Sandy Spring Bank Decreases Holdings in Symantec Corporation (SYMC)

Sandy Spring Bank decreased its position in Symantec Corporation (NASDAQ:SYMC) by 1.6% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 121,382 shares of the technology company’s stock after selling 1,980 shares during the quarter. Sandy Spring Bank’s holdings in Symantec Corporation were worth $3,472,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Commerce Bank grew its stake in shares of Symantec Corporation by 352.5% in the second quarter. Commerce Bank now owns 43,888 shares of the technology company’s stock worth $1,240,000 after acquiring an additional 34,189 shares during the last quarter. Delta Lloyd Asset Management N.V. purchased a new stake in shares of Symantec Corporation in the second quarter worth $1,830,000. Westpac Banking Corp grew its stake 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 worth $1,115,000 after acquiring an additional 24,805 shares during the last quarter. Kwmg LLC grew its stake 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 worth $1,730,000 after acquiring an additional 21,367 shares during the last quarter. Finally, Spirit of America Management Corp NY grew its stake 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 worth $740,000 after acquiring an additional 2,350 shares during the last quarter. Institutional investors and hedge funds own 91.72% of the company’s stock.

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A number of equities research analysts have recently commented on the company. Piper Jaffray Companies reissued a “buy” rating and issued a $40.00 target price on shares of Symantec Corporation in a research note on Tuesday. Robert W. Baird reissued a “hold” rating and issued a $32.00 target price on shares of Symantec Corporation in a research note on Friday, September 8th. Moffett Nathanson assumed coverage on Symantec Corporation in a research note on Wednesday, September 6th. They issued a “neutral” rating and a $33.00 target price on the stock. Credit Suisse Group assumed coverage on Symantec Corporation in a research note on Tuesday, September 5th. They issued an “outperform” rating and a $36.00 target price on the stock. Finally, BidaskClub raised Symantec Corporation from a “sell” rating to a “hold” rating in a research note on Wednesday, August 23rd. One investment analyst has rated the stock with a sell rating, sixteen have given a hold rating and thirteen have given a buy rating to the stock. Symantec Corporation presently has an average rating of “Hold” and an average target price of $31.54.

In other news, SVP Amy L. Cappellanti-Wolf sold 4,496 shares of the company’s stock in a transaction dated Thursday, September 14th. The stock was sold at an average price of $32.88, for a total value of $147,828.48. Following the sale, the senior vice president now owns 108,411 shares in the company, valued at $3,564,553.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Suzanne M. Vautrinot sold 2,500 shares of the company’s stock in a transaction dated Monday, July 3rd. The stock was sold at an average price of $28.45, for a total value of $71,125.00. The disclosure for this sale can be found here. Insiders sold 1,677,228 shares of company stock worth $48,822,058 in the last 90 days. Company insiders own 1.30% of the company’s stock.

Symantec Corporation (NASDAQ:SYMC) traded up 0.88% on Friday, hitting $33.24. The stock had a trading volume of 9,577,891 shares. The company has a 50 day moving average price of $29.97 and a 200-day moving average price of $30.12. The company’s market cap is $20.37 billion. Symantec Corporation has a 52-week low of $22.76 and a 52-week high of $34.17.

Symantec Corporation (NASDAQ:SYMC) last issued its earnings results on Wednesday, August 2nd. The technology company reported $0.15 EPS for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $1.23 billion for the quarter, compared to the consensus estimate of $1.20 billion. During the same quarter in the prior year, the business earned $0.29 earnings per share. The company’s revenue was up 38.9% compared to the same quarter last year. On average, equities research analysts predict that Symantec Corporation will post $1.81 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 13th. Stockholders of record on Monday, August 21st were paid a $0.075 dividend. The ex-dividend date of this dividend was Thursday, August 17th. This represents a $0.30 dividend on an annualized basis and a dividend yield of 0.90%. Symantec Corporation’s payout ratio is -49.18%.

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.

Institutional Ownership by Quarter for Symantec Corporation (NASDAQ:SYMC)

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