Minneapolis Portfolio Management Group adds Symantec Corporation (SYMC) to its portfolio

Symantec Corporation (SYMC) : Minneapolis Portfolio Management Group added new position in Symantec Corporation during the most recent quarter end. The investment management firm now holds 1,179,850 shares of Symantec Corporation which is valued at $24,658,865 , the company said in a statement filed on Aug 1, 2016 with the SEC.Symantec Corporation makes up approximately 4.23% of Minneapolis Portfolio Management Group’s portfolio.

Other Hedge Funds, Including , Aberdeen Asset Management Plcuk reduced its stake in SYMC by selling 12,873 shares or 6.22% in the most recent quarter. The Hedge Fund company now holds 194,213 shares of SYMC which is valued at $4,059,052. Symantec Corporation makes up approx 0.01% of Aberdeen Asset Management Plcuk’s portfolio. Pacific Heights Asset Management sold out all of its stake in SYMC during the most recent quarter. The investment firm sold 160,000 shares of SYMC which is valued $3,246,400.Grimes Company reduced its stake in SYMC by selling 103,643 shares or 37.16% in the most recent quarter. The Hedge Fund company now holds 175,300 shares of SYMC which is valued at $3,556,837. Symantec Corporation makes up approx 0.46% of Grimes Company’s portfolio. Nikko Asset Management Americas added SYMC to its portfolio by purchasing 8,300 company shares during the most recent quarter which is valued at $171,810. Symantec Corporation makes up approx 0.02% of Nikko Asset Management Americas’s portfolio.

Symantec Corporation opened for trading at $20.95 and hit $21.22 on the upside on Thursday, eventually ending the session at $21.03, with a gain of 0.62% or 0.13 points. The heightened volatility saw the trading volume jump to 1,23,07,264 shares. Company has a market cap of $12,945 M.

On the company’s financial health, Symantec Corporation reported $0.29 EPS for the quarter, beating the analyst consensus estimate by $ 0.04 according to the earnings call on Aug 4, 2016. Analyst had a consensus of $0.25. The company had revenue of $884.00 million for the quarter, compared to analysts expectations of $877.37 million. The company’s revenue was down -3.1 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.40 EPS.

Many Wall Street Analysts have commented on Symantec Corporation. Company shares were Reiterated by Jefferies on Aug 2, 2016 to “Hold”, Firm has raised the Price Target to $ 20 from a previous price target of $17 .Company shares were Reiterated by MKM Partners on Aug 2, 2016 to “Neutral”, Firm has raised the Price Target to $ 21 from a previous price target of $18 .Symantec Corporation was Downgraded by Standpoint Research to ” Hold” on Jul 12, 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.

Leave a Reply

Symantec Corporation - Is it time to Sell?

Top Brokerage Firms are advising their investors on Symantec Corporation. Subscribe to MoneyFlowIndex.Org Pre-Market Alerts, You will be the first to know the street buzz.