Alphasimplex Group LLC increased its holdings in shares of Symantec Co. (NASDAQ:SYMC) by 14.6% during the first quarter, HoldingsChannel.com reports. The fund owned 45,254 shares of the technology company’s stock after buying an additional 5,750 shares during the period. Alphasimplex Group LLC’s holdings in Symantec were worth $1,040,000 at the end of the most recent reporting period.
Several other large investors have also bought and sold shares of SYMC. CI Investments Inc. acquired a new stake in shares of Symantec during the 4th quarter valued at about $192,976,000. Norges Bank acquired a new stake in shares of Symantec during the 4th quarter valued at about $97,166,000. FMR LLC grew its position in shares of Symantec by 44.1% during the 4th quarter. FMR LLC now owns 8,779,685 shares of the technology company’s stock valued at $165,892,000 after acquiring an additional 2,686,107 shares during the period. Bank of Nova Scotia grew its position in shares of Symantec by 299.8% during the 4th quarter. Bank of Nova Scotia now owns 2,858,792 shares of the technology company’s stock valued at $54,015,000 after acquiring an additional 2,143,686 shares during the period. Finally, BlackRock Inc. grew its position in shares of Symantec by 3.3% during the 4th quarter. BlackRock Inc. now owns 42,309,498 shares of the technology company’s stock valued at $799,438,000 after acquiring an additional 1,366,225 shares during the period. Hedge funds and other institutional investors own 91.72% of the company’s stock.
Shares of Symantec stock opened at $19.21 on Tuesday. The stock has a market capitalization of $12.03 billion, a P/E ratio of 16.42, a P/E/G ratio of 1.92 and a beta of 1.25. Symantec Co. has a twelve month low of $17.42 and a twelve month high of $24.77. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.85 and a current ratio of 0.85.
Symantec (NASDAQ:SYMC) last issued its quarterly earnings results on Thursday, May 9th. The technology company reported $0.39 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.39. The firm had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.21 billion. Symantec had a net margin of 0.59% and a return on equity of 13.05%. Symantec’s quarterly revenue was down 2.2% compared to the same quarter last year. During the same period last year, the company posted $0.46 EPS. Sell-side analysts forecast that Symantec Co. will post 1.26 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 26th. Shareholders of record on Monday, June 10th will be paid a $0.075 dividend. This represents a $0.30 dividend on an annualized basis and a yield of 1.56%. The ex-dividend date of this dividend is Friday, June 7th. Symantec’s dividend payout ratio (DPR) is 25.64%.
In other Symantec news, insider Gregory S. Clark sold 636,209 shares of the firm’s stock in a transaction that occurred on Wednesday, April 10th. The shares were sold at an average price of $23.69, for a total value of $15,071,791.21. Following the transaction, the insider now directly owns 1,503,837 shares of the company’s stock, valued at approximately $35,625,898.53. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Suzanne M. Vautrinot sold 18,000 shares of the firm’s stock in a transaction that occurred on 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 a total of 1,047,534 shares of company stock worth $24,445,539 over the last three months. Corporate insiders own 1.90% of the company’s stock.
A number of research firms have recently commented on SYMC. ValuEngine cut Symantec from a “hold” rating to a “sell” rating in a research report on Wednesday, May 8th. BidaskClub raised shares of Symantec from a “strong sell” rating to a “sell” rating in a research note on Thursday, May 23rd. Mizuho decreased their price target on shares of Symantec from $25.00 to $22.00 and set a “neutral” rating on the stock in a research note on Friday, May 10th. Jefferies Financial Group decreased their price target on shares of Symantec from $22.00 to $19.00 and set a “hold” rating on the stock in a research note on Friday, May 10th. Finally, Wedbush reaffirmed a “neutral” rating and issued a $19.00 price target (down from $24.00) on shares of Symantec in a research note on Friday, May 10th. Two investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating and three have given a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $21.94.
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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.
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