Advisor Partners LLC Takes $218,000 Position in Symantec Co. (SYMC)
Advisor Partners LLC bought a new position in Symantec Co. (NASDAQ:SYMC) during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 10,235 shares of the technology company’s stock, valued at approximately $218,000.
Other institutional investors have also recently added to or reduced their stakes in the company. BlackRock Inc. lifted its stake in Symantec by 0.4% in the second quarter. BlackRock Inc. now owns 40,628,486 shares of the technology company’s stock valued at $838,978,000 after acquiring an additional 145,704 shares during the last quarter. Morgan Stanley lifted its stake in shares of Symantec by 154.9% in the second quarter. Morgan Stanley now owns 9,064,682 shares of the technology company’s stock worth $187,185,000 after buying an additional 5,508,428 shares during the last quarter. First Trust Advisors LP lifted its stake in shares of Symantec by 42.3% in the third quarter. First Trust Advisors LP now owns 8,701,121 shares of the technology company’s stock worth $185,160,000 after buying an additional 2,584,507 shares during the last quarter. FMR LLC lifted its stake in shares of Symantec by 53.4% in the second quarter. FMR LLC now owns 4,536,913 shares of the technology company’s stock worth $93,688,000 after buying an additional 1,578,770 shares during the last quarter. Finally, Beutel Goodman & Co Ltd. lifted its stake in shares of Symantec by 7.3% in the third quarter. Beutel Goodman & Co Ltd. now owns 4,385,558 shares of the technology company’s stock worth $72,196,000 after buying an additional 298,310 shares during the last quarter. 87.83% of the stock is currently owned by institutional investors and hedge funds.
Shares of SYMC traded down $0.53 during trading hours on Friday, hitting $21.78. The stock had a trading volume of 5,145,502 shares, compared to its average volume of 6,271,385. Symantec Co. has a 52 week low of $17.49 and a 52 week high of $29.73. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.00 and a current ratio of 1.00. The firm has a market cap of $14.25 billion, a price-to-earnings ratio of 22.93, a PEG ratio of 2.84 and a beta of 0.96.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 12th. Shareholders of record on Monday, November 19th will be issued a dividend of $0.075 per share. This represents a $0.30 dividend on an annualized basis and a yield of 1.38%. The ex-dividend date of this dividend is Friday, November 16th. Symantec’s dividend payout ratio is currently 31.58%.
A number of brokerages have recently weighed in on SYMC. Deutsche Bank boosted their price objective on shares of Symantec from $18.00 to $20.00 and gave the stock a “hold” rating in a research note on Friday, August 17th. Cowen upgraded shares of Symantec from an “underperform” rating to a “market perform” rating in a research note on Tuesday, October 16th. UBS Group upgraded shares of Symantec from a “neutral” rating to a “positive” rating in a research note on Tuesday, August 21st. Robert W. Baird upped their target price on shares of Symantec from $22.00 to $23.00 and gave the company a “neutral” rating in a research note on Friday, November 2nd. Finally, ValuEngine upgraded shares of Symantec from a “sell” rating to a “hold” rating in a research note on Tuesday, September 18th. Three investment analysts have rated the stock with a sell rating, nineteen have given a hold rating and four have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $23.11.
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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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