Lord Abbett & CO. LLC reduced its position in Symantec Corporation (NASDAQ:SYMC) by 15.0% during the 2nd quarter, according to its most recent filing with the SEC. The firm owned 132,800 shares of the technology company’s stock after selling 23,500 shares during the quarter. Lord Abbett & CO. LLC’s holdings in Symantec Corporation were worth $3,752,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently made changes to their positions in SYMC. Thrivent Financial For Lutherans increased its stake in Symantec Corporation by 6.5% in the 1st quarter. Thrivent Financial For Lutherans now owns 23,104 shares of the technology company’s stock valued at $709,000 after buying an additional 1,420 shares during the period. Achmea Investment Management B.V. acquired a new position in Symantec Corporation in the 1st quarter valued at $325,000. Xact Kapitalforvaltning AB increased its stake in Symantec Corporation by 1.8% in the 2nd quarter. Xact Kapitalforvaltning AB now owns 89,936 shares of the technology company’s stock valued at $2,541,000 after buying an additional 1,586 shares during the period. Charter Trust Co. increased its stake in Symantec Corporation by 9.0% in the 2nd quarter. Charter Trust Co. now owns 40,601 shares of the technology company’s stock valued at $1,147,000 after buying an additional 3,366 shares during the period. Finally, Capstone Asset Management Co. increased its stake in Symantec Corporation by 2.1% in the 2nd quarter. Capstone Asset Management Co. now owns 51,974 shares of the technology company’s stock valued at $1,468,000 after buying an additional 1,081 shares during the period. 91.41% of the stock is currently owned by institutional investors.

Several equities analysts have issued reports on SYMC shares. BidaskClub raised shares of Symantec Corporation from a “hold” rating to a “buy” rating in a research note on Wednesday, July 12th. Zacks Investment Research raised shares of Symantec Corporation from a “strong sell” rating to a “buy” rating and set a $32.00 price target on the stock in a research note on Tuesday, July 11th. Piper Jaffray Companies reaffirmed a “buy” rating and set a $40.00 price target on shares of Symantec Corporation in a research note on Tuesday, September 12th. Morgan Stanley cut shares of Symantec Corporation from an “overweight” rating to an “equal weight” rating and lowered their price target for the stock from $37.00 to $34.00 in a research note on Tuesday, October 10th. Finally, Evercore ISI set a $25.00 price target on shares of Symantec Corporation and gave the stock a “hold” rating in a research note on Thursday, August 3rd. Three research analysts have rated the stock with a sell rating, sixteen have given a hold rating and ten have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $31.52.

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In other Symantec Corporation news, insider Michael David Fey sold 1,348,831 shares of the firm’s stock in a transaction dated Tuesday, August 8th. The stock was sold at an average price of $28.84, for a total transaction of $38,900,286.04. Following the completion of the sale, the insider now directly owns 1,605,757 shares in the company, valued at approximately $46,310,031.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Amy L. Cappellanti-Wolf sold 2,163 shares of the firm’s stock in a transaction dated Tuesday, September 5th. The stock was sold at an average price of $29.85, for a total value of $64,565.55. Following the sale, the senior vice president now owns 115,997 shares of the company’s stock, valued at $3,462,510.45. The disclosure for this sale can be found here. Insiders sold a total of 1,645,816 shares of company stock worth $47,911,129 in the last three months. 1.30% of the stock is currently owned by company insiders.

Symantec Corporation (SYMC) opened at 32.41 on Tuesday. The stock’s market capitalization is $19.86 billion. The firm has a 50-day moving average of $32.75 and a 200-day moving average of $30.68. Symantec Corporation has a 12-month low of $22.76 and a 12-month high of $34.20.

Symantec Corporation (NASDAQ:SYMC) last issued its quarterly earnings results on Wednesday, August 2nd. The technology company reported $0.15 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.12 by $0.03. The firm had revenue of $1.23 billion for the quarter, compared to analysts’ expectations of $1.20 billion. Symantec Corporation had a positive return on equity of 10.73% and a negative net margin of 8.68%. Symantec Corporation’s revenue was up 38.9% on a year-over-year basis. During the same quarter last year, the business posted $0.29 EPS. Equities research analysts forecast that Symantec Corporation will post $1.80 earnings per share for the current fiscal year.

Symantec Corporation 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.

Institutional Ownership by Quarter for Symantec Corporation (NASDAQ:SYMC)

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