Sumitomo Mitsui Asset Management Company LTD raised its position in shares of Symantec Corporation (NASDAQ:SYMC) by 164.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 137,566 shares of the technology company’s stock after buying an additional 85,583 shares during the period. Sumitomo Mitsui Asset Management Company LTD’s holdings in Symantec Corporation were worth $3,886,000 as of its most recent SEC filing.
A number of other large investors have also bought and sold shares of the stock. Westpac Banking Corp increased its stake in Symantec Corporation by 69.2% in the first quarter. Westpac Banking Corp now owns 60,637 shares of the technology company’s stock valued at $1,115,000 after buying an additional 24,805 shares in the last quarter. Telemus Capital LLC increased its stake in Symantec Corporation by 14.7% in the first quarter. Telemus Capital LLC now owns 32,375 shares of the technology company’s stock valued at $993,000 after buying an additional 4,155 shares in the last quarter. Kwmg LLC increased its stake in Symantec Corporation by 61.0% in the first quarter. Kwmg LLC now owns 56,378 shares of the technology company’s stock valued at $1,730,000 after buying an additional 21,367 shares in the last quarter. Spirit of America Management Corp NY increased its stake in Symantec Corporation by 9.9% in the second quarter. Spirit of America Management Corp NY now owns 26,200 shares of the technology company’s stock valued at $740,000 after buying an additional 2,350 shares in the last quarter. Finally, Affinity Investment Advisors LLC bought a new position in Symantec Corporation during the second quarter valued at approximately $6,839,000. Institutional investors own 93.40% of the company’s stock.
Symantec Corporation (SYMC) opened at 28.45 on Friday. The stock’s market capitalization is $17.43 billion. The stock’s 50 day moving average price is $29.56 and its 200-day moving average price is $29.83. Symantec Corporation has a 52 week low of $22.76 and a 52 week high of $33.22.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 13th. Shareholders of record on Monday, August 21st will be paid a dividend of $0.075 per share. The ex-dividend date of this dividend is Thursday, August 17th. This represents a $0.30 annualized dividend and a yield of 1.05%. Symantec Corporation’s dividend payout ratio is -49.18%.
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Several research analysts recently commented on SYMC shares. OTR Global raised Symantec Corporation to a “positive” rating in a research note on Friday, April 21st. Zacks Investment Research raised Symantec Corporation from a “sell” rating to a “hold” rating in a research note on Tuesday, May 9th. First Analysis raised Symantec Corporation from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $28.00 to $40.00 in a research note on Thursday, May 11th. Robert W. Baird reissued a “hold” rating on shares of Symantec Corporation in a research note on Thursday, May 11th. Finally, Stifel Nicolaus reaffirmed a “hold” rating and set a $29.00 price objective (up from $28.00) on shares of Symantec Corporation in a research report on Thursday, May 11th. Two investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating and thirteen have given a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $31.00.
In other news, CAO Mark S. Garfield sold 11,397 shares of the stock in a transaction that occurred on Friday, June 2nd. The shares were sold at an average price of $30.06, for a total transaction of $342,593.82. Following the sale, the chief accounting officer now directly owns 51,068 shares of the company’s stock, valued at $1,535,104.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Anita M. Sands sold 2,000 shares of the stock in a transaction that occurred on Wednesday, July 12th. The shares were sold at an average price of $30.00, for a total transaction of $60,000.00. Following the sale, the director now directly owns 43,386 shares in the company, valued at $1,301,580. The disclosure for this sale can be found here. Insiders have sold 1,475,916 shares of company stock worth $42,723,358 over the last ninety days. Insiders own 0.76% of the company’s stock.
Symantec Corporation Company Profile
Symantec Corporation is a United States-based cyber security company. The Company offers products under categories, such as threat protection, information protection, cyber security services and Website security. Under threat protection, it offers Advanced Threat Protection, Endpoint Protection, Endpoint Protection Cloud, IT Management Suite, Email Security.Cloud, Data Center Security and Cloud Workload Protection products.
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