Matrix Asset Advisors Incny Lowers stake in Symantec Corporation (SYMC)

Symantec Corporation (SYMC) : Matrix Asset Advisors Incny reduced its stake in Symantec Corporation by 4.09% during the most recent quarter end. The investment management company now holds a total of 447,869 shares of Symantec Corporation which is valued at $9,360,462 after selling 19,120 shares in Symantec Corporation , the firm said in a disclosure report filed with the SEC on Aug 3, 2016.Symantec Corporation makes up approximately 1.74% of Matrix Asset Advisors Incny’s portfolio.

Other Hedge Funds, Including , New York State Teachers Retirement System reduced its stake in SYMC by selling 14,254 shares or 1.16% in the most recent quarter. The Hedge Fund company now holds 1,217,986 shares of SYMC which is valued at $24,956,533. Symantec Corporation makes up approx 0.06% of New York State Teachers Retirement System’s portfolio.Gemmer Asset Management boosted its stake in SYMC in the latest quarter, The investment management firm added 36 additional shares and now holds a total of 475 shares of Symantec Corporation which is valued at $9,733. Symantec Corporation makes up approx 0.01% of Gemmer Asset Management’s portfolio. Farmers Merchants Investments Inc sold out all of its stake in SYMC during the most recent quarter. The investment firm sold 38 shares of SYMC which is valued $787.

Symantec Corporation closed down -0.105 points or -0.48% at $21.78 with 97,62,661 shares getting traded on Monday. Post opening the session at $21.75, the shares hit an intraday low of $21.67 and an intraday high of $22.14 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

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 Wunderlich on Aug 5, 2016 to “Hold”, Firm has raised the Price Target to $ 23 from a previous price target of $19 .Company shares were Reiterated by RBC Capital Mkts on Aug 5, 2016 to “Outperform”, Firm has raised the Price Target to $ 25 from a previous price target of $24 .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 .

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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