Symantec Co. (NASDAQ:SYMC) announced a quarterly dividend on Thursday, August 8th, NASDAQ reports. Shareholders of record on Monday, August 26th will be given a dividend of 0.075 per share by the technology company on Wednesday, September 18th. This represents a $0.30 dividend on an annualized basis and a dividend yield of 1.26%. The ex-dividend date is Friday, August 23rd.
Symantec has decreased its dividend by an average of 20.6% per year over the last three years. Symantec has a payout ratio of 33.3% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Symantec to earn $1.42 per share next year, which means the company should continue to be able to cover its $0.30 annual dividend with an expected future payout ratio of 21.1%.
Shares of SYMC stock traded up $0.12 during midday trading on Wednesday, reaching $23.88. 258,561 shares of the company were exchanged, compared to its average volume of 9,225,250. Symantec has a 12 month low of $17.42 and a 12 month high of $26.07. The company has a market cap of $14.75 billion, a P/E ratio of 20.41, a PEG ratio of 2.58 and a beta of 1.33. The company’s 50 day moving average price is $23.13 and its two-hundred day moving average price is $22.26. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.71 and a current ratio of 0.71.
SYMC has been the topic of a number of research reports. William Blair reiterated a “market perform” rating on shares of Symantec in a report on Friday, August 9th. Cowen assumed coverage on shares of Symantec in a research report on Thursday, May 23rd. They issued a “market perform” rating and a $22.00 target price on the stock. Monness Crespi & Hardt assumed coverage on shares of Symantec in a research report on Wednesday, July 10th. They issued a “neutral” rating on the stock. BidaskClub raised shares of Symantec from a “sell” rating to a “hold” rating in a research report on Friday, August 16th. Finally, Zacks Investment Research raised shares of Symantec from a “sell” rating to a “hold” rating in a research report on Wednesday, May 15th. One investment analyst has rated the stock with a sell rating, fourteen have issued a hold rating and four have given a buy rating to the stock. Symantec presently has an average rating of “Hold” and a consensus price target of $22.77.
In related news, Director Peter A. Feld acquired 1,325,814 shares of the stock in a transaction that occurred on Wednesday, August 14th. The shares were purchased at an average cost of $22.95 per share, with a total value of $30,427,431.30. Following the completion of the transaction, the director now owns 24,685 shares of the company’s stock, valued at approximately $566,520.75. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 1.90% of the company’s stock.
Symantec Corporation provides cybersecurity products, services, and solutions worldwide. The company operates through two segments, Enterprise Security and Consumer Digital Safety. The Enterprise Security segment provides endpoint and information protection products, including endpoint security, advanced threat protection, and information protection solutions and their related support services; and network and Web security products, such as network security, Web security, and cloud security solutions and their related support services.
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