Mitsubishi UFJ Trust & Banking Corp Sells 774,573 Shares of Symantec Co. (SYMC)

Mitsubishi UFJ Trust & Banking Corp lowered its stake in shares of Symantec Co. (NASDAQ:SYMC) by 61.9% in the third quarter, according to its most recent 13F filing with the SEC. The fund owned 476,062 shares of the technology company’s stock after selling 774,573 shares during the period. Mitsubishi UFJ Trust & Banking Corp owned about 0.07% of Symantec worth $10,131,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Steward Partners Investment Advisory LLC raised its stake in shares of Symantec by 355.7% during the 3rd quarter. Steward Partners Investment Advisory LLC now owns 6,129 shares of the technology company’s stock valued at $130,000 after buying an additional 4,784 shares during the last quarter. Piedmont Investment Advisors LLC purchased a new position in shares of Symantec during the 2nd quarter valued at about $150,000. Advisor Partners LLC purchased a new position in shares of Symantec during the 3rd quarter valued at about $218,000. American Century Companies Inc. purchased a new position in shares of Symantec in the 3rd quarter valued at about $223,000. Finally, Alambic Investment Management L.P. purchased a new position in shares of Symantec in the 2nd quarter valued at about $250,000. Institutional investors and hedge funds own 87.83% of the company’s stock.

SYMC stock opened at $21.96 on Thursday. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.00 and a current ratio of 1.00. Symantec Co. has a 12-month low of $17.49 and a 12-month high of $29.73. The stock has a market capitalization of $14.03 billion, a P/E ratio of 23.12, a PEG ratio of 2.79 and a beta of 0.96.



Symantec (NASDAQ:SYMC) last posted its quarterly earnings data on Thursday, November 1st. The technology company reported $0.42 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.33 by $0.09. Symantec had a return on equity of 13.99% and a net margin of 25.95%. The company had revenue of $1.18 billion for the quarter, compared to analysts’ expectations of $1.14 billion. During the same period in the previous year, the firm posted $0.40 EPS. Symantec’s revenue was down 7.2% compared to the same quarter last year. As a group, analysts expect that Symantec Co. will post 1 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 12th. Investors of record on Monday, November 19th will be issued a $0.075 dividend. This represents a $0.30 annualized dividend and a yield of 1.37%. The ex-dividend date of this dividend is Friday, November 16th. Symantec’s payout ratio is 31.58%.

SYMC has been the subject of several recent analyst reports. Deutsche Bank lifted their price target on Symantec from $18.00 to $20.00 and gave the company a “hold” rating in a research note on Friday, August 17th. BidaskClub upgraded Symantec from a “sell” rating to a “hold” rating in a research note on Tuesday, August 21st. UBS Group upgraded Symantec from a “neutral” rating to a “positive” rating in a research note on Tuesday, August 21st. Susquehanna Bancshares upgraded Symantec from a “neutral” rating to a “positive” rating and lifted their price target for the company from $21.00 to $23.00 in a research note on Tuesday, August 21st. Finally, Evercore ISI restated a “hold” rating and issued a $22.00 price target on shares of Symantec in a research note on Monday, September 17th. Three equities research analysts have rated the stock with a sell rating, nineteen have issued a hold rating and four have given a buy rating to the company’s stock. Symantec presently has a consensus rating of “Hold” and a consensus target price of $23.11.

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About Symantec

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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Institutional Ownership by Quarter for Symantec (NASDAQ:SYMC)

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