors own 91.54% of the company’s stock.
SYMC has been the subject of several recent analyst reports. Barclays restated a “buy” rating and set a $36.00 target price on shares of Symantec in a research note on Thursday, November 2nd. Oppenheimer restated a “buy” rating and set a $31.00 target price on shares of Symantec in a research note on Thursday, February 1st. Morgan Stanley reduced their price objective on Symantec from $34.00 to $31.00 and set an “equal weight” rating for the company in a research note on Friday, November 3rd. Deutsche Bank started coverage on Symantec in a research note on Tuesday, December 19th. They issued a “hold” rating and a $30.00 price objective for the company. Finally, BidaskClub upgraded Symantec from a “sell” rating to a “hold” rating in a research note on Tuesday, December 12th. Four investment analysts have rated the stock with a sell rating, sixteen have issued a hold rating and eight have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $30.92.
Symantec (NASDAQ:SYMC) last released its earnings results on Wednesday, January 31st. The technology company reported $0.49 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.44 by $0.05. The business had revenue of $1.23 billion for the quarter, compared to analyst estimates of $1.27 billion. Symantec had a return on equity of 14.26% and a net margin of 22.24%. The company’s revenue for the quarter was up 13.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.32 earnings per share. sell-side analysts forecast that Symantec Corporation will post 0.99 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 14th. Stockholders of record on Tuesday, February 20th will be issued a $0.075 dividend. This represents a $0.30 dividend on an annualized basis and a dividend yield of 1.11%. The ex-dividend date of this dividend is Friday, February 16th. Symantec’s payout ratio is currently 19.48%.
In other news, EVP Francis C. Rosch sold 57,103 shares of the business’s stock in a transaction that occurred on Wednesday, December 6th. The stock was sold at an average price of $27.42, for a total value of $1,565,764.26. Following the transaction, the executive vice president now owns 325,026 shares of the company’s stock, valued at $8,912,212.92. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 1.30% of the company’s stock.
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Symantec Company Profile
Symantec Corporation is a United States-based cyber security company. The Company offers products under categories, such as threat protection, information protection and cyber security services. 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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