Rhumbline Advisers lifted its holdings in shares of Symantec Corporation (NASDAQ:SYMC) by 1.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,217,950 shares of the technology company’s stock after purchasing an additional 11,626 shares during the quarter. Rhumbline Advisers owned 0.20% of Symantec worth $34,176,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Arizona State Retirement System raised its position in shares of Symantec by 3.9% during the fourth quarter. Arizona State Retirement System now owns 316,279 shares of the technology company’s stock worth $8,875,000 after purchasing an additional 11,810 shares during the period. Pinebridge Investments L.P. raised its position in shares of Symantec by 5.0% during the fourth quarter. Pinebridge Investments L.P. now owns 71,699 shares of the technology company’s stock worth $2,012,000 after purchasing an additional 3,439 shares during the period. The Manufacturers Life Insurance Company raised its position in shares of 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 period. First Trust Advisors LP raised its position in shares of 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 period. Finally, Retirement Systems of Alabama raised its position in shares of 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 period. 91.54% of the stock is currently owned by institutional investors.
Symantec Corporation (NASDAQ:SYMC) opened at $27.02 on Wednesday. The company has a debt-to-equity ratio of 1.13, a current ratio of 1.15 and a quick ratio of 1.15. The firm has a market capitalization of $17,123.39, a P/E ratio of 34.87, a price-to-earnings-growth ratio of 3.15 and a beta of 0.89. Symantec Corporation has a one year low of $24.94 and a one year high of $34.20.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 14th. Shareholders of record on Tuesday, February 20th will be paid a $0.075 dividend. The ex-dividend date of this dividend is Friday, February 16th. This represents a $0.30 dividend on an annualized basis and a yield of 1.11%. Symantec’s dividend payout ratio is 19.48%.
In other news, EVP Francis C. Rosch sold 57,103 shares of Symantec stock in a transaction that occurred on Wednesday, December 6th. The stock was sold at an average price of $27.42, for a total transaction of $1,565,764.26. Following the completion of the transaction, the executive vice president now directly owns 325,026 shares in the company, valued at approximately $8,912,212.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.30% of the stock is owned by company insiders.
A number of research analysts recently issued reports on the company. Zacks Investment Research upgraded Symantec from a “sell” rating to a “hold” rating in a report on Tuesday, February 6th. BidaskClub upgraded Symantec from a “strong sell” rating to a “sell” rating in a report on Saturday, February 3rd. Oppenheimer reiterated a “buy” rating and set a $31.00 price objective on shares of Symantec in a report on Thursday, February 1st. Stephens reiterated a “hold” rating and set a $29.00 price objective on shares of Symantec in a report on Thursday, February 1st. Finally, Bank of America increased their price objective on Symantec from $19.00 to $21.00 and gave the stock an “underperform” rating in a report on Thursday, February 1st. Four analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and eight have issued a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $30.92.
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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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