State of Wisconsin Investment Board reduced its stake in Symantec Co. (NASDAQ:SYMC) by 7.2% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 693,503 shares of the technology company’s stock after selling 53,625 shares during the quarter. State of Wisconsin Investment Board owned approximately 0.11% of Symantec worth $14,321,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the business. Point72 Asia Hong Kong Ltd purchased a new position in shares of Symantec during the 1st quarter worth $109,000. Optimum Investment Advisors purchased a new position in shares of Symantec during the 1st quarter worth $129,000. Dupont Capital Management Corp grew its holdings in shares of Symantec by 117.9% during the 1st quarter. Dupont Capital Management Corp now owns 5,265 shares of the technology company’s stock worth $136,000 after purchasing an additional 2,849 shares during the period. Piedmont Investment Advisors LLC purchased a new position in shares of Symantec during the 2nd quarter worth $150,000. Finally, Cerebellum GP LLC grew its holdings in shares of Symantec by 47.9% during the 2nd quarter. Cerebellum GP LLC now owns 8,295 shares of the technology company’s stock worth $171,000 after purchasing an additional 2,685 shares during the period. Institutional investors own 95.21% of the company’s stock.

SYMC opened at $19.41 on Friday. Symantec Co. has a 12-month low of $17.81 and a 12-month high of $34.20. The company has a current ratio of 1.16, a quick ratio of 1.15 and a debt-to-equity ratio of 0.85. The stock has a market cap of $11.92 billion, a P/E ratio of 20.43, a PEG ratio of 2.70 and a beta of 0.67.

Symantec (NASDAQ:SYMC) last posted its earnings results on Thursday, August 2nd. The technology company reported $0.34 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.33 by $0.01. Symantec had a return on equity of 14.54% and a net margin of 25.52%. The firm had revenue of $1.17 billion for the quarter, compared to analyst estimates of $1.15 billion. During the same quarter in the prior year, the company earned $0.33 EPS. Symantec’s revenue was up 3.3% on a year-over-year basis. equities analysts forecast that Symantec Co. will post 0.9 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 12th. Investors of record on Monday, August 20th will be paid a dividend of $0.075 per share. This represents a $0.30 annualized dividend and a yield of 1.55%. The ex-dividend date is Friday, August 17th. Symantec’s payout ratio is 31.58%.

A number of equities analysts have recently weighed in on SYMC shares. Morgan Stanley lowered their price target on Symantec from $26.00 to $23.00 and set an “equal weight” rating for the company in a report on Monday, June 25th. Jefferies Financial Group lowered their price target on Symantec to $20.00 and set an “underperform” rating for the company in a report on Friday, May 11th. Goldman Sachs Group cut Symantec from a “buy” rating to a “neutral” rating in a report on Wednesday, May 16th. Bank of America lowered their price target on Symantec from $21.00 to $19.00 and set an “underperform” rating for the company in a report on Monday, July 30th. Finally, BTIG Research cut Symantec from a “buy” rating to a “neutral” rating in a report on Friday, May 11th. Five equities research analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and two have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $25.23.

About Symantec

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.

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Institutional Ownership by Quarter for Symantec (NASDAQ:SYMC)

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