Alambic Investment Management L.P. reduced its stake in Symantec Corporation (NASDAQ:SYMC) by 94.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,000 shares of the technology company’s stock after selling 204,600 shares during the period. Alambic Investment Management L.P.’s holdings in Symantec were worth $365,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently made changes to their positions in SYMC. Weatherly Asset Management L. P. grew its stake in shares of Symantec by 7.3% during the fourth quarter. Weatherly Asset Management L. P. now owns 82,597 shares of the technology company’s stock valued at $2,318,000 after acquiring an additional 5,626 shares in the last quarter. Bessemer Group Inc. grew its stake in shares of Symantec by 33.8% during the fourth quarter. Bessemer Group Inc. now owns 15,296 shares of the technology company’s stock valued at $429,000 after acquiring an additional 3,861 shares in the last quarter. Cambiar Investors LLC grew its stake in shares of Symantec by 78.4% during the fourth quarter. Cambiar Investors LLC now owns 2,088,120 shares of the technology company’s stock valued at $58,593,000 after acquiring an additional 917,448 shares in the last quarter. Ledyard National Bank grew its stake in shares of Symantec by 13.6% during the fourth quarter. Ledyard National Bank now owns 15,870 shares of the technology company’s stock valued at $445,000 after acquiring an additional 1,905 shares in the last quarter. Finally, LMR Partners LLP grew its stake in shares of Symantec by 199.2% during the fourth quarter. LMR Partners LLP now owns 42,616 shares of the technology company’s stock valued at $1,196,000 after acquiring an additional 28,373 shares in the last quarter. Hedge funds and other institutional investors own 94.93% of the company’s stock.
Symantec Corporation (SYMC) opened at $25.91 on Friday. The company has a debt-to-equity ratio of 1.13, a quick ratio of 1.12 and a current ratio of 1.15. Symantec Corporation has a 12-month low of $24.94 and a 12-month high of $34.20. The company has a market cap of $16,060.00, a PE ratio of 17.63, a PEG ratio of 3.04 and a beta of 0.89.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 14th. Stockholders of record on Tuesday, February 20th will be given a dividend of $0.075 per share. The ex-dividend date of this dividend is Friday, February 16th. This represents a $0.30 annualized dividend and a dividend yield of 1.16%. Symantec’s payout ratio is 20.41%.
In other Symantec news, EVP Francis C. Rosch sold 57,103 shares of the firm’s stock in a transaction dated Wednesday, December 6th. The shares were sold at an average price of $27.42, for a total value of $1,565,764.26. Following the transaction, the executive vice president now owns 325,026 shares of the company’s stock, valued at $8,912,212.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 1.30% of the company’s stock.
SYMC has been the subject of several recent analyst reports. Zacks Investment Research downgraded Symantec from a “hold” rating to a “strong sell” rating in a research note on Saturday, January 20th. BidaskClub downgraded Symantec from a “sell” rating to a “strong sell” rating in a research note on Saturday, January 13th. Evercore ISI restated a “hold” rating and set a $25.00 target price on shares of Symantec in a research note on Friday, January 26th. Credit Suisse Group downgraded Symantec from an “outperform” rating to a “neutral” rating and lowered their target price for the company from $36.00 to $30.00 in a research note on Monday, January 22nd. Finally, Barclays restated a “buy” rating and set a $36.00 target price on shares of Symantec in a research note on Thursday, November 2nd. Four analysts have rated the stock with a sell rating, sixteen have given a hold rating and eight have given a buy rating to the company. Symantec presently has a consensus rating of “Hold” and a consensus price target of $30.92.
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Symantec Corporation is a United States-based cyber security company. The Company offers products under categories, such as threat protection, information protection and cyber security services. 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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