Insider Selling: Symantec Corporation (SYMC) CFO Sells 7,688 Shares of Stock
Symantec Corporation (NASDAQ:SYMC) CFO Nicholas R. Noviello sold 7,688 shares of the company’s stock in a transaction on Thursday, September 7th. The shares were sold at an average price of $30.00, for a total value of $230,640.00. Following the completion of the transaction, the chief financial officer now directly owns 190,319 shares in the company, valued at approximately $5,709,570. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.
Nicholas R. Noviello also recently made the following trade(s):
- On Monday, August 28th, Nicholas R. Noviello sold 14,925 shares of Symantec Corporation stock. The shares were sold at an average price of $30.00, for a total value of $447,750.00.
Symantec Corporation (NASDAQ SYMC) traded up 3.37% during midday trading on Friday, reaching $31.63. The company’s stock had a trading volume of 11,809,655 shares. The stock’s 50-day moving average price is $29.68 and its 200 day moving average price is $29.95. Symantec Corporation has a 1-year low of $22.76 and a 1-year high of $33.22. The firm’s market capitalization is $19.38 billion.
Symantec Corporation (NASDAQ:SYMC) last released its quarterly earnings data on Wednesday, August 2nd. The technology company reported $0.15 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.12 by $0.03. The business had revenue of $1.23 billion during the quarter, compared to analysts’ expectations of $1.20 billion. Symantec Corporation had a positive return on equity of 10.73% and a negative net margin of 8.68%. The business’s quarterly revenue was up 38.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.29 EPS. Equities analysts anticipate that Symantec Corporation will post $1.81 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 13th. Stockholders of record on Monday, August 21st will be given a dividend of $0.075 per share. The ex-dividend date is Thursday, August 17th. This represents a $0.30 annualized dividend and a dividend yield of 0.95%. Symantec Corporation’s dividend payout ratio is currently -49.18%.
Several equities analysts have commented on SYMC shares. First Analysis raised Symantec Corporation from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $28.00 to $40.00 in a research report on Thursday, May 11th. Robert W. Baird reaffirmed a “hold” rating on shares of Symantec Corporation in a research report on Thursday, May 11th. Stifel Nicolaus reaffirmed a “hold” rating and issued a $29.00 price objective (up previously from $28.00) on shares of Symantec Corporation in a research report on Thursday, May 11th. Citigroup Inc. reaffirmed a “neutral” rating and issued a $31.00 price objective (up previously from $29.00) on shares of Symantec Corporation in a research report on Thursday, May 11th. Finally, Jefferies Group LLC upped their price objective on Symantec Corporation from $29.00 to $31.00 and gave the company a “hold” rating in a research report on Thursday, May 11th. One equities research analyst has rated the stock with a sell rating, sixteen have issued a hold rating and fourteen have issued a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $31.30.
Large investors have recently added to or reduced their stakes in the company. Westpac Banking Corp boosted its position in shares of Symantec Corporation by 69.2% during the 1st quarter. Westpac Banking Corp now owns 60,637 shares of the technology company’s stock worth $1,115,000 after acquiring an additional 24,805 shares in the last quarter. Kwmg LLC boosted its position in shares of Symantec Corporation by 61.0% during the 1st quarter. Kwmg LLC now owns 56,378 shares of the technology company’s stock worth $1,730,000 after acquiring an additional 21,367 shares in the last quarter. Spirit of America Management Corp NY boosted its position in shares of Symantec Corporation by 9.9% during the 2nd quarter. Spirit of America Management Corp NY now owns 26,200 shares of the technology company’s stock worth $740,000 after acquiring an additional 2,350 shares in the last quarter. Municipal Employees Retirement System of Michigan boosted its position in shares of Symantec Corporation by 1.5% during the 1st quarter. Municipal Employees Retirement System of Michigan now owns 20,120 shares of the technology company’s stock worth $617,000 after acquiring an additional 290 shares in the last quarter. Finally, Affinity Investment Advisors LLC acquired a new position in shares of Symantec Corporation during the 2nd quarter worth about $6,839,000. 91.72% of the stock is owned by institutional investors and hedge funds.
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.