Alpine Group USVI LLC acquired a new stake in shares of Symantec Co. (NASDAQ:SYMC) in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 110,000 shares of the technology company’s stock, valued at approximately $2,599,000. Symantec comprises 0.7% of Alpine Group USVI LLC’s holdings, making the stock its 22nd largest position.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Cerebellum GP LLC bought a new stake in Symantec in the third quarter valued at about $424,000. Gulf International Bank UK Ltd increased its stake in Symantec by 1.2% in the third quarter. Gulf International Bank UK Ltd now owns 159,558 shares of the technology company’s stock valued at $3,770,000 after acquiring an additional 1,825 shares during the period. Fulton Bank N.A. bought a new stake in Symantec in the third quarter valued at about $341,000. State of Alaska Department of Revenue increased its stake in Symantec by 90.9% in the third quarter. State of Alaska Department of Revenue now owns 281,537 shares of the technology company’s stock valued at $6,652,000 after acquiring an additional 134,032 shares during the period. Finally, Rehmann Capital Advisory Group increased its stake in Symantec by 98.9% in the second quarter. Rehmann Capital Advisory Group now owns 2,960 shares of the technology company’s stock valued at $64,000 after acquiring an additional 1,472 shares during the period. 90.63% of the stock is owned by institutional investors and hedge funds.
In other news, Director Peter A. Feld acquired 1,325,814 shares of the firm’s stock in a transaction on Wednesday, August 14th. The shares were purchased at an average cost of $22.95 per share, with a total value of $30,427,431.30. Following the completion of the purchase, the director now owns 24,685 shares of the company’s stock, valued at $566,520.75. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 1.90% of the stock is currently owned by corporate insiders.
Symantec stock traded up $0.07 during trading hours on Friday, hitting $23.56. 580,794 shares of the stock were exchanged, compared to its average volume of 5,349,325. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.71 and a current ratio of 0.71. The stock has a market capitalization of $14.52 billion, a P/E ratio of 20.19, a P/E/G ratio of 3.24 and a beta of 1.29. Symantec Co. has a 12 month low of $17.42 and a 12 month high of $26.07. The business’s 50-day moving average is $23.68 and its two-hundred day moving average is $22.50.
Symantec (NASDAQ:SYMC) last issued its quarterly earnings data on Thursday, August 8th. The technology company reported $0.43 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.32 by $0.11. The firm had revenue of $1.25 billion for the quarter, compared to analysts’ expectations of $1.19 billion. Symantec had a net margin of 2.43% and a return on equity of 14.94%. The company’s quarterly revenue was up 7.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.34 earnings per share. On average, equities analysts predict that Symantec Co. will post 1.33 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 18th. Shareholders of record on Monday, August 26th were paid a dividend of $0.075 per share. The ex-dividend date of this dividend was Friday, August 23rd. This represents a $0.30 annualized dividend and a yield of 1.27%. Symantec’s dividend payout ratio is 25.64%.
A number of research firms recently weighed in on SYMC. Evercore ISI set a $22.00 target price on shares of Symantec and gave the company a “hold” rating in a research note on Friday, August 9th. Monness Crespi & Hardt began coverage on shares of Symantec in a research note on Wednesday, July 10th. They issued a “neutral” rating on the stock. Wedbush set a $19.00 target price on shares of Symantec and gave the company a “hold” rating in a research note on Monday, July 15th. Argus reissued a “hold” rating on shares of Symantec in a research note on Tuesday, August 13th. Finally, Morgan Stanley raised shares of Symantec from an “underweight” rating to an “equal weight” rating and set a $27.00 target price on the stock in a research note on Friday, August 9th. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and two have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $22.82.
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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