Wedbush set a $19.00 price target on Symantec (NASDAQ:SYMC) in a research note issued to investors on Monday, TipRanks reports. The brokerage currently has a hold rating on the technology company’s stock.
Several other brokerages also recently issued reports on SYMC. Goldman Sachs Group restated a neutral rating and issued a $393.00 price objective on shares of Boeing in a research report on Monday, April 8th. BidaskClub upgraded Misonix from a buy rating to a strong-buy rating in a research report on Wednesday, July 3rd. Mizuho set a $11.00 price objective on Teva Pharmaceutical Industries and gave the company a hold rating in a research report on Monday, June 17th. ValuEngine upgraded Vale from a sell rating to a hold rating in a research report on Tuesday. Finally, Morgan Stanley upped their price objective on from GBX 1,430 ($18.69) to GBX 1,560 ($20.38) and gave the company an equal weight rating in a research report on Tuesday, June 11th. Two equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and four have assigned a buy rating to the company. The company has a consensus rating of Hold and an average target price of $21.44.
Symantec stock traded down $0.89 during trading hours on Monday, hitting $22.68. The stock had a trading volume of 8,045,067 shares, compared to its average volume of 12,014,936. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.69. The company has a market cap of $14.57 billion, a PE ratio of 19.38, a price-to-earnings-growth ratio of 2.29 and a beta of 1.31. Symantec has a 1-year low of $17.42 and a 1-year high of $26.07. The firm has a fifty day simple moving average of $21.30.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 26th. Investors of record on Monday, June 10th were given a dividend of $0.075 per share. The ex-dividend date of this dividend was Friday, June 7th. This represents a $0.30 annualized dividend and a yield of 1.32%. Symantec’s dividend payout ratio (DPR) is presently 25.64%.
In other Symantec news, Director Peter A. Feld bought 650,000 shares of Symantec stock in a transaction that occurred on Wednesday, May 15th. The shares were purchased at an average cost of $19.51 per share, for a total transaction of $12,681,500.00. Following the completion of the transaction, the director now owns 22,117 shares of the company’s stock, valued at approximately $431,502.67. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 1.90% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SYMC. Dimensional Fund Advisors LP lifted its position in Symantec by 3.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,607,248 shares of the technology company’s stock valued at $30,367,000 after acquiring an additional 53,755 shares during the period. Natixis Advisors L.P. lifted its position in Symantec by 415.1% during the 4th quarter. Natixis Advisors L.P. now owns 63,525 shares of the technology company’s stock valued at $1,200,000 after acquiring an additional 51,193 shares during the period. American International Group Inc. lifted its position in Symantec by 3.9% during the 4th quarter. American International Group Inc. now owns 266,442 shares of the technology company’s stock valued at $5,034,000 after acquiring an additional 9,886 shares during the period. BOKF NA lifted its position in Symantec by 12.1% during the 4th quarter. BOKF NA now owns 28,534 shares of the technology company’s stock valued at $539,000 after acquiring an additional 3,083 shares during the period. Finally, Bronfman E.L. Rothschild L.P. lifted its position in Symantec by 27.1% during the 4th quarter. Bronfman E.L. Rothschild L.P. now owns 3,363 shares of the technology company’s stock valued at $64,000 after acquiring an additional 718 shares during the period. Hedge funds and other institutional investors own 91.64% 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.
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