Soros Fund Management LLC raised its stake in shares of Symantec Corporation (NASDAQ:SYMC) by 178.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,199,328 shares of the technology company’s stock after buying an additional 768,856 shares during the period. Symantec Corporation makes up about 0.7% of Soros Fund Management LLC’s investment portfolio, making the stock its 25th largest position. Soros Fund Management LLC owned approximately 0.19% of Symantec Corporation worth $36,795,000 as of its most recent filing with the SEC.
A number of other hedge funds have also bought and sold shares of SYMC. Advisory Services Network LLC purchased a new stake in Symantec Corporation during the first quarter worth $142,000. Bessemer Group Inc. raised its stake in Symantec Corporation by 1,277.5% in the fourth quarter. Bessemer Group Inc. now owns 6,612 shares of the technology company’s stock worth $158,000 after buying an additional 6,132 shares in the last quarter. Johnson Financial Group Inc. raised 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 worth $162,000 after buying an additional 390 shares in the last quarter. IFP Advisors Inc raised 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 worth $193,000 after buying an additional 19 shares in the last quarter. Finally, IFM Investors Pty Ltd purchased a new stake in Symantec Corporation during the fourth quarter worth $202,000. Institutional investors and hedge funds own 94.02% of the company’s stock.
Symantec Corporation (NASDAQ SYMC) opened at 30.57 on Wednesday. Symantec Corporation has a 1-year low of $20.06 and a 1-year high of $33.22. The company’s 50 day moving average is $29.22 and its 200-day moving average is $29.31. The stock’s market cap is $18.59 billion.
Symantec Corporation (NASDAQ:SYMC) last announced its quarterly earnings data on Wednesday, May 10th. The technology company reported $0.28 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.28. The company had revenue of $1.18 billion for the quarter, compared to analysts’ expectations of $1.18 billion. Symantec Corporation had a negative net margin of 2.64% and a positive return on equity of 11.06%. Symantec Corporation’s revenue was up 34.7% compared to the same quarter last year. During the same period in the previous year, the company posted $0.22 EPS. Equities research analysts forecast that Symantec Corporation will post $1.79 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Wednesday, June 21st. Stockholders of record on Wednesday, June 7th were paid a dividend of $0.075 per share. The ex-dividend date of this dividend was Monday, June 5th. This represents a $0.30 dividend on an annualized basis and a dividend yield of 0.98%. Symantec Corporation’s dividend payout ratio (DPR) is presently -176.47%.
A number of research firms have recently weighed in on SYMC. UBS Group AG lowered shares of Symantec Corporation from a “buy” rating to a “neutral” rating and increased their target price for the stock from $31.00 to $33.00 in a report on Thursday, May 18th. Robert W. Baird restated a “hold” rating on shares of Symantec Corporation in a report on Saturday, June 10th. Evercore ISI set a $25.00 price objective on shares of Symantec Corporation and gave the stock a “hold” rating in a report on Saturday, June 10th. Zacks Investment Research upgraded shares of Symantec Corporation from a “strong sell” rating to a “buy” rating and set a $32.00 price objective for the company in a report on Tuesday, July 11th. Finally, Stifel Nicolaus restated a “hold” rating and issued a $29.00 price objective (up from $28.00) on shares of Symantec Corporation in a report on Thursday, May 11th. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and fifteen have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $30.79.
In other news, Director Anita M. Sands sold 2,000 shares of the company’s stock in a transaction on Monday, July 17th. The shares were sold at an average price of $30.40, for a total transaction of $60,800.00. Following the transaction, the director now directly owns 41,386 shares of the company’s stock, valued at approximately $1,258,134.40. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Francis C. Rosch sold 47,344 shares of the company’s stock in a transaction on Tuesday, June 6th. The stock was sold at an average price of $30.18, for a total transaction of $1,428,841.92. Following the transaction, the executive vice president now directly owns 193,054 shares in the company, valued at $5,826,369.72. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 173,943 shares of company stock worth $5,300,730. Corporate insiders own 0.76% of the company’s stock.
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.
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