Affinity Investment Advisors LLC Trims Position in Symantec Corporation (SYMC)

Affinity Investment Advisors LLC cut its stake in Symantec Corporation (NASDAQ:SYMC) by 56.1% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 106,170 shares of the technology company’s stock after selling 135,925 shares during the period. Affinity Investment Advisors LLC’s holdings in Symantec Corporation were worth $3,483,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Bessemer Group Inc. lifted its position in Symantec Corporation by 1.2% in the second quarter. Bessemer Group Inc. now owns 9,311 shares of the technology company’s stock valued at $263,000 after acquiring an additional 106 shares during the last quarter. Wetherby Asset Management Inc. lifted its position in Symantec Corporation by 2.8% in the second quarter. Wetherby Asset Management Inc. now owns 8,885 shares of the technology company’s stock valued at $251,000 after acquiring an additional 246 shares during the last quarter. Blair William & Co. IL lifted its position in Symantec Corporation by 2.2% in the second quarter. Blair William & Co. IL now owns 13,309 shares of the technology company’s stock valued at $376,000 after acquiring an additional 291 shares during the last quarter. Northwestern Mutual Wealth Management Co. lifted its position in Symantec Corporation by 7.9% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 3,982 shares of the technology company’s stock valued at $112,000 after acquiring an additional 292 shares during the last quarter. Finally, Johnson Financial Group Inc. lifted its position in Symantec Corporation by 6.2% in the second quarter. Johnson Financial Group Inc. now owns 5,596 shares of the technology company’s stock valued at $158,000 after acquiring an additional 325 shares during the last quarter. 91.41% of the stock is owned by hedge funds and other institutional investors.

In other Symantec Corporation news, Director Suzanne M. Vautrinot sold 2,500 shares of Symantec Corporation stock in a transaction on Monday, October 2nd. The stock was sold at an average price of $32.81, for a total value of $82,025.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Scott C. Taylor sold 10,622 shares of Symantec Corporation stock in a transaction on Monday, September 25th. The stock was sold at an average price of $32.83, for a total value of $348,720.26. Following the completion of the sale, the executive vice president now directly owns 232,609 shares of the company’s stock, valued at approximately $7,636,553.47. The disclosure for this sale can be found here. In the last three months, insiders sold 1,645,816 shares of company stock valued at $47,911,129. Corporate insiders own 1.30% of the company’s stock.

A number of equities research analysts recently weighed in on SYMC shares. Credit Suisse Group started coverage on shares of Symantec Corporation in a research report on Tuesday, September 5th. They issued an “outperform” rating and a $36.00 price target for the company. Zacks Investment Research raised shares of Symantec Corporation from a “strong sell” rating to a “buy” rating and set a $32.00 price target for the company in a research report on Tuesday, July 11th. Robert W. Baird reissued a “hold” rating and issued a $32.00 price target on shares of Symantec Corporation in a research report on Friday, September 8th. Morgan Stanley reissued an “overweight” rating and issued a $37.00 price target on shares of Symantec Corporation in a research report on Thursday, July 13th. Finally, Stifel Nicolaus reissued a “hold” rating and issued a $27.00 price target on shares of Symantec Corporation in a research report on Wednesday, July 19th. Three research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and ten have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $31.64.

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Symantec Corporation (NASDAQ:SYMC) last posted its earnings results on Wednesday, November 1st. The technology company reported $0.40 EPS for the quarter, topping the Zacks’ consensus estimate of $0.26 by $0.14. The business had revenue of $1.28 billion during the quarter, compared to analyst estimates of $1.27 billion. Symantec Corporation had a positive return on equity of 10.73% and a negative net margin of 8.68%. The company’s quarterly revenue was up 25.7% compared to the same quarter last year. During the same quarter last year, the company earned $0.30 EPS.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 13th. Shareholders of record on Monday, November 20th will be issued a $0.075 dividend. This represents a $0.30 dividend on an annualized basis and a dividend yield of 0.92%. Symantec Corporation’s payout ratio is -49.18%.

Symantec Corporation 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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Institutional Ownership by Quarter for Symantec Corporation (NASDAQ:SYMC)

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