Insider Selling: Symantec Corporation (SYMC) Director Sells 2,000 Shares of Stock
Symantec Corporation (NASDAQ:SYMC) Director Anita M. Sands sold 2,000 shares of the stock in a transaction dated Monday, July 17th. The stock was sold at an average price of $30.40, for a total transaction of $60,800.00. Following the completion of the transaction, the director now directly owns 41,386 shares of the company’s stock, valued at approximately $1,258,134.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
Symantec Corporation (NASDAQ SYMC) traded up 0.16% during mid-day trading on Tuesday, hitting $30.57. 4,351,541 shares of the stock traded hands. The company has a 50 day moving average price of $29.63 and a 200-day moving average price of $28.82. Symantec Corporation has a one year low of $20.06 and a one year high of $33.22. The stock’s market capitalization is $18.59 billion.
Symantec Corporation (NASDAQ:SYMC) last released its quarterly earnings data on Wednesday, May 10th. The technology company reported $0.28 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.28. The business had revenue of $1.18 billion during the quarter, compared to analysts’ expectations of $1.18 billion. Symantec Corporation had a negative net margin of 2.64% and a positive return on equity of 11.06%. The firm’s quarterly revenue was up 34.7% compared to the same quarter last year. During the same period in the prior year, the company earned $0.22 EPS. Equities analysts anticipate that Symantec Corporation will post $1.79 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 21st. Shareholders of record on Wednesday, June 7th were given a $0.075 dividend. This represents a $0.30 annualized dividend and a yield of 0.98%. The ex-dividend date was Monday, June 5th. Symantec Corporation’s dividend payout ratio (DPR) is currently -176.47%.
A number of institutional investors have recently made changes to their positions in the stock. BlackRock Inc. boosted its position in shares of Symantec Corporation by 2,815.1% in the first quarter. BlackRock Inc. now owns 40,975,309 shares of the technology company’s stock valued at $1,257,121,000 after buying an additional 39,569,694 shares during the period. Dodge & Cox acquired a new position in shares of Symantec Corporation during the fourth quarter valued at about $180,155,000. FMR LLC boosted its position in shares of Symantec Corporation by 41.9% in the first quarter. FMR LLC now owns 10,420,611 shares of the technology company’s stock valued at $319,703,000 after buying an additional 3,076,263 shares during the period. Janus Capital Management LLC boosted its position in shares of Symantec Corporation by 32.2% in the first quarter. Janus Capital Management LLC now owns 7,033,459 shares of the technology company’s stock valued at $215,787,000 after buying an additional 1,714,844 shares during the period. Finally, Vanguard Group Inc. boosted its position in shares of Symantec Corporation by 2.7% in the first quarter. Vanguard Group Inc. now owns 60,438,125 shares of the technology company’s stock valued at $1,854,242,000 after buying an additional 1,611,647 shares during the period. Hedge funds and other institutional investors own 94.02% of the company’s stock.
Several research analysts recently issued reports on the stock. Morgan Stanley reissued an “overweight” rating and issued a $37.00 price target on shares of Symantec Corporation in a research report on Thursday, July 13th. BidaskClub raised shares of Symantec Corporation from a “hold” rating to a “buy” rating in a research report on Wednesday, July 12th. Zacks Investment Research raised shares of Symantec Corporation from a “strong sell” rating to a “buy” rating and set a $32.00 price target for the company in a research report on Tuesday, July 11th. Standpoint Research raised shares of Symantec Corporation from a “hold” rating to a “buy” rating in a research report on Thursday, June 29th. Finally, Evercore ISI set a $25.00 price target on shares of Symantec Corporation and gave the stock a “hold” rating in a research report on Saturday, June 10th. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and fifteen have given a buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $30.79.
About Symantec Corporation
Symantec Corporation is a United States-based cyber security company. The Company offers products under categories, such as threat protection, information protection, cyber security services and Website security. Under threat protection, it offers Advanced Threat Protection, Endpoint Protection, Endpoint Protection Cloud, IT Management Suite, Email Security.Cloud, Data Center Security and Cloud Workload Protection products.
Receive News & Ratings for Symantec Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Symantec Corporation and related companies with MarketBeat.com's FREE daily email newsletter.