State Board of Administration of Florida Retirement System Trims Stake in Symantec Co. (SYMC)

State Board of Administration of Florida Retirement System reduced its position in Symantec Co. (NASDAQ:SYMC) by 0.5% in the 1st quarter, Holdings Channel reports. The firm owned 877,729 shares of the technology company’s stock after selling 4,330 shares during the period. State Board of Administration of Florida Retirement System’s holdings in Symantec were worth $20,179,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. PNC Financial Services Group Inc. lifted its holdings in shares of Symantec by 59.5% in the 4th quarter. PNC Financial Services Group Inc. now owns 152,865 shares of the technology company’s stock valued at $2,889,000 after purchasing an additional 57,015 shares during the last quarter. Strs Ohio lifted its holdings in shares of Symantec by 6,355.7% in the 1st quarter. Strs Ohio now owns 507,867 shares of the technology company’s stock valued at $11,675,000 after purchasing an additional 500,000 shares during the last quarter. Matrix Asset Advisors Inc. NY lifted its holdings in shares of Symantec by 10.1% in the 4th quarter. Matrix Asset Advisors Inc. NY now owns 229,857 shares of the technology company’s stock valued at $4,343,000 after purchasing an additional 21,003 shares during the last quarter. IFM Investors Pty Ltd lifted its holdings in shares of Symantec by 10.8% in the 4th quarter. IFM Investors Pty Ltd now owns 36,229 shares of the technology company’s stock valued at $685,000 after purchasing an additional 3,523 shares during the last quarter. Finally, Nissay Asset Management Corp Japan ADV lifted its holdings in shares of Symantec by 3.1% in the 4th quarter. Nissay Asset Management Corp Japan ADV now owns 46,701 shares of the technology company’s stock valued at $883,000 after purchasing an additional 1,388 shares during the last quarter. 89.96% of the stock is owned by institutional investors and hedge funds.

Several analysts have recently weighed in on the company. BidaskClub downgraded Symantec from a “sell” rating to a “strong sell” rating in a report on Friday, May 10th. Jefferies Financial Group reduced their target price on Symantec from $22.00 to $19.00 and set a “hold” rating for the company in a report on Friday, May 10th. Robert W. Baird reissued a “hold” rating on shares of Symantec in a report on Friday, May 10th. Wedbush reissued a “neutral” rating and issued a $19.00 target price (down from $24.00) on shares of Symantec in a report on Friday, May 10th. Finally, ValuEngine downgraded Symantec from a “hold” rating to a “sell” rating in a research note on Wednesday, May 8th. Three analysts have rated the stock with a sell rating, twelve have given a hold rating and three have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $22.13.



In other news, VP Matthew Charles Brown sold 5,393 shares of the stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $21.90, for a total transaction of $118,106.70. Following the completion of the transaction, the vice president now directly owns 58,514 shares of the company’s stock, valued at approximately $1,281,456.60. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Gregory S. Clark sold 636,209 shares of the stock in a transaction that occurred on Wednesday, April 10th. The stock was sold at an average price of $23.69, for a total value of $15,071,791.21. Following the transaction, the insider now directly owns 1,503,837 shares of the company’s stock, valued at $35,625,898.53. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,116,703 shares of company stock valued at $26,033,682. 1.90% of the stock is owned by company insiders.

SYMC opened at $19.47 on Wednesday. The company has a quick ratio of 1.02, a current ratio of 0.85 and a debt-to-equity ratio of 0.69. The company has a market cap of $12.23 billion, a price-to-earnings ratio of 16.64, a P/E/G ratio of 1.79 and a beta of 1.09. Symantec Co. has a 52 week low of $17.42 and a 52 week high of $24.77.

Symantec (NASDAQ:SYMC) last posted its quarterly earnings data on Thursday, May 9th. The technology company reported $0.39 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.39. The firm had revenue of $1.20 billion during the quarter, compared to the consensus estimate of $1.21 billion. Symantec had a return on equity of 13.05% and a net margin of 0.59%. The firm’s revenue was down 2.2% compared to the same quarter last year. During the same period in the prior year, the business earned $0.46 EPS. On average, equities research analysts expect that Symantec Co. will post 1.35 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 26th. Shareholders of record on Monday, June 10th will be paid a dividend of $0.075 per share. This represents a $0.30 annualized dividend and a yield of 1.54%. The ex-dividend date is Friday, June 7th. Symantec’s dividend payout ratio is presently 25.64%.

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Symantec Profile

Symantec Corporation provides cybersecurity products, services, and solutions worldwide. The company operates through two segments, Enterprise Security and Consumer Digital Safety. The Enterprise Security segment provides endpoint and information protection products, including endpoint security, advanced threat protection, and information protection solutions and their related support services; and network and Web security products, such as network security, Web security, and cloud security solutions and their related support services.

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Institutional Ownership by Quarter for Symantec (NASDAQ:SYMC)

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