Symantec (NASDAQ:SYMC) Upgraded by BidaskClub to “Hold”
SYMC has been the topic of several other reports. Morgan Stanley raised Symantec from an underweight rating to an equal weight rating and set a $27.00 price objective on the stock in a research note on Friday, August 9th. Wedbush set a $19.00 target price on Symantec and gave the company a hold rating in a research report on Monday, July 15th. Monness Crespi & Hardt began coverage on Symantec in a research report on Wednesday, July 10th. They issued a neutral rating for the company. William Blair reiterated a market perform rating on shares of Symantec in a research report on Friday, August 9th. Finally, Argus reiterated a hold rating on shares of Symantec in a research report on Tuesday, August 13th. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating and two have assigned a buy rating to the company. The stock has a consensus rating of Hold and an average target price of $22.82.
NASDAQ:SYMC traded down $0.14 during trading hours on Thursday, hitting $23.42. The company’s stock had a trading volume of 2,561,000 shares, compared to its average volume of 6,954,571. The stock has a fifty day simple moving average of $23.68 and a 200-day simple moving average of $22.50. The company has a market capitalization of $14.52 billion, a P/E ratio of 20.02, a PEG ratio of 3.28 and a beta of 1.29. The company has a debt-to-equity ratio of 0.79, a current ratio of 0.71 and a quick ratio of 0.71. Symantec has a twelve month low of $17.42 and a twelve month high of $26.07.
The company also recently announced a quarterly dividend, which was paid on Wednesday, September 18th. Shareholders of record on Monday, August 26th were given a $0.075 dividend. The ex-dividend date of this dividend was Friday, August 23rd. This represents a $0.30 annualized dividend and a yield of 1.28%. Symantec’s dividend payout ratio is presently 25.64%.
In other news, EVP Samir Kapuria sold 9,674 shares of the firm’s stock in a transaction dated Thursday, October 10th. The stock was sold at an average price of $23.47, for a total transaction of $227,048.78. Following the completion of the transaction, the executive vice president now directly owns 387,166 shares in the company, valued at $9,086,786.02. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Peter A. Feld acquired 1,325,814 shares of the stock in a transaction dated Wednesday, August 14th. The shares were bought at an average price of $22.95 per share, with a total value of $30,427,431.30. Following the completion of the transaction, the director now directly owns 24,685 shares of the company’s stock, valued at $566,520.75. The disclosure for this purchase can be found here. 1.90% of the stock is currently owned by company insiders.
Several institutional investors and hedge funds have recently modified their holdings of SYMC. State of Tennessee Treasury Department raised its position in shares of Symantec by 26.3% during the first quarter. State of Tennessee Treasury Department now owns 209,188 shares of the technology company’s stock worth $4,809,000 after acquiring an additional 43,624 shares during the last quarter. Jacobs Levy Equity Management Inc. raised its position in shares of Symantec by 19.1% during the first quarter. Jacobs Levy Equity Management Inc. now owns 1,066,706 shares of the technology company’s stock worth $24,524,000 after acquiring an additional 171,000 shares during the last quarter. Bayesian Capital Management LP bought a new position in shares of Symantec during the first quarter worth about $2,846,000. AQR Capital Management LLC raised its position in shares of Symantec by 9.9% during the first quarter. AQR Capital Management LLC now owns 13,861,111 shares of the technology company’s stock worth $317,281,000 after acquiring an additional 1,249,429 shares during the last quarter. Finally, Nordea Investment Management AB raised its position in shares of Symantec by 240.1% during the first quarter. Nordea Investment Management AB now owns 232,163 shares of the technology company’s stock worth $5,338,000 after acquiring an additional 163,905 shares during the last quarter. Institutional investors own 90.67% of the company’s stock.
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.
Further Reading: Rule of 72
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