State Board of Administration of Florida Retirement System decreased its stake in shares of Symantec Co. (NASDAQ:SYMC) by 1.4% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 882,825 shares of the technology company’s stock after selling 12,693 shares during the quarter. State Board of Administration of Florida Retirement System owned about 0.14% of Symantec worth $18,787,000 at the end of the most recent reporting period.
A number of other institutional investors also recently modified their holdings of the business. Steward Partners Investment Advisory LLC increased its stake in shares of Symantec by 355.7% in the third quarter. Steward Partners Investment Advisory LLC now owns 6,129 shares of the technology company’s stock worth $130,000 after acquiring an additional 4,784 shares during the period. Piedmont Investment Advisors LLC acquired a new stake in shares of Symantec in the second quarter worth $150,000. Alambic Investment Management L.P. acquired a new stake in shares of Symantec in the second quarter worth $250,000. Edge Wealth Management LLC increased its stake in shares of Symantec by 498.7% in the third quarter. Edge Wealth Management LLC now owns 12,015 shares of the technology company’s stock worth $256,000 after acquiring an additional 10,008 shares during the period. Finally, NuWave Investment Management LLC increased its stake in shares of Symantec by 236.9% in the second quarter. NuWave Investment Management LLC now owns 12,649 shares of the technology company’s stock worth $261,000 after acquiring an additional 8,895 shares during the period. Institutional investors and hedge funds own 90.21% of the company’s stock.
SYMC opened at $22.25 on Friday. The company has a current ratio of 1.00, a quick ratio of 1.10 and a debt-to-equity ratio of 0.75. The firm has a market cap of $14.57 billion, a price-to-earnings ratio of 20.19, a P/E/G ratio of 2.90 and a beta of 0.90. Symantec Co. has a 52-week low of $17.49 and a 52-week high of $29.73.
Symantec (NASDAQ:SYMC) last posted its quarterly earnings data on Thursday, November 1st. The technology company reported $0.42 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.33 by $0.09. The business had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $1.14 billion. Symantec had a net margin of 25.95% and a return on equity of 13.99%. The company’s revenue was down 7.2% compared to the same quarter last year. During the same period last year, the firm posted $0.40 earnings per share. On average, research analysts anticipate that Symantec Co. will post 1 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 12th. Shareholders of record on Monday, November 19th will be issued a dividend of $0.075 per share. This represents a $0.30 annualized dividend and a yield of 1.35%. The ex-dividend date of this dividend is Friday, November 16th. Symantec’s payout ratio is 31.58%.
A number of brokerages recently issued reports on SYMC. Robert W. Baird increased their price target on shares of Symantec from $22.00 to $23.00 and gave the stock a “neutral” rating in a report on Friday, November 2nd. Wedbush increased their price target on shares of Symantec from $19.00 to $21.00 and gave the stock a “neutral” rating in a report on Friday, November 2nd. BidaskClub raised shares of Symantec from a “sell” rating to a “hold” rating in a report on Saturday, November 3rd. Barclays reissued a “hold” rating and set a $23.00 price target on shares of Symantec in a report on Sunday, November 4th. Finally, UBS Group lowered their price target on shares of Symantec from $23.00 to $21.00 and set a “neutral” rating on the stock in a report on Friday, August 3rd. Two equities research analysts have rated the stock with a sell rating, twenty-one have assigned a hold rating and three have given a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $23.11.
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Symantec Corporation, together with its subsidiaries, provides cybersecurity solutions worldwide. It operates through two segments, Consumer Digital Safety and Enterprise Security. The Consumer Digital Safety segment provides Norton-branded services that provide multi-layer security services across desktop and mobile operating systems, public Wi-Fi connections, and home networks to defend against online threats to individuals, families, and small businesses.
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