Today, State Treasurer State of Michigan Reached $5,393,000 position of Symantec Corp. (SYMC)

Today, State Treasurer State of Michigan Reached $5,393,000 position  of Symantec Corp. (SYMC)

State Treasurer State of Michigan raised its position in Symantec Corp. (NASDAQ:SYMC) by 1.0% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 214,849 shares of the company’s stock after buying an additional 2,100 shares during the period. State Treasurer State of Michigan’s holdings in Symantec Corp. were worth $5,393,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Charter Trust Co. raised its position in shares of Symantec Corp. by 0.5% in the second quarter. Charter Trust Co. now owns 17,824 shares of the company’s stock worth $366,000 after buying an additional 93 shares in the last quarter. Sumitomo Mitsui Asset Management Company LTD raised its position in shares of Symantec Corp. by 0.4% in the second quarter. Sumitomo Mitsui Asset Management Company LTD now owns 50,848 shares of the company’s stock worth $1,044,000 after buying an additional 183 shares in the last quarter. Capstone Asset Management Co. raised its position in shares of Symantec Corp. by 0.4% in the second quarter. Capstone Asset Management Co. now owns 52,031 shares of the company’s stock worth $1,069,000 after buying an additional 193 shares in the last quarter. Private Trust Co. NA raised its position in shares of Symantec Corp. by 0.8% in the third quarter. Private Trust Co. NA now owns 32,901 shares of the company’s stock worth $825,000 after buying an additional 254 shares in the last quarter. Finally, Essex Investment Management Co. LLC raised its position in shares of Symantec Corp. by 3.4% in the third quarter. Essex Investment Management Co. LLC now owns 12,403 shares of the company’s stock worth $311,000 after buying an additional 406 shares in the last quarter. Hedge funds and other institutional investors own 96.69% of the company’s stock.

Symantec Corp. (NASDAQ:SYMC) opened at 24.82 on Friday. The firm’s 50 day moving average is $24.64 and its 200 day moving average is $22.09. The stock has a market capitalization of $15.47 billion, a P/E ratio of 7.17 and a beta of 1.23. Symantec Corp. has a 1-year low of $16.14 and a 1-year high of $25.72.

Symantec Corp. (NASDAQ:SYMC) last released its quarterly earnings results on Thursday, November 3rd. The company reported $0.30 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.20 by $0.10. The business earned $979 million during the quarter, compared to the consensus estimate of $978.86 million. Symantec Corp. had a return on equity of 11.62% and a net margin of 60.52%. The business’s quarterly revenue was up 8.1% compared to the same quarter last year. During the same period in the previous year, the company posted $0.44 EPS. On average, equities research analysts anticipate that Symantec Corp. will post $1.16 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 14th. Shareholders of record on Monday, November 21st will be paid a dividend of $0.075 per share. The ex-dividend date of this dividend is Thursday, November 17th. This represents a $0.30 dividend on an annualized basis and a dividend yield of 1.21%. Symantec Corp.’s dividend payout ratio is currently 8.85%.

A number of brokerages have weighed in on SYMC. Bank of America Corp. set a $18.00 target price on shares of Symantec Corp. and gave the stock a “sell” rating in a research report on Sunday, November 6th. RBC Capital Markets reiterated an “outperform” rating and set a $25.00 target price (up previously from $24.00) on shares of Symantec Corp. in a research report on Friday, August 5th. MKM Partners increased their target price on shares of Symantec Corp. from $18.00 to $21.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 2nd. Oppenheimer Holdings Inc. upgraded shares of Symantec Corp. from a “market perform” rating to an “outperform” rating and set a $28.00 target price for the company in a research report on Friday, August 5th. Finally, Zacks Investment Research lowered shares of Symantec Corp. from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, August 10th. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating and twelve have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $25.44.

In other Symantec Corp. news, EVP Scott C. Taylor sold 40,000 shares of the business’s stock in a transaction dated Tuesday, October 25th. The stock was sold at an average price of $25.00, for a total transaction of $1,000,000.00. Following the completion of the sale, the executive vice president now directly owns 272,577 shares in the company, valued at approximately $6,814,425. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Michael David Fey sold 13,214 shares of the business’s stock in a transaction dated Friday, October 14th. The shares were sold at an average price of $24.40, for a total value of $322,421.60. Following the sale, the insider now owns 288,953 shares of the company’s stock, valued at $7,050,453.20. The disclosure for this sale can be found here. Company insiders own 0.76% of the company’s stock.

About Symantec Corp.

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