Riverhead Capital Management LLC decreased its holdings in Symantec Co. (NASDAQ:SYMC) by 51.9% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 33,888 shares of the technology company’s stock after selling 36,500 shares during the period. Riverhead Capital Management LLC’s holdings in Symantec were worth $738,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. FinTrust Capital Advisors LLC increased its holdings in shares of Symantec by 995.1% during the 2nd quarter. FinTrust Capital Advisors LLC now owns 1,347 shares of the technology company’s stock worth $29,000 after acquiring an additional 1,224 shares during the last quarter. Arcadia Investment Management Corp MI acquired a new stake in Symantec during the 2nd quarter valued at $39,000. Cullen Frost Bankers Inc. bought a new position in Symantec during the second quarter worth $57,000. Mizuho Securities Co. Ltd. bought a new position in Symantec during the first quarter worth $76,000. Finally, CX Institutional increased its holdings in shares of Symantec by 40.0% in the second quarter. CX Institutional now owns 3,937 shares of the technology company’s stock valued at $86,000 after purchasing an additional 1,124 shares during the last quarter. 92.58% of the stock is owned by institutional investors.

In related news, Director Peter A. Feld acquired 1,325,814 shares of the company’s stock in a transaction on Wednesday, August 14th. The stock was purchased at an average cost of $22.95 per share, with a total value of $30,427,431.30. Following the acquisition, the director now directly 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 owned by company insiders.

Shares of SYMC stock traded up $0.31 on Wednesday, hitting $24.74. The company’s stock had a trading volume of 80,059 shares, compared to its average volume of 7,214,029. Symantec Co. has a fifty-two week low of $17.42 and a fifty-two week high of $26.07. The company has a market capitalization of $15.09 billion, a PE ratio of 21.03, a PEG ratio of 2.68 and a beta of 1.30. The stock’s 50 day moving average is $22.86 and its 200-day moving average is $22.33. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.71 and a current ratio of 0.71.

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 consensus estimate of $0.32 by $0.11. The business had revenue of $1.25 billion during 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 business’s revenue was up 7.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.34 EPS. On average, research analysts forecast that Symantec Co. will post 1.33 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 18th. Shareholders of record on Monday, August 26th will be paid a dividend of $0.075 per share. The ex-dividend date is Friday, August 23rd. This represents a $0.30 dividend on an annualized basis and a yield of 1.21%. Symantec’s dividend payout ratio (DPR) is presently 25.64%.

Several equities analysts have recently weighed in on SYMC shares. Evercore ISI set a $22.00 price objective on shares of Symantec and gave the company a “hold” rating in a research report on Friday, August 9th. Zacks Investment Research raised shares of Symantec from a “sell” rating to a “hold” rating in a report on Wednesday, May 15th. Mizuho upgraded shares of Symantec from a “neutral” rating to a “buy” rating and upped their price target for the company from $22.00 to $23.00 in a research note on Monday, June 17th. ValuEngine cut shares of Symantec from a “hold” rating to a “sell” rating in a report on Tuesday, August 6th. Finally, Robert W. Baird restated a “hold” rating and set a $22.00 price objective on shares of Symantec in a research report on Tuesday, May 28th. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and two have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $22.75.

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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Institutional Ownership by Quarter for Symantec (NASDAQ:SYMC)

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