Stifel Nicolaus restated their hold rating on shares of Symantec Co. (NASDAQ:SYMC) in a report issued on Thursday, May 11th. They currently have a $29.00 target price on the technology company’s stock, up from their previous target price of $28.00.
Other equities analysts have also issued reports about the company. Zacks Investment Research upgraded Symantec from a sell rating to a hold rating in a research note on Wednesday, April 5th. Wunderlich restated a buy rating and issued a $30.00 target price on shares of Symantec in a research note on Tuesday, January 31st. JMP Securities upped their target price on Symantec to $32.00 in a research note on Thursday, February 2nd. Royal Bank of Canada restated an outperform rating and issued a $30.00 target price (up from $28.00) on shares of Symantec in a research note on Monday, January 30th. Finally, OTR Global upgraded Symantec to a positive rating in a research report on Friday, April 21st. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating and twelve have assigned a buy rating to the company. The company currently has a consensus rating of Hold and a consensus target price of $30.14.
Shares of Symantec (NASDAQ:SYMC) opened at 30.07 on Thursday. The firm’s market cap is $18.29 billion. The stock has a 50 day moving average of $30.90 and a 200 day moving average of $28.30. Symantec has a 52 week low of $17.13 and a 52 week high of $33.22.
Symantec (NASDAQ:SYMC) last released its quarterly earnings data on Wednesday, May 10th. The technology company reported $0.28 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.28. Symantec had a return on equity of 12.69% and a net margin of 55.12%. The company had revenue of $1.18 billion for the quarter, compared to analyst estimates of $1.18 billion. During the same period in the previous year, the company posted $0.22 EPS. The firm’s revenue for the quarter was up 34.7% compared to the same quarter last year. Analysts anticipate that Symantec will post $1.78 earnings per share for the current fiscal year.
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The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 21st. Stockholders of record on Wednesday, June 7th will be given a dividend of $0.075 per share. This represents a $0.30 dividend on an annualized basis and a dividend yield of 1.00%. The ex-dividend date is Monday, June 5th. Symantec’s payout ratio is presently 9.35%.
In related news, Director Suzanne M. Vautrinot sold 2,500 shares of the company’s stock in a transaction on Monday, April 3rd. The stock was sold at an average price of $30.69, for a total value of $76,725.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CAO Mark S. Garfield sold 3,002 shares of the company’s stock in a transaction on Wednesday, March 8th. The shares were sold at an average price of $29.25, for a total value of $87,808.50. Following the completion of the transaction, the chief accounting officer now directly owns 63,508 shares in the company, valued at $1,857,609. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 111,826 shares of company stock worth $3,433,823. Insiders own 0.76% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in SYMC. Advisor Group Inc. increased its position in Symantec by 18.3% in the third quarter. Advisor Group Inc. now owns 4,636 shares of the technology company’s stock valued at $117,000 after buying an additional 717 shares during the last quarter. Advisory Services Network LLC bought a new stake in shares of Symantec during the first quarter valued at $142,000. Johnson Financial Group Inc. increased its stake in shares of Symantec by 5.6% in the fourth quarter. Johnson Financial Group Inc. now owns 4,881 shares of the technology company’s stock valued at $117,000 after buying an additional 260 shares in the last quarter. Intellectus Partners LLC bought a new stake in shares of Symantec during the fourth quarter valued at $124,000. Finally, IFP Advisors Inc increased its stake in shares of Symantec by 0.3% in the first quarter. IFP Advisors Inc now owns 6,283 shares of the technology company’s stock valued at $193,000 after buying an additional 19 shares in the last quarter. 93.90% of the stock is currently owned by hedge funds and other institutional investors.
Symantec Company Profile
Symantec Corporation is a United States-based cyber security company. The Company offers products under categories, such as threat protection, information protection, cyber security services and Website security. 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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