Eaton Vance Management reduced its stake in shares of Symantec Co. (NASDAQ:SYMC) by 15.9% in the third quarter, according to its most recent filing with the SEC. The fund owned 173,245 shares of the technology company’s stock after selling 32,661 shares during the period. Eaton Vance Management’s holdings in Symantec were worth $3,687,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Steward Partners Investment Advisory LLC raised its position in Symantec by 355.7% in the 3rd quarter. Steward Partners Investment Advisory LLC now owns 6,129 shares of the technology company’s stock worth $130,000 after purchasing an additional 4,784 shares during the period. Piedmont Investment Advisors LLC purchased a new position in Symantec in the 2nd quarter worth $150,000. Gideon Capital Advisors Inc. purchased a new position in Symantec in the 3rd quarter worth $207,000. Advisor Partners LLC purchased a new position in Symantec in the 3rd quarter worth $218,000. Finally, American Century Companies Inc. purchased a new position in Symantec in the 3rd quarter worth $223,000. 87.83% of the stock is owned by institutional investors.
A number of brokerages recently commented on SYMC. Zacks Investment Research reiterated a “sell” rating on shares of Symantec in a research report on Friday, November 16th. BidaskClub cut shares of Symantec from a “buy” rating to a “hold” rating in a research report on Friday, November 23rd. ValuEngine upgraded shares of Symantec from a “hold” rating to a “buy” rating in a research report on Friday, November 16th. Robert W. Baird lifted their target price on shares of Symantec from $22.00 to $23.00 and gave the stock a “neutral” rating in a research report on Friday, November 2nd. Finally, Barclays reiterated a “hold” rating and issued a $23.00 target price on shares of Symantec in a research report on Sunday, November 4th. Three research analysts have rated the stock with a sell rating, nineteen have given a hold rating and four have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $23.11.
SYMC stock opened at $21.78 on Friday. Symantec Co. has a 12-month low of $17.49 and a 12-month high of $29.73. The stock has a market capitalization of $14.03 billion, a price-to-earnings ratio of 22.93, a PEG ratio of 2.79 and a beta of 0.96. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.00 and a current ratio of 1.00.
Symantec (NASDAQ:SYMC) last released its quarterly earnings data on Thursday, November 1st. The technology company reported $0.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.33 by $0.09. Symantec had a net margin of 25.95% and a return on equity of 13.99%. The firm had revenue of $1.18 billion for the quarter, compared to analysts’ expectations of $1.14 billion. During the same quarter in the previous year, the company earned $0.40 earnings per share. The company’s revenue for the quarter was down 7.2% compared to the same quarter last year. As a group, equities analysts predict that Symantec Co. will post 1 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 12th. Shareholders of record on Monday, November 19th will be given a $0.075 dividend. This represents a $0.30 dividend on an annualized basis and a dividend yield of 1.38%. The ex-dividend date is Friday, November 16th. Symantec’s payout ratio is 31.58%.
Symantec Company Profile
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.
Further Reading: How are Outstanding Shares Different from Authorized Shares?
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