DekaBank Deutsche Girozentrale lessened its holdings in Symantec Co. (NASDAQ:SYMC) by 1.9% during the first quarter, HoldingsChannel reports. The institutional investor owned 48,606 shares of the technology company’s stock after selling 944 shares during the quarter. DekaBank Deutsche Girozentrale’s holdings in Symantec were worth $1,032,000 at the end of the most recent reporting period.
Several other hedge funds have also modified their holdings of the stock. Commonwealth Bank of Australia grew its stake in shares of Symantec by 1.1% during the first quarter. Commonwealth Bank of Australia now owns 112,217 shares of the technology company’s stock valued at $2,574,000 after buying an additional 1,200 shares during the last quarter. Advisor Group Inc. grew its stake in shares of Symantec by 35.9% during the first quarter. Advisor Group Inc. now owns 26,285 shares of the technology company’s stock valued at $604,000 after buying an additional 6,948 shares during the last quarter. BlackRock Inc. boosted its holdings in shares of Symantec by 2.7% during the first quarter. BlackRock Inc. now owns 43,461,601 shares of the technology company’s stock worth $999,183,000 after purchasing an additional 1,152,103 shares during the period. Hudson Capital Management LLC boosted its holdings in shares of Symantec by 47.6% during the first quarter. Hudson Capital Management LLC now owns 59,927 shares of the technology company’s stock worth $1,378,000 after purchasing an additional 19,320 shares during the period. Finally, Parametric Portfolio Associates LLC boosted its holdings in shares of Symantec by 0.4% during the first quarter. Parametric Portfolio Associates LLC now owns 1,704,026 shares of the technology company’s stock worth $39,176,000 after purchasing an additional 7,554 shares during the period. Institutional investors own 91.72% of the company’s stock.
Shares of SYMC opened at $19.21 on Tuesday. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.69. Symantec Co. has a one year low of $17.42 and a one year high of $24.77. The stock has a market capitalization of $12.03 billion, a price-to-earnings ratio of 16.42, a P/E/G ratio of 1.92 and a beta of 1.25.
Symantec (NASDAQ:SYMC) last issued its quarterly earnings data on Thursday, May 9th. The technology company reported $0.39 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.39. Symantec had a net margin of 0.59% and a return on equity of 13.05%. The business had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1.21 billion. During the same period last year, the business posted $0.46 earnings per share. Symantec’s quarterly revenue was down 2.2% compared to the same quarter last year. Sell-side analysts predict that Symantec Co. will post 1.26 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 26th. Shareholders of record on Monday, June 10th will be issued a $0.075 dividend. The ex-dividend date of this dividend is Friday, June 7th. This represents a $0.30 annualized dividend and a yield of 1.56%. Symantec’s dividend payout ratio (DPR) is presently 25.64%.
In related news, Director Peter A. Feld acquired 650,000 shares of the stock in a transaction on Wednesday, May 15th. The stock was acquired at an average cost of $19.51 per share, for a total transaction of $12,681,500.00. Following the completion of the acquisition, the director now directly owns 22,117 shares of the company’s stock, valued at approximately $431,502.67. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Suzanne M. Vautrinot sold 18,000 shares of the firm’s stock in a transaction dated Monday, April 8th. The stock was sold at an average price of $24.01, for a total transaction of $432,180.00. The disclosure for this sale can be found here. Insiders sold 1,047,534 shares of company stock valued at $24,445,539 over the last 90 days. 1.90% of the stock is currently owned by company insiders.
A number of analysts have recently weighed in on SYMC shares. BidaskClub lowered shares of Symantec from a “sell” rating to a “strong sell” rating in a report on Wednesday, May 29th. Zacks Investment Research upgraded shares of Symantec from a “sell” rating to a “hold” rating in a report on Wednesday, May 15th. Robert W. Baird reiterated a “hold” rating on shares of Symantec in a report on Friday, May 10th. Jefferies Financial Group dropped their target price on shares of Symantec from $22.00 to $19.00 and set a “hold” rating for the company in a report on Friday, May 10th. Finally, ValuEngine lowered shares of Symantec from a “hold” rating to a “sell” rating in a report on Wednesday, May 8th. Two analysts have rated the stock with a sell rating, thirteen have issued a hold rating and three have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $21.94.
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Symantec Company Profile
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.
See Also: Hedge Funds – Risk or Reward?
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