Symantec Corporation (SYMC) Stake Lowered by Hanseatic Management Services Inc.

Hanseatic Management Services Inc. trimmed its holdings in shares of Symantec Corporation (NASDAQ:SYMC) by 34.4% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 25,934 shares of the technology company’s stock after selling 13,587 shares during the quarter. Hanseatic Management Services Inc.’s holdings in Symantec Corporation were worth $851,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of SYMC. Capital Research Global Investors increased its stake in Symantec Corporation by 1,784.9% during the 2nd quarter. Capital Research Global Investors now owns 14,305,855 shares of the technology company’s stock worth $404,140,000 after purchasing an additional 13,546,895 shares in the last quarter. Janus Henderson Group PLC increased its stake in Symantec Corporation by 10,624.9% during the 2nd quarter. Janus Henderson Group PLC now owns 9,578,167 shares of the technology company’s stock worth $270,583,000 after purchasing an additional 9,488,859 shares in the last quarter. CI Global Investments Inc. bought a new stake in Symantec Corporation during the 2nd quarter worth approximately $186,563,000. Renaissance Technologies LLC increased its stake in Symantec Corporation by 405.7% during the 2nd quarter. Renaissance Technologies LLC now owns 4,857,838 shares of the technology company’s stock worth $137,234,000 after purchasing an additional 3,897,200 shares in the last quarter. Finally, Capital World Investors increased its stake in Symantec Corporation by 3.7% during the 2nd quarter. Capital World Investors now owns 75,819,338 shares of the technology company’s stock worth $2,141,896,000 after purchasing an additional 2,695,567 shares in the last quarter. 90.39% of the stock is owned by institutional investors and hedge funds.

In other Symantec Corporation news, SVP Amy L. Cappellanti-Wolf sold 2,163 shares of the firm’s stock in a transaction on Tuesday, September 5th. The stock was sold at an average price of $29.85, for a total transaction of $64,565.55. Following the completion of the sale, the senior vice president now owns 115,997 shares of the company’s stock, valued at approximately $3,462,510.45. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Nicholas R. Noviello sold 14,925 shares of the firm’s stock in a transaction on Monday, August 28th. The shares were sold at an average price of $30.00, for a total value of $447,750.00. The disclosure for this sale can be found here. Insiders have sold a total of 671,985 shares of company stock valued at $20,028,343 in the last ninety days. Insiders own 1.30% of the company’s stock.

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Shares of Symantec Corporation (NASDAQ SYMC) traded up $0.13 during trading on Wednesday, reaching $28.10. The company’s stock had a trading volume of 5,308,000 shares, compared to its average volume of 6,816,003. Symantec Corporation has a fifty-two week low of $23.20 and a fifty-two week high of $34.20. The firm has a market cap of $17,340.90, a P/E ratio of 44.40, a price-to-earnings-growth ratio of 2.82 and a beta of 1.13. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 1.72.

Symantec Corporation (NASDAQ:SYMC) last announced its quarterly earnings results on Wednesday, November 1st. The technology company reported $0.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.26 by $0.14. Symantec Corporation had a positive return on equity of 12.33% and a negative net margin of 5.29%. The business had revenue of $1.28 billion during the quarter, compared to the consensus estimate of $1.27 billion. During the same quarter last year, the firm posted $0.30 EPS. The company’s quarterly revenue was up 25.7% on a year-over-year basis. sell-side analysts expect that Symantec Corporation will post 1.05 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 13th. Shareholders of record on Monday, November 20th will be issued a dividend of $0.075 per share. This represents a $0.30 annualized dividend and a yield of 1.07%. The ex-dividend date is Friday, November 17th. Symantec Corporation’s dividend payout ratio is -75.00%.

A number of analysts recently issued reports on SYMC shares. Credit Suisse Group started coverage on Symantec Corporation in a research note on Tuesday, September 5th. They set an “outperform” rating and a $36.00 target price for the company. Robert W. Baird reissued a “hold” rating and set a $32.00 target price on shares of Symantec Corporation in a research note on Friday, September 8th. Stifel Nicolaus reissued a “hold” rating and set a $27.00 target price on shares of Symantec Corporation in a research note on Wednesday, July 19th. Moffett Nathanson started coverage on Symantec Corporation in a research note on Wednesday, September 6th. They set a “neutral” rating and a $33.00 target price for the company. Finally, Cowen and Company cut Symantec Corporation from a “market perform” rating to an “underperform” rating and set a $31.00 target price for the company. in a research note on Monday, October 9th. Two analysts have rated the stock with a sell rating, fifteen have given a hold rating and ten have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $32.39.

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

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