Insider Selling: Matto Andrew Del Sells 15,447 Shares of Symantec Corp. Stock (SYMC)
Symantec Corp. (NASDAQ:SYMC) CAO Matto Andrew Del unloaded 15,447 shares of the stock on the open market in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $25.48, for a total transaction of $393,589.56. Following the completion of the sale, the chief accounting officer now directly owns 42,715 shares of the company’s stock. The sale was disclosed in a legal filing with the SEC, which is available at this link.
SYMC has been the subject of a number of recent research reports. Analysts at Morgan Stanley downgraded shares of Symantec Corp. (NASDAQ:SYMC) from an “overweight” rating to an “equal weight” rating in a research note to investors on Thursday. They noted that the move was a valuation call. Separately, analysts at Argus raised their price target on shares of Symantec Corp. (NASDAQ:SYMC) from $27.00 to $35.00 in a research note to investors on Tuesday, August 6th. They now have a “buy” rating on the stock. Finally, analysts at JPMorgan Chase & Co. raised their price target on shares of Symantec Corp. (NASDAQ:SYMC) from $30.00 to $33.00 in a research note to investors on Thursday, August 1st. They now have an “overweight” rating on the stock.
Ten research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Symantec Corp. currently has an average rating of “Buy” and an average target price of $26.82.
Symantec Corp. (NASDAQ:SYMC) traded down 1.16% on Thursday, hitting $24.966. The stock had a trading volume of 8,530,655 shares. Symantec Corp. has a 52 week low of $17.02 and a 52 week high of $27.10. The stock has a 50-day moving average of $25.88 and a 200-day moving average of $24.22. The company has a market cap of $17.442 billion and a price-to-earnings ratio of 23.37.
Symantec Corp. (NASDAQ:SYMC) last released its earnings data on Tuesday, July 30th. The company reported $0.44 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.36 by $0.08. The company had revenue of $1.71 billion for the quarter, compared to the consensus estimate of $1.64 billion. During the same quarter last year, the company posted $0.43 earnings per share. Symantec Corp.’s revenue was up 2.5% compared to the same quarter last year. On average, analysts predict that Symantec Corp. will post $1.89 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Wednesday, September 18th. Investors of record on Monday, August 26th will be given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 2.40%. The ex-dividend date of this dividend is Thursday, August 22nd.
Symantec Corporation is a global provider of security, storage, and systems management solutions that help businesses and consumers secure and manage their information.
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