Cohen Klingenstein LLC Has $2,475,000 Stake in Symantec Corp. (SYMC)
Cohen Klingenstein LLC continued to hold its position in Symantec Corp. (NASDAQ:SYMC) during the third quarter, Holdings Channel reports. The fund owned 98,600 shares of the company’s stock at the end of the third quarter. Cohen Klingenstein LLC’s holdings in Symantec Corp. were worth $2,475,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. GSA Capital Partners LLP increased its stake in shares of Symantec Corp. by 22.3% in the second quarter. GSA Capital Partners LLP now owns 170,877 shares of the company’s stock worth $3,510,000 after buying an additional 31,143 shares during the period. Charter Trust Co. increased its stake 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 during the period. Regentatlantic Capital LLC increased its stake in shares of Symantec Corp. by 41.4% in the second quarter. Regentatlantic Capital LLC now owns 192,788 shares of the company’s stock worth $3,960,000 after buying an additional 56,449 shares during the period. Americafirst Capital Management LLC acquired a new stake in shares of Symantec Corp. during the second quarter worth about $109,000. Finally, Capstone Asset Management Co. increased its stake 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 during the period. Hedge funds and other institutional investors own 93.38% of the company’s stock.
Symantec Corp. (NASDAQ:SYMC) traded up 0.29% during mid-day trading on Wednesday, hitting $24.39. The stock had a trading volume of 9,629,182 shares. The stock has a market cap of $15.21 billion, a PE ratio of 7.05 and a beta of 1.23. Symantec Corp. has a one year low of $16.14 and a one year high of $25.72. The firm’s 50-day moving average is $24.62 and its 200 day moving average is $22.22.
Symantec Corp. (NASDAQ:SYMC) last posted its quarterly earnings data on Thursday, November 3rd. The company reported $0.30 EPS for the quarter, beating the Zacks’ consensus estimate of $0.20 by $0.10. Symantec Corp. had a net margin of 60.52% and a return on equity of 11.62%. The business had revenue of $979 million for the quarter, compared to analyst estimates of $978.86 million. During the same quarter last year, the business earned $0.44 earnings per share. The business’s revenue for the quarter was up 8.1% on a year-over-year basis. Equities research analysts expect that Symantec Corp. will post $1.16 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 14th. Shareholders of record on Monday, November 21st will be given a $0.075 dividend. The ex-dividend date is Thursday, November 17th. This represents a $0.30 annualized dividend and a yield of 1.23%. Symantec Corp.’s dividend payout ratio (DPR) is 8.85%.
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A number of analysts have recently commented on the company. Wells Fargo & Co. reiterated a “hold” rating on shares of Symantec Corp. in a research report on Sunday, September 25th. Barclays PLC lifted their target price on Symantec Corp. from $24.00 to $26.00 and gave the stock an “equal weight” rating in a research report on Monday, September 19th. MKM Partners lifted their target price on Symantec Corp. from $21.00 to $26.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 2nd. BTIG Research reiterated a “buy” rating and set a $28.00 target price on shares of Symantec Corp. in a research report on Thursday, August 25th. Finally, FBN Securities initiated coverage on Symantec Corp. in a research report on Thursday, October 13th. They issued an “outperform” rating and a $29.00 price target on the stock. One analyst has rated the stock with a sell rating, thirteen have given a hold rating and twelve have assigned a buy rating to the stock. Symantec Corp. presently has a consensus rating of “Hold” and an average price target of $25.44.
In other Symantec Corp. news, EVP Francis C. Rosch sold 3,336 shares of Symantec Corp. stock in a transaction that occurred on Wednesday, September 7th. The shares were sold at an average price of $24.88, for a total value of $82,999.68. Following the transaction, the executive vice president now owns 299,895 shares in the company, valued at $7,461,387.60. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Michael David Fey sold 13,214 shares of Symantec Corp. stock in a transaction that occurred on Tuesday, November 1st. The stock was sold at an average price of $25.13, for a total transaction of $332,067.82. Following the completion of the transaction, the insider now owns 288,953 shares in the company, valued at approximately $7,261,388.89. The disclosure for this sale can be found here. 0.76% of the stock is currently owned by company insiders.
Symantec Corp. Company Profile
Symantec Corporation is a United States-based cybersecurity company. The Company operates its business on a global civilian cyber intelligence threat network and tracks a range of threats across the Internet from various mobile devices, endpoints and servers across the globe. The Company’s segments include Consumer Security and Enterprise Security.
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