Symantec Corporation (NASDAQ:SYMC) Insider Sells $38,900,286.04 in Stock

Symantec Corporation (NASDAQ:SYMC) insider Michael David Fey sold 1,348,831 shares of the business’s stock in a transaction dated Tuesday, August 8th. The shares were sold at an average price of $28.84, for a total transaction of $38,900,286.04. Following the completion of the transaction, the insider now owns 1,605,757 shares in the company, valued at $46,310,031.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Shares of Symantec Corporation (NASDAQ SYMC) traded up 1.46% during trading on Friday, hitting $28.45. 7,202,238 shares of the stock were exchanged. Symantec Corporation has a 52-week low of $22.76 and a 52-week high of $33.22. The firm has a 50 day moving average of $29.56 and a 200-day moving average of $29.83. The stock’s market cap is $17.43 billion.

Symantec Corporation (NASDAQ:SYMC) last released its quarterly earnings data on Wednesday, August 2nd. The technology company reported $0.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.12 by $0.03. The firm had revenue of $1.23 billion for the quarter, compared to analysts’ expectations of $1.20 billion. Symantec Corporation had a negative net margin of 8.68% and a positive return on equity of 10.73%. The company’s revenue for the quarter was up 38.9% compared to the same quarter last year. During the same quarter last year, the business posted $0.29 earnings per share. Equities research analysts anticipate that Symantec Corporation will post $1.81 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 13th. Stockholders of record on Monday, August 21st will be given a dividend of $0.075 per share. This represents a $0.30 annualized dividend and a dividend yield of 1.05%. The ex-dividend date is Thursday, August 17th. Symantec Corporation’s payout ratio is currently -49.18%.

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SYMC has been the topic of a number of research analyst reports. Goldman Sachs Group, Inc. (The) reiterated a “buy” rating and issued a $36.00 target price on shares of Symantec Corporation in a research note on Friday, June 9th. Standpoint Research upgraded shares of Symantec Corporation from a “hold” rating to a “buy” rating in a research note on Thursday, June 29th. Zacks Investment Research upgraded shares of Symantec Corporation from a “strong sell” rating to a “buy” rating and set a $32.00 target price on the stock in a research note on Tuesday, July 11th. BidaskClub upgraded shares of Symantec Corporation from a “hold” rating to a “buy” rating in a research note on Wednesday, July 12th. Finally, Stifel Nicolaus reiterated a “hold” rating and issued a $29.00 target price (up from $28.00) on shares of Symantec Corporation in a research note on Thursday, May 11th. Two research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and thirteen have assigned a buy rating to the stock. Symantec Corporation has an average rating of “Hold” and an average price target of $31.00.

Large investors have recently added to or reduced their stakes in the stock. Capital World Investors boosted its stake in Symantec Corporation by 3.7% in the second quarter. Capital World Investors now owns 75,819,338 shares of the technology company’s stock valued at $2,141,896,000 after buying an additional 2,695,567 shares during the last quarter. Vanguard Group Inc. boosted its stake in Symantec Corporation by 1.3% in the second quarter. Vanguard Group Inc. now owns 61,195,217 shares of the technology company’s stock valued at $1,728,766,000 after buying an additional 757,092 shares during the last quarter. BlackRock Inc. boosted its stake in Symantec Corporation by 2,815.1% in the first quarter. BlackRock Inc. now owns 40,975,309 shares of the technology company’s stock valued at $1,257,121,000 after buying an additional 39,569,694 shares during the last quarter. State Street Corp boosted its stake in Symantec Corporation by 1.7% in the first quarter. State Street Corp now owns 27,978,710 shares of the technology company’s stock valued at $858,386,000 after buying an additional 464,913 shares during the last quarter. Finally, Jackson Square Partners LLC boosted its stake in Symantec Corporation by 5.0% in the second quarter. Jackson Square Partners LLC now owns 20,071,586 shares of the technology company’s stock valued at $567,022,000 after buying an additional 964,537 shares during the last quarter. Hedge funds and other institutional investors own 93.40% of the company’s stock.

About Symantec Corporation

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.

Insider Buying and Selling by Quarter for Symantec Corporation (NASDAQ:SYMC)

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