Royal London Asset Management Ltd. reduced its position in Symantec Co. (NASDAQ:SYMC) by 4.1% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 253,360 shares of the technology company’s stock after selling 10,874 shares during the period. Royal London Asset Management Ltd.’s holdings in Symantec were worth $5,393,000 as of its most recent SEC filing.
Other institutional investors have also recently made changes to their positions in the company. Steward Partners Investment Advisory LLC increased its holdings in Symantec by 355.7% in the third quarter. Steward Partners Investment Advisory LLC now owns 6,129 shares of the technology company’s stock valued at $130,000 after buying an additional 4,784 shares during the last quarter. Piedmont Investment Advisors LLC bought a new position in shares of Symantec during the second quarter valued at approximately $150,000. Advisor Partners LLC bought a new position in shares of Symantec during the third quarter valued at approximately $218,000. American Century Companies Inc. bought a new position in shares of Symantec during the third quarter valued at approximately $223,000. Finally, Edge Wealth Management LLC grew its holdings in shares of Symantec by 498.7% during the third quarter. Edge Wealth Management LLC now owns 12,015 shares of the technology company’s stock valued at $256,000 after purchasing an additional 10,008 shares during the last quarter. 90.66% of the stock is owned by hedge funds and other institutional investors.
Several equities analysts have recently commented on the company. ValuEngine raised Symantec from a “hold” rating to a “buy” rating in a report on Friday, November 16th. BidaskClub raised Symantec from a “hold” rating to a “buy” rating in a report on Saturday, November 17th. Zacks Investment Research reaffirmed a “sell” rating on shares of Symantec in a report on Friday, November 16th. Evercore ISI reiterated a “hold” rating and set a $22.00 price objective on shares of Symantec in a research report on Sunday, November 11th. Finally, Stifel Nicolaus boosted their price objective on Symantec from $20.00 to $22.00 and gave the stock a “hold” rating in a research report on Tuesday, September 25th. Three research analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and four have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $23.11.
Symantec (NASDAQ:SYMC) last released its earnings results on Thursday, November 1st. The technology company reported $0.42 earnings per share for the quarter, topping analysts’ consensus estimates of $0.33 by $0.09. The firm had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $1.14 billion. Symantec had a return on equity of 13.99% and a net margin of 25.95%. The firm’s revenue for the quarter was down 7.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.40 earnings per share. On average, analysts predict that Symantec Co. will post 1 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 12th. Shareholders of record on Monday, November 19th will be given a $0.075 dividend. The ex-dividend date is Friday, November 16th. This represents a $0.30 dividend on an annualized basis and a yield of 1.38%. Symantec’s dividend payout ratio (DPR) is 31.58%.
Symantec Company Profile
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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