Pacer Advisors Inc. trimmed its stake in shares of Symantec Co. (NASDAQ:SYMC) by 9.8% during the 3rd quarter, Holdings Channel reports. The fund owned 206,251 shares of the technology company’s stock after selling 22,356 shares during the quarter. Pacer Advisors Inc.’s holdings in Symantec were worth $4,874,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors also recently bought and sold shares of SYMC. FinTrust Capital Advisors LLC grew its holdings in Symantec by 995.1% during the second quarter. FinTrust Capital Advisors LLC now owns 1,347 shares of the technology company’s stock worth $29,000 after acquiring an additional 1,224 shares during the period. Arcadia Investment Management Corp MI purchased a new position in Symantec during the second quarter worth approximately $39,000. CSat Investment Advisory L.P. boosted its position in Symantec by 126.3% during the second quarter. CSat Investment Advisory L.P. now owns 2,123 shares of the technology company’s stock worth $46,000 after purchasing an additional 1,185 shares in the last quarter. Cullen Frost Bankers Inc. purchased a new position in Symantec during the second quarter worth approximately $57,000. Finally, Rehmann Capital Advisory Group boosted its position in Symantec by 98.9% during the second quarter. Rehmann Capital Advisory Group now owns 2,960 shares of the technology company’s stock worth $64,000 after purchasing an additional 1,472 shares in the last quarter. 90.63% of the stock is currently owned by hedge funds and other institutional investors.
A number of equities analysts have issued reports on the company. Morgan Stanley upgraded Symantec from an “underweight” rating to an “equal weight” rating and set a $27.00 price target on the stock in a research report on Friday, August 9th. Monness Crespi & Hardt assumed coverage on Symantec in a research report on Wednesday, July 10th. They set a “neutral” rating on the stock. Mizuho upgraded Symantec from a “neutral” rating to a “buy” rating and increased their price target for the stock from $22.00 to $23.00 in a research report on Monday, June 17th. William Blair reiterated a “market perform” rating on shares of Symantec in a research report on Friday, August 9th. Finally, ValuEngine downgraded Symantec from a “hold” rating to a “sell” rating in a research report on Wednesday, October 2nd. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and two have assigned a buy rating to the stock. Symantec presently has a consensus rating of “Hold” and a consensus price target of $22.82.
In related news, Director Peter A. Feld bought 1,325,814 shares of the firm’s stock in a transaction that occurred on Wednesday, August 14th. The stock was purchased at an average cost of $22.95 per share, for a total transaction of $30,427,431.30. Following the completion of the acquisition, the director now owns 24,685 shares in the company, valued at approximately $566,520.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Samir Kapuria sold 9,674 shares of Symantec stock in a transaction on Thursday, October 10th. The shares were sold at an average price of $23.47, for a total value of $227,048.78. Following the completion of the transaction, the executive vice president now owns 387,166 shares of the company’s stock, valued at $9,086,786.02. The disclosure for this sale can be found here. Company insiders own 1.90% of the company’s stock.
Shares of NASDAQ SYMC opened at $23.56 on Friday. Symantec Co. has a twelve month low of $17.42 and a twelve month high of $26.07. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.79. The stock has a fifty day simple moving average of $23.68 and a 200-day simple moving average of $22.50. The stock has a market capitalization of $14.54 billion, a PE ratio of 20.14, a PEG ratio of 3.28 and a beta of 1.29.
Symantec (NASDAQ:SYMC) last released its earnings results on Thursday, August 8th. The technology company reported $0.43 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.32 by $0.11. The firm had revenue of $1.25 billion during the quarter, compared to analyst estimates of $1.19 billion. Symantec had a return on equity of 14.94% and a net margin of 2.43%. Symantec’s revenue was up 7.9% compared to the same quarter last year. During the same period last year, the business posted $0.34 earnings per share. On average, equities analysts predict that Symantec Co. will post 1.33 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Wednesday, September 18th. Investors of record on Monday, August 26th were issued a $0.075 dividend. The ex-dividend date of this dividend was Friday, August 23rd. This represents a $0.30 dividend on an annualized basis and a yield of 1.27%. Symantec’s dividend payout ratio (DPR) is presently 25.64%.
Symantec Corporation provides cybersecurity products, services, and solutions worldwide. The company operates through two segments, Enterprise Security and Consumer Digital Safety. The Enterprise Security segment provides endpoint and information protection products, including endpoint security, advanced threat protection, and information protection solutions and their related support services; and network and Web security products, such as network security, Web security, and cloud security solutions and their related support services.
Read More: What factors cause inflation to rise?
Want to see what other hedge funds are holding SYMC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Symantec Co. (NASDAQ:SYMC).
Receive News & Ratings for Symantec Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Symantec and related companies with MarketBeat.com's FREE daily email newsletter.