Farley Capital Ii buys $1.4 Million stake in Symantec Corporation (SYMC)

Symantec Corporation (SYMC) : Farley Capital Ii scooped up 76,528 additional shares in Symantec Corporation during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 13, 2016. The investment management firm now holds a total of 86,088 shares of Symantec Corporation which is valued at $1.4 Million.Symantec Corporation makes up approximately 2.04% of Farley Capital Ii’s portfolio.

Other Hedge Funds, Including , I.g. Investment Management Ltd. boosted its stake in SYMC in the latest quarter, The investment management firm added 13,000 additional shares and now holds a total of 417,210 shares of Symantec Corporation which is valued at $7 Million. Symantec Corporation makes up approx 0.03% of I.g. Investment Management Ltd.’s portfolio.Ibm Retirement Fund reduced its stake in SYMC by selling 85,302 shares or 51.57% in the most recent quarter. The Hedge Fund company now holds 80,095 shares of SYMC which is valued at $1.3 Million. Symantec Corporation makes up approx 0.05% of Ibm Retirement Fund’s portfolio.Schwab Charles Investment Management Inc boosted its stake in SYMC in the latest quarter, The investment management firm added 8,911 additional shares and now holds a total of 1,925,000 shares of Symantec Corporation which is valued at $32 Million. Symantec Corporation makes up approx 0.04% of Schwab Charles Investment Management Inc’s portfolio. Evercore Wealth Management sold out all of its stake in SYMC during the most recent quarter. The investment firm sold 476 shares of SYMC which is valued $7,906.Mitsubishi Ufj Kokusai Asset Management Ltd. boosted its stake in SYMC in the latest quarter, The investment management firm added 7,376 additional shares and now holds a total of 97,985 shares of Symantec Corporation which is valued at $1.6 Million. Symantec Corporation makes up approx 0.04% of Mitsubishi Ufj Kokusai Asset Management Ltd.’s portfolio.

Symantec Corporation opened for trading at $17.1 and hit $17.28 on the upside on Wednesday, eventually ending the session at $17.25, with a gain of 1.05% or 0.18 points. The heightened volatility saw the trading volume jump to 1,09,73,361 shares. Company has a market cap of $10,562 M.

On the company’s financial health, Symantec Corporation reported $0.22 EPS for the quarter, based on the information available during the earnings call on May 12, 2016. Analyst had a consensus estimate of $0.22. The company had revenue of $873.00 million for the quarter, compared to analysts expectations of $873.08 million. The company’s revenue was down -2.9 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.43 EPS.

Investors should note that on May 12, 2016, Symantec Corporation announced a cash dividend of $0.0750. The company’s management has announced Jun 6, 2016 as the ex-dividend date and fixed the record date on Jun 8, 2016. The payable date has been fixed on Jun 22, 2016.

Many Wall Street Analysts have commented on Symantec Corporation. Shares were Reiterated by Topeka Capital Markets on Apr 28, 2016 to “Hold” and Lowered the Price Target to $ 20 from a previous price target of $23 .Shares were Reiterated by Wunderlich on Apr 28, 2016 to “Hold” and Lowered the Price Target to $ 19 from a previous price target of $25 .Symantec Corporation was Downgraded by Raymond James to ” Mkt Perform” on Apr 28, 2016.

Symantec Corporation provides security backup and availability solutions. The Company operates in three segments: Consumer Security Enterprise Security and Information Management. The Company’s products and services offer protection of information in any environment from the mobile device to the enterprise data center to cloud-based systems. Consumers receive automatic downloads of the latest virus definitions application bug fixes and patches for its consumer product. The Company’s enterprise security support program offers annual maintenance support contracts including content upgrades and technical support. The Company’s Consumer Security segment offers Norton-branded services which provide multi-layer security and identity protection on desktop and mobile operating systems to defend against online threats to individuals families and small businesses.

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