Investors Sell Shares of Symantec (SYMC) on Strength (SYMC)

Traders sold shares of Symantec Corporation (NASDAQ:SYMC) on strength during trading hours on Friday. $19.76 million flowed into the stock on the tick-up and $68.72 million flowed out of the stock on the tick-down, for a money net flow of $48.96 million out of the stock. Of all companies tracked, Symantec had the 0th highest net out-flow for the day. Symantec traded up $0.14 for the day and closed at $29.11

A number of brokerages have commented on SYMC. Barclays restated an “overweight” rating and issued a $36.00 target price (down from $38.00) on shares of Symantec in a research note on Wednesday, August 9th. Zacks Investment Research downgraded Symantec from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 8th. BidaskClub downgraded Symantec from a “buy” rating to a “hold” rating in a research note on Saturday, August 5th. Oppenheimer restated an “outperform” rating and issued a $35.00 target price (up from $33.00) on shares of Symantec in a research note on Friday, August 4th. Finally, Morgan Stanley downgraded Symantec from an “overweight” rating to an “equal weight” rating and decreased their target price for the company from $37.00 to $34.00 in a research note on Tuesday, October 10th. Two research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and nine have issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $32.39.

The company has a debt-to-equity ratio of 1.72, a current ratio of 1.12 and a quick ratio of 1.12. The firm has a market cap of $17,960.88, a PE ratio of 45.98, a PEG ratio of 2.93 and a beta of 1.13.

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

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 13th. Stockholders of record on Monday, November 20th will be given a dividend of $0.075 per share. The ex-dividend date of this dividend is Friday, November 17th. This represents a $0.30 annualized dividend and a dividend yield of 1.03%. Symantec’s dividend payout ratio is presently -75.00%.

In other news, SVP Amy L. Cappellanti-Wolf sold 2,163 shares of the business’s stock in a transaction that occurred 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 transaction, the senior vice president now directly owns 115,997 shares in the company, valued at $3,462,510.45. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Nicholas R. Noviello sold 7,688 shares of the business’s stock in a transaction that occurred on Thursday, September 7th. The stock was sold at an average price of $30.00, for a total value of $230,640.00. Following the transaction, the chief financial officer now owns 190,319 shares of the company’s stock, valued at $5,709,570. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 425,256 shares of company stock valued at $12,626,621. Insiders own 1.30% of the company’s stock.

A number of large investors have recently made changes to their positions in SYMC. NGAM Advisors L.P. raised its holdings in Symantec by 5.4% during the second quarter. NGAM Advisors L.P. now owns 20,504 shares of the technology company’s stock worth $580,000 after purchasing an additional 1,051 shares in the last quarter. IBM Retirement Fund raised its holdings in Symantec by 120.7% during the second quarter. IBM Retirement Fund now owns 15,081 shares of the technology company’s stock worth $476,000 after purchasing an additional 8,248 shares in the last quarter. Janney Montgomery Scott LLC raised its holdings in Symantec by 1.4% during the second quarter. Janney Montgomery Scott LLC now owns 28,831 shares of the technology company’s stock worth $814,000 after purchasing an additional 395 shares in the last quarter. Rothschild Asset Management Inc. raised its holdings in Symantec by 11.4% during the second quarter. Rothschild Asset Management Inc. now owns 19,032 shares of the technology company’s stock worth $538,000 after purchasing an additional 1,940 shares in the last quarter. Finally, CIBC Asset Management Inc raised its holdings in Symantec by 2.6% during the second quarter. CIBC Asset Management Inc now owns 85,042 shares of the technology company’s stock worth $2,402,000 after purchasing an additional 2,195 shares in the last quarter. 95.06% of the stock is currently owned by hedge funds and other institutional investors.

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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, 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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