Symantec Co. (NASDAQ:SYMC) Director Peter A. Feld purchased 1,325,814 shares of the business’s stock in a transaction that occurred on Wednesday, August 14th. The stock was bought at an average cost of $22.95 per share, with a total value of $30,427,431.30. Following the acquisition, the director now owns 24,685 shares of the company’s stock, valued at approximately $566,520.75. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
SYMC stock opened at $23.38 on Friday. The business has a fifty day moving average of $22.93 and a two-hundred day moving average of $22.22. The company has a quick ratio of 0.85, a current ratio of 0.71 and a debt-to-equity ratio of 0.79. The stock has a market cap of $14.29 billion, a price-to-earnings ratio of 19.98, a price-to-earnings-growth ratio of 2.55 and a beta of 1.33. Symantec Co. has a 52-week low of $17.42 and a 52-week high of $26.07.
Symantec (NASDAQ:SYMC) last posted its earnings results on Thursday, August 8th. The technology company reported $0.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.32 by $0.11. Symantec had a return on equity of 14.94% and a net margin of 2.43%. The company had revenue of $1.25 billion during the quarter, compared to analysts’ expectations of $1.19 billion. During the same quarter last year, the firm earned $0.34 earnings per share. The firm’s quarterly revenue was up 7.9% compared to the same quarter last year. As a group, sell-side analysts anticipate that Symantec Co. will post 1.32 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 18th. Stockholders of record on Monday, August 26th will be given a dividend of $0.075 per share. The ex-dividend date is Friday, August 23rd. This represents a $0.30 annualized dividend and a dividend yield of 1.28%. Symantec’s dividend payout ratio is currently 25.64%.
Several research firms recently commented on SYMC. Mizuho raised Symantec from a “neutral” rating to a “buy” rating and increased their price target for the company from $22.00 to $23.00 in a report on Monday, June 17th. Morgan Stanley raised Symantec from an “underweight” rating to an “equal weight” rating and set a $27.00 price target for the company in a report on Friday, August 9th. Wedbush set a $19.00 target price on Symantec and gave the stock a “hold” rating in a research note on Monday, July 15th. Zacks Investment Research raised Symantec from a “sell” rating to a “hold” rating in a research note on Wednesday, May 15th. Finally, Argus reissued a “hold” rating on shares of Symantec in a research note on Tuesday. One equities research analyst has rated the stock with a sell rating, fifteen have given a hold rating and four have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $22.57.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. American Century Companies Inc. boosted its position in shares of Symantec by 4.4% during the fourth quarter. American Century Companies Inc. now owns 10,927 shares of the technology company’s stock worth $206,000 after buying an additional 460 shares during the period. Migdal Insurance & Financial Holdings Ltd. boosted its position in shares of Symantec by 0.7% during the first quarter. Migdal Insurance & Financial Holdings Ltd. now owns 72,694 shares of the technology company’s stock worth $1,671,000 after buying an additional 478 shares during the period. Brighton Jones LLC boosted its position in shares of Symantec by 3.1% during the second quarter. Brighton Jones LLC now owns 16,241 shares of the technology company’s stock worth $353,000 after buying an additional 495 shares during the period. Crossmark Global Holdings Inc. boosted its position in shares of Symantec by 1.3% during the first quarter. Crossmark Global Holdings Inc. now owns 39,150 shares of the technology company’s stock worth $900,000 after buying an additional 500 shares during the period. Finally, Advisor Partners LLC boosted its position in shares of Symantec by 5.5% during the first quarter. Advisor Partners LLC now owns 12,023 shares of the technology company’s stock worth $276,000 after buying an additional 625 shares during the period. Institutional investors and hedge funds own 92.80% of the company’s stock.
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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