Guggenheim Capital LLC boosted its position in shares of Symantec Co. (NASDAQ:SYMC) by 24.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 2,118,026 shares of the technology company’s stock after acquiring an additional 417,636 shares during the quarter. Guggenheim Capital LLC owned 0.34% of Symantec worth $59,433,000 at the end of the most recent reporting period.
Other institutional investors have also recently bought and sold shares of the company. Raymond James Financial Services Advisors Inc. grew its holdings in Symantec by 6.7% during the third quarter. Raymond James Financial Services Advisors Inc. now owns 27,997 shares of the technology company’s stock valued at $919,000 after purchasing an additional 1,762 shares during the period. Ledyard National Bank grew its holdings in Symantec by 13.6% during the fourth quarter. Ledyard National Bank now owns 15,870 shares of the technology company’s stock valued at $445,000 after purchasing an additional 1,905 shares during the period. Bessemer Group Inc. grew its holdings in Symantec by 22.8% during the third quarter. Bessemer Group Inc. now owns 11,435 shares of the technology company’s stock valued at $375,000 after purchasing an additional 2,124 shares during the period. Advisor Partners LLC grew its holdings in Symantec by 19.3% during the fourth quarter. Advisor Partners LLC now owns 13,419 shares of the technology company’s stock valued at $368,000 after purchasing an additional 2,173 shares during the period. Finally, Retirement Systems of Alabama grew its holdings in Symantec by 0.8% during the fourth quarter. Retirement Systems of Alabama now owns 300,450 shares of the technology company’s stock valued at $8,431,000 after purchasing an additional 2,305 shares during the period. Institutional investors own 95.37% of the company’s stock.
In related news, EVP Francis C. Rosch sold 51,899 shares of the stock in a transaction that occurred on Monday, March 5th. The stock was sold at an average price of $26.59, for a total transaction of $1,379,994.41. Following the completion of the transaction, the executive vice president now directly owns 213,026 shares of the company’s stock, valued at $5,664,361.34. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Suzanne M. Vautrinot sold 4,000 shares of the stock in a transaction that occurred on Friday, March 9th. The shares were sold at an average price of $27.72, for a total value of $110,880.00. The disclosure for this sale can be found here. 1.30% of the stock is currently owned by corporate insiders.
Symantec (NASDAQ:SYMC) last announced its quarterly earnings results on Wednesday, January 31st. The technology company reported $0.49 EPS for the quarter, beating analysts’ consensus estimates of $0.44 by $0.05. Symantec had a return on equity of 14.26% and a net margin of 22.24%. The company had revenue of $1.23 billion during the quarter, compared to analyst estimates of $1.27 billion. During the same period in the prior year, the company earned $0.32 earnings per share. The firm’s revenue was up 13.4% on a year-over-year basis. equities analysts anticipate that Symantec Co. will post 0.99 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 14th. Investors of record on Tuesday, February 20th will be paid a dividend of $0.075 per share. This represents a $0.30 dividend on an annualized basis and a yield of 1.10%. The ex-dividend date is Friday, February 16th. Symantec’s payout ratio is presently 19.48%.
SYMC has been the subject of several recent research reports. BidaskClub lowered Symantec from a “sell” rating to a “strong sell” rating in a report on Saturday, January 13th. Credit Suisse Group lowered Symantec from an “outperform” rating to a “neutral” rating and cut their price target for the company from $36.00 to $30.00 in a report on Monday, January 22nd. Deutsche Bank initiated coverage on Symantec in a research note on Tuesday, December 19th. They issued a “hold” rating and a $30.00 price objective for the company. Zacks Investment Research raised Symantec from a “sell” rating to a “hold” rating in a research note on Tuesday, January 2nd. Finally, Barclays dropped their price objective on Symantec from $36.00 to $34.00 and set an “overweight” rating for the company in a research note on Thursday, February 1st. Three analysts have rated the stock with a sell rating, seventeen have issued a hold rating and seven have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $30.87.
Symantec Corporation is a United States-based cyber security company. The Company offers products under categories, such as threat protection, information protection and cyber security services. 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.
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