Brown Advisory Inc. raised its stake in shares of Symantec Co. (NASDAQ:SYMC) by 34.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 316,517 shares of the technology company’s stock after purchasing an additional 81,425 shares during the quarter. Brown Advisory Inc.’s holdings in Symantec were worth $5,981,000 at the end of the most recent reporting period.
A number of other institutional investors also recently modified their holdings of SYMC. Starboard Value LP purchased a new position in Symantec during the 3rd quarter valued at $521,398,000. Capital International Investors purchased a new position in Symantec during the 3rd quarter valued at $222,769,000. Bank of Nova Scotia increased its position in Symantec by 299.8% during the 4th quarter. Bank of Nova Scotia now owns 2,858,792 shares of the technology company’s stock valued at $54,015,000 after purchasing an additional 2,143,686 shares during the period. Pictet Asset Management Ltd. increased its position in Symantec by 61.0% during the 3rd quarter. Pictet Asset Management Ltd. now owns 5,140,105 shares of the technology company’s stock valued at $109,381,000 after purchasing an additional 1,948,400 shares during the period. Finally, AQR Capital Management LLC increased its position in Symantec by 533.3% during the 3rd quarter. AQR Capital Management LLC now owns 2,057,883 shares of the technology company’s stock valued at $43,792,000 after purchasing an additional 1,732,918 shares during the period. 90.20% of the stock is currently owned by institutional investors and hedge funds.
A number of brokerages have issued reports on SYMC. Evercore ISI reissued a “hold” rating and set a $22.00 price objective on shares of Symantec in a research report on Monday, February 4th. Zacks Investment Research downgraded shares of Symantec from a “buy” rating to a “hold” rating in a research report on Saturday, February 2nd. Credit Suisse Group reissued a “hold” rating and set a $23.00 price objective on shares of Symantec in a research report on Friday, February 1st. Robert W. Baird reissued a “hold” rating and set a $25.00 price objective on shares of Symantec in a research report on Friday, February 1st. Finally, ValuEngine downgraded shares of Symantec from a “buy” rating to a “hold” rating in a research report on Tuesday, December 25th. Two equities research analysts have rated the stock with a sell rating, twenty have issued a hold rating and three have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $22.49.
In related news, EVP Samir Kapuria sold 45,455 shares of the company’s stock in a transaction dated Thursday, February 14th. The shares were sold at an average price of $23.05, for a total value of $1,047,737.75. Following the transaction, the executive vice president now owns 313,931 shares in the company, valued at approximately $7,236,109.55. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Nicholas R. Noviello sold 332,155 shares of the company’s stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $22.50, for a total transaction of $7,473,487.50. Following the completion of the transaction, the chief financial officer now owns 880,695 shares in the company, valued at approximately $19,815,637.50. The disclosure for this sale can be found here. In the last quarter, insiders sold 401,324 shares of company stock worth $9,061,631. 1.90% of the stock is currently owned by company insiders.
NASDAQ:SYMC opened at $23.02 on Friday. The stock has a market capitalization of $14.71 billion, a PE ratio of 24.23, a price-to-earnings-growth ratio of 2.45 and a beta of 1.09. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.75. Symantec Co. has a 1-year low of $17.42 and a 1-year high of $29.20.
Symantec (NASDAQ:SYMC) last released its earnings results on Thursday, January 31st. The technology company reported $0.44 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.39 by $0.05. The firm had revenue of $1.22 billion for the quarter, compared to the consensus estimate of $1.18 billion. Symantec had a negative net margin of 0.86% and a positive return on equity of 13.24%. During the same period in the prior year, the firm earned $0.49 EPS. On average, analysts forecast that Symantec Co. will post 1.16 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 13th. Stockholders of record on Tuesday, February 19th were given a $0.075 dividend. This represents a $0.30 dividend on an annualized basis and a dividend yield of 1.30%. The ex-dividend date was Friday, February 15th. Symantec’s dividend payout ratio is presently 31.58%.
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Symantec Company Profile
Symantec Corporation provides cybersecurity products, services, and solutions worldwide. The company operates through two segments, Enterprise Security and Consumer Digital Safety. The Enterprise Security segment provides endpoint and information protection products, including endpoint security, advanced threat protection, and information protection solutions and their related support services; and network and Web security products, such as network security, Web security, and cloud security solutions and their related support services.
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