McAfee Corp. (NASDAQ:MCFE) rose 4.1% during mid-day trading on Tuesday . The company traded as high as $22.15 and last traded at $22.15. Approximately 6,597 shares were traded during mid-day trading, a decline of 99% from the average daily volume of 1,153,101 shares. The stock had previously closed at $21.28.
MCFE has been the subject of a number of research reports. The Goldman Sachs Group initiated coverage on shares of McAfee in a report on Wednesday. They issued a “neutral” rating and a $26.00 price objective for the company. Mizuho raised their price objective on shares of McAfee from $28.00 to $30.00 and gave the company a “buy” rating in a report on Thursday, June 17th. Piper Sandler increased their target price on shares of McAfee from $28.00 to $32.00 and gave the company an “overweight” rating in a research report on Wednesday, June 16th. Zacks Investment Research downgraded shares of McAfee from a “hold” rating to a “sell” rating in a research report on Wednesday, August 18th. Finally, UBS Group initiated coverage on shares of McAfee in a research report on Tuesday, September 7th. They set a “neutral” rating and a $29.00 target price for the company. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, McAfee has an average rating of “Hold” and a consensus target price of $25.54.
The company has a market cap of $9.39 billion and a price-to-earnings ratio of -63.56. The firm’s 50-day moving average price is $25.93 and its 200 day moving average price is $25.60.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 8th. Investors of record on Friday, September 24th will be paid a $0.115 dividend. This represents a $0.46 dividend on an annualized basis and a yield of 2.13%. The ex-dividend date is Thursday, September 23rd. McAfee’s dividend payout ratio is currently 34.85%.
In other McAfee news, insider Venkat Bhamidipati sold 29,630 shares of McAfee stock in a transaction dated Tuesday, September 14th. The stock was sold at an average price of $21.71, for a total transaction of $643,267.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Group Holdings (Sbs) Advis Tpg sold 6,473,440 shares of McAfee stock in a transaction dated Tuesday, September 14th. The shares were sold at an average price of $21.71, for a total value of $140,538,382.40. The disclosure for this sale can be found here. Insiders sold a total of 16,168,402 shares of company stock worth $351,016,007 over the last 90 days. 0.61% of the stock is currently owned by company insiders.
Hedge funds and other institutional investors have recently modified their holdings of the company. Harvest Fund Management Co. Ltd grew its holdings in shares of McAfee by 158.4% during the second quarter. Harvest Fund Management Co. Ltd now owns 2,075 shares of the company’s stock worth $58,000 after purchasing an additional 1,272 shares in the last quarter. Rockefeller Capital Management L.P. purchased a new position in shares of McAfee during the second quarter worth about $60,000. The PNC Financial Services Group Inc. grew its holdings in shares of McAfee by 251.4% during the first quarter. The PNC Financial Services Group Inc. now owns 2,811 shares of the company’s stock worth $64,000 after purchasing an additional 2,011 shares in the last quarter. Advisor Group Holdings Inc. grew its holdings in shares of McAfee by 37.7% during the second quarter. Advisor Group Holdings Inc. now owns 2,489 shares of the company’s stock worth $70,000 after purchasing an additional 681 shares in the last quarter. Finally, Metropolitan Life Insurance Co NY grew its holdings in shares of McAfee by 267,200.0% during the second quarter. Metropolitan Life Insurance Co NY now owns 2,673 shares of the company’s stock worth $75,000 after purchasing an additional 2,672 shares in the last quarter. 30.57% of the stock is owned by institutional investors.
McAfee Company Profile (NASDAQ:MCFE)
McAfee Corp. provides various integrated security, privacy, and trust solutions to consumers, small and medium-sized businesses, large enterprises, and governments in the United States and internationally. The company operates in two segments, Consumer and Enterprise. Its security technologies enable home users and businesses to stay ahead of the wave of fileless attacks, viruses, malware, and other online threats.
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